A Comprehensive Overview of My Chartered Accountant Articles Experience at Watson Incorporated.
In the pursuit of becoming a Chartered Accountant (CA(SA)) in 2024, I embarked on a transformative journey, culminating in the successful completion of my articles at Watson Incorporated. Situated at the far end of Constantia Cape Town, Watson Incorporated, with its modest team of thirteen professionals, specializes in providing a spectrum of services including audit, tax, accounting, and secretarial services.
Reflecting upon my articles experience, several distinctive benefits emerged from choosing a small firm for the completion of my SAICA articles:
Holistic Audit Exposure
One of the pivotal advantages was the opportunity to engage in entire audit processes, from planning to finalization. In an environment that valued hands-on learning, I undertook significant responsibilities from the onset, navigating through the complexities of audits with a focus on continuous improvement. On my first day after orientation, I was assigned to my first audit where the team consisted of myself, (a first-year trainee), an audit manager, and the engagement partner (two directors). I was not handheld through this process and was encouraged to figure it out and make my way through it as best I could. However, I was allowed to ask as many questions as I needed, not only being shown how but why. This threw me in the deep end, but I learned to swim quickly. After many questions and review notes. I got through my first audit and managed to keep my head above water the entire way through, absorbing as much feedback as I could. As I finished that audit, I was immediately onto the next. By the end of the first six months, I had completed several audits from start to finish. This helped me understand the audit experience as a whole and allowed me to perform many different sections of the audit.
Early Responsibility and Leadership
Watson Incorporated’s commitment to bringing in at least one new article clerk annually provided me with the chance to assume leadership roles early in my second year. The designated “lead” system for audits not only allowed for increased responsibility but also facilitated direct engagement with clients under the close supervision of experienced directors.
Diverse Clientele and Industries
The exposure to a wide array of clients across various industries, including technology, gambling, retail, and manufacturing, broadened my understanding of auditing practices and business. Utilising versatile audit software enhanced our adaptability, requiring a deeper exploration of industry-specific nuances. I had to delve deeper into my knowledge of auditing and the client to adapt the sometimes more generic procedures, or even design my own procedures, to appropriately cover the assertion(s) being tested and address the audit risk.
Competitive Remuneration
A distinctive advantage of a smaller firm was the provision of a higher salary compared to larger counterparts, underscoring the financial benefits for article clerks.
Supportive Environment for Board Exams
Watson’s commitment to supporting article clerks through board examinations was evident in their provision of resources and additional study leave days compared to the industry average, a testament to their commitment to the professional development of their employees.
Tailored SAICA Training and Development Above and Beyond
Despite the limitations in certain SAICA competencies, Watson systematically scheduled necessary NSAT courses and supplementary training, ensuring comprehensive development over the three years. I met all required SAICA competencies comfortably and was exposed to other learning opportunities beyond SAICA, be it all forms of ethics, POPI ACT, ISA update, or anything topical or relevant at the time. All training was done within working hours and so I never had “homework” like some of my friends at other firms did. Watson had an open door to any training suggestions if anyone wanted to pursue a particular topic. All trainees had to join the Westlake Toastmasters Club to bolster their public speaking skills, meetings took place every second Thursday from 7:30 – 9:00. Virtual or in person.
Emphasis on Work-Life Balance
Watson’s promotion of a healthy work-life balance, manifested in flexible working hours, a manageable workload, and a case-by-case approach to overtime, fostered an environment that safeguarded against burnout. During my article experience, I would say that 90% of my work was completed within normal working hours. This meant that I had my evenings and my weekends to myself most of the time which allowed me to have a life outside of work. Which for me, as well as many other millennials and gen-Z’s, value deeply.
Nurturing Firm Culture
The intimate setting of Watson Incorporated facilitated strong interpersonal relationships, fostering a familial atmosphere. Regular celebrations and team-building activities underscored the importance of a positive workplace culture. Another pro at being with a small office is that you get to know everyone who works there. I nurtured the relationships from the cleaning lady to the founder of the firm. Watson believed in celebrating each individual’s mile stones, be it professional or personal. As working adults, we spend most of our waking hours with our colleagues and so all these things were important to me and I’m sure to everyone else.
Diversified Assurance Services
Beyond traditional audit services, Watson’s commitment extended to providing agreed-upon-procedures and assurance services in various spheres. One aspect that I thoroughly enjoyed was working with attorneys and providing assurance over their trust account, in line with the regulations published by the Legal Practice Council.
Exposure to Tax and Accounting
The inclusion of tax and accounting responsibilities in addition to audit tasks provided a comprehensive experience, aligning with Watson’s goal of preparing article clerks for diverse career paths. During my time at Watson, I submitted several provisional, income , dividends withholding, VAT and PAYE tax returns. I even got to opportunity to object with SARS in accordance with the tax administration ACT as well as capture a client’s entire year’s transactions into pastel, process year-end adjustments and draft the financial statements. Watson aim to give you enough coverage in all spheres of assurance, tax and accounting so that, in theory, if you wanted to open up your own firm after articles, you have the experience to do so. I highly appreciated this as personally, I wanted to my career path move more towards a financial manager direction.
Transition into a Financial Management Direction
Acknowledging my career aspirations, Watson facilitated my transition into a potential financial management role after articles, by offering invaluable experience that aligned with my professional goals and fast tracked my career. I was allocated a client whereby I oversaw the monthly and year-end processes, from monitoring the salary control account (which was a challenge as they had weekly and monthly paid staff), to compiling and submitting their VAT 201 returns, processing depreciation and amortisation journals to producing quarterly management accounts and year-end financial statements where I would meet with the client and present to them.
Encouraging a Voice and Team Collaboration
The firm’s policy of encouraging article clerks to speak up and actively participate in discussions contributed to a collaborative work environment. Instances where opinions were challenged led to collective team discussions and mutual growth. There were a few instances where I challenged Watson’s opinion over some audit and tax related matters. This led to team meetings in the board room, collaborative research and discussions, and reaching a final unanimous conclusion together.
Proximity and Efficient Coaching
The close-knit setup of the audit team in a single office promoted effective communication and coaching, eliminating barriers and fostering an environment conducive to continuous learning. The audit department sat in one office so that members of the team (be it a clerk or the audit manager) was within earshot. I could therefore ask any questions I needed from my desk. There was no “barrier” where I had to schedule in a coaching call or walk around a big office.. Coaching and feedback, when I needed it, was always right there.
In conclusion, my experience at Watson Incorporated has been characterized by a combination of professional growth, diverse exposure, and a supportive work culture, setting a solid foundation for my future endeavours in the field of Chartered Accountancy whether in public practice or in business.
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Written by Jamie Hadley-Grave CA(SA)
