Master in Auditing: Lara Kiehl - Two exams in record time

2024-05-06 After completing her Bachelor's degree at Leuphana, Lara Kiehl was clear about her career goal of becoming an auditor: she would also complete her Master's programme at Leuphana for optimal preparation. The part-time "Master in Auditing" programme at the Professional School offered the ideal combination of an academic degree with targeted preparation for the auditing exam. She was able to count on the support of her employer, RSM Ebner Stolz, as the medium-sized WPG has been sending students to this special study programme for many years. Her success confirms her decision: Directly after completing the three-year programme at the Professional School, the 28-year-old successfully passed both the auditing exam and the tax consultant exam and is now entitled to use both titles.

When the door slammed shut behind Lara Kiehl after the last exam, she knew: All the effort had been worth it. The Lüneburg native had not only completed her part-time Master's degree in auditing, but had also passed the extremely difficult state professional exam as a chartered accountant. "The degree programme with the associated revision course to prepare for the exam helped me significantly. We covered all the topics that were asked in the exam during our studies," says Lara Kiehl. The auditing exam is considered one of the most demanding professional exams in Germany. Between 70 and 80 per cent of Leuphana graduates pass the exam, a rate that sets them significantly apart from the average of all exam candidates.

For Lara Kiehl, the professional transition after completing her Bachelor's degree in Economics with a minor in Business Administration at Leuphana College went smoothly: after completing her Bachelor's degree in 2018, she initially started as an auditing assistant at the Hamburg-based auditing firm RSM Ebner Stolz. "Then, in 2019, I applied for the AuditXcellence scholarship that we were offering. I really wanted to become an auditor."

Master in Auditing: Lara Kiehl - Two exams in record time ©Mathias Paulokat
Lara Kiehl's successful professional development is also special because currently only around 20 per cent of auditors are women.
Ms Kiehl, you are a very successful graduate of the AuditXcellence initiative programme. What is behind this label?
The Master in Auditing programme is part of the AuditXcellence initiative, which was launched by the Big Four auditing firms together with selected universities with the aim of establishing an academic study programme with targeted preparation for the auditing exam. Leuphana was selected as a cooperation partner for the North, offering me the ideal part-time Master's programme for my career goal.
After starting your career at a medium-sized auditing firm, you decided to study part-time. Why did your employer support you?
 My employer RSM Ebner Stolz has been promoting participation in this study programme for several years now. This Master's programme teaches auditing, tax consulting, business management and legal skills. Thanks to the large number of lecturers with many years of professional experience in auditing, a close link is established with current topics from professional practice and the intensive and challenging examination conditions. Some lecturers are also active on examination boards for the WP exam, which definitely offers advantages. Of course, the high success rate of graduates in the WP exam resulting from the overall concept also convinced my employer of the Master in Auditing at Leuphana. They paid the tuition fees, released me from work during study and examination periods and my salary continued to be reduced.
What requirements do participants need to meet for the programme?
The programme requires a willingness to work hard and good technical knowledge. A specific entrance examination is also required. A key feature of the programme is the close integration of study and work. I worked for six months at a time and studied during the rest of the year. Employers also benefit from the programme, because we learn from theory for practice.
After completing your Master's degree, you successfully passed the state auditing examination. How do you dovetail your academic studies with optimal preparation for the state audit exam?
As the degree programme has special accreditation in accordance with Section 8a WPO, Leuphana graduates only have to write 4 exams in the WP exam instead of 7, and the business administration/economics and commercial law exams from the degree programme are credited in the state exam. This is an enormous relief, as you can focus on auditing and tax law in your preparation. The exam preparation in the "Master in Auditing" and the subsequent revision programme is very extensive, which is now motivating many students to take the StB exam after the WP exam. The workload was enormous, but today I am happy that I have both qualifications.

Lara Kiehl's successful professional development is also special because currently only around 20 per cent of auditors are women. "I really enjoy working in the industry. I am treated with respect and my employer offers me many working time models that will make it very easy to combine work and family life in the future," says Lara Kiehl.