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In addition to being a fast and accurate typist (you should be able to type at least 70 WPM), you also need to be great at listening and spelling, and have excellent attention to detail.
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The adjustable arm on the copyholder aids legibility and maximizes the typing speed. There could also be an adjustable ruler and marker to help the typist keep their position when they are interrupted, clips to hold the pages in place, and a light. The copy can be hand written notes perhaps from an author of a book, a play, or a TV show.
The audio typist will have learnt to touch type at a high speed which means they can look at the monitor or keep an eye on a waiting area as they are typing because they do not need to look at the keyboard. A specialist player called a micro cassette transcriber (below) is used for playback of the cassettes to maximise the typing speed.