I just got an email from a client..at 3 am...good times...it feels refreshing to know that there are people on the client side who are working harder than us. Usually they check out mentally by 2, are on youtube until 5, and hit the streets right after. The gems that do stay later and work efficiently and know what they do, those are the ones who I'd like to communicate with, and not need a translator. I've had a controller of a software company once stop me midway through a conversation and ask me how SOP 97-2 (software revenue recognition in english) worked. Keep in mind that this was for a public company. After biting my lips trying my best not to laugh/cry, I explain the software guidance and hustle back to our conference room. I looked at my team and told them we were in big (bleeping) trouble. If the controller of a software company doesn't know how to recognize software revenue, we'll be spending more hours in the conference room than the hours egyptians spent building the pyramids in Cairo.
I'm trying to decide whether to audit financial services companies or non-financial services companies. What would you say are the pros and cons of either industries? Do individuals who choose non-FS have less career mobility within the firm or if they decide not to stay with the B4 after a few years? Really depends on what you'd like to do after (unless you really love auditing). If you want to a controller,etc. at a p/e firm or a hedge fund down the road, you'd want to go into financial services. The pay won't be too bad, especially if you get a share of the insane bonuses they dole out. If you want to audit industries with tangible products and want to get a better understanding of the operations of such businesses, then other industries are the way to go.In terms of mobility outside the firm, auditing other industries is the way to go since you have plenty of options when you exit the audit world. For example, in 2008, after Lehman collapsed, it was incredibly hard ...
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