Big 4 Auditing–What are the pros and cons of auditing in each industry group??

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  • #170926
    fizzymangoes
    Member

    I will be starting next Fall and am asked to provide my industry preferences. From experience, what industry do you prefer and why? I understand work varies depending on the client within the group, but was wondering if anyone can differentiate–

    What industries require the most hours?

    Which are the most fulfilling for you?

    Which industries have you come across the most interesting and / or complicated accounting issues?

    Is it best to choose an industry that is “growing” if I want to stay in public accounting long term?

    What industries do you see expanding the most?

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  • #344292
    Mayo
    Participant

    I only interned as an auditor and saw three clients: Two large ones and one small one. Just a few things I noticed in my limited experience and have heard from other auditors:

    -Smaller clients are usually better. Although a large client, like say Apple, might seem cool and glamorous, smaller clients give you a better overview of the firm's accounting much more quickly. I know an auditor who is a second year senior whose client is a F50 firm. All they've done for the past few years is Fixed Assets because the client is so large.

    -Some people hate companies that only have assets on “paper”. Think insurance companies, banks, hedge funds. Most of what gives them value are little pieces of paper. That can bother some people, and they would rather audit a client with machinery, buildings, etc. Personally, I've heard tons of people say they hate auditing insurance clients

    -One of my clients during my internship was an energy client. I'm very interested in the industry and it was a great learning experience. Find something you are interested in, and it might help when those hours get long during busy season.

    -Clients with year ends during Summer or whatever can really suck. You might have busy season Jan through March, then get rolled off to another busy season client a month later. Do that a few times, and it can really get frustrating.

    Mayo, BBA, Macc

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