I was in auditing (financial institutions, and gov't) for two years and could not wait to get out!! It was my first job out of college, I liked auditing alot, but it was crazy working 50+ hrs a week, every single week you are working on a new client, and there seems to always be a senior or manager are always pressuring you to be underbudget even if there are extenuating circumstances. It was an unbelievable amount of stress, and studying for the exam was virtually impossible for me.
Don't worry, the first year is the hardest! Everything is so new, and even though you've audited cash ten times before, its always different for every client, so you always feel like you are doing it for the first time. Trust me, its gets better, especially for governmental clients because the reporting requirements don't change that much, and after a while you start to memorize all the special compliance requirements. Not-for-profits get easier too, although every organization is pretty different from each other, so understanding the business environment for each one is always a challenge. Next year when you get sent back to the same clients again it will be so much easier!
Trust me, hang in there at least two years! In the private industry, if you have at least 2 years of public accounting then you're job opportunities will really open up. And if you can stay in public accounting until you make senior, then thats even better. After two years in auditing, i didn't have the exam done, and I still was able to get a job as a project manager. My friend had 1 year of auditing, but passed the exam, and she got a job as an accounting manager at a not for profit.
As far as REG, it is a monster! But don't let all the material intimidate you. Just stick to your study plan no matter what, and eventually you will have gotten through all the material. I highly recommend practicing sims. When I took it last window, I wasted a lot of time on the research questions and the other sims.
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