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What’s the nicest thing someone has said to you?
Opinions on Utilization goals?
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How do you work at a big4 and ask this question? If your firms audits, you need to deal with independence.
Yes
Nope!
All audit firms do. Doubt if MBB and other strategy shops do that.
All big four regardless your group
Ours does but I ignore it. Odds are they wont find out.
Yes
Yep
I've given up. My money is stashed under my mattress.
It's Independence not "Independence". SEC rules, audit firms have zero discretion. This is why so many partners are into real estate as an investment.
Accenture No, but if you work for FS clients some may require you to declare holdings and pre-clear trades
@P3, Independence, got it.
@D3, you got me, we DO have an audit practice. However, many consultancies do not, and they are privy to inside information, so to mitigate risk for those firms, do those firms have policies about owning stock, and where stock can be purchased from?
@A1/A2 - thanks, that's interesting.
OP, sorry for being a smartass. It actually has nothing to do w inside info (mostly). It's because we have to be independent in fact AND appearance from our audit clients. Not a big deal for staff, you usually are ok if you don't work on the audit client. If you're a manager it's a little more restrictive. And for partners it's really rough, pretty much prohibited from owning anything we audit. If you are consulting staff can usually continue to hold stock in a co while you work on them, just no new sales or purchases w/in 6 months of engagement. It's a pretty serious set of rules, we can get sanctioned pretty hard by PCAOB for not managing this.