{ "media_type": "text", "post_content": "EY fish: is it true that your spouses are subject to your independence restrictions once you get married? This seems pretty unreasonable. Thanks!", "post_id": "5c394a36d3171200183f4128", "reply_count": 29, "vote_count": 5, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

EY fish: is it true that your spouses are subject to your independence restrictions once you get married? This seems pretty unreasonable. Thanks!

like
Posting as :
works at
You are currently posting as works at

I don’t know about EY, but it is the case for PwC. I think it’s standard for all public accounting firms

like

Same for us too although we don’t have “independence” in the AICPA/SEC sense. Just strict COI policies. Same for my spouse who works in IB

like

Is the restriction only to audit clients or does it extend to some of these annoying restrictions like inability to use robo advisors and stuff like that? Is there a large list of restricted entities?

like

At PwC we cant use robo advisors. We have a list of approved brokerages we can use that participate in an integrated feed to our independence system. If you are uncomfortable with investment restrictions I would say B4 is not for you

Independence restrictions apply across a wide range of financial interactions, that at first don’t seem obvious.

An example of this would be the previously referenced Apple Pay balance or even such an instrument as a title policy that is obtained as part of the closing during the purchase of your residence.

Other examples, can be the company that holds the escrow balance for that same residence, any home equity line of credit (even if the balance is zero).

And to your original question, as to it applying to your newlywed spouse, the answer is yes, and in fact it was likely yes previously l, if you had been in active cohabitation situation or in other circumstances where there mutual financial activity.

Independence is real, its important and for the Big 4 its unavoidable, good luck to you.

like

Yup, that’s why I have to think long and hard about ever jumping to KPMG, wife’s company is an audit client of theirs and I don’t want to sell her shares since they appreciate so much

Nope not Amazon, they’re audited by EY not KPMG. Excellent guess though her company does begin with an A

Keep in mind you can’t force your spouse to tell you everything and you can’t control if they lie to you. Take that however you want

Request her to provide you with the list so you can check what you may need to dispose of and plan accordingly vs doing it at the last minute.

like

Every firm who performs external audit services has those restrictions, so certainly all B4. And they do not just apply to your spouse (they extend to your partners and if you’re named a trustee, etc). The restrictions are there because the firms must maintain not just their actual independence but also perception of that independence.

It applies to all audit clients but there are complex relationships there. For example, if an audit client has a significant business relationship with another company or invests into another company, they could also prohibit us from buying their stock.

There are also variations by level. For example, my restrictions are much stricter than they would be for a senior. And they extend to my SO. For example, I cannot be married to a CFO of a company we audit even bough I’m not the one auditing them.

Finally there are variations by action - stocks you can’t own but you may use their products in some cases, but you must report them. For example, we audit apple. I can’t own their stock, but I can use Apple Pay but I have to report that I have that account. I believe that is what you meant with the follow up question.

If you’re considering employment with a B4 and worried about the impact of this because you or your SO own a lot of stock, etc, you may request access to our detailed independence requirements and actual lists, so you can see how that would pang out for you.

Good luck to you!

Additional Posts in Consulting

Hello, I am a support teacher in an elementary school. I have a classroom library with an LGBTQ+ section. I would love to do a unit on LGBTQ+ history and/or people. Has anyone here done that in an elementary school setting? I admit, I'm afraid I would get in trouble which is so frustrating to say the least.

likeuplifting

tbh, i refuse to believe a single one of these memes isn’t actually made by a queer person. but i do love the headline

Post Photo
like

Surveying Primary Teachers

What would you like to see your Reading Specialist do in order to support you in the classroom?

And go!

like

Hello Everyone,

I have an internship offer from PwC FDD deals for summer 2022. I accepted the offer. But, for some important reasons, I want to move the summer internship to winter internship. If I ask them, is it something PwC will be willing to do? I really don't want to let go to this internship offer.

And, when would be a good time to reach out to them and tell them about it?

like

Hi fishes, Anyone working or has ever appeared for Amazon Online Assessment for Business Intelligence Engineer. Need some info on what kind of questions do they ask?
Topics mentioned in email are:
1. Statistics
2. Dashboarding
3.SQL
4.R/Python

like

Thoughts on Palantir long term?

like

Any forensic accountants here who do economic damages for litigation support? Have you considered going independent?

like

Hello all,
I am a newbie here.
Can I get 11 likes to unlock DM messages?
Many thanks in advance

like

Total n00b Rolex Submariner question — can someone explain to me why COMEX Rolex Submariners are so expensive compared to pre/post-COMEX Subs? COMEX Subs are worth even more (almost double) than the 1680 Red Submariner on most watch guides.

Post Photo
likeuplifting
like

I feel like my current title (Implementation Leader) is not attractive to recruiters even though my responsibilities are similar to what an internal consultant would do. Ex.Operational Performance Improvement, Execution on Business Transformation Initiatives, and Analytics. My employer does not have consultants so there is no “Consultant” title. I’m thinking of asking my boss to change my title, but not sure what title to suggest? Any ideas please? What title captures the above responsibilities?

like

When Coronavirus hit NYC mid-March my husband abandoned me to go to Arizona with his mistress (I didn’t know I was being cheated on!) It’s been an emotional roller coaster for me. I am also his sponsor on his green card via marriage. He has his conditional green card for 18 more months. I feel he used me for immigration. I’m starting a new job in 3 weeks. It will be a nice distraction but I am just not emotionally well. I am trying to go through the divorce process too. (Cont)

like

Any suggestions for a restaurant to rent out a private room for a bachelor party?

Hi All, I am looking for job opportunities in Canada ( especially Montreal) .Got Canada PR. Total years of exp-10. Expert in SQL, PL/SQL. Plus Python and Unix shell scripting. Design thinking enthusiast and Blue prism certified developer(RPA). Please refer.

like

Who has done IVF? And was successful the first try? I will be doing Icsi next month..

like

How soon does EY Law notify USCIS after an H1B employee leaves the firm? I am switching jobs and my wife is still waiting for her H4 to be approved since last July and not sure if that’ll be impacted.

like

Seeing a trend on LinkedIn of recruiters claiming to be victims of "unwarranted" public shaming by random connections. Earned criticism? Feels odd to see agency recruiters play the victim.

like
like

Hi Sharks!
Question for Data Engineering project managers. And applying for the same role as above.
I come from only Project Management and scrum background. I have a client interview and expected to ask stuff on Azure. Could someone help me out what level should i prepare? DP-900?

like

Guys, How soon will a lateral be considered for Onsite in EY.

like

Additional Posts (overall)

Work Secret Santa bought me a nerf gun... They get me.

like

Is it worth it to get MBA from M7 if I want to stay local and not travel because of family? Does the cost justify the ROI if paying 100% out of pocket?

like

At the end of the week I also end up with a bunch (50+) of open Outlook windows related to meeting invites. Basically, I look at my calendar, double click the invite then join the Zoom meeting. It takes me directly into the meeting and leaves the invite window open. Wash, rinse, repeat and by Friday there is literally one for every meeting I attended. Unfortunately, you can’t close them all together because it will ask you “Want to save your changes?” for every single one. Thoughts?

like

Has anyone ever made or know of anyone who made the move into political consulting/lobbying? Any thoughts regarding transition? Also any idea on pay? so many questions 😅

like

115k to 145k worth the move? I would be going from industry back into consulting. 

like

For those that have switched from Big 4 to MBB, how was the switch and any advice?

like

Marriott 🐠: any recommendations for a quick 1-2 night weekend trip in U.S? (Need to use free night certificate for hotel category 1-5). Thanks!!

like

Wtf, deltas new upgrade feature on the app is u have to request to be upgraded? I miss just being able to move my seat to whatever the hell I wanted

like

Hi all, I’m hoping to learn more about “independence” in auditing. I have an interview tomorrow for an Independence Associate role, and although I’m familiar with what is expected, I’d like to learn a bit more. If anyone can help here, that’d be huge! Thanks so much!

like

Our partner, who art unavailable
Hallowed be thy name
They project won
They work be done
Though not within client budget
Give us this day our billable hours
And forgive us our bench time
As we forgive those who take poorly timed PTO
And lead us not to industry
But deliver us to client site.
🙏

likefunnyupliftingsmarthelpful

Best place for fireworks in atl?

like

What cards do people have (can only do hotels on personal cards)? CSP has a good bonus right now, but is it more worth it to get a hotel specific card like Bonvoy Boundless?

like

Finally found the secret to everlasting 🟢 status: click in Outlook window and walk away!

like

About rolling off my project with no new project opportunity yet. I’m already getting anxious and can’t have a full night rest with the worry of not finding a project soon and eventually getting laid off. Although I tend to stress-out easily but this type of anxiety is different. Are others feeling the same way? Also over 90% chargeability and great reviews, but seems like that may not matter with the recent layoff stories I’ve read....

like

I am a new manager. To reward myself I wanted to purchase a new carry on. I have settled on the incomparable Tumi Aberdeen continental carry on. I will the be envy of the delta terminal tomorrow.

likefunny

Need a new carry on luggage. Don't care about the brand as long as its sturdy, fits overhead cabins and not too expensive. Any suggestions fam?

like

Switched my flight to leave 3 hours earlier. New flight is delayed for 2 hours and 45 minutes 😐🔫

like

Looking for serious advice:

How can I figure out why I was dinged from BCG at resume stage when I interviewed with positive feedback 1-yr prior? Interviewing for same level as before and had referral

like

Anyone else get rejected from a job and is immediately thankful that at least they didn’t get ghosted?

likefunny

What do you do when you have a psycho manager who makes you want to roll off the project asap

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy.

Already have an account? Log in

New to Fishbowl?

image with Fishbowl logo and arms reaching out for a handshake

Already have an account? Log in

By continuing you agree to Terms of Use and Privacy Policy.
Messaging rates may apply

For account settings, visit Fishbowl on Desktop Browser or

General

Legal