If audit firms are truly meant to be impartial when auditing companies, why haven’t regulating bodies regulated audit fees. That way the choice between firms would be based on service and expertise rather than fees. It could be something as simple as a base of the % of the average market cap over the last 3 years and then adjusted for industry or other factors.

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We could also be like South Korea and have mandatory audit firm rotations every 6 years

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What SM1 says. Also, if you think about the incredible lift to switch firms on both the client and the auditor, the quality of the audits will significantly decline give the lack of continuity and additional burn out. The bigger problem in the audit industry right now is quality because of turnover/understaffing and burnout. That would be greatly exacerbated by mandatory rotation. Cost out weighs the benefit. Although, if it was only a FS audit, I could see the argument. I definitely agree independence would be better, but it just wouldn’t be worth it, especially for SOX audits and Qs, not by a long shot.

Although our system is problematic, I think we do a decent job of catching most material issues and help firms ensure that their financial statements are reliable enough for investors. Is it perfect, no but it creates an environment where we are encouraged to be as helpful as possible to our clients.

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I definitely agree but the accounting/auditor world has surprisingly powerful lobbyists who will oppose any change. Unless we have another Enron, it won’t change.

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PCAOB has virtually no power.

I think it should be a random assignment every so many years among qualified firms. This would give smaller firms more opportunity and increase independence.

No matter what room I'm in, I have the entire firm behind me. Any situation you might encounter as a company, no mathow rare or complicated we, we have someone who knows how to deal with it. Smaller firms often don't.

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Well it’s well and good unless one of the big 4 pushes the market down by undercutting the other 3 as is happening in parts of Canada right now. Audit is a cost center for our clients.

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Hello fishes,

I have an offer from Pune so would be moving there in early March. Never been to Pune, my office would be in Senapati bapat road, please suggest the areas i can look for 2bhk and what usually is average rent there for the same. 15k would be enough?

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Would you mind sharing some of your favorite templates to create a social media calendar? General advice is welcome too 🙂

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Hello Amazonians.I want to be Data Scientists. Can anyone tell me what is the basic step or in which profile do I need to work? Currently I am working in Compliance Operations.I need rough idea from where to where I should I move to be a Data Scientists. I am bit confused.Please help me.

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Hi everyone! I wanted to share an awesome resource. Yoga Foster offers teachers lesson plans on how to use yoga and mindful movement in your classroom. You can also apply for grants for yoga mats!

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IL still taking their sweet time to release scores 🙄

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Grilled chicken with bell peperrs from our garden. The dipping sauce was spicy calamasi citrus. Baked beans on the side (missed the pic).

Post Photo
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Bro anyone please tell me about Carrier Global Corporation( AC Brand). I have offer from Jio as well.Both offering same pay. Monday is my joining date.

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25 but i feel like my city is suffocating me.. and I ready for new experiences or am i just running away from my problems?

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Check out my Instagram live Question and Answer about Piano, Flute and Violin lessons Sun June 6 at 7:30 my instagram page is helenes_notes! Last weekend I did a Facebook live on the same subject in case you cant make it in a couple of weeks you can check out my Helene's Notes Facebook page! If your interested in lessons feel free to call me at 516-474-6181

What's comp like for a pre-MBA associate at an MM shop?

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Is anyone familiar with the case study interview at AArete and how it goes?

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If you could work for any agency in the city, which one would it be and why?

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Take it from a reformed board game cheater: the only time anyone can ever be THIS sure their loss was illegitimate is when they cheated and still didn’t win.

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Do the north well homecare nurses and PT have to call the doctor when they need more PT visits and when they are discharged or do they have secretary staff to help them with that?

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Tips on preparing for business operations manager interview at Microsoft ? I have first round with the HM coming up, but recruiter has not been very responsive on what the process looks like

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Hi Fishes,
What is future scope of informatica MDM java developer?
Offer cmpny : Servicenow.
Yoe : 6 , java, spring boot,, microservoces and aws.

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Is Wipro completing bgv before releasing offer?

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Hello All.
Yesterday was my last day. Anyone else form ITS get laid off?

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Can I get 11❤️ so I can DM folks.

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Additional Posts in Audit Bowl

Hi everyone! I’m currently in the market for an audit manager position with a public accounting firm. Any firms that I should definitely consider? Any firms I should stay away from? I’d appreciate any recommendations! Thank you!

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New manager here. Looking for suggestions on any books anyone may have read on being an effective/good leader.

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Bit of background: I recently turned 25, have been an auditor now for 4 years (same firm from intern to staff to senior), and have given my firm and my clients 110% of me at all times.
Lately, I’ve been wanting to quit altogether (burning out) and try out a career that has always been more of a “dream”. I can’t be the only one feeling this way so I’m reaching out to my people - is this just a weird quarter-life crisis or is it actually valid & reasonable?

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Spent a year in external audit, switched firms and spent a year in internal audit/risk, and now I’m thinking about switching again and going to tax.... figuring out what to do shouldn’t be this hard

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Anybody know of a efficient way to remove accruals from a GL dump? Currently our process is to just apply filters, copy filtered data, and repeat until all our accruals are filtered out. Thanks!

Anyone need Becker’s CPA books all four part brand new. Not used at all.

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For those audit folks that moved over to a FDD/M&A role in Advisory, what do your exit opportunities look like compared to when you were in Audit? Predominantly Investment Banking/Private equity?

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OK I want feedback! Not from you guys, from my staff 😜 we don't have 360 feedback at my firm. Any staff here who can tell me how they would feel if senior reached out to them with a short survey looking at what they did well and what they could improve on? (we are no longer in busy season, would take probably 10 minutes per staff I worked with). Questions would likely be what did I do that was most helpful as a staff, what did I do that decreased efficiency or stressed you out, what have(cont)

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I set up an interview last week with a company for tomorrow morning, two 45 minute interviews back to back. Of course, today I heard back from my current company I would be getting a raise after having pay frozen since May. Unless it was a very very very good offer, I’m not sure I see myself leaving anymore. The interview is at 8:30 tomorrow morning - what would you in my position? I don’t want to break the connection with this company as I don’t want to have to rule them out in the future

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Is it me or does this busy season worse then usual?

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If any seniors from B4 are looking to make a jump to a boutique firm in the DC market, send me a DM!

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My senior confuses me. Why do we audit expenses the same way as revenue?

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what's MD salaries in big four and how long to make MD?

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Cetrom down for anyone else ?

What do you do with a Staff with ~1 year exp that legit won’t work. For example, you give them a simple task at 10am that should take 3 hours max, they ignore your check-in messages and then ask if they can give it you in the morning. They never ask questions. Morning comes and they still didn’t do it. When they finally do it, it is riddled with errors and clearly shows they didn’t try. Working under tight deadlines, this staff is killing me as I cannot rely on them at all. What would you do?

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I think the hardest part of this job is knowing what and how much documentation to add without spending forever

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Hey, any idea on the pay that Deloitte offers to AM Level 2 and 3 into Audit (FS) side ?

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Can we stand with the NBA players and boycott auditing tomorrow?

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Anyone in PWC Financial Services Assurance? Need a referral 🙏

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