Is it true that in EY FAAS that they will pull you onto an audit job if their is a need for it? From my understanding, KPMG AAS does not however.

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AAS is part of advisory, so it would be much less common (if ever). It is my understanding that FAAS is under EY’s assurance branch, so I heard this does happen.

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Unfortunately yes. You usually work on a technical aspect of an audit (e.g. lease implementation, business combination etc) but audit is audit so….

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Not super common and even less common now that FAAS is insanely busy.

Never heard of anyone being pulled for an audit job at EY FAAS.

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It happens, but from my 4 years with FAAS it only happened to me once so it’s not super common and right now there’s plenty to do within FAAS lol

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It actually can be quite common in down periods. Before Covid, I was on an audit for 6 months and I knew plenty of other ppl who were also on audits across the country. That being said, it’s not usually a regular YE audit so no controls and it can be slightly more flexible.

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Thanks for the info. May I ask which region you work in?

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Former FAAS PPEDD here. Yes this happens when there is a dip in utilization- which does happen, as FAAS/AAS/CMAS are cyclical businesses. It’s no different to other parts of firms where people are redeployed to busier areas of the business (eg diligence professionals being redeployed to restructuring practice during a downturn). It’s not specific to EY, and the alternative is headcount reduction… IMO redeployment for a short period is preferable than cutting heads.

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At one point they had one of their senior faas partners as the lead audit engagement partner. Talk about tone st the top. While it may not be common now, if market slows down, they will push people to audit to keep them busy.

If non audit work dried up you very well could end up on an audit but not very common.

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