{ "media_type": "text", "post_content": "What's the difference between Consulting and Advisory?", "post_id": "590d47a152e7a40016f90029", "reply_count": 14, "vote_count": 3, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

What's the difference between Consulting and Advisory?

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

Dude you work there...

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Spelt very differently

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I was at Deloitte Advisory as an inter and full time. Here is my two cents. Advisory is all about : Compliance, Regulatory, Analytics and Internal Audit type of work.

Consulting ( Strategy) : It really depends on the firm but the work is related to Supply chain, Change Management, M&A, Cost Optimization...etc.

Basically Advisory is Risk Consulting NOT Management/Strategy Consulting.

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Specialized groups like corporate finance, real estate, cyber risk, business valuation, engineering and construction, etc. Can be specialized audit assistance or unique services like cost segregation or valuation. Usually experienced hires but not necessarily. Essentially, other professional services Deloitte saw opportunities to cash in on, not under the legal umbrella of consulting (human capital, Strategy, etc)

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What does compliance and regulatory etc. mean? Isn't there an entire audit team to do internal audit? How is that different from tax? I legitly want to know...

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Tech consulting specifically falls under Deloitte Consulting. Is in management consulting. I work in that service area

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I don't know about SOX being a driver, maybe 15 years ago or industries with little to no regulatory change, or cyber exposure. I also think that even within the definitions people have offered above, there is an element of strategy / management consulting in risk, though it is much less frequent and blended in / over by so much tactical risk work. For example, capital optimization is a core component of running a bank, particularly under constraints. How should the bank best allocate capital towards its businesses, given risk profile and returns of various products - and otherwise defined strategy? So there is some space where the water meets in certain industries. It's not super black and white.

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Where does tech fall into this at deloitte

Ya acn1 pretty much summed it up how it as EY. There's risk and there's PI within advisory, the latter is consulting in the more traditional sense, the former is risk consulting with a focus on controls, compliance, it transformation etc

Here's an example of the difference: On a tech implementation project, risk advisory would be the best at designing the segregation of duties and security in order to minimize risk. A tech consultant would take that design and implement it within the system. Can a tech consultant design the security? Sure, but advisory has more focus on mitigating risk. As someone above said, it's risk consulting versus management consulting.

What does "segregating of duties and security in order to minimize risk" mean/entail? Very helpful so far BTW :)

Basically, only giving users just enough access to do what they need to do to accomplish their jobs. It's also about splitting duties up between different roles within a system to minimize any individual's opportunity to commit a crime using company data. SOX is a big driver of requirements.

Same BS

I work in regulatory compliance risk in advisory. I focus on compliance program transformation projects, and we work with Consulting (mostly Tech, sometimes S&O) on lots of projects. My group is pretty specialized and tends to have more experienced hires, but that's not always the case (I'm a campus hire).

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Hi Everyone
I'm correctly working as senior association in R2R domain for 6 months YOE 3, with CTC of 3.35LPA in
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I want to switch to another domain which builds my career and gives me a nice package in the long run.
I'm really interested in US Tax, have tried applying in EY and but didn't receive a call.
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