{ "media_type": "text", "post_content": "What's the real difference between Advisory and Audit? As an ongoing intern to advisory with DT, I'm curious for unfiltered thoughts.", "post_id": "591df13445769b0010e9bff7", "reply_count": 10, "vote_count": 2, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

What's the real difference between Advisory and Audit? As an ongoing intern to advisory with DT, I'm curious for unfiltered thoughts.

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

Advisory is more akin to consulting (i.e., you're advising the client). Work is project based and you're usually helping clients through specific issues (how to account for a transaction, process improvements, providing audit support, etc...). Audit is a compliance function wherein you are auditing the records of a company in order to provide reasonable assurance determine whether the financial statements

like

Cfos are from finance controllers are from audit . Auditors like to think they will eventually become cfos

like

*reasonable assurance that the financial statements are free of material misstatement

like

Most CFOs I know are ex-Audit

like

Echoing that more f500 CFOs started in IB than audit

like

Work in audit is focused around recurring clients where you perform an audit annually and possibly interim reviews quarterly (if public). You deal a lot more with testing shit to see if the amounts are appropriately recorded

Audit teaches you a ton your first few years and gives you a very solid understanding of how businesses work, but advisory will provide better exit opportunities in the long run (especially if you have a few years of audit on the resume before transferring to advisory). I personally find advisory work much more interesting.

^What companies are those CFOs from? Most CFOs I've seen have finance backgrounds. Controllers are more audit, but CFO is more of s finance function. Just take a look at the backgrounds of Fortune 500 CFOs (since they're easily researchable via google).

Yeah, I see CFOs mostly from finance, most CEOs come from finance/marketing, and controllers come from accounting/audit.

Difference = $$$

Related Posts

anyone hiring a strategy intern/ jr?

like

Am I making a mistake? Thinking about signing with Strategy& and giving up my 2nd year bschool reimbursement ($80k) from my internship.

like

RIP Rishi Kapoor. Mera Naam Joker will always live in our hearts. Was really looking forward to the remake of “The Intern” with you and Deepika. Forever a pipe dream. Will miss you.

like

Little sister is starting her internship soon. Will be making some decent money. What financial advise can I share with her? Should she open an IRA account or any other account? Will have about $20k-$25k in student loans when she graduates college. Very minimal savings so far

uplifting

Should I shave my beard for my first day? I was told from my past internship in finance that it’s a good move but I don’t wanna shave

like

Anyone from KPMG willing to refer me for a advisory summer intern under digital lighthouse? Worked at deloitte for 2 years top performance, going to masters now. :)

like

Some intern really messed up 😤

Post Photo
likefunnysmart

Deloitte 🐠 What's a fair pay in Canada for an incoming BTA from a top school in Canada. Have past internship exp and an engineering degree. Don't have stellar grades but got some other leadership experience. Also female.

like

An intern I manage is kinda slacking.. signing on late and I don't see the progress I want to see. I don't want to let them go, but how do I help them become better?

like

How many rounds are there typically when interviewing for an internship?

Overheard a female senior making a pass at a male intern today. God damn people.

like

Have you ever had a crush on the intern? Women is a manager and intern is a guy?

like

Anyone know about DDB’s SF internship program? I applied 2 months ago but never got a message

like

Had an intern whom I could not recommend for hire. She didn’t report to me directly so I never gave her feedback directly. She just asked if she can list me as a reference How would you respond?

like

Do you count internships in your years of experience? What if it was a long internship that didn't feel like interning and just felt like full-time but was labeled internship?

like

Any NYC CD’s who have time to grab a coffee and take a look at our book? We are a junior team from the Netherlands. We just finished our internship at Grey and are on exchange at the SVA.

like

I need to know if I’ve pigeon-holed myself. I have an undergrad in music business, and got a lot of good experience then. Worked in live events for 4 years before returning to law school, intending to practice in entertainment law (specifically music). Got a summer internship at a boutique entertainment firm, but no offer due to the small market. Moved to a larger market, but I’m not in one of the “hotspots”. I’m in-house currently, and have moved up quickly. (Cont.)

like

Have been with big D for 2 years. Got an offer to a company I hold of high value for an 'internship' with potential to full time. Really on the fence. Anyone done something similar before?

like

I am an intern and about to start my tax internship this summer. But I am really interested in doing advisory and not tax, what should I do? I don’t wanna ruin my chances of getting an offer

Heard a rumor that PWC is cancelling their internship program but giving them full time offers. Can anyone confirm?

like

Additional Posts

How do you import your Amex charges into mercury?

like

Did anyone make the switch from one b4 to another? Did you successfully transition/assimilate into the new b4? To those that did, do you recommend it? Any downside?

like

Help & suggestions please. I don’t have parents and recently had a kid. I am having trouble in recovery and my daughter is a preemie. I am going back to work in December but can’t send kid to daycare due to health. My aunt who raised me wants to visit and help me out , see places too. With the travel ban going away , can she get a visitor visa so that I have someone reliable in the house along with the new nanny. Are visitor visas possible to get now ? MIL is another option but she is aged.

like

How old were you when you made $1M? Age, title, city - also this can be cumulative not like yearly income.

funny

Flying out of newark for first time tmrw morning 8am (I'm an LGA gal normally). Terminal C, have precheck. Cannot miss the flight but also love my zzzs; any advice on when to get there?

I can't wait to go back to the classroom because....

likehelpful

My tech client wants a “Think Different” type of manifesto ad that will run for a year and magically increase their diversity hires while publicly making them look like (cont’d)

like

Does anyone know the process for applying/changing agencies within Publicis Groupe? What is the typical salary bump?

like

@EY fishes: What are some EY benefits that I should definitely take advantage of? Joining the NYC office soon.

like

Hi everyone, looking to get into 3 of the big 4. Came out of PwC but need help. Also looking for recruiters that have been helpful in the D.C. area. I would love to get back to work but need help?

like

Does Chartis have alt travel? I know they have a different travel schedule than big 4, so wondered how that works

like

Feeling that people are optimistic that pandemic will end around the summer. I have been working from home since pandemic and really don’t want to go back to office ...wanted to do a survey here. What is your firm’s policy on remote working after pandemic?

like

Quick Delta question - if I earned status this year, do I have until Jan 2018 to choose my choice benefits?

like

Reconsidering my Marriott loyalty after the merger and data breach. What is the best hotel program to go after for 2019?

like

Stern/Ross/UCLA for MBB?

like

I've been in the world of consulting for several years; amazed at how much more analysts and others feel the need to be constantly utilized. Seeing posts about how holidays impact the metric (cont'd)

like

On H1B with approved I140 - Have 2 offers in hand - Publicis Sapient & Avionos. What would you suggest in case you are familiar with both of these companies?

like

Hi, any inside of a typical salary for a team leader of midsized quant teams -around 30 people?

like

I’ve been burned by the stock market before trading options (when the market bottomed out in 2016) and I learned my lesson on recklessly speculating on spikes and dips in the market. Anyone else feel like this situation is gonna create a class of retail investors who are over confident in the “ease” of timing the market, without doing an research, after all this dies down?

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

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal