Why does every Big 4 audit partner list in their bios “I have over 20 years providing audit and advisory services to public and private client in addition to transaction support and public offerings” when audit practices literally do not participate in the advisory services and the M&A services are provided by TAS and accounting advisory is who supports IPOs?! Like the whole industry just allows them to lie? I’ve literally worked at the Big 4 and those services were always passed to others

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This gets the award for dumbest comment of the day. If you don’t know what is involved in supporting transactions via the audit, you really shouldn’t comment.

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And I’m laughing OP is at the manager level 😂😂 how?!

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Someone woke up on the wrong side of the bed

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They get credit for what they sell, not what they do

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There is audit support that goes into transactions and IPOs. While it is still auditing it supports the transaction. A few examples I can think of are carve out audits, audited financials that go in a registration statement, comfort letters.

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There is definitely overlap… both sides have their version of technical involvement within the scope of their roles. Mystery solved…

You have no idea what you’re talking about. Audit side of house often is brought in and could cover many topics on a deal. Registration statements, accounting topics, due diligence support, controls work. I’m in audit and working on a large transaction c2 for last six months.

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In advisory - I was on an IPO and worked with auditors daily

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You have limited view into the transaction mechanics being on the QOE team because your work is largely historical. Working as an operational consultant in transactions we often have to work with the auditors for go forward plans and to assess the impact of the transaction on audit and compliance matters.


Yes it’s not advisory in a consulting fashion but as a partner they’re only advising not actually doing the grunt work therefore they are advising on what is appropriate/ allowed and not.

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Why are you so salty?

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In audit and often participate in advisory engagements.

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public offerings can include issuing other securities than common stock through IPO. including offerings by private companies. which may require varieties of recurring review services.

EY1 missing the point of what I said.. I was in audit for 2 years im fully aware the income tax provision can be piece of an audit. I’m saying that they never list having years of tax experience when an audit covers tax.. but the partners list having 20 years of M&A advisory experience when in reality they do audit that could have impact from transaction.. if they audit an income tax provision they don’t necessarily provide tax services so they don’t list that as their experience. It’s weird that for M&A they don’t follow that same logic.

Bro at worst they’re just using the same type of language we use on our resumes

🤓👆”it’s not advisory services”

They probably "supported" advisory and other roles outside of their main function. Not fully handled it like an audit engagement.

Taxation is an off shoot of accounting. Accounting is the grandfather of taxaton

Based

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