Will auditing eventually be conducted electronically using AI? What does the future hold?

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Some aspects perhaps. But there is NO adequate substitution for human interaction and critical judgements.

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Lots of pain for the profession if we don’t modernize more quickly and get more in touch with our stakeholders

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80% of what we do as auditors can be automated and performed by AI. And that is where the profession is headed. It’s the remaining 20% that requires judgment, is where we will be spending our time going forward.

The biggest economic impact of this is going to be a shift in the billing model for accounting firms. It has to move from a T&M model to a value-based model.

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How would you assess value for an audit

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Curious to see what kind of travel benefits are typically offered?

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Travel overseas a lot with Korean Air, but it will no longer be a travel partner for Chase. Might just gonna downgrade my CSR to unlimited/preferred and open Amex platinum. Thoughts?

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Any insight on CAIA? Difficulty and whether it impacts salary?

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Anyone have morning sickness in first pregnancy and not in their second? I’m ~5 weeks now and so anxious waiting for it to happen! I had pretty debilitating sickness weeks 6-17 last time.

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Do any of you work from home women have a standing desk and treadmill setup? Saw a post today on LinkedIn and it made me curious. Wondering if it’s really sustainable and if the treadmill makes a lot of noise.

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OOOOHHHH man! This stuff is GOOD! It's has the initial spice of regular Westward, but then has a nice malty finish afterwards. So good!

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Working remotely until next year! Who’s in? Lol

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Anyone looking for referrals for the following roles Société Générale can connect with me

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Too much noise out there - can someone confirm or deny whether the US Government funded gain of function research related to Covid?

likehelpful

Another 4 years...I don’t think I can make it

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Any product managers/engineers on this bowl, working on Fosfor?

I wanted to know a few general questions about this unit, like progression, WLB, salary slabs, etc.

Just graduated! Can someone at Apple give me a referral?

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Copywriters- when you’re done with copy and your art director is still knee deep in hours of pushing pixels - how long do you stay with them before you bail for beers?

likefunnyhelpful

I made Peruvian Lomo Saltado the other day. Recipe from Tasty but 3TB of vinegar and 3TB soy sauce for more flavor. Easy and delish!

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FCB NY is having a summer internship program, beginning June 1st. Can we expect other agencies in NYC to start hiring then? People who live in NYC, when do you expect things to return to normal?

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Hi Fishes :)

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Nasdaq and Stocks want to make a double-top here. At the moment, hard to be short with this momentum. But, a break of the extension will mean a nice retrace and a move back to our lows of the year.

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Anyone here buy a rental property before buying their primary residence? Moving to a HCOL city, thinking of buying a rental property before I leave, but have been advised to start with a primary residence first (for experience, getting a first time homebuyers loan, etc).

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Any one have insight on salaries at NYDIG? Partner is interviewing there and there is no real info on salary ranges that I can find. It’a for a compliance and regulatory role but looking for any number to benchmark against

Best dog bed for a small puppy? Will go in their crate.
Thanks, all!

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Additional Posts in Partners in Accounting

How is the current madness around Omicron affecting your firm? Are you implementing or changing policies to address it? Know this is a touchy subject, just taking a pulse.

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Did you make a "Resolution" for this year? If so, what was it? I'm working on spending more time with my family, and staying away from tech to the best of my ability on Sundays.

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🎇What’s your biggest win from 2021?

Drop it below, let’s celebrate 🥳

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Where are all the accounting professionals going? Competitive pay and benefits aren’t enticing enough. People want work/life balance but how can firms provide that when the workforce supply is so low yet demand is at an all-time high. If technology is the answer are there firms that are successfully implementing solutions?

Have you noticed inflation and the general chaos we're moving through affecting your business and firm? Just asking for different perspectives here, not a political discussion.

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What's your best advice for someone who wants to make Partner and is early in their career?

likehelpful

What are some key ways you balance stress and not taking it out on others/family? It's something I'm always working on but none of us are perfect. That said, I've made vast improvements. During the winter it's always harder as I feel many of my outlets are limited [like golf etc]

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Anyone transition from a technical tax guru to a rainmaker, later in their career?

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I’m considering joining EY in London. Currently at a boutique consultancy. I joined Fishbowl to try to get a sense ‘from the inside’ of the Big4 as I don’t have close contacts I can ask. I’ve seen a lot of griping in the other channels from more junior staff about comparatively low pay, EY not keeping up, clunky tech, etc. Is that just normal / expected grumbling? Would be really interested in the Partner perspective on this. Feel free to DM if more appropriate. Thanks!

likehelpful

I work a midsize regional firm and, no surprise, we are hemorrhaging staff. And it’s the good ones leaving. Some for family offices and industry positions, which I can understand. But others for smaller accounting firms as staff and seniors which just seems like a career killer to me. I’m convinced we need to do retention bonuses, raises, and recruit new talent by paying above market. Of course I’m a younger partner and don’t have the pull to actually make this happen. Thoughts?

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Vaccine mandates over finally. Except for the unconstitutional hypocritical NYC mandate.

likesmart

I started a firm with three other colleagues about a year and a half ago. We all came from the same bigger firm and now obviously we are considered a very small. We want to make our first hire and hire someone for around $100,000 as a manager to manage around $200,000 of work. They came back at $120,000. After taxes and benefits that’s $150k to manage and prepare $200k of work. Anyone own a smaller firm who can share opinion? How much work should one manage for that kind of salary?

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What does everyone think about the EY news?

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Any firms that use CCH make sure your invoices are being checked carefully. We just reviewed ours and were over-billed the last 2 years. We were supposed to have discounts and the math wasn’t even correct across for the amount times the discount to the amount billed. The worst part is our rep then gave a bullshit story of how the list price was incorrect on the invoice but the amount billed was correct.

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What are the partner buy in at the B4?

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Does everyone have a vacation home EXCEPT me? Chime in — good investment/bad? How often used? Kids? Pets?

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Any large firms include directors and non-equity principles in the pension plan?

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What is the comp model for partners at A&M

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Does anyone know what the payout plan looks like for non-equity partners at EY in consulting/advisory if the split goes ahead? Please DM if not comfortable posting here.

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