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 Big 4 Audit Life

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SpiderMon68
post Jan 6 2022, 09:30 AM

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What life?!?
TSLittle Red Apple
post Jan 6 2022, 12:40 PM

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QUOTE(Hades76 @ Jan 6 2022, 09:26 AM)
For me, EY and PwC are the bigger of the bog 4 audit firms. The bigger they are the larger the clientele and better your experiences with going to more clients and also having a bigger internal team. With that said, can be quite distant internally but that is how you perceive it.

Opportunity to go up is also there as there is a bigger pool to fill in all levels.

The professional certification, dont have to say lah. The big 4 will always push for this and support you as well.

For me after Deloitte was involved with 1MDB, I'll be a bit skeptical to join. Anyway, that my 2 cents.
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Ok thanks bro, I am still struggling to choose haha, wish God can lend me a hand.. icon_question.gif
gogocan
post Jan 8 2022, 02:05 AM

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True ..labor day also working
Blofeld
post Jan 8 2022, 09:34 AM

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Just apply all, see which one calls you for interview.

If given the choice, opt for PwC as the first choice and Deloitte the last choice.
fcuk90
post Jan 11 2022, 11:19 AM

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QUOTE(Little Red Apple @ Jan 4 2022, 09:25 AM)
Hey all bros and sis, will join big 4 as auditor newbie soon, have alot of doubts. I am abit concerned about what is auditor's life, and how long the working hours will be? Like from what time until what time, work late until what time? Weekends also need to work? I know auditor is hard, no work life balance, but heard some saying work until 3am in midnight? Is this true? Thanks!
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my only tips.
work smart and hard.


2022 will be my 8th year in audit and i enjoyed it.

Good luck.
NotCooll
post Jan 17 2022, 06:25 PM

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QUOTE(Little Red Apple @ Jan 4 2022, 09:25 AM)
Hey all bros and sis, will join big 4 as auditor newbie soon, have alot of doubts. I am abit concerned about what is auditor's life, and how long the working hours will be? Like from what time until what time, work late until what time? Weekends also need to work? I know auditor is hard, no work life balance, but heard some saying work until 3am in midnight? Is this true? Thanks!
*
Working hours will definitely be very long tbh. However, dont give up and be sad on this itself. There will be a lot of exposure that you will gain working as an auditor because you get to work with a lot of clients from different industries. So there is how you gain exposure which you cannot have in commercial. So once in, hold onto it for at least a few years to make the experience a worthy one before deciding to move on to other finance roles.

As to which big 4 to choose, well all of them are really not too bad among each other. It all down to what position and engagement exposure they are providing to you.
callmecool
post Jan 19 2022, 02:51 PM

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Forget about work life balance in Audit. It's tedious works and super long working hours including weekends. Unless you plan to not perform well or don't wanna learn much, then you can just chill and don't give a damn but surely of course you'll get a lot of scolding and hatred from your colleagues.
Money-
post Feb 12 2022, 02:34 PM

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Speaking about Big 4 , does anyone know how's the life for pentesters there?
davidletterboyz
post Feb 12 2022, 03:10 PM

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QUOTE(danielcmw @ Jan 4 2022, 12:26 PM)
This means working 72-ish hours straight; only going home to change clothes & shower..... but yea life as auditor is as such smile.gif
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Not from this area nor understand what does an auditor do. Why is it such a long working hours? Why can't there be some automation? E.g. software that can assist in cutting down redundant work? hmm.gif
danielcmw
post Feb 13 2022, 08:28 AM

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QUOTE(davidletterboyz @ Feb 12 2022, 03:10 PM)
Not from this area nor understand what does an auditor do. Why is it such a long working hours? Why can't there be some automation? E.g. software that can assist in cutting down redundant work?  hmm.gif
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Well, essentially the auditor works on behalf of the company/client shareholders in order to ensure that management is not being sohai with their investments from the accounting perspective biggrin.gif while also ensuring those same accounting matters are aligned with the relevant accounting rules/standards. Long working hours can come in many forms; client providing supporting documents to be worked on late... which then results in needing to spend time to audit the information provided while also working on the "next client's file" in the calendar so to speak since it's rare for an auditor to just have a single client at any one time unless that client is significant in size / complexity kind of thing; so the timetables and therefore timelines are pretty tight; so when clients provide information late, it screws it up & can only be covered with elongated working hours (this is one of the reasons lah)

So in Msia, a lot of entities simply aren't using a streamlined accounting system where all invoices (for example in the billing side of the entity) have a somewhat similar form of format; therefore it's pretty impossible for "digitalisation" to help ensure a sample size of selected invoices for vetting is indeed valid / matched with the actualised figures within the clients' accounting system. Digitalisation is only able to be employed if there's enough standardisation within the client's system and this is rarely the case since this would be incredibly expensive for entities to employ (which doesn't even improve their profit margins from a business point of vies) & is therefore mainly used in sample selection of transactions to be tested in order to avoid any human-bias in that selection. AI simply isn't "there" yet & thus the significant chunk of audit work requires human discernment & analysis in order to be reasonably assured that things are err.... "free from material misstatement" so to speak.

but this is just from my experience lah from several years ago, maybe things have changed but... doubt it lah from conversations i've had with current folks in the audit line recently mega_shok.gif


Blofeld
post Feb 13 2022, 11:42 AM

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QUOTE(davidletterboyz @ Feb 12 2022, 03:10 PM)
Not from this area nor understand what does an auditor do. Why is it such a long working hours? Why can't there be some automation? E.g. software that can assist in cutting down redundant work?  hmm.gif
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For example ah...

Although Ms Word has spellcheck function, we still need to read word by word (pairing up with another colleague to listen to me) literally to check for any spelling errors on the financial statements and notes to the financial statements. Often time, there are still errors not picked up by Ms Word.

Wait until the day lor when artificial intelligence/technology could surpass the cognitive ability of human beings.

This post has been edited by Blofeld: Feb 13 2022, 11:43 AM
SUSceo684
post Feb 13 2022, 01:50 PM

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QUOTE(davidletterboyz @ Feb 12 2022, 03:10 PM)
Not from this area nor understand what does an auditor do. Why is it such a long working hours? Why can't there be some automation? E.g. software that can assist in cutting down redundant work?  hmm.gif
*
From Tax side
There's a lot of manual work in macroed excel files.
Software to enable staff to have an easier life is available..thompson reuters and other big software vendor got sell. But licensing fees very expensive so gotta do it the hard way whistling.gif
davidletterboyz
post Feb 16 2022, 04:12 PM

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QUOTE(danielcmw @ Feb 13 2022, 08:28 AM)
Well, essentially the auditor works on behalf of the company/client shareholders in order to ensure that management is not being sohai with their investments from the accounting perspective biggrin.gif  while also ensuring those same accounting matters are aligned with the relevant accounting rules/standards. Long working hours can come in many forms; client providing supporting documents to be worked on late... which then results in needing to spend time to audit the information provided while also working on the "next client's file" in the calendar so to speak since it's rare for an auditor to just have a single client at any one time unless that client is significant in size / complexity kind of thing; so the timetables and therefore timelines are pretty tight; so when clients provide information late, it screws it up & can only be covered with elongated working hours (this is one of the reasons lah)

So in Msia, a lot of entities simply aren't using a streamlined accounting system where all invoices (for example in the billing side of the entity) have a somewhat similar form of format; therefore it's pretty impossible for "digitalisation" to help ensure a sample size of selected invoices for vetting is indeed valid / matched with the actualised figures within the clients' accounting system. Digitalisation is only able to be employed if there's enough standardisation within the client's system and this is rarely the case since this would be incredibly expensive for entities to employ (which doesn't even improve their profit margins from a business point of vies) & is therefore mainly used in sample selection of transactions to be tested in order to avoid any human-bias in that selection. AI simply isn't "there" yet & thus the significant chunk of audit work requires human discernment & analysis in order to be reasonably assured that things are err.... "free from material misstatement" so to speak.

but this is just from my experience lah from several years ago, maybe things have changed but... doubt it lah from conversations i've had with current folks in the audit line recently mega_shok.gif
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QUOTE(Blofeld @ Feb 13 2022, 11:42 AM)
For example ah...

Although Ms Word has spellcheck function, we still need to read word by word (pairing up with another colleague to listen to me) literally to check for any spelling errors on the financial statements and notes to the financial statements. Often time, there are still errors not picked up by Ms Word.

Wait until the day lor when artificial intelligence/technology could surpass the cognitive ability of human beings.
*
QUOTE(ceo684 @ Feb 13 2022, 01:50 PM)
From Tax side
There's a lot of manual work in macroed excel files.
Software to enable staff to have an easier life is available..thompson reuters and other big software vendor got sell. But licensing fees very expensive so gotta do it the hard way whistling.gif
*
Thanks you guys for the explanation and analogy. Now I understand why. notworthy.gif

Apek Wong P
post Apr 22 2023, 11:25 PM

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Just curious, is there anyone here work in KPMG as well... If yes, then we may have lunch at One Utama yo (If I am in the office lah) ahahahah.
gashout
post Jun 20 2024, 12:07 PM

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QUOTE(Little Red Apple @ Jan 4 2022, 09:25 AM)
Hey all bros and sis, will join big 4 as auditor newbie soon, have alot of doubts. I am abit concerned about what is auditor's life, and how long the working hours will be? Like from what time until what time, work late until what time? Weekends also need to work? I know auditor is hard, no work life balance, but heard some saying work until 3am in midnight? Is this true? Thanks!
*
how is your work going?

enjoying your work life?
hksgmy
post Jun 20 2024, 06:22 PM

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QUOTE(SpiderMon68 @ Jan 6 2022, 09:30 AM)
What life?!?
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The words Audit and Life don’t go together.

 

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