Audit to Corporate Finance?

ManwitaPlan

Hi, Im due to join the Audit department with one of the big 4 this year. Thing is, I think I'd prefer Corporate Finance to Audit.

I know its a long shot but how accommodating are big 4 firms in organising such a move? Would there be any chance of it happening?


The last thing I want is to ask and find out its not possible and then they question my commitment to Audit. Dont want to dirty by bib so to speak before I even start.

Disco Stu

I'd say don't specialise before you get a basic level of training in. Will restrict you later on.

hebeegb

I agree with Disco, the big four will tend to pigeon hole staff into certain areas, but you can move within them, my advice though is if you are newly qualified, you cant beat experience across the range of discliplines, from audit, accounts prep, tax etc..still nothing to stop you taking the audit appointment and requesting a move in 2 years or so, im sure it would depend on vacancies across the hall so to speak,

brutes

Some thoughts...Corporate finance is far far more interesting and real world than audit!! But---
- Not much happening in that field at the moment - its corporate recovery not finance at this stage-!
- Generally to get work in corporate finance it helps if you have a real interest in both accounting and business, want to know how they work, how they are financed, how can they get bigger and better, have solid business acumen, - ie this allied to technical accounting and financial/markets knowledge will be very useful
- Audit, regulation and compliance will be a boom sector, plenty of work in it for you for next few years...youlll get a good all round grounding , work on different companies, rigour, knowledge and a qualification - but you have to have the mindset for it - if you get bored doing the same type of work ( Albeit with different businesses - then look at other areas.
- If your Big4ing, then you can probably move into area pretty smoothly as the market picks up, it can be very difficult to get into CF if your outside the golden circle of Big4/D4 believe me!!

Running Bing

EDIT:Wrong Thread

ManwitaPlan

So the general consensus seems to be Id be better off in Audit?

I have a real interest in accounting and business and I have a good idea of the work done....I was hoping to go into the area because like you said I believe it would be more interesting and long term I probably see my career there.

If people think Audit is the better bet let me ask another question. When do you decide what area of audit you go into? Id much prefer dealing with business' rather than banks and financial institutions for a number of reasons. Will I get the chance to choose what area Im put into?

LightningBolt

Depends who you're with supposedly, PWC have their Audit evening in April I think and you choose three departments out of six in order of preference that you want to work in. I think doing the Audit will be beneficial in the next few years due to the increased regulation banks and financial institutions will come under.

Ideo

advisory (corporate finance) is completely seperate from the audit dept so if you chosen and accepted a position in the auditing dept then i think you'd find it very difficult to switch to advisory (CRI, PA etc..)

for the pwc application you put down all 6 sections in order of preference. sounds like you'd prefer cips, tice and bws as 1,2,3. Have a look at the website for info on the different sections, might help you in making your mind up

defiantshrimp

Like brutes said, CF is not exactly booming at the moment. I went through the Milkround at the end of last year. While I applied to Audit, a few friends applied to CF and basically were told they are not hiring or only hiring one or two trainees.

It's great that you have an Audit position even if you think you might like CF more in the long term. From what I can see, a lot of the Irish CF houses and brokers tend to hire newly qualifieds from an Audit background and you can also move departments within the firm you are in. I also did an internship in CF with an investment bank in London last summer and I came across a few Chartered Accountants (from Australia and England mainly) working both there and in other firms I interviewed with. So your options are still open for the future if you decide it is still for you.