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Need to get out of Audit

 
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#0 Need to get out of Audit
 
BA283
14.05.13 00:00
 
It's less of a 'need' to get out of audit, but more of a case of knowing that audit is not really me.I get told by both clients and colleagues that I am not your typical auditor and that my skills are wasted in accountancy.I am nearly finished with the ACA but would readily drop it if it meant I could pursue a career path that really interests me.How easy is it to make the move from Big 4/ACA/Audit to Consulting? How often have you seen it happen?
 
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#0 RE: Need to get out of Audit
 
marsday
14.05.13 00:00
 
Do not - repeat [b]DO NOT[/b] - drop your ACA. It is a premier qualification and frankly more useful than an MBA. Stick with it until qualified, next step would usually be into assurance/controls type work, or you may be able to land into a finance function consulting role with a bit of legwork and networking.Do not drop your ACA - complete it.
 
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#0 RE: Need to get out of Audit
 
tom1
14.05.13 00:00
 
The easiest/best way is to do it internally. It's very very rare for Big 4 Consulting firms to take an auditor from another big 4 and train them up in consultancy and in the practices of their own firm. It makes more sense for them to use auditors wishing to do so in their own firm.I'd recommend speaking to people you may know in the consulting business, particularly the business unit you are itnerested in and getting as much information as possible. Once you've developed that network (and they have space) it should be easier to get a transfer or why not push for a secondment initially to demonstrate your worth?
 
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#0 RE: Need to get out of Audit
 
Bushy Eyebrow Partner
14.05.13 00:00
 
Agree with Mars, what do you want to switch over to consultancy for anyway? Finance is a profession, with a real career path and opportunities for progression where your skills and experience are respected and actually valued/required, as opposed to being trumped by some ramdom geography graduate who happens to have a bit of charm. FDs earn a fortune and the work is easy! They're also powerful and usually second in line to the CEO! Mars bar is right, stick with the ACA.
 
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#0 RE: Need to get out of Audit
 
Anon MCs
14.05.13 00:00
 
Mars and BEP are right.Appreciate you must be sick of studying by now, but the ACA is an excellent addition to your CV.It seems you want to get out of Audit and that's ok, but as you are nearly there with the academic side of things, stick with it!By the way, I know an Auditor and he gets to travel a fair bit worldwide (Global Bank he works for) and seems to be doing quite well. Is it potentially a case of the company rather than the career? Before any rash moves, it may be worthwhile talking it through with a decent career advisor / someone you trust and respect outside this company to really get into the nitty gritty of why you want to leave
 
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#0 RE: Need to get out of Audit
 
Camster
16.05.13 00:00
 
DO NOT drop your ACA. Once again, the man from Mars gives good advice.
 
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#0 RE: Need to get out of Audit
 
CheckingOut
17.05.13 00:00
 
The City and Consulting World is filled with people who finished their ACAs and then switched.1) Finish ACA2) Get the training etc signed off and status confirmed3) Network internally within your firm with groups you may find interesting (eg Corporate finance or consulting)4) Network externally with firms or companies in your target list5) Inhale and have loads of patience 6) Be opportunistic and strike when you see your chance.
 
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#0 RE: Need to get out of Audit
 
Hypothesis-driven
17.05.13 00:00
 
BA283,Many people have successfully made the transition from Audit to Consulting.Three anecdotal examples from my network:- Started in Big4 Audit from undergrad and transferred internally to Transaction Services- Started in Big4 Audit and transferred internally to Consulting- Started in Big4 Audit, left for MBA and started at MBB with the graduate classPoint is that it can be done. The internal route is likely easier. The external path may require a few stops along the way to pick up experience and/or position yourself at the right intake.
 
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#0 RE: Need to get out of Audit
 
BA283
24.05.13 00:00
 
Thanks so much for the comments. They are really insightful and have a lot of information that I can act on.One thing I was considering was getting the ACA and then starting on the grad scheme of a consultancy. It sounds extreme, but I am only 24 currently and in the grand scheme of things, quite young.Would you advise this is something worth considering? I see so many people trying to get out of Audit, but are trapped. Would starting afresh give me a nice, clean break?
 
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#0 RE: Need to get out of Audit
 
AnotherConsultingDrone
27.05.13 00:00
 
I would try and avoid starting again in a grad scheme but go for consultant role. I know they like to right off all previous experience but if its an internal move try and get some backing from a senior person.
 
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#0 RE: Need to get out of Audit
 
rudracus
20.05.15 00:00
 
I have done my ACA and then gone on to do several senior audit jobs across the world and now making a break into the COO function. I couldnt agree more with Mars and BEP, finish the ACA, it has far more ceridibility that you seem to be able to see at this stage, I speak from first hand experience. Also as opposed to other accounting degrees, it truly is a globally recognized credentialSecondly, I was just reading an interesting article on a UK IA forum where they interviewed Heads of Audit regarding their time in internal audit and they were all very complimentary of the diversity of exposure and soft skills it gave them.So here is what I would suggest:1. Finish you ACA2. Get some time under your belt in financial audit - goes a long way if you know how to read an annual report of a company - not just in long term personal financial decisions but also in terms of bringing a certain gravitas to a conversation when you are more senior and contemplating strategic decisions3. Potentially spend some time in consulting4. Find an organisation you like culturally and get into internal audit - this is an oft undermined paradigm shift in mentality that gives you a significant shift in perspective and actually adds a lot of weight to your resume - then if you want to, you can always shift to a business function or rise up the ranks of internal audit and make it to the C Suite - it has been done by some of the biggest names in the business
 
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#0 RE: Need to get out of Audit
 
anushi
06.06.15 00:00
 
Auditor are questioning the ideal time to exit Big 4 ponders. and worth grinding out of year. Depending on your economic situation, you might want to do so, STAT.
 
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