Audit vs Consulting

[wajahathussain25]

AOA to All the mates out there!

I'm Wajahat Hussain, ACCA Professional level student and currently having training from an audit and accountancy firm in Islamabad. I've almost completed one year in the firm as audit trainee and now I intend to persue my career in Consulting for good.

I need some guidance and critical evaluation of my very decision from the experienced fellows out there....

It will be so nice of you.

[zuiis]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by wajahathussain25</i>
<br />AOA to All the mates out there!

I'm Wajahat Hussain, ACCA Professional level student and currently having training from an audit and accountancy firm in Islamabad. I've almost completed one year in the firm as audit trainee and now I intend to persue my career in Consulting for good.

I need some guidance and critical evaluation of my very decision from the experienced fellows out there....

It will be so nice of you.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
ASALAMU ALIKUM
Wajaht im not able to answer ur question but i want to ask a question 4rm u if u dont mind bcz u have almost 1 year training in audit.
I want to know that which career path(Audit/Finance) an ACCA student sould choose in a firm and 4 future and how u will see the scope of both in currently and coming business situation bcz i gave an interview in a firm one of their representative said to me that there is less scope of audit than finance department bcz bussiness environment is changing plz any one help regarding this bcz i want to make my career in audit.Waiting for humbly advice
Further i want to know that what is best time 4 acca student to enroll in firm(PART II/AFFILIATE)and which firm i must apply(other than big 4) in islamabad

[wajahathussain25]

Dear zuiis,

I've spent almost a year in the audit department of an accountancy firm. What I've observed is that it's almost a recurring work at different clients and once you've audited some of the clients, you become familiar with the audit process and formalities and then you just add value to your auditing skills and develop professional scepticism while auditing.

With the passage of time, you're moved to more seniority level and more responsibility and authority is given to you. So, you learn how to communicate and how to deal with different situations. It feels great when you are auditing and you learn a lot at the client premises. That's what the audit is about.

As far your question about the comparison of finance and audit and your decision to opt one out of these two is concerened, I would say that if you do well in any of the two fields and build a good reputation and succeed in impressing the recruiters at the interview then you can get your desired job. But obviously, finance jobs are more frequently offered, because in every company there needs a finance department whether small or a large one, than the jobs in audit, be it internal or external in the firm. But every company doesn't need to recruit internal auditor because it depends on the complexity of the transactions and the risk involved along with other factors. And as far recruiting the external auditors is concerned, the firms retain the best guys after they become members. So, in the end I would ask you to think about career aspirations, you capabilities and then decide what choice to be made.

Clearly, if you join firm after qualifying ACCA it's best, bettter if after Part 2 and if you are passing one or two papers in a year, it's better to start training alongwith studies and concentrate both of them equally.

I hope I've replied your questions you asked...

I would love to have comments on the TOPIC as well as on the above mentioned issues from the more experienced fellows.

Regards,

Wajahat Hussain

[zuiis]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by wajahathussain25</i>
<br />Dear zuiis,

I've spent almost a year in the audit department of an accountancy firm. What I've observed is that it's almost a recurring work at different clients and once you've audited some of the clients, you become familiar with the audit process and formalities and then you just add value to your auditing skills and develop professional scepticism while auditing.

With the passage of time, you're moved to more seniority level and more responsibility and authority is given to you. So, you learn how to communicate and how to deal with different situations. It feels great when you are auditing and you learn a lot at the client premises. That's what the audit is about.

As far your question about the comparison of finance and audit and your decision to opt one out of these two is concerened, I would say that if you do well in any of the two fields and build a good reputation and succeed in impressing the recruiters at the interview then you can get your desired job. But obviously, finance jobs are more frequently offered, because in every company there needs a finance department whether small or a large one, than the jobs in audit, be it internal or external in the firm. But every company doesn't need to recruit internal auditor because it depends on the complexity of the transactions and the risk involved along with other factors. And as far recruiting the external auditors is concerned, the firms retain the best guys after they become members. So, in the end I would ask you to think about career aspirations, you capabilities and then decide what choice to be made.

Clearly, if you join firm after qualifying ACCA it's best, bettter if after Part 2 and if you are passing one or two papers in a year, it's better to start training alongwith studies and concentrate both of them equally.

I hope I've replied your questions you asked...

I would love to have comments on the TOPIC as well as on the above mentioned issues from the more experienced fellows.

Regards,

Wajahat Hussain
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

thanx wajahat its really helping

[wajahathussain25]

Dear Mustafa,

I agree with you that consultancy is all about creativity and audit is about following the rules and regulations set by the bosses.

Taking into account that you are an ERP Consultant, I would like to get to know more about the consultancy from you. Furthermore, Would you please elaborate your statement that "if you want to have accountancy future then stay with audit..."

Asking for elaboration because consultancy is a department of an accountancy firm. What do you say?