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Difference in Big 4 and small audit firm - Part 2

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Old 03-11-2019, 10:53 PM   #9421
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Hi thanks for this! Really? That is why I am pretty confused as well, because my boss was telling me in the interview that this division provides fintech services to major bank clients so it sounded more of an external consulting role. The JD says a similar thing. It can't be audit as well right?

And also what do you think the chances are for landing a PO after completing internship in this division since it is more internal?

Apologies for bombarding qs just trying to know as much as possible so I can be prepared.

Thank you!
I did a google search and found this JD, not sure if its the role you took on:
Key Responsibilities
Core Business Services, Intern FinTech, Singapore
- Working with the management team to create concise research publications and presentations.
- Performing extensive primary and secondary research to build a detailed understanding of the FinTech target market, industry, company or opportunity.
- Analyze and synthesize research findings to develop valuable insights in line with the company and research project objectives.
- Maintain keen awareness of industry trends and emerging players in the FinTech ecosystem.

Doesn't sound like a consulting role IMO. Sounds like a research-heavy role instead.

With regard to your chances of landing a PO, I think 2 main criteria have to be fulfilled:

1. Good Ratings by your Superiors
2. There is a vacancy in the department/unit

I could be wrong, but I think if it is not a revenue-generating activity (Audit, Tax, Consulting), chances are there is limited headcount. Possibly due to reasons such as lower turnover
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Old 03-11-2019, 11:14 PM   #9422
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I did a google search and found this JD, not sure if its the role you took on:
Key Responsibilities
Core Business Services, Intern FinTech, Singapore
- Working with the management team to create concise research publications and presentations.
- Performing extensive primary and secondary research to build a detailed understanding of the FinTech target market, industry, company or opportunity.
- Analyze and synthesize research findings to develop valuable insights in line with the company and research project objectives.
- Maintain keen awareness of industry trends and emerging players in the FinTech ecosystem.

Doesn't sound like a consulting role IMO. Sounds like a research-heavy role instead.

With regard to your chances of landing a PO, I think 2 main criteria have to be fulfilled:

1. Good Ratings by your Superiors
2. There is a vacancy in the department/unit

I could be wrong, but I think if it is not a revenue-generating activity (Audit, Tax, Consulting), chances are there is limited headcount. Possibly due to reasons such as lower turnover
Hey Thanks for this yep that's the reason for my confusion. I believe my role is more research orientated being an intern but the dept. itself is consulting /advisory focused from what I understood from my boss. Also, in the JD it states:
"You will be a core member of EYs fully-dedicated, cross-regional, FinTech Team, responsible for advising current and prospective clients on new financial technologies, processes, and business models."

Thus, it sounded like consulting/advisory to me but haha not sure myself - gotta go through it to find out I guess. Thanks for all the advice! truly appreciate it.
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Old 04-11-2019, 01:40 PM   #9423
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black firm yes

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This is almost always the case for winter interns in black firm? Even if one does average for the duration?
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Old 04-11-2019, 01:51 PM   #9424
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This is almost always the case for winter interns in black firm? Even if one does average for the duration?
it depends on performance i would say. dont know the exact details but i have received PO from them before after completing winter internship.

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Old 07-11-2019, 10:08 PM   #9425
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What is the turnover rate for big 4?

I have one friend who is big 4 senior. He always look stressed and miserable macham like whole family die already. Big 4 audit really that jialat ah? He told me he work from 9 to 8pm during off peak season and until 3am during peak season. He said the people in the office all damn serious and soulless like robots.
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Old 08-11-2019, 06:01 PM   #9426
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Smile

Good day to everyone.

Just wanted to ask if anyone knows if the job scope for "Financial Services Advisory - Customer" at EY is very tech based and whether need background in IT.. appreciate any info

Thanks
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Old 08-11-2019, 07:28 PM   #9427
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What is the turnover rate for big 4?

I have one friend who is big 4 senior. He always look stressed and miserable macham like whole family die already. Big 4 audit really that jialat ah? He told me he work from 9 to 8pm during off peak season and until 3am during peak season. He said the people in the office all damn serious and soulless like robots.

i am offended. i have a soul!
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Old 08-11-2019, 09:47 PM   #9428
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I have one friend who is big 4 senior. He always look stressed and miserable macham like whole family die already. Big 4 audit really that jialat ah? He told me he work from 9 to 8pm during off peak season and until 3am during peak season. He said the people in the office all damn serious and soulless like robots.
Highly dependent on industry and client. Some work like dogs all the way, while others don't have much work all the way.
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Old 08-11-2019, 10:54 PM   #9429
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Highly dependent on industry and client. Some work like dogs all the way, while others don't have much work all the way.
Just curious, what are some of the industries with a lower workload?
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Old 08-11-2019, 11:12 PM   #9430
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i am offended. i have a soul!
because you have reached manager level?

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Old 08-11-2019, 11:53 PM   #9431
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Just curious, what are some of the industries with a lower workload?
Ok need to qualify a bit. It also depends on how much staff can be allocated to a client. Which indirectly depends on an estimate of the difficulty of the audit and how much is being charged to the client.

Other non-exhaustive factors:

1) Complexity of the group structure. Consolidation, FX, or is it just a branch.
2) Amount per transaction and number of transactions. A one million dollar transaction may be easier to audit than many small transactions.
3) Availability of information. Is it easy to understand the process flow? Do you have difficulty getting the information you need? Is the client nasty?
4) Audit methodology. Is there a better way to perform the audit procedures?
5) Partner/Manager. Some are particular about certain aspects of the audit.
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Old 09-11-2019, 03:19 PM   #9432
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i am offended. i have a soul!
because you have reached manager level?

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The guy from 1988 would be manager or senior manager, while the guy from 1994 should be associate/senior associate. Not surprising if these two experiencing drastically different lives.

Just tank 6 years and life will change. (but not necessarily for the better..)

What is the turnover rate for big 4?

I have one friend who is big 4 senior. He always look stressed and miserable macham like whole family die already. Big 4 audit really that jialat ah? He told me he work from 9 to 8pm during off peak season and until 3am during peak season. He said the people in the office all damn serious and soulless like robots.
My 2 cents is: You must realize big4 is really very big. Like hundreds plus people inside. Cannot just hear from one person and assume the whole company is like that.

There will be extremes cases. (i.e people who can 6pm go home, people who OT until 4am) The kind of portfolio you get is also up to luck sometimes. A lot of factors... your client, your boss, your subordinates, your own competence, the nature of the portfolio you get, the deadlines etc.

Not all of which are within your control...
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Old 10-11-2019, 12:00 PM   #9433
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Anyone has experience doing internal audit (IA) in a small to mid sized firm?

Can point out the pros n cons?esp for me who has no prior exp in IA,thank you☺️
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Old 10-11-2019, 09:09 PM   #9434
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The guy from 1988 would be manager or senior manager, while the guy from 1994 should be associate/senior associate. Not surprising if these two experiencing drastically different lives.

Just tank 6 years and life will change. (but not necessarily for the better..)

My 2 cents is: You must realize big4 is really very big. Like hundreds plus people inside. Cannot just hear from one person and assume the whole company is like that.

There will be extremes cases. (i.e people who can 6pm go home, people who OT until 4am) The kind of portfolio you get is also up to luck sometimes. A lot of factors... your client, your boss, your subordinates, your own competence, the nature of the portfolio you get, the deadlines etc.

Not all of which are within your control...
Pretty much. Some you can, some you cannot. But then your ability to persevere and do well even when all the factors beyond your control work against you, is what the longer term success is dependent on.

(FYI I'm not a manager or senior manager )
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Old 11-11-2019, 08:13 AM   #9435
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Anyone can share what it is like working in Big4 Australia, in terms of work culture, people, etc? My friend who is an Aus PR, managed to get an experienced audit associate position in the Melbourne branch.
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