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Bank or Audit Firm?

+3 Votes
Bank or Audit Firm?

Im a little confuse. Currently Im working in a Bank and it`s an ACCA approved employer but I think that my scope is limited in bank and I want to switch to an audit firm. What you say?

July 17th 2015 AN ACCA USER 150 Points

6 Replies

+2 Votes

yes its better to switch to audit firm.

July 22nd 2015 AN ACCA USER 180 Points
+2 Votes

Bigger Audit firm sometimes you may find there is specialization,e.g responsible for cash & bank auditing only without rotations.Go to small or medium audit firm where you can do all the work.

July 22nd 2015 AN ACCA USER 220 Points 1 Flag
+2 Votes

Auditors of banks and other financial institutions will be most affected by the current problems; it will be very difficult to determine the value of many assets held, and they face scrutiny from regulators looking at banks' capital-adequacy ratios.

But most businesses will be affected to some extent. A reduction in consumer confidence will affect sales, a lack of availability of consumer credit will prevent closure of many deals, and companies will face problems raising money for their working capital and long-term needs.

Many professional bodies and regulators around the world have issued guidance on the implications of the crisis. For example, in January 2008 the UK Auditing Practices Board (APB) issued a bulletin, Audit Issues When Financial Markets are Difficult and Credit Facilities May be Restricted, and the International Auditing and Assurance Standards Board (IAASB) has issued two audit practice alerts - in October 2008 and January 2009. The first was Challenges in Auditing Fair Value Accounting Estimates in the Current Market Environment, followed by Audit Considerations in Respect of Going Concern in the Current Market Environment.

The APB guidance identifies issues that need to be considered throughout the audit process, whereas the IAASB alerts focus on the problems of auditing fair value, especially when markets are illiquid, and going concern. All of the bulletins emphasise that they contain no new guidance - ie. that existing auditing standards still apply - but that they provide expansion in some areas.

Therefore i'll suggest Audit firm is better than a bank for working.

July 25th 2015 AN ACCA USER 14,370 Points
0 Votes
Bigger Audit firm sometimes you may find there is specialization,e.g responsible for cash & bank auditing only without rotations.Go to small or medium audit firm where you can do all the work.
July 22nd 2015 AN ACCA USER 220 Points
0 Votes

Audit firm, if an audit firm is from top ten firms of your country adds value to your career.

November 7th 2015 AN ACCA USER 200 Points
0 Votes

Bigger Audit firm sometimes you may find there is specialization,e.g responsible for cash & bank auditing only without rotations.Go to small or medium audit firm where you can do all the work & offcourse to the grade-A audit firm :) Big-4 should be the most preferable :)

February 12th 2016 AN ACCA USER 520 Points
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