Any Benefits If Leaving Big 4 Af… | CPA Exam Forum (2024)

FAQs

Should I leave the Big 4 audit? ›

Whether you joined a Big 4 as a springboard for your career or were set on making partner, we generally advise professionals to make a move around three to six years of experience, in order not to leave either too early or too far into their Big 4 career.

You're Tired of Working Late

The Big Four are notorious for their late nights. When it comes to work-life balance, they typically score low on employee satisfaction surveys. This is because their hours are long, and they tend to demand a lot. While a good job is a challenging one, there is a limit.

After passing the CPA exam, you need to complete the AICPA Ethics Exam and submit the results to the Illinois Board of Examiners. The board will email a letter that includes your certification number. Use this number to apply for a CPA license through the Illinois Department of Financial and Professional Regulation.

Washington CPA Exam & Licensing - Cost and Fees

After passing the CPA Exam, gaining experience, and completing the ethics exam, candidates can apply for the initial CPA license via the state board's online application services. The board will determine your eligibility and issue the license accordingly.

If you do not reasonate with the work and don't see a future for yourself in an organisation, it's absolutely ok to leave at any point of time. However, one year might be too soon to make that decision as it takes time to understand, explore and get used to the work especially in a Big 4.

In general, PwC and Deloitte are considered the most prestigious of the Big 4. If you ask most people about prestige, they'll probably rank PwC/Deloitte > EY > KPMG. This is reflected in pricing, for example.

Big 4 firms (EY, Deloitte, PwC, KPMG) are strategically promoting younger partners (average age 33-35).

While EY, KPMG and Deloitte have collectively laid off thousands of U.S. workers this year, partner layoffs are far less common in the industry.

The overall pass rate of the CPA Exam hovers around 50%, but how many people manage to pass all four sections—including three core and one discipline—on the first try? About 20%. Around 1 in 2 people will pass a specific section of the exam, and about 1 in 5 people will pass each section on their first try.

Can you pass all 4 CPA exams in 6 months? ›

Students, recent graduates, and people with plenty of time to study should aim to sit for and pass 4 sections of the CPA Exam in about 6 months. This would have you taking an exam every 6-7 weeks and studying about 22-26 hours each week.

There is no limit as to the number of times you may repeat a failed section. You may take any unpassed section of the CPA Exam year-round. Your only restriction is waiting to receive your score from a previous attempt of the same section.

As soon as you know that you have passed all four parts of the CPA Exam you may apply for licensure; there is no need to wait for your pass letter. Is an ethics examination required? Yes. However, it is not necessary to take the ethics examination until you are prepared to apply for the CPA license.

Additionally, many positions at the Big 4 require that candidates have passed the CPA. To help alleviate the stress of the important credential, it's recommended that test-takers seek out exam-specific support.

The FAR section of the CPA Exam is hard because it's the most comprehensive of the 4 exam sections, and it has a lot of math questions that are mentally taxing to get through. It has the lowest pass rate of all 4 exam sections and is considered the hardest CPA Exam section.

Can you break into investment banking as an accountant? We've published so many success stories from accountants that the answer seems to be “yes.” They were all at Big 4 firms and therefore had the benefit of a strong brand name; in some cases, they even had firsthand experience working on deals.

The audit profession's perceived impact on practitioners' work-life balance “translates as the expectation of long working hours, especially during busy seasons, which induce stress and anxiety,” ACCA said in its survey report. The situation is worst at Big Four accounting firms.

Technical Accounting and SEC Reporting

In addition to that, being a part of (or leading) a business's technical accounting team can mean branching out from your prior responsibilities at a Big 4, traveling on a more complex track of Mergers and Acquisitions, and derivatives.

A QUICK OVERVIEW OF THE FIRMS PwC is the largest by revenue and the most prestigious of the Big Four with a strong and established audit client base. Deloitte is just a fraction smaller than PwC in terms of revenue. Both firms have a balanced portfolio of services.