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Audit to Transaction Services | Big 4 Interview Questions

Audit to Transaction Services

We often get asked here, is it possible or easy to transfer from audit to transaction services? Well the short answer is yes, it is possible and happens frequently.

Just as a quick background for those who are unfamiliar with what transaction services is, it is a service line that KPMG, Deloitte, PWC and EY have that is focused on providing services when companies do transactions, transactions being acquisitions, sale of businesses, raising debt or equity, etc. The main area of work in this for the big 4 is doing financial due diligence. And they love auditors as they have a perfect background for doing due diligence. Financial due diligence is basically assessing the quality of earnings of a company, to make sure that there is nothing”fishy” in there and red flag any potential risks. For example, maybe the company has some liabilities on the balance sheet that are much higher than reported, and the acquiring company would want to be aware of this and would hope that this would be found out in the due diligence process.

Transaction Advisory services is a popular area because you get to work behind the scenes on large transactions that are often in the news and have the inside scoop, but more importantly most people see it as a great stepping stone to other financial jobs, particularly investment banking or equity research.

So how do you go about making the transfer within your firm, or perhaps to an outside firm? Well the three most important things you can do it:

1) Be a top performer – If your firm needs new hires for their transactions team they will want to take the top performers, so it is a given that you need to be work hard and do a very good job

2) Type of work – try and get involved in audit projects that are related to acquisitions, such as post acquisition/merger audits etc.

3) Network – as with any job seeking networking is important and here you are in a great position to network with people already at your firm who work in the transactions team. Get to know them, also through the social events that KPMG, Deloitte, EY and PWC frequently. That way you can get to know if they are hiring, but also just let them see you’re a likable person, as they’re going to want to hire someone who they get on really well with.

So anyone seeking to move from audit to transaction services, it is very possible and happens frequently so just remember the three tips above to start with you you’ll be in with a very good shot.

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