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PwC vs KPMG

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Newbie
Nov 12, 2016
2 posts

PwC vs KPMG

Hi guys,

Any CPA designators or people who have worked in Big 4, or have a strong understanding of the industry and future prospects, please help!

If you were to pick between working for PwC in private client services doing review and compilation work vs working in KPMG in risk consulting (advisory) services, which would be better? I mean I really value the prestige of PwC especially if I plan to work internationally in the future, but I really would like to be a part of Audit and obviously neither are a guaranteed entry to audit. However, KPMG appears to be able to offer audit work in addition to advisory work, which is very appealing. Any suggestions in terms of future prospects? Feel free to PM me! Thanks guys!
15 replies
Deal Addict
User avatar
Oct 14, 2001
1754 posts
589 upvotes
GMA
Gotta love these firms getting green resources to provide "advisory" services. The only "advisory" services you'll provide is annual work for which you'll be asked to do SALY (Same As Last Year) type of work.
Sr. Member
May 24, 2007
552 posts
213 upvotes
I would go with KP. if you go with PwC, you can try and transition into the audit stream after 1 or 2 years. However, you will likely be asked to take a pay cut + demotion.

I should say that I have never worked in advisory. My experience has been in tax and audit.

Sadly, Compilation/review work tend to be looked down upon in the big 4/6 realm. IMHO, compilations are excellent experience and the skills you learn in compilations and reviews are transferable to audit files. Namely, the procedures that you perform in comps/reviews are really just analytical procedures in audits. Also, you will be 1000% better in tax than audit folks. In my experience, audit ppl's tax knowledge tends to be lower (especially the pubco folks since they are not allowed to do the tax returns)

Having said that tho... I think audit hours are a must if you want to expand your horizons/options after you get your designation. Otherwise you are limiting yourselves to non-audit roles at big/mid firms or tiny firms w/o an assurance practice. If you want to go into industry, industry prefers people with audit exp too.
Sr. Member
Apr 27, 2008
726 posts
19 upvotes
I first started off in Audit at a Big 4 firm. As soon as I completed my CA core audit chargeable hours requirement, after my first year at the firm, I ran as fast as I could and transferred to Risk Advisory Consulting.

In regards to the supposed prestige factor of PwC, it doesn't really matter which Big 4 firm you enter, as long as you make it into a Big 4. Once you have Big 4 experience on your resume, you'll be viewed equally as a "Big 4 alumnus" whether it be PwC or KPMG. Experience in KPMG Audit is just as well-regarded as PwC Audit. It'd be tough to find someone in the business world who knows about PwC but has never heard of KPMG.

As Jokkon said, review/compilation work is regarded as inferior in the Big 4 world. On the other hand, advisory consulting work is generally regarded as more prestigious than grunt audit work. Many articling students try to get out of Audit Hell asap (the Audit people are well aware of this) but it takes internal networking to transfer out of Audit into Consulting within the same firm. To make it work, one would need to get past two gatekeepers: first you need to find someone in the Consulting group to agree to take you in, and then you need to convince Audit group to let you out. Since many people hate Audit, the turnover is usually high in Audit and hence they are very open to people who want to transfer in from Risk Consulting.

To answer your question, I would suggest you to choose risk advisory in KPMG. Perform well in your first year and pass all the CPA exams the first go, then request a transfer to Audit. As long as your bosses in risk advisory put in a good word for you, Audit will love to take you in.
Deal Addict
Oct 18, 2014
2050 posts
925 upvotes
HK
As above, Consultant > Audit. If you do audit, any big 4 will suffice. If you do Consulting, pwc. Even better, Deloitte if it has to be a big 4. Otherwise MBB is where you want to target.
Sr. Member
May 24, 2007
552 posts
213 upvotes
wyf890 wrote: Hi Everyone,

Thanks for your responses! What are the chances of transferring into audit if I only start in the review path with say private clients? And, between the two big 4s that I previously mentioned, would a government job as a financial officer in say.. National defense be better? Please advise!
Do you have 3 job offers lined up?

What do you mean is better tho? Better lifestyle? Better pay? Nicer coworkers? Younger coworkers?...etc...

It really depends on what you want.
Newbie
Nov 21, 2016
95 posts
92 upvotes
wyf890 wrote: Hi guys,

Any CPA designators or people who have worked in Big 4, or have a strong understanding of the industry and future prospects, please help!

If you were to pick between working for PwC in private client services doing review and compilation work vs working in KPMG in risk consulting (advisory) services, which would be better? I mean I really value the prestige of PwC especially if I plan to work internationally in the future, but I really would like to be a part of Audit and obviously neither are a guaranteed entry to audit. However, KPMG appears to be able to offer audit work in addition to advisory work, which is very appealing. Any suggestions in terms of future prospects? Feel free to PM me! Thanks guys!
Get ready people! It's time for me to expose another fraud!

Look kid. I doubt you have any offers from big 4. Judging by the way you type, you probally just want attention.

What is yor background? How did you get these offers? Provide us evidence. Until then, Only idiots on this forum will believe you and take you seriously.

Peace. I expose lies for a living.
Deal Fanatic
User avatar
Jan 27, 2007
5116 posts
984 upvotes
T.
Better yet work with a smaller outfit and get grounded experience in all aspects without the headache of internal transfers.

Earning may be less upfront, but will catch up quickly.
Sr. Member
Nov 26, 2013
801 posts
729 upvotes
Winnipeg
User699930 wrote: Get ready people! It's time for me to expose another fraud!

Look kid. I doubt you have any offers from big 4. Judging by the way you type, you probally just want attention.

What is yor background? How did you get these offers? Provide us evidence. Until then, Only idiots on this forum will believe you and take you seriously.

Peace. I expose lies for a living.
I mean, the OP never explicitly said that they had any job offers. It seems like they're inquiring about possible career paths more than anything.
Newbie
Nov 21, 2016
95 posts
92 upvotes
ReaperEXE wrote: I mean, the OP never explicitly said that they had any job offers. It seems like they're inquiring about possible career paths more than anything.
If that is the case then I am sorry. I misunderstood.

The 2 positions he's asking about are quite specialized and extremely competitive.

I mean. I doubt an average experienced graduate would even have a .01 percent of landing these jobs. Kind of wierd way to ask a question unless you actually have experience in those fields.

Do you OP? Do you have experience?
Newbie
Jan 26, 2017
3 posts
McKinsey wrote: As above, Consultant > Audit. If you do audit, any big 4 will suffice. If you do Consulting, pwc. Even better, Deloitte if it has to be a big 4. Otherwise MBB is where you want to target.
Why Deloitte?
Sr. Member
Apr 27, 2008
726 posts
19 upvotes
jumpingjak wrote: Why Deloitte?
Deloitte is the only Big 4 firm which has a distinct Consulting arm. Traditionally, Deloitte has had a larger focus on consulting work than the other Big 3. You would likely be exposed to more interesting and a bigger variety of consulting work at Deloitte.
Sr. Member
User avatar
Dec 28, 2010
650 posts
298 upvotes
User699930 wrote: If that is the case then I am sorry. I misunderstood.

The 2 positions he's asking about are quite specialized and extremely competitive.

I mean. I doubt an average experienced graduate would even have a .01 percent of landing these jobs. Kind of wierd way to ask a question unless you actually have experience in those fields.

Do you OP? Do you have experience?
ReaperEXE wrote: I mean, the OP never explicitly said that they had any job offers. It seems like they're inquiring about possible career paths more than anything.
Funny how you talk about fraud and these two answers have the same sentence structure. What does it matter to you OP has jobs lined up, or are you just trolling?
.
Newbie
Jan 26, 2017
3 posts
VESTEGAARD wrote: Funny how you talk about fraud and these two answers have the same sentence structure. What does it matter to you OP has jobs lined up, or are you just trolling?
Kind of offensive and rude to accuse people of lying just because it's out of reach for him.
Newbie
Jan 31, 2017
74 posts
4 upvotes
Halifax
Deloitte has an entire consulting department completely separate from the other areas of the business. We aren't even allowed to go to staff parties with them. Its quite a large practice unlike anything the other Big 4 have.
Deal Addict
Oct 18, 2014
2050 posts
925 upvotes
HK
sardaukar wrote: Deloitte is the only Big 4 firm which has a distinct Consulting arm. Traditionally, Deloitte has had a larger focus on consulting work than the other Big 3. You would likely be exposed to more interesting and a bigger variety of consulting work at Deloitte.
Correct.

History lesson for the kids:
Anderson -> Accenture
PWC -> IBM
EY -> CapGemini
KPMG ->BearingPoint
Deloitte -> Braxton Consulting (and got cancelled literally at the 11th hour

In certain markets, Deloitte Consulting brings in more revenue than Audit/Tax combined. The culture/environment of both service lines are very different. Consultants have lavish events and social functions whereas the accountants tend to keep things more low-key and within budget.

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