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    Accounting "Independent Auditors"

    July 11, 2019

    Accounting "Independent Auditors"

    "Independent Auditors"

    Posted: 11 Jul 2019 12:12 PM PDT

    The worst is during busy season

    Posted: 11 Jul 2019 08:49 AM PDT

    Guys, it’s finally happened. I was sitting at my desk today, sat back in self reflection and said to myself, “Wow I fucking hate my job.”

    Posted: 11 Jul 2019 04:12 PM PDT

    PwC, KPMG, Deloitte and EY all fail to meet audit quality targets after string of high-profile failures

    Posted: 11 Jul 2019 03:29 AM PDT

    Which one of you guys did this to your LinkedIn?

    Posted: 11 Jul 2019 10:45 AM PDT

    Reported my senior to the partner today

    Posted: 11 Jul 2019 02:57 PM PDT

    Today, we were on call with client, and the senior/PM made us all look dumb by not knowing the job status at all despite constant updates from me and the rest of the team that the senior just didn't read at all, despite them being sent multiple times over during business hours. The senior is not managing any other projects right now -- I suspect they just don't care at all and think they can get away with it.

    For the past while, I've been having stress cramps at night that I've been having to pop painkillers for, been stress headaching through my work days, and been drinking too much because the senior has just been "delegating" things over and over and over to me despite me being booked for over 50 hours a week this entire month without this additional workload. It's not even busy season, this is supposed to be our slow season.

    After the call today, I just had a near-breakdown and took a solo lunch to cry in peace and decided to schedule a call with our team's managing partner. I made an itemized list of my concerns and slowly made my way through it. I'm still pretty worried about how things are going to be going forward, but he thanked me for coming forward and apologized to me for having to go through this situation and even if it only gets 2% better, having my troubles validated like that.

    I don't really have anyone I can share this with, so I figured I'd just write it here. Thanks for reading.

    submitted by /u/yungMED
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    Just about sums up my Becker experience

    Posted: 11 Jul 2019 09:24 PM PDT

    After 3 years I am out of public accounting!

    Posted: 11 Jul 2019 04:04 PM PDT

    Woot woot

    submitted by /u/linked2090
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    Which one of you did this?

    Posted: 11 Jul 2019 08:34 AM PDT

    When you roll on the a new engagement midway, and you can't explain the work done by the previous staff, but it now considered "your" area...

    Posted: 11 Jul 2019 04:07 PM PDT

    Public to Industry

    Posted: 11 Jul 2019 07:53 AM PDT

    This month's Wellness Challenge is gonna be a tough one

    Posted: 11 Jul 2019 01:42 PM PDT

    MRW my co-workers ask if I'm alright after a long, stressful day in accounting...(I sympathize with you all!)

    Posted: 11 Jul 2019 04:35 PM PDT

    Can I be fired from Big4 in London for having mental health issues?

    Posted: 11 Jul 2019 04:53 PM PDT

    Long post and rant, TL;DR at the end.

    To give background, I started working at one of the B4 in December 2018 and since then my mental state has just deteriorated. I have gone from having mild anxiety to being suicidal and having panic attacks, thinking they were heart attacks. This was all induced by the work place. Everyone keeps telling me that this is just corporate etc but I have worked before and this is unlike everything I have had to deal with. Some people are really nice such as my performance manager (PM) but generally I have found it the worst time of my life.

    After a month of working on my first client (which was an extremely horrific experience as my manager was an absolute asshat, any questions I would ask would be met with a sarcastic reply and a condescending tone), I had my first panic attack at work after my manager just had a go at me for asking a question on what I should do while waiting for the client laptops to free up. He just straight up told me I was lazy and I shouldn't have been sitting there doing nothing. This was after an already hellish morning when I walked in the audit room full of 24 people and no space, and no one bothering to talk to me to let me know where I could go instead. I sat on the floor until a someone else's friend came to work and they told them where to go. After my manager had a go at me though, I ended up walking out during lunch and crying for the next 2 hours in some random place behind until my partner came to get me.

    Going forward, I let my PM (who is my favourite person at work) know and got occupational health (OH) recommended workplace adjustments so I can focus on CBT and just work my contracted hours to have the time to apply techniques and do CBT homework to actually get better. But they have NEVER been implemented other than extra 2 days study leave etc which really don't help. I have always been treated differently by my in-charges for having those adjustments. I am no longer comfortable sharing with them what is the issue.

    I have found it very difficult to make friends other than the few people I started with who at least to some degree agree with me. I was the only new person starting in December in my department, so no one made an effort to include me in the department. But the worst part is that I have been booked on 3 busy season clients (year end audits) back-to-back despite having adjustments, while many of the December starters were allocated to interim audits after the Jan-Feb audits. My in-charges never seem to understand that I have adjustments, and due to my anxiety I have never been able to say no when they ask me to work til 11. Somehow my adjustments are only adhered to when they want to work from home and when they want to leave work on time.

    Today, for the first time, I decided to stand up for myself as I just got back from college start of this week, but have been working at least 10 hours everyday. When I mention that I cannot stay past 5:30 now as I also have exams coming up, I am told 'the work is enough for a day we didn't give you too much work etc' despite the usual 5:30 emails of 'could you please just do insert a full day's work before singing off for the day?'.

    Today I told my manager several times but she kept giving me more work, I was already feeling unwell as I couldn't sleep due to working late the previous night and had the worst headache (I get intense chronic migraines - made worse by long hours). She proceeded to get worse to me throughout the day, finding fault in work when there was none and claiming she fixed it, or pressing me to work on workpapers she herself had checked out. I ended up having the worst panic attack for full 30 minutes where I thought I was dying. I decided to get in touch with my HR representative who told me I should just tell her I can't work past 5:30 and leave and we can discuss over call tomorrow what I should do next.

    When I told her she got very confrontational and starting saying stuff like 'so what's your plan then, let's try to be a little flexible here, etc' it was all fine until I said 'of course I will do as much as I can but I am currently really unwell and in pain'. She then proceeded to ask me 'what's wrong anyway? Is it for a long time, are you getting treatment?'

    I feel so angry and upset after that. I just didn't expect them to behave this way and I just feel like all the progress I make at therapy goes down the drain due the toxic people and work culture.

    I stay up feeling guilty and unwell, thinking maybe I am making it up. But it's real and I am in a lot of pain. When I don't feel guilty I feel anxious that they will fire me. After my in-charge's poor behaviour and confrontation I am scared of going back to work tomorrow. I know she will make sure to make me feel worse. I just want it let it out and get some advice. I want to quit but I need to first find a job which I don't have time to do due to the work demands.

    So, to reiterate, is it possible they actually fire me because of mental health and my inability to meet 'business demands', while I am working at least my full contracted hours and while OH have made several recommendations for workplace adjustments which have not really taken place in practice?

    Additionally, if I were to leave with around 8 months' audit experience and as part qualified ACA, what should be my immediate next steps?

    TL;DR, joined B4 in London last December and have had the worst experience in terms of mental health. Even my workplace adjustments recommended by OH have not been recommended, and when sought, I get berated for trying to rely on them.

    Is it possible they fire me for being a burden due to poor mental health? And if I want to quit as a part-qualified ACA accountant with 8 months of audit experience, what are my best exit opportunities?

    submitted by /u/plantstastic
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    FAR CPA takers this quarter wya?

    Posted: 11 Jul 2019 08:35 PM PDT

    how was the test I already see the it was fucking hard posts so whats your take? Was it somewhat in line with becker? leases crazy tested?

    submitted by /u/cpabound24
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    Imposter Syndrome?

    Posted: 11 Jul 2019 04:36 PM PDT

    I'm probably just overreacting, but after a tough day at my B4 internship I can't help but feel a little stressed. I missed something pretty obvious on an excel document, seemed to be taking way to long and was basically told (for a separate assignment) that it should be easy and I should basically just get it after looking at PY.

    I havent taken an audit course yet, and feel like the other interns on my team have no problems with anything. I like the work and the engagement team but I cant help the feeling that Im gonna screw something up and mess up a full time offer if these little things pile up.

    Anyways, just needed to rant and again I'm probably overreacting after a rough day. I'm wondering if this is a common thing that most interns go thru, but idk.

    submitted by /u/dfire32
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    ASC 842 - the new lease standard

    Posted: 11 Jul 2019 04:33 PM PDT

    So friends, good friends, I was wondering if anyone currently working in industry, or maybe audit, would be willing to provide their company's adoption memo for ASC 842? By all means blank out any company specific info, I would just like a template and to see what they discussed. This would be the memo they provide to auditors covering how they interpreted the standard, what practical expedients they chose, etc. Figured it was worth asking....

    submitted by /u/Usernamechosen32
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    Growth in Internal Audit?

    Posted: 11 Jul 2019 09:22 PM PDT

    Starting off my career in Internal Audit. Potentially wanting to focus more on the IT side as well. Is there more potential growth if i go from audit to an analyst role or transition from IA to more of the IT audit side later on in my career. I've always loved IT but just want to know whats best later on in my career when i want to be set well off financially and have ample room for growth into a leadership role. Can some of you guys give me your honest opinion?

    submitted by /u/youfeelme1997
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    Opinion on salary?

    Posted: 11 Jul 2019 06:50 PM PDT

    New York/Long Island area. Fresh out of school 64k plus 7% bonus. Financial reporting plus GL work. I've seen conflicting salary ranges so I wanted opinions

    submitted by /u/Recruittheboot
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    FASB considering Goodwill accounting changes; Issued an Invitation to Comment

    Posted: 11 Jul 2019 09:49 AM PDT

    Yeah, OK.

    Posted: 11 Jul 2019 08:03 PM PDT

    2018 5471s

    Posted: 11 Jul 2019 07:30 PM PDT

    Are there any other international tax guys out there getting spooked that CorpTax hasn't released their 2018 5471s yet? It's already mid-summer so the large corporate tax payers with international entities are going to only have a few weeks to pump out hundreds of largely revamped forms with multiple new schedules. CorpTax has not exactly been transparent regarding when they will be available and whether the new schedules will be calculated or typewriter space. Thoughts?

    submitted by /u/UntilProvenGILTI
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    What would usually be considered a "complicated" 1040, especially at a small CPA firm?

    Posted: 11 Jul 2019 04:51 PM PDT

    Where do you usually draw the line between a basic and a complicated tax return?

    I understand everything is relative and there is a wide range. Assume I would be working at a small CPA firm in a high CoL city.

    submitted by /u/sushilover19
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    Target Schools

    Posted: 11 Jul 2019 10:33 PM PDT

    Hi everyone,

    ​

    This might seem like a pretty dumb question, so please forgive me, but I've been going through a lot of posts about target and non-target schools and no one really names which schools are necessarily the targeted ones. Could anyone shed light and say which schools are targeted?

    ​

    Background: I'm currently interning at a B4 firm (West/high COL) in Core Tax with a desire to switch into either FSO Risk Advisory or TAS. I also attend university in the West region.

    ​

    Thank you for any help or advice!

    submitted by /u/swat1469
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