Tax vs audit personality

Here are their responses. I kind of blindly chose to intern with the tax department with the idea that an internship setting was a great way to temporarily try it out. It ended up being a great fit for my personality. Personality, comfort zone and career goals can help direct you.

Individuality or Team Environments.

Tax people tend to work independently from one another within their experience level. To contrast, the audit group typically functions as a team. On the public accounting side, whether you start in tax or audit, they’re going to start you out between $50and $5000. Audit = Logic, evidence, reason Audit Pros: You tend to work in teams. There are a LOT more audit positions than tax.

In recent years, the audit industry has grown. Internal audit , IT Audit , and new PCAOB regulations have greatly increased the number of positions available.

In all seriousness, the tax vs audit dilemma is a pretty big decision. I’d like to say that there are opportunities to switch back and forth later on in your career, but the fact is once you start down one path, you usually don’t switch sides. Is audit better than tax? What is the difference between tax and auditing? How does a tax accountant work?

You could be in the client’s warehouse counting inventory and viewing the creation of their products. OK, so you’re good with numbers, and you’ve decided accountancy offers you real career prospects and an opportunity to progress. But with so many different roles and specialisms, from auditing and bookkeeping right through to tax and management accounting, it can be difficult to understand which one is right for you. If you are finishing undergrad (or pursuing your Masters), it is completely normal to question the decision of whether to go into tax or audit. Sometimes this decision is not black and white.

Each profession has its pros and its cons, and sometimes this choice can either lead to other opportunities or prohibit them. To me, tax requires a lot of knowledge regarding law and a bit more quantitative skills than audit (this is my impression so far - as an undergraduate business student). Can you know whether to go tax or audit based on your personality ? I have not taken tax or audit yet in school, but when I hear about how tax is it seems like it is more fitting for me.

For instance, I enjoy keeping up with tax stories in the news.

Tax Accounting : Which… Audit vs. Now is a great time to pursue a career in accounting. In relation to tax , public accounting professionals listed the following reasons: The tax track provides better opportunities to own or buy a tax practice. Tax accountants have more opportunities to work from home. Audit would give access to general accounting jobs which are at least times more abundant than tax jobs.

The opportunity to specialize in tax or audit is a key distinction of the UNC Kenan-Flagler MAC program. Unlike other programs, your course schedule reflects the role you apply for in public accounting, and the choice comes very early in your academic career. In this two part post, two current MA. Prepare detailed reports on audit findings.

Report to management about asset utilization and audit , and recommend changes in operations and financial activities. Collect and analyze data to detect deficient controls, duplicated effort, extravagance, frau or non-compliance with laws, regulations, and management policies. It suits a personality type that enjoys detail and doesn’t mind the tedious nature of continually preparing accurate, detailed statements on a daily basis.

This career option involves not just preparing tax returns, but you might also do tax planning and tax consulting services. The job requires reading a lot of regulations. Skillset – Tax and Audit have several overlapping skills required to be successful–obviously they both require a pretty thorough knowledge of advanced accounting concepts and practices.

Among the Big KPMG is the only one having a better work-life balance.