Transition from Audit to Transaction Advisory/Financial Due Diligence

[@iDoTaxReturns]

It is 7:30 AM, been up since 4. Landed on this video frantically thinking about my career (in my mid 20s). You not only told me exactly what I wanted to hear, but what I needed to hear about career longevity. Forever grateful brother

[@rashadcalilov8630]

I am Manager 2 ( 6 years experience in audit) in big four and I was offered to transfer to due diligence and found this video ))) Will talk about to partner in this week about the job. But gonna say I like the positive energy and attitude in this video , great job ;)

[@ZypexTM]

What was the outcome? :)

[@toxicfolio6608]

Hey, at what level he was offering you the role?

[@kentrobertsson7700]

Don't go into FDD it is basically the same as audit

[@rashadcalilov8630]

@@kentrobertsson7700 Dude where were you this whole year ?)))) Why commented after I have transferred , not before ? :D

[@sanikasawant_18]

Everything aside, your ENERGY is GOLD here!!!

[@raymondhansen4482]

This is an amazing video. Thank you

[@musicreboost]

Bryan, I just love your channel content, absolutely a great motivator to work in accountancy and achieve success on daily basis Please, share more about advisory work

[@Adeltaarabt17]

The speech from 11:00 onwards could not have been more true!

[@Tech1Review]

Love the energy haha! I'm hyped

[@hansredgate1]

I made the transfer to Transaction Services after 18 months in Audit, also previously worked as a controller. Can definitely attest to what you say, accounting fundamentals are very important. Definitely a great move and no regrets. Happy to have a chat to share my experience if you want. Btw really like the channel

[@BryanCarretoCPA]

Thanks for the comment and I appreciate the feedback. Would love to have you to hear your experience

[@hansredgate1]

@@BryanCarretoCPA sounds good! Not too sure, what is the best way to share this?

[@xavimt7516]

That would be super interesting if that chat happens guys!

[@BryanCarretoCPA]

@@hansredgate1 I can interview you on your experience.. I could start a segment where I have other accounting professionals and where they took their careers? Would be dope

[@hansredgate1]

Sorry for the late response but that sounds perfect. Is there a way I can reach out to you to further discuss?

[@trinhuc8565]

Hi, my background was not related to audit or accounting but I found this video very informative, looking forward to these kind of video in the future

[@musicreboost]

what would you recommend to learn or how to prepare to work with first clients? I have an eager to start working with client as a consultant but I have kind of a fear..

[@b1d268]

Can you hate audit but like due diligence (transaction) ?

[@var2540]

i love your passion

[@colinmacke3022]

Great explanation, thanks!

[@australianpatriot]

how about valuations rather than DD

[@PC-ds6zk]

Hi, i am a chartered accountant with experience in small practices and when i look at the roles at big 4 i never understand them and i am not sure which area i should specialise in. I prefer working independently

[@richardbetancourt6315]

Loved the practical advice on being within audit for 2-3 years prior to switching to TAS. I've seen a TAS summer 2024 internship open up that I'm interested in but I don't have the 2-3 years of experience within audit (Current audit intern in SLG). Any advice on applying to TAS internships if I don't have the 2-3 audit background? Are there any models or technical skills I should be familiar with?

[@pscafinal1597]

Really helpful video. Super insightful 💯

[@BryanCarretoCPA]

Glad it was helpful. Please let me know if you have any questions.

[@anthonymartinez7909]

Great content! I always look forward to these videos! Random question, what apps do you use for investing?

[@BryanCarretoCPA]

Thanks bro! I use M1 Finance! I am making a video this weekend on how to start one and how to invest in it. Hope it helps

[@brandon-mn8hw]

Great video!!! Wanted to ask is it necessary to get your cpa to switch in FDD/valuation consulting from audit?

[@alistairhenry709]

As someone who has done the transition, yes! They always get far more applications than job roles, so they can be picky if they want. The services also tend to bill at a much higher rate (day rate) than external audit - so they expect high quality work. Their business is not so structured around training up juniors as well, so this leaves little room for seniors with no CPA/CA. Get your qualification and do your time in audit before making the move imo.

[@mohammedalqhiedan9067]

So , I have just graduated with an accounting background. Do you advise me to start as an external auditor (core assurance), or to start in transaction services?? I believe it is important to start first as an auditor to be familiar with financial statements and to have a professional qualification, after that I can shift to transaction services. Do I agree with that ?

[@Emily-oi5uu]

Can you please explain different areas in Deal Advisory?

[@videoscontrabandos3879]

Financial, legal, marketing, technology, competitive and industry analysis.

[@stanisvetkiks]

At my firm we have a Due Diligence, Valuations, Debt advisory and a Merger advisory branche. The merger advisory basically deals with the full selling process (typically smaller companies at our firm). Due Diligence projects are usually buy-side for private equity business. And the valuations branche usually has a legal component to it. I think all firms have a bit different focus, so I believe its good to do a rotation. I personally liked the merger advisory best because it gave me the opportunity to sit at the table with the owners really quickly and really understanding the strategic components of M&A.

[@cynthiamayte1997]

Is the amount of documentation the same in FDD as it is in Audit? Or less?

[@chrisdipietro5847]

More explanatory think of yourself being the translator between accounting and finance functions. Plus your writing reports to dictate what has been happening to buyers, sellers, and possible lenders

[@michaell3134]

FDD checks the box for lender no value added you get paid the least vs lawyers and bankers

[@lukedelrossi2005]

I solely have experience in tax accounting. Could anyone advise me on what the best path is into FDD? Should I work in audit/assurance for a few years and then get into FDD or could I still possibly be a qualified candidate for FDD with a background in tax?

[@shuaiyu2921]

super super

[@michaell3134]

i feel bad to whoever needs to listen to this guy on a call