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The first division we’ll take a look at is “Assurance”. Assurance mainly encompasses classic audit services, including financial audits.Assurance is a very mature service offering with very well structured methodologies and reoccurring annual audit business; it holds the top spot in terms of the most annual revenue generated for the firm.Hopefully, the following explanation sheds some light on this early career decision that you’ll need to make.Assurance work is typically very analytical and often time-consuming.This section is specific to Ernst & Young, but more than likely holds true for other firms in the Big Four.
Once the business case is formally presented and a firm commits to the investment…Recruit, train, sell and bam! This exemplifies why professional services firms cannot have a flat or rigid hierarchy.
As advisors to industry, we provide a valuable benefit, since large businesses are regularly confronted with a bevy of challenges that range from the commonplace, such as not having the internal subject matter experience needed in order to execute upon critical initiatives, to the less mundane, such as perhaps a regulatory mandate to leverage independent third-party consultation.
The list in-between these two examples are vast to be sure and vary greatly in complexity.
Advisory, on the other hand, is more similar to a classic management consulting mold.
It is not nearly as consistent as Assurance work, but it is one of the fastest growing offerings within the firm.