If you were in my shoes, what would you do? Forum

[lillawyer2]

I have the opportunity to work in Auditing, entry level, which I am interested in. In order to progress, I'd have to take accounting courses and probably get a certification.

My heart is in becoming a lawyer, but I wanted a potentially solid backup. I thought auditing is a sound profession, but can anyone confirm? Are the opportunities good, as in career paths or should I just follow through with law?

I would go to law school and get an mba in accounting. Then which ever provided the better opportunity would rise to the forefront. I kill two birds with one stone, sort of.

[BigZuck]

Go to law school if you want to be a lawyer. Get an MBA if you want to be a business master or whatever they do in that school. Dear God, don't do both. That would be a horrible decision. Super expensive and it won't provide the career flexibility you think it will.

[lillawyer2]

Go to law school if you want to be a lawyer. Get an MBA if you want to be a business master or whatever they do in that school. Dear God, don't do both. That would be a horrible decision. Super expensive and it won't provide the career flexibility you think it will.

thanks. i just wanted a back up, in case, i didnt get the score i wanted or couldnt afford it.

[mvp99]

Are you talking about CIA?

[BigZuck]

Go to law school if you want to be a lawyer. Get an MBA if you want to be a business master or whatever they do in that school. Dear God, don't do both. That would be a horrible decision. Super expensive and it won't provide the career flexibility you think it will.

thanks. i just wanted a back up, in case, i didnt get the score i wanted or couldnt afford it.

What do you mean by not getting the score you wanted? What score?

And in case you couldn't afford what?

[lillawyer2]

Go to law school if you want to be a lawyer. Get an MBA if you want to be a business master or whatever they do in that school. Dear God, don't do both. That would be a horrible decision. Super expensive and it won't provide the career flexibility you think it will.

thanks. i just wanted a back up, in case, i didnt get the score i wanted or couldnt afford it.

What do you mean by not getting the score you wanted? What score?

And in case you couldn't afford what?

if i didnt do well on the lsat, if the debt ratio was too high for law school, if the options presented made it nor worth it

[BigZuck]

Go to law school if you want to be a lawyer. Get an MBA if you want to be a business master or whatever they do in that school. Dear God, don't do both. That would be a horrible decision. Super expensive and it won't provide the career flexibility you think it will.

thanks. i just wanted a back up, in case, i didnt get the score i wanted or couldnt afford it.

What do you mean by not getting the score you wanted? What score?

And in case you couldn't afford what?

if i didnt do well on the lsat, if the debt ratio was too high for law school, if the options presented made it nor worth it

If law school isn't worth it, you don't go. Period. You don't go and then tag an MBA on to it.

I'm a little confused about your OP on the whole and I think it's asking about bigger things but I was just responding to the JD/MBA thing. Do not do a JD/MBA. That was all I was trying to say.

[lillawyer2]

Go to law school if you want to be a lawyer. Get an MBA if you want to be a business master or whatever they do in that school. Dear God, don't do both. That would be a horrible decision. Super expensive and it won't provide the career flexibility you think it will.

thanks. i just wanted a back up, in case, i didnt get the score i wanted or couldnt afford it.

What do you mean by not getting the score you wanted? What score?

And in case you couldn't afford what?

if i didnt do well on the lsat, if the debt ratio was too high for law school, if the options presented made it nor worth it

If law school isn't worth it, you don't go. Period. You don't go and then tag an MBA on to it.

it is worth almost everything to me, but maybe the feelings arent reciprocated. i wont go to law school if the most i can must are t2-t3 acceptances. if i am not awarded scholarship, and if it will financially cripple me or be the start of it

I'm a little confused about your OP on the whole and I think it's asking about bigger things but I was just responding to the JD/MBA thing. Do not do a JD/MBA. That was all I was trying to say.

[dabigchina]

.....

[lillawyer2]

don't get an "mba in accounting". wtf is that? just get 150 units for the CPA exam from your local community college and go from there.

as for law school? that's totally up to you. I'll just tell you that public accounting absolutely blows but gives solid exit ops. also, if you do decide to go to law school having that background helps during OCI (or so i have heard).

yes that was my other thought. ill just go to a local cc and do the 150 credits. it would take no longer than a year and in that time i would have taken the lsat again and weigh my options.


does anyone know if internal audit is a good starter position to segway into business?

[dabigchina]

,,,,,

[lillawyer2]

don't get an "mba in accounting". wtf is that? just get 150 units for the CPA exam from your local community college and go from there.

as for law school? that's totally up to you. I'll just tell you that public accounting absolutely blows but gives solid exit ops. also, if you do decide to go to law school having that background helps during OCI (or so i have heard).

yes that was my other thought. ill just go to a local cc and do the 150 credits. it would take no longer than a year and in that time i would have taken the lsat again and weigh my options.


does anyone know if internal audit is a good starter position to segway into business?

no, internal audit is where business careers go to die. you want FP&A.

why do people say that: its where careers go to die. ive seen a lot go on to be controllers, head of finance (not cfo), or risk management careers.

what is fp&a?

[crazycanuck]

don't get an "mba in accounting". wtf is that? just get 150 units for the CPA exam from your local community college and go from there.

as for law school? that's totally up to you. I'll just tell you that public accounting absolutely blows but gives solid exit ops. also, if you do decide to go to law school having that background helps during OCI (or so i have heard).

yes that was my other thought. ill just go to a local cc and do the 150 credits. it would take no longer than a year and in that time i would have taken the lsat again and weigh my options.


does anyone know if internal audit is a good starter position to segway into business?

no, internal audit is where business careers go to die. you want FP&A.

why do people say that: its where careers go to die. ive seen a lot go on to be controllers, head of finance (not cfo), or risk management careers.

what is fp&a?

Financial planning and analysis

Internal audit is not where careers go to die. It can be great experience for a couple of years. A lot of large publicly traded companies make internal audit part of their training program for people they are grooming for leadership positions. It can be difficult to transition out if you are in it too long, but it can be great experience and lead to great options in areas like operations or risk management (which is really fun). Depending on the type of internal audit you do it can be difficult to transition to financial roles.

Generally internal audit reports directly to executives or the board giving you access to leadership that aren't available in most entry level positions which makes networking easier (and ultimately promotions/transitioning to another part of the org easier)

It definitely doesn't hurt to do this while you transition to law school or start your career.

I know a number of people who started their careers in internal audit and ended up transitioning into other roles in organizations. Internal audit probably has better exit ops into organizations than law because it's very broad and a very general skill set can be developed.

[bearsfan23]

don't get an "mba in accounting". wtf is that? just get 150 units for the CPA exam from your local community college and go from there.

as for law school? that's totally up to you. I'll just tell you that public accounting absolutely blows but gives solid exit ops. also, if you do decide to go to law school having that background helps during OCI (or so i have heard).

yes that was my other thought. ill just go to a local cc and do the 150 credits. it would take no longer than a year and in that time i would have taken the lsat again and weigh my options.


does anyone know if internal audit is a good starter position to segway into business?

no, internal audit is where business careers go to die. you want FP&A.

why do people say that: its where careers go to die. ive seen a lot go on to be controllers, head of finance (not cfo), or risk management careers.

what is fp&a?

Financial planning and analysis

Internal audit is not where careers go to die. It can be great experience for a couple of years. A lot of large publicly traded companies make internal audit part of their training program for people they are grooming for leadership positions. It can be difficult to transition out if you are in it too long, but it can be great experience and lead to great options in areas like operations or risk management (which is really fun). Depending on the type of internal audit you do it can be difficult to transition to financial roles.

Generally internal audit reports directly to executives or the board giving you access to leadership that aren't available in most entry level positions which makes networking easier (and ultimately promotions/transitioning to another part of the org easier)

It definitely doesn't hurt to do this while you transition to law school or start your career.

I know a number of people who started their careers in internal audit and ended up transitioning into other roles in organizations. Internal audit probably has better exit ops into organizations than law because it's very broad and a very general skill set can be developed.

How would you know?

You're not a lawyer and you didn't go to law school.

It's weird enough that you would even post in something on-topic, but at least stop giving bad advice

[crazycanuck]

don't get an "mba in accounting". wtf is that? just get 150 units for the CPA exam from your local community college and go from there.

as for law school? that's totally up to you. I'll just tell you that public accounting absolutely blows but gives solid exit ops. also, if you do decide to go to law school having that background helps during OCI (or so i have heard).

yes that was my other thought. ill just go to a local cc and do the 150 credits. it would take no longer than a year and in that time i would have taken the lsat again and weigh my options.


does anyone know if internal audit is a good starter position to segway into business?

no, internal audit is where business careers go to die. you want FP&A.

why do people say that: its where careers go to die. ive seen a lot go on to be controllers, head of finance (not cfo), or risk management careers.

what is fp&a?

Financial planning and analysis

Internal audit is not where careers go to die. It can be great experience for a couple of years. A lot of large publicly traded companies make internal audit part of their training program for people they are grooming for leadership positions. It can be difficult to transition out if you are in it too long, but it can be great experience and lead to great options in areas like operations or risk management (which is really fun). Depending on the type of internal audit you do it can be difficult to transition to financial roles.

Generally internal audit reports directly to executives or the board giving you access to leadership that aren't available in most entry level positions which makes networking easier (and ultimately promotions/transitioning to another part of the org easier)

It definitely doesn't hurt to do this while you transition to law school or start your career.

I know a number of people who started their careers in internal audit and ended up transitioning into other roles in organizations. Internal audit probably has better exit ops into organizations than law because it's very broad and a very general skill set can be developed.

How would you know?

You're not a lawyer and you didn't go to law school.

It's weird enough that you would even post in something on-topic, but at least stop giving bad advice

OP asked about other careers, specifically internal audit, so I gave advice about other career paths in internal audit or as a result of internal audit. I worked at a big 4 firm and know a number of people who went into internal audit, and worked with internal audit groups in large organizations. In the past i've also been involved with the IIA.

I don't think it's rocket science that generally becoming a lawyer to get into business is a bad idea. It's pretty common advice on TLS from lawyers here that transitioning out of law into more of a business role can be difficult.

If the OP wants to be a lawyer then go for it, if he wants to acquire a more general skillset while deciding, internal audit can be a solid way to start a career that can provide some great options. Straighten out your panties.

[dabigchina]

I don't think designing bullshit sox controls qualifies as "grooming for leadership". Some management training programs might have people do a stint in internal audit, but these people are not internal auditors.

IMO nothing slaps you with the "beancounter" label faster than 2 years in public accounting + internal audit. People have definitely transitioned out if it, but it's not easy. FP&A is a much easier sell because its less bullshit compliance.

[crazycanuck]

I don't think designing bullshit sox controls qualifies as "grooming for leadership". Some management training programs might have people do a stint in internal audit, but these people are not internal auditors.

IMO nothing slaps you with the "beancounter" label faster than 2 years in public accounting + internal audit. People have definitely transitioned out if it, but it's not easy. FP&A is a much easier sell because its less bullshit compliance.

OP doesn't have FP&A on the table right now.

You also have an outdated view of internal audit. "Bullshit SOX controls" used to the thing back in like 2003, but it has since evolved to be much more than SOX compliance at a lot of organizations.

https://www.grantthornton.com/staticfil ... y-2011.pdf

"Nearly seven in 10 CAEs see internal audit as a springboard
for advancement into other executive management positions at
their own companies or into a CAE role with greater authority
at a larger company. "

Study done by EY:

http://www.tapestrynetworks.com/upload/ ... _Apr11.pdf

“There is a trend toward a robust rotation plan that is [two-way].
Internal audit is becoming a pipeline for talent … and talent is
being attracted to the function from [other parts of] the company.
Some internal audit functions, as part of their regular reporting
package to the audit committee, are tracking executive career
paths to chart (and in some cases, ensure) a ‘tour of duty’ in
internal audit as part of their internal resume.” Participants said
that internal audit acts as a springboard, providing employees
with an enhanced understanding of business areas.

http://ww2.cfo.com/human-capital-career ... es-of-age/

For Michael Fung, CFO of Wal-Mart’s North American stores division, a four-year seeming sidestep from head of global procurement into internal audit in 2003 proved just what he needed to graduate to a chief finance role. “You have a chance to really learn and help improve the business,” he said. “You build relationships with the board and the major business leaders. You can move internal audit to more value-added processes. And it builds your ability to manage people and work with cross-functional teams.”

At the Fortune 1000 companies, at least 486 audit executives have moved into other roles within the past three years, according to Paula Park, another Korn/Ferry recruiter who heads the firm’s internal audit and compliance practice. Their new titles, she said, span the gamut: chief accounting officer, chief compliance officer, chief risk officer, controller, treasurer, VP finance, divisional CFO, and CFO.

My organization constantly pulls the people in internal audit out to become directors/assistant directors in various areas, sometimes on a temporary basis, sometimes permanently. Someone I know just left internal audit at a firm and moved into a VP of Planning role at a huge multinational public company (market cap is 5B+).

Internal audit has really evolved over the last 5-10 years in a good way. It's not really something you want to do for a decade (but anything really specific will be hard to transition out of after specializing in it for a decade), but for a few years out of university it can be a great opportunity. The key to remember about internal audit is that organizations are using it more and more in operations and business processes (most orgs have SOX embedded now and are figuring out better ways to use internal audit), and internal audit generally reports straight to the board or the CEO. There's fewer levels you need to go through to catch managements eye. Our new fresh out of college internal auditor attends meetings with the CEO, VPs, and even some board meetings. They know his name, know who he is, like him, and like what he brings to the table. FP&A would also be a great opportunity, but the OP hasn't mentioned it. Also in a FP&A role there will be multiple levels of management to get through before you can start to catch someones eye.