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Now, imagine twenty (random number) other practices such as PAS which falls under the RAS umbrella. Now once again try to imagine ten or so other service lines like RAS with once again a bunch of sub-service lines such as PAS. New practices form and old practices consolidate just about every year. Here’s an example: Imagine for a moment that a new regulation to govern “Wall Street” firms is passed and will be enforced in one year’s time.These groupings also vary from country to country and region to region depending on client demand in that particular geography. This is a possible scenario, I might add, given today’s market conditions.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.Now that you understand the demand from the client side, let’s take a look at the delivery or firm side.
The content intentionally touches on only two of the four divisions, since its purpose is to help further distinguish the concept of organizational groupings used in major professional services firms and to provide some practical perspective on their differences.The article is structured with bold headings and key takeaway bullet points for those only interested in a quick scan.Feel free to bounce around if you already have a solid understanding of certain sections.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.
The Professional Services Career Path: A Big Four Employee Perspective What is it like to work on the advisory side of a Big 4 firm? Typically, if there’s time to discuss and there’s mutual interest in the exchange, I’m immediately bombarded with a slew of follow-up questions like: What do you do exactly? I respect all of the Big Four firms, especially mine, a great deal but feel that the only way to offer up a truly unbiased perspective on the lifestyle is to provide genuinely candid insight.