TAX or AUDIT? Student Looking for Guidance

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Hi guys, I am new here. So if I am beating this topic to a pulp please let me know and point me in the right direction.

I am an accounting major at a university in a large city in the midwest. I also live in this city. I am in my third year of schooling on track to finish my Masters of Accountancy in four years. I have always thought myself to be more of an auditing guy but recently I have been unsure. I have been working at a small, local CPA firm since last tax season. At this job I have worked on a lot of personal and some corporate tax returns, assisted in preparing for the firm's peer review (worked with monitoring, firm policy, engagement evaluations, etc.), and have been exposed to various auditing procedures, other attestation services, and bookkeeping for clients. My work has been mostly in tax although I have indirectly experienced a lot of the auditing environment. I have not been assigned to any audit programs but I have worked on a payroll audit doing sampling. I have seen a lot of the rules/regulations/policy/procedures side of auditing by working on the peer review. I have went through a number of audits and while I have virtually no experience completing an audit, I think I have a decent idea of what it entails. As a result of a summer externship, I received an auditing internship for this upcoming summer and was also offered a job when I graduate as an Auditing Associate. Currently, in school I am taking Federal Income Tax and Auditing. This is where my doubt has arisen. I seem to prefer (slightly) my tax class. I have excelled in my auditing class to this point. I believe, however, that is due to the fact that the course is mainly an overview of the general rules and regulations at this point and my current job has exposed me to this. Further, I know that my tax class is all individual tax policy at this point and if I were to choose tax I would mainly be working on corporate returns. Can anyone give me some guidance on the matter? More than just the typical "see which class you like better" stuff? Thanks!
 
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Depends what your long term goals are, if you go tax you keep the possibility of striking out on your own one day as well as moving to a small town.

Both have major bucks potential if you go large corporate.

In this economy I would hop on your online job finder of choice, and see how many tax positions v audit positions their are. Your preferences are moot if the job prospects suck
 
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audit vs tax

Most of the larger accounting firms have more openings in audit (probably about 4/1 ratio). If you are looking to stay in public accounting for some time, there are more opportunities to move up in audit. However, you need to choose what you enjoy doing best. Audit is usually more traveling and client interaction. With that said, the travel does get old after awhile. I was pretty jealous of the tax team that got to work in the office while I was on the road constantly.

I worked in audit at a big four firm so I can try to help answer any questions you might have.
 
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Most of the larger accounting firms have more openings in audit (probably about 4/1 ratio). If you are looking to stay in public accounting for some time, there are more opportunities to move up in audit. However, you need to choose what you enjoy doing best. Audit is usually more traveling and client interaction. With that said, the travel does get old after awhile. I was pretty jealous of the tax team that got to work in the office while I was on the road constantly.

I worked in audit at a big four firm so I can try to help answer any questions you might have.
Also, a good resource for accounting students is: Your Accounting Salary and Internship Guide Plus Much More | CPA Insider
 

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