Finance Twitter has collectively decided that if top tier careers in finance were tiered like a video game — S, A, B, C, D — Audit sits comfortably at D.
But your parents, your CA uncle, and every educated elder in your family will tell you Audit is a solid, respectable career. So who is right?
Both, actually. Let me explain.
What does an auditor actually do?
Companies are legally required to publish their financial statements — basically a report card of their financial performance. But who checks whether that report card is honest? That's the auditor's job. They verify whether the financial statements show a "true and fair view" of the company's actual performance.
Here's the fun part — the company pays the auditor to police itself. Sounds like a conflict of interest, right?
Technically, yes. A company could pressure its auditor to look the other way in exchange for higher fees. And in reality, it has happened. Ever heard of Satyam Computers? In 2009, one of India's biggest IT companies was found to have faked ₹7,000 crore in cash that simply did not exist. The auditors — PwC (one of the biggest 4 accounting firms in the world) missed it entirely. Two PwC partners went to jail. Licenses cancelled. Careers over.
So yes, the system can be gamed. But the consequences are severe enough that most auditors don't bother trying.
But why do people call it D-tier then?
The honest answer is opportunity cost. Talk to anyone working in a Big 4 audit firm for five years and they'll eventually say it — "If I had put this much effort into something else, I'd be earning way more." The hours are brutal, the work is repetitive, and the pay, while decent, doesn't match the effort in the early years.
It's also not glamorous. There are no deals, no markets moving because of your decision, no adrenaline. You check. You verify. You document. Repeat.
So why do families still swear by it?
Two reasons.
First, exclusivity. Only a CA can sign an audit report in India. The government has handed you a legally protected monopoly. AI can assist, but it cannot sign. That's a moat most careers don't have.
Second, generational wealth. Run your own audit practice right, build a loyal client base over decades, and you have a business you can pass down. People have built crores from this quietly, without anyone on Finance Twitter noticing.
Big 4 vs. your own practice — what's the difference?
Your own practice is stable, predictable, and potentially generational. You have clients who pay you year after year. Boring? Yes. Financially secure? Absolutely.
Big 4 — Deloitte, PwC, EY, KPMG — is a different beast. You audit large listed companies where the complexity is high, the compliance requirements are brutal, and the scope for fraud is massive. The work is more interesting, the brand name on your resume is valuable, and the pay is decent. But there are days you will not go home. Not metaphorically — literally.
So how do you become one?
In India — clear CA, complete your articleship (2-3 years of internship at a CA firm), and you're qualified to work as an auditor. Want to start your own practice? Clear the additional criteria and get a Certificate of Practice.
Want international signing authority? ACCA (UK) gives you authority in around 50 countries — everywhere except India, where CA is non-negotiable. CPA (USA) covers American jurisdiction.
So, is Audit D-tier?
From my personal experience if you want excitement, deals, and market action — yes, probably.
If you want a legally protected career, the option to build a generational business, and the ability to sleep at night knowing your job isn't disappearing tomorrow — Audit is quietly one of the most underrated paths in finance.
Extra for people who stayed till the end- You see, if you do CA, audit is one of the things you do either in job or in practice. Taxation is the second biggest thing for CAs as a CA must sign an Income Tax Audit. Then there is GST, CAs have special exclusive roles under the CGST Act. Under Companies Act 2013, CAs (along with CMA, CS, Lawyers) can do certain things. And if you just want to do a regular corporate job, you can climb the corporate ladder as well and become a CFO is your 40s earning a very handsome salary depending on the company. So, the scope is broad.
Now the question is that if you want to do regular CA things, should you do job or practice? Frankly, when people talk about rich CAs, they mostly mean CAs who do practice. But here is a brutal truth that people don’t talk about and when you realise it, it’s too late. When I started my CA journey, I was impressed by the wealth of CAs that my father used to tell me. But when I went deeper into the system, I realised that the network of CA is very closed. You cannot just enter as an outsider and get clients. They (the old firms) have decades of network which is being passed to their children and grandchildren. You start from a built-in disadvantage, and you might become successful but it will take a hell lot of time which will cost you your youth and your children may get the fruit of your hard work which can be okay, but this IS a thing that you should consider when you hear about the stories of RICH CAs. And the possibility of failure is always there. So, know the insights of the industry and take decisions for your career accordingly.
Finance Twitter is loud. Audit practitioners are busy counting their money.
Send me "TOAST" if you read the full thing.
This week’s YouTube recommendation is a great one to understand why you should not follow your dreams from one of my favourite creators-
This is the Issue #1 at ABS Newsletter. Visit abs.gourab.net for the previous issues. I am Gourab. Signing off till next weekend.