Five college seniors with majors in accounting are discussing alternative career plans. (Click the icon to view the additional information.) Rec More Info a. What are the major advantages and disadvantages of each of the four types of auditing careers? b. What do you think is the best early career choice for the senior interested in ultimately becoming a certified fraud examiner? c. What other types of auditing careers are available to those who are qualified? Requirement a. What are the major advantages and disadvantages of each of the four types of auditing careers? (Click on the icon to view the list of advantages and disadvantages.) a. Exposure to taxes and to the business enterprise may not be as in-depth as the other type of auditing careers. b. No experience with operational or financial statement auditing. c. Increasing opportunity for experience in operational auditing. d. Little exposure to diversity of enterprises and industries. e. Constant exposure to one industry presenting opportunity for expertise in that industry. f. Bureaucracy of federal government. g. Extensive training in individual, corporate, gift, trust and other taxes is available with concentration in area chosen. h. Likely to be less exposed to operational auditing than is likely for internal auditors. i. Experience is limited to one enterprise, usually within one or a limited number of industries. j. Opportunity for experience in auditing, tax consulting, and management consulting practices k. Extensive training in audit of financial statements, compliance auditing and operational auditing. I. Experience limited to taxes. m. Extensive exposure to all segments of the enterprise with which employed. n. Little exposure to taxation and the audit of taxes. o. Hands-on experience with sophisticated selection techniques. p. Exposure to highly sophisticated statistical sampling and computer auditing techniques. More info The first senior plans to become an internal revenue agent because his primary interest is income taxes. He believes the background in tax auditing will provide him with better exposure to income taxes than will any other available career choice. The second senior has decided to go to work for a CPA firm for at least 5 years, possibly as a permanent career. She believes the variety of experience in auditing and related fields offers a better alternative than any other available choice. The third senior has decided on a career in internal auditing with a large industrial company because of the many different aspects of the organization with which internal auditors become involved. The fourth senior plans to become an auditor for the GAO because she believes that this career will provide excellent experience in computer risk assessment techniques. The fifth senior would like to ultimately become a certified fraud examiner but is not sure where the best place is to begin his career so that he can achieve this longterm goal