Why are qualified auditors more sought than ER for M&A?
Job profiles mention audit a lot more than research experience. Maybe this is mainly a UK phenomenon...
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Probably because people within ER stay within ER, in addition, ER is much smaller than the audit community...so, I would presume that the outflow of audit professionals is greater than ER professionals...
Both are expert accountants, have industry knowledge, know how to work long hours, dance for a client, but auditors are probably cheaper to hire due to poor salaries + minimal/no bonus at the lower levels in Big 4.
Also, most British auditors study the ACA, which has detailed coursework in strategic finance and FS consolidation, this is possibly more relevant to M&A than the DCF's crafted in ER. I could be wrong though.
Source: A cynical auditor
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