Why does the Piper Jaffray SA app ask if you have worked at Ernst & Young?
Does that disqualify you or give you an advantage?
Does EY audit them or something, and they can't hire someone that has audited them?
Makes no sense to me. Do other banks ask these kind of questions too?
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Correct me if I am wrong, but there's a law or act which I don't recall the name. If you work at an audit firm you cannot go work for that client for 1 yr (check on that timing, not sure if it's still 1 yr). The reason being conflict of interest. What would stop you from doing something favorable for the client, then quitting and just joining the client company the next day? It goes back to the Enron days. Not sure how that works ex-US. Perhaps there is someone else more familiar with this rule than I here.
This is correct; E&Y audits JPC as disclosed in their SEC filings and they are asking because of Sarbanes Oxley compliance reasons. I'd be surprised if interning at an audit client of a previous internship firm would actually be a violation though.
Shouldn't that be only if you worked on that client?
Otherwise, between the big 4 they basically audit every single company out there. If you worked at a big 4, you couldn't move anywhere.
And don't a lot of opportunities come from clients you have worked on? AKA you provided some service to them, they liked you and want to bring you over?
You're right, they're just asking to cover their asses.
Yea dude it won't effect you.
It's just they have to make sure all the conflict of interests are out of the way. To my knowledge, usually you'll have to sign something upon receiving the offer that states your past employment with an auditor and renounces duties, etc before signing w/ JPC
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