Per the CFA Institute Website: Auditor I perform financial statement audits of investment companies and in the process test the custody and pricing of the portfolios. Used Bloomberg and learned the accounting of several security types, including equities, bonds, options, and futures. This counts as valid work experience, despite not really “aiding in the investment decision process.” Anyway, I am going for level 1 in December, and was curious as to whether any Big4/Regional people had gone through this process and got their experience approved. I attempted to search the forums (and google) but could not really come away with a definitive answer. Is it more up to how I craft my exact responsibilities? I would hate to go through the arduous process just to find that my experience is invalid. Thank you all for your input
You are right, it does depend on how you craft your exact responsibiliites. But I know auditors @ big 4’s that have been approved.
Thanks for that, very reassuring
When applying for membership detail your work experience with specific CFAI reading and LOS and you should be good.
Yeah, pretty sure I will be okay provided I spin it right. I read some horror stories for actuaries attempting to get their experience approved though, which got me panicking. I appreciate your input.
Actuaries working on insurance audits will probably have a hard time getting their experience approved. “Auditing the loss reserve amounts that assets are allocated to support” sounds too detached from the investment decision process. I have known Big Four actuaries working on asset/liability modeling, economic/regulatory capital and derivative valuations getting their experience approved. Just those doing insurance audit support would have a hard time.