Pros
Amazing work/life balance. You can work 4 10-hour days per week and get a 3-day weekend every week! You can take vacation pretty much anytime you want to as long as you have the amount of time accumulated. Very flexible work schedule, as you make your own appointments and only have to go in to the office once or twice a week once you get a year of experience. Work is varied and you are rarely questioned by management about the decisions you make in regards to your audits as long as your decisions are well documented.
Cons
Salaried compensation is somewhat below the average for other comparably skilled jobs. Very rigid workpaper processes. Sometimes there is pressure to close audits faster than you deem reasonable. Lack of communication from one department to another. Huge bureaucracy. Rigid promotion process.