Pros
You go through same training as incoming audit associates (and it refreshes all that stuff you forgot from college). Small audit teams, so you get more responsibility & see audit "all the way through"; relevant & interesting work. Managers & seniors friendly & helpful, expect you to make mistakes and take time to explain stuff. In a way, you're almost treated like a new-hire associate. Have resource center for each office which deals with typical employee questions/issues. LOTS of free food. Young culture, easy to bond with coworkers. Clear expectations & evaluation, esp if you ask for it. From what I've been told (doesn't apply to interns), generous time off. Unlike many firms, internship is during "busy season", so you get to experience it for the 1st time before it hits you as a new hire.
Cons
There's a certain lack of consistency, b/c each manager you work with wants things done differently. If you're doing "core" assignments (aka real estate, low income housing, which is the firm's specialty and thus overwhelming proportion of work), it's very automated. Firm seems limited in industries other than real estate. For all staff other than interns, typical "busy season" long schedule pains, lots of Saturdays in office (although firm does try to make it better w/ free meals, mid-season fun activities). No summer internships, so depending on school program, you either have to take semester off & be full time or work part time & grapple with class scheduling. New hires and interns assigned to "teams"; didn't really get to meet other people in the office outside of team.