Pros
The main pro is the experience gained. You will definitely be more desirable for future jobs when you decide to leave. The other major pro is that since you’re working on many different teams with many different people, it is a great opportunity to meet new people and grow your network. Most people you work with will be good and the managers and partners treat you with respect even if you’re a first year.
Cons
The worst thing is obviously the hours. Busy season had me working about 60-65 hours a week with the maximum being around 80. Another terrible thing about being an audit associate is having to be on-call for inventory counts. This means that for about 1 week of every month you are available to be called if an inventory count is needed. You are explicitly told that you are restricted from leaving the city/area that your office is in, as some of these counts can be assigned at very short notice (I know of one associate who had roughly 45 minutes to get to a client site for a count). Our office required every associate to be on call for Thanksgiving, Christmas and New Years, ruining many people’s travel plans, including my own. You pretty much are never called unless it is near the end of the year, but it is still stressful if you are trying to make plans around the schedule that they make for being on-call.