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Finished 3 year ACA with PwC Audit Dept - ask me anything

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    (Original post by Kemik)
    You have to work out which department you'd prefer rather than which firm.
    That's true to an extent, but I'd imagine after the internship it wouldn't be overly difficult to switch departments within a firm if you can explain your reasoning.

    I was thinking that I would gain more from an audit internship since you can be given real jobs to do that require little or no training, whereas tax may require more specialist knowledge. What are your thoughts?
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    (Original post by bt_1000)
    That's true to an extent, but I'd imagine after the internship it wouldn't be overly difficult to switch departments within a firm if you can explain your reasoning.

    I was thinking that I would gain more from an audit internship since you can be given real jobs to do that require little or no training, whereas tax may require more specialist knowledge. What are your thoughts?
    KPMG send you to the Tax Business school for a few days of training in Tax so I'd imagine PwC might do similar.
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    (Original post by Kemik)
    KPMG send you to the Tax Business school for a few days of training in Tax so I'd imagine PwC might do similar.
    Do they do that for T&R? Also, any idea if the intro thing at the start of the internship is with all the interns from the UK and where it is? I know BDO did a big thing up north for everyone or something so just wondering if it's the same.
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    f*** audit, can you easily move into corporate finance and M&A after your ACA? im really curious, i want to be a banker, but i guess im ready to do the dirty work to get there
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    (Original post by rza89)
    f*** audit, can you easily move into corporate finance and M&A after your ACA? im really curious, i want to be a banker, but i guess im ready to do the dirty work to get there
    Why dont you apply to a bank instead and do the dirty work at university. Its much more efficient.
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    yeh its a really bad time for IBD, it will get better in 3 years,or post 2012, just enough time to get an ACA. tell me is it worth it? have u lived life?

    I hope you remeber the ending of metal gear solid 1 on PSX,
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    Hi,

    I am currently in the process of studying my A Levels and planning on applying for
    assurance or audit apprenticeship programme at PwC , can you tell me more about the difference between those two? What were you doing on your day to day working day? Did it involve a lots of communication or did you just sat working with the financial statements etc. Basically I am looking forward to became an accountant either do an ACA or ACCA (not sure yet)

    And one more question, I am not a native English speaker,however I have been in the UK for 6 years, do you reckon this would be a disadvantage?
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    I am starting to looking into starting my career in accountancy.

    however i have NO IDEA which route to take.

    I have GCSEs and A levels not very good grades in A levels however.

    Do I study AAT myself?

    Do I study ACCA?

    I have no job in accounts?
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    (Original post by viktorija3105)
    Hi,

    I am currently in the process of studying my A Levels and planning on applying for
    assurance or audit apprenticeship programme at PwC , can you tell me more about the difference between those two? What were you doing on your day to day working day? Did it involve a lots of communication or did you just sat working with the financial statements etc. Basically I am looking forward to became an accountant either do an ACA or ACCA (not sure yet)

    And one more question, I am not a native English speaker,however I have been in the UK for 6 years, do you reckon this would be a disadvantage?
    Generally speaking audit is the main form of assurance, but I think PWC call it assurance whereas others like Deloitte call it audit.

    As for the ACA / ACCA thing, if you join any of the big companies then they train you for the ACA.

    The language thing will be a disadvantage if you have trouble expressing yourself verbally or on paper, as both are tested (in my experience anyway). However, providing you can communicate OK then it should be fine.

    (Original post by jackjennings)
    I am starting to looking into starting my career in accountancy.

    however i have NO IDEA which route to take.

    I have GCSEs and A levels not very good grades in A levels however.

    Do I study AAT myself?

    Do I study ACCA?

    I have no job in accounts?
    "I have no job in accounts?" What on earth do you mean? :eek:

    If you have bad A-Levels and no degree then the likes of PWC aren't for you. AAT probably best suits your situation, but I know very little about that qualification to be honest. Have you considered doing a degree?
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    I am an undergraduate hoping to do ACA training once I complete my course( if i get into one tht is). Anyway I failed 3 modules in my 2nd year & since we need to start looking for jobs now will these results of mine affect my chances of getting a job. I had serious family problem that prevented me from concentrating on my studies. I know I will do my 3rd year much better as I am aiming for 1st class marks. So any suggestion as to how could I make a successful application to employers.?? Could my poor results tamper my chances of securing a job at Big 4 companies?? Or any companies for that matter??
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    (Original post by viktorija3105)
    And one more question, I am not a native English speaker,however I have been in the UK for 6 years, do you reckon this would be a disadvantage?
    I have managed to get an ACA training contract and I have been in the UK for only 8 years. So, this would not be a disadvantage.

    Good luck
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    Ok
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    I was writing crap yesterday I suppose it was the shock I got reading through the posts. I was not facing the fact that working will be so intense and will involve working long hours.*

    My question is if I had previously applied to Assurance audit will it be possible to change to*Financial Advisory shared with Assurance?

    Which division is better London top tier or Banking & Capital Markets?

    Thanks
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    Hi Samtheman1 (and others),

    I would appreciate your advice on what's the best way to get into audit (big 4 or others down the line) in my circumstances.


    In short, I'm nearly ACCA qualified with 4 years of experience in the finance department in the university sector doing managment accounting sort of jobs.


    I graduated 2 years ago and I decided to go the ACCA route so I got my exemptions, done a couple of exams and now I have 3 papers left (2 this December). So hopefully I should be qualified next June.


    I have been working full time throughout my education (part-time evenings studying), as I wanted to get as much practical experience as possible. I got my ACCA practical experience signed off.


    The problem I'm facing now is that I've been pigeonholed. Management accounting is OK but not that well paid. I don't see myself doing this in 5 years time. I feel like I've learned enough. Assistant/Management Accountant and Senior Management Accountant - they all do pretty much the same thing. I think that the unique learning experience lasts about 1-3 years, from then onwards it's just a repetition.


    I want to get into practice or industry audit but not sure whether I should apply for graduate opportunities or something else? Maybe I should hold fire until I become fully qualified? But then I'm not experienced hire as such as I don't have any audit experience (well, I've been assisting audits during my assistant management accountant time but not sure if that counts).


    I certainly don't want to go through the whole process of sitting exams again. I'm craving for weekends for myself But really want to move on in my career so I'm going to do whatever it takes.


    Any advice much appreciated
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    (Original post by Moonister)
    Hi Samtheman1 (and others),

    I would appreciate your advice on what's the best way to get into audit (big 4 or others down the line) in my circumstances.


    In short, I'm nearly ACCA qualified with 4 years of experience in the finance department in the university sector doing managment accounting sort of jobs.


    I graduated 2 years ago and I decided to go the ACCA route so I got my exemptions, done a couple of exams and now I have 3 papers left (2 this December). So hopefully I should be qualified next June.


    I have been working full time throughout my education (part-time evenings studying), as I wanted to get as much practical experience as possible. I got my ACCA practical experience signed off.


    The problem I'm facing now is that I've been pigeonholed. Management accounting is OK but not that well paid. I don't see myself doing this in 5 years time. I feel like I've learned enough. Assistant/Management Accountant and Senior Management Accountant - they all do pretty much the same thing. I think that the unique learning experience lasts about 1-3 years, from then onwards it's just a repetition.


    I want to get into practice or industry audit but not sure whether I should apply for graduate opportunities or something else? Maybe I should hold fire until I become fully qualified? But then I'm not experienced hire as such as I don't have any audit experience (well, I've been assisting audits during my assistant management accountant time but not sure if that counts).


    I certainly don't want to go through the whole process of sitting exams again. I'm craving for weekends for myself But really want to move on in my career so I'm going to do whatever it takes.


    Any advice much appreciated
    You are an experienced hire, do not apply for grad roles. Finish your ACCA then explore the market. Why audit? I have definitely seen big 4 vacancies that accept ACCA, you should aim to go in at senior associate in my opinion.
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    (Original post by Tokyoround)
    You are an experienced hire, do not apply for grad roles. Finish your ACCA then explore the market. Why audit? I have definitely seen big 4 vacancies that accept ACCA, you should aim to go in at senior associate in my opinion.
    Why not Audit!

    Senior Associate is a second year position, shouldn't he aim for AM1 when he's qualified? (assuming its similar across big 4, this is the stage before qualification)
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    (Original post by M1011)
    Why not Audit!

    Senior Associate is a second year position, shouldn't he aim for AM1 when he's qualified? (assuming its similar across big 4, this is the stage before qualification)
    It varies by team and such but usually Senior Associates are fully qualified as well as possess some experience. Think 2nd year here is just called "Associate 2", then it goes SA1, SA2, Manager, Senior Manager, Director, then, "Big Bucks".
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    (Original post by Tokyoround)
    It varies by team and such but usually Senior Associates are fully qualified as well as possess some experience. Think 2nd year here is just called "Associate 2", then it goes SA1, SA2, Manager, Senior Manager, Director, then, "Big Bucks".
    Ah right, bit different at my firm; associate, senior associate, assistant manager 1, am2, manger, senior manager, director, partner.
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    (Original post by Tokyoround)
    You are an experienced hire, do not apply for grad roles. Finish your ACCA then explore the market. Why audit? I have definitely seen big 4 vacancies that accept ACCA, you should aim to go in at senior associate in my opinion.
    Thanks for your reply.

    I hope you don't mind me asking but do you (or have you) work(ed) in audit?

    Am I in fact an experienced hire with no previous audit experience?

    Don't get me wrong I certainly don't feel new to finance in general I am confident about my skills (incl. transferrable) and experience (management accounting) behind my belt but I don't know how this translates into sufficient criteria to become an auditor (let's say an associate).

    Questions coming to my mind here are what's the percentage of auditors that joined the firm outside the graduate intake? out of this number what's the percentage of staff with some university finance/management accounting/public sector background?

    I do have some management accounting experience but one can argue it's not the same as an audit exp...I will obviously argue the other way finding examples how similar both jobs are but it's the case of getting to the interview stage (and eventually getting the job) rather than applying pointlessly with no results.

    Why audit? why not? I know there are some aspects of the job that are rather dull but that's the case with all jobs. Even a rock star has to practice...again and again. Then again I have not explored the market properly yet to know what's out there (and reachable to me). I know what an auditor's job entails hence my choice. The company I'm in at the moment offers very little opportunities, essentially all in management accounting. I want to to get into one of the big accounting companies, possibly they will offer some transfer opportunities if I decide to do so.

    Sorry for the lengthy post. My reply is in fact addressed to everyone who replied to my post thanks for all your advice.
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    I have never worked in audit but do know a fair few who have/still do. You are definitely an experienced hire, you have pretty much qualified. Why would you enter at the same level as someone fresh out of uni? Or someone new to finance completely?

    A lot of people join outside grad intake, a lot of grads don't stick around for long anyway. People from HMRC, other big 4, smaller accounting firms, consultancies, any financial institution are more than welcome. It's not unusual. I can't say how many come from a university background, but certainly at big 4 they like people with different experience. You could end up having universities as your clients because you already have the network.

    I had a quick look for vacancies tagged with "ACCA" and there aren't many audit roles, lots of tax and a few consulting. My advice would be to search experienced vacancies using ACCA as a keyword, and see whats available/relevant to you.

    PwC
    KPMG
    Deloitte
    EY

    Only linked the big 4, you can do the rest yourself.

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