[erklam]

Hi everyone,

I now was given the choice of several internship positions at PwC in Assurance and I would like to ask for some advice.
My options are:
- Assurance (core)
- Risk Assurance
- Forensic Assurance
- Pensions Assurance
- Public Sector Assurance

I am having a hard time deciding between Risk Assurance and "Plain" Assurance, and I also want to consider forensic assurance. For some reasons I ruled out pensions and public sector but if someone tells me they are great, I wouldn't mind going for them.

I read about each but cannot really see how they differ in practice. Are they very different? Which one would provide me with the best skillsket for a possible future career in consulting? Or are they all the same in this respect? Which one is the most challenging/exciting?

I would appreciate any input! Even though I have spent hours talking to PwC employees and partners, the actual difference between these types of Assurance still remained unclear.

Thanks!

[M1011]

Personally I think you've ruled the right two out, and I'd also rule out Forensics (but that's just my preference really).

I imagine 'core' assurance breaks down further into multiple areas. Don't quote me on this (check with your contacts), but I imagine 'core' will break down into Corporate Audit and Financial Audit, which will break down further into the likes of Consumer Business or Technology on the corporate side and Insurance or Investment on the financial side (few examples, will be more divisions then that). So perhaps if you can get further details on those areas (my big 4 provided a breakdown on each so hopefully PWC do the same) that will help you make a more informed decision. However, with this being an internship, you might not get a choice past 'core' assurance? Bear in mind that the division dictates the clients you'll be working with (the actual audits will be similar more or less), so if you hope to consult in one of those industries then it may be a good idea to choose that division as you'll be working with the right businesses and may even be able to build up some contacts.

I don't really know much about risk assurance, so perhaps someone else can advise on that one.

[.ACS.]

Out of curiosity, why have you ruled out pensions audit? Is there something specific you didn't like about the role?

Also, have you consulted the PwC website thoroughly? It talks in-depth about the differences between financial assurance and risk assurance.

[Samtheman1]

Pensions audit is crushingly dull.

The best one to choose will be core assurance, and then risk assurance. At pwc choose RAS if you are in top tier as you will get to travel. If not, definately choose core assurance. The rest are terrible.

[erklam]

(Original post by Samtheman1)
Pensions audit is crushingly dull.

The best one to choose will be core assurance, and then risk assurance. At pwc choose RAS if you are in top tier as you will get to travel. If not, definately choose core assurance. The rest are terrible.

Thank you for your input, it's great help! I am pretty much trying to decide between Risk assurance and core assurance right now. I assume core assurance is much broader, isn't it? Isn't risk assurance very limited? Do you mean risk assurance when you write RAS? And do you think the benefits of Risk assurance still be relevant for me as an intern?

Thank you!

[Samtheman1]

Yep RAS = Risk Assurance Services.

RAS will generally be testing the internal controls of larger companies (as smaller ones are less likely to have them) so it will ensure the systems which drive the financial controls are working properly (i.e the accounts receivable clerk stamps the invoice etc etc. Whereas core assurance will be testing the actual balance (i.e sending out debtor letters to debtors).

If you intern in RAS you are likely to be given RAS only as a grad role. If you intern in core assurance you can have the choice. Therefore, whilst you may end up on smaller jobs, opting for core assurance would be better to intern in.

[erklam]

(Original post by Samtheman1)
Yep RAS = Risk Assurance Services.

RAS will generally be testing the internal controls of larger companies (as smaller ones are less likely to have them) so it will ensure the systems which drive the financial controls are working properly (i.e the accounts receivable clerk stamps the invoice etc etc. Whereas core assurance will be testing the actual balance (i.e sending out debtor letters to debtors).

If you intern in RAS you are likely to be given RAS only as a grad role. If you intern in core assurance you can have the choice. Therefore, whilst you may end up on smaller jobs, opting for core assurance would be better to intern in.

Thank you, this is all I had to know! Have a nice day!