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PWC Assurance application process

Hey everyone,

I recently got a job in Assurance with PWC and these forums were a huge help to me, so I thought I’d write about my own experience for anyone else going through the application process.

Application form

You need at least a few hours for filling this in – I filled mine in over a few days as I found some of the question quite tricky and it took me a few attempts to come up with answers I was happy with. For the “ideal client” question, pick a company that you’re genuinely interested in and not just one that’s been in the news recently, as they can ask you anything at all about it and it’s easier to talk about a company or industry that you actually have your own opinion on. If you get past this stage, your application form is your first point of contact with your interviewer – they do read them very carefully so make sure your grammar, punctuation etc is perfect and spell-check your answers. It’s also your first opportunity to sell yourself, so use as much of the word limit as possible.
They are quite quick about getting back to you – I was invited to take the tests within two days of submitting my application.

Online tests

I had to do numerical and diagrammatic reasoning tests. The numerical consists mainly of using information given in graphs and bar and pie charts to calculate things like percentage increases, changes in sales figures over time/between departments – it’s quite basic stuff but what makes it challenging is the time limit. Your performance on this test is apparently a good indicator of your likely performance in the ACA exams. The diagrammatic test is pretty straightforward - figuring out the next in a series of diagrams – but again, it’s pretty time-pressured. The most important thing is to watch your time, you only have about a minute per question and it’s so easy to linger on a question that you can’t get. You don’t have the option to go back on your answers so if you’re not sure, just mark your best guess.
I heard back within a day or two.

First interview

This can be with a manager from your service line or with someone from HR. The interview is very structured and most questions will start with “Tell me about a time when…”. They’ll ask for examples of almost all of the core competencies on their website, and normally for two examples of each. Using the STAR technique is a good way of answering the questions: describe the situation/task, then describe your actions and the result. The examples can come from anywhere and it’s good to show a range – so try to use ones from university, work and extra-curriculars. If you’re describing a team situation, be sure to emphasise your contributions. Be prepared to answer questions about the challenges you faced, what you learned and what you would do differently next time.
I was also asked about my understanding of PWC’s services (the question from the application form) and the divisions that audit was broken down into (TICE, CIPS etc). She also asked me about the ACA qualification, what I thought I’d be doing on a daily basis, what an audit was and how did PWC Assurance add value to their clients. We then discussed a couple of business stories of my choice. One of my stories was Microsoft’s bid for Yahoo – she asked me to describe the situation in detail, what I thought the benefits for both companies would be, whether I thought the takeover should take place, what the impact on the industry would be etc. For both of my stories she asked me what role PWC could play, so make sure that you’re always able to link your stories back to PWC and the services they can offer.
Make sure you have questions to ask – even if it is someone from HR you can still ask about the firm in general, their experience there and you can discuss things like voluntary work, secondments, which HR know a lot about.
I heard back from them by email after almost five days.

Assessment day

There were 14 of us for my assessment day at Embankment Place.

Tests

We first had to do paper re-sits of the online tests. We had 20 numerical questions to do in 20 minutes and 40 diagrammatic questions in 20 minutes. They give you a few practice ones first. Bring a watch/phone and your own calculator – the ones they give you are tiny and really fiddly.

Group exercise

There were six of us for this observed by three assessors. You’re given a booklet about a client who is considering implementing some changes. Each person also has a unique piece of information. You have 20 minutes to read and take notes and 30 minutes to discuss the case and reach a conclusion. They want to see if you can get on well with team-mates and contribute your own information and opinions without monopolising the discussion. Make sure that you speak, ask others what they think, listen to the others and build on what they say. You can get lucky or really unlucky with the team you’re put in; there were a few people in mine who kept taking the discussion off track and I really didn’t feel the exercise went that well, but it’s only one part of the assessment.

Partner/director interview

This was the least stressful part of the day for me. The director interviewing me was lovely and really laid-back – it was much less structured than my first interview. We talked about my choice of university course and subjects, my ERASMUS year in Paris, some of my work experience, what I learned from it and what I was disappointed with. Then she asked me about the company I wrote about as my ideal client on the application form and the challenges it faced. She asked me about the challenges facing PWC and the same kind of stuff about ACA, audit etc that I was asked in my first interview, and also what I thought would be the biggest challenge about starting work and how I would handle it. Even if the interview is less structured, they’re still looking for evidence of core competencies so bear this in mind when you’re answering the questions. They’ll have read your answers from the first interview so you probably won’t have to repeat any answers, but I noticed she was looking for the competencies that hadn’t come up in my first interview. They’ll also know the stories you’ve already discussed from your first interview, so have different ones prepared just in case. Again, make sure you ask them questions.

Lunch

Not much to summarise about this really! We had lunch in the building with four Assurance trainees, mainly first years. It was really informal and we were able to ask pretty much anything we wanted. The day finished at about 2.

My AC was on Friday and they called me Monday to offer me the job.

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Reply 1
Thanks for the info, I'm sure people here will find it really useful.

Where are you going to be working? I've got an assessment centre in Bristol coming up for Assurance/RAS on the ACA route.

Have to say my experience has been almost identical to your so far, the first interview was in far more depth than I thought it would be (and KPMG's was!) Really important that you have good examples and back up the points that you make.
Reply 2
I'm going to be working in London, can't wait! I completely agree, the first interview was far more in-depth than I'd thought - I'd even say it was harder than my director interview. Possibly because it was with someone from HR with years and years of experience with interviews as opposed to a manager who'd be relatively inexperienced at interviews. I also found it hard to build a rapport with her and her reactions were very hard to gauge, I came out of the interview with no clue as to how I'd done! Good luck with your AC. :smile:
I totally agree. I hate interviews with HR people - you never know how you've done! Plus the competency questions always seem to asked, almost invariably, in a robotic fashion.
Reply 4
well I have to say that my first interview was with a manager in RAS, but she seemed very good at interviewing and we built up a good rapport.

However the interview, which was billed at 1 hour, took 2 hours in total! I wasnt prepared for that, but thought they must be interested in me to run over like that!

Any tips for the AC? How did you find out info on your chosen line of service? I know a couple of people in the bristol office, so was thinking of asking them for the names of the RAS team members and taking them out for coffee. Is this too much?
Reply 5
2 hours?! Wow...but yeah, that's definitely a good sign. A lot of what I knew about Assurance I found out from PWC's website (and also their Irish one, as some of the information is different). I also found Wikipedia and Wikijobs good for getting more details of what happens during an audit (the different stages etc) so I talked about that during my interviews as well. For RAS you might be at a bit of a disadvantage - I don't think PWC give too much information about it on their website so you might have to do a bit more digging around for information, but once you know what the job entails and what you'll be doing on a typical day I'd say you're OK. About meeting up with people from the office...personally I'm a bit shy so it's not something I'd do but if you feel comfortable doing it, I'd say go for it - the worst that can happen is they say no. It might be better if someone you know personally asked them for you though - they might be more likely to say yes as then you wouldn't just be some random person approaching them?!
Reply 6
I know what you mean, I wouldn't approach direct - probably do some sort of third party introduction through someone I do know.

I agree - RAS isnt advertised so its hard to find out what they actually do? however, if you can find that out surely its an opportunity to show iniative?
Reply 7
Congratulations on getting the job - I found out today I got a job working in assurance (public services). Whilst I was surprised I have to say I'm over the moon about it.

I thought I should add my experiences as well. I had my first interview by a manager within public services and whilst there were several competency based questions it was as if it was done in a more informal manner. I was asked similar questions (basic ones like what I thought was in involved when working in public services) and further questions like what I thought were the main issues in accounting today (for which I went on about SOX, IFRS (particularly with it's implementation into the public sector from around 2010-11ish) and, arguably, how outsourcing of basic accounting tasks to developing countries may prove to be an issue (for this I referenced the likes of BBC and NHS outsourcing some accounting functions to places like India). The guy also asked me about my dissertation. The questions in this interview didn't seem too demanding on the assumption some preparation has been done on the basic competencies like commercial awareness.

With regards to the partner interview for me it was similar in a way to the first interview but the partner wanted to know a bit more depth by asking further questions on the same topic. It didn't seem too difficult either as I largely stuck by what I had said at the original interview and what was on my application form. She also asked questions like what I had planned for the summer, why I chose to do sixth year at school when I had the qualifications to go straight to uni and what others thought of me. However, I was not asked questions that I have seen crop up on these forums from time to time (such as how would I invest one million pounds or what I thought PWC's greatest asset was). I guess it varies from partner to partner.

As for the paper tests it might be worth me noting they are NOT negatively marked.
Reply 8
The first interview sounds absolutely dreadful. I have no concept of what added value means really, not properly... I have an interview (first) for assurance on Tuesday, and already feel out of my depth. I believe I have the potential and the fundamental skills to do this job, but I lack the specific knowledge they seem to expect... christ.
Reply 9
Not at all. Assuming you prepare some basic competency style answers (of which would simply be based on your experiences of uni or work I suppose) and the other important factors like commercial awareness (of which you could read up on the Financial Times or the BBC Business websites), issues affecting accountants (like the Sarbanes-Oxley Act and its impacts on companies operating in the UK) and the basic ones like why you want to work in assurance, why PwC and what you expect to be doing on a daily basis then you'll be fine. Sure you will get nervous but don't go in there expecting it to be some sort of interrogation by the Gestapo or KGB because it won't be. It'll probably go a lot better than you expect if you make the basic preparations.

EDIT - For the record I wasn't asked any questions relating to added value.

EDIT2 - Btw I found that a mock interview (that was very similar to how an accounting first interview would go) helped me a great deal in preparing for that original interview.
Reply 10
RobbieC
The first interview sounds absolutely dreadful. I have no concept of what added value means really, not properly... I have an interview (first) for assurance on Tuesday, and already feel out of my depth. I believe I have the potential and the fundamental skills to do this job, but I lack the specific knowledge they seem to expect... christ.


I didn't mean to panick anyone with what I wrote! For what it's worth, my first interview was the most difficult one I've ever had and I do think I just got a very tough interviewer. Others here have said that their first interview was more like a chat, so it completely depends on the interviewer you get. If you prepare well, and prepare for "the worst" so to speak, there's no reason why you can't do well. When she asked me how PWC added value to their clients, she was basically asking how PWC helped their clients with the services they provide. They want to know that you've got the skills and enthusiasm to do the job, knowledge of what it entails and a basic awareness of the environment you'll be working in (both the accounting industry and the business world in general). Sorry if I made it sound awful, but basically have a good idea of your potential answers before you go in, deliver them with confidence and you should be OK. :smile:
Reply 11
t_ucd

I was also asked about my understanding of PWC’s services (the question from the application form) and the divisions that audit was broken down into (TICE, CIPS etc). She also asked me about the ACA qualification, what I thought I’d be doing on a daily basis, what an audit was and how did PWC Assurance add value to their clients.


Hey, thanks for the very detailed information. I have an interview soon (tbc)

How and where did you find out about the division that audit was broken into? was it in general or in relation to PwC.

Thanks
Reply 12
lovinlife
How and where did you find out about the division that audit was broken into? was it in general or in relation to PwC.


No it was specific to PWC - the audit divisions for each firm are broken down slightly differently. I knew them already from my interview with PWC Ireland - they're listed on the Irish website but not the UK one. I didn't actually mention Public Services assurance or mid-tier, as the Irish branch doesn't have them and it went out of my head on the day, but apparantly what I did mention was enough. :smile:
Reply 13
So where do we find this breakdown of services in assurance/audit? I'm guessing wiki is a bad source.

And what is the ACA qualification? Do I need to know about this for an audit application?
RobbieC
So where do we find this breakdown of services in assurance/audit? I'm guessing wiki is a bad source.

And what is the ACA qualification? Do I need to know about this for an audit application?


Hey, can't help you with the first one, but just a heads up that you will need to know a little bit about the ACA for your first round, and I'm guessing second round, but I haven't been through that yet. Just kind of that it's front loaded - most studying in year one, the time requirements - how much you'll have to study per week, kind of things it covers, and I guess why you want to do it, how you'll cope with it etc.

It's demanding and they want to know that you're up to it. That's the impression I got from my interviewer.
Reply 15
Well I'll just insist on my continued desire to learn new skills and improve myself, I guess...

But why does someone going into audit for a summer scheme need to consider becoming a chartered accountant?!
Reply 16
t_ucd
No it was specific to PWC - the audit divisions for each firm are broken down slightly differently. I knew them already from my interview with PWC Ireland - they're listed on the Irish website but not the UK one. I didn't actually mention Public Services assurance or mid-tier, as the Irish branch doesn't have them and it went out of my head on the day, but apparantly what I did mention was enough. :smile:


great. ive found them on wikijobs. but are you expected to know much more detaild about the divisions. or is merely listing them ok?

also if applying for summer internship, is it necessary to know about ACA Qualification?
Reply 17
Why else would you want to go for an internship if not to become a chartered accountant after university?
Reply 18
So auditors need to be accountants in order to understand the financial exchanges when they examine company records then, yes? That does make plenty of sense, really.

But I'm not even entering into a graduate scheme yet, I'm going for a summer internship... Well, if I get in... which is probably about 100-1.
Reply 19
lovinlife
great. ive found them on wikijobs. but are you expected to know much more detaild about the divisions. or is merely listing them ok?

also if applying for summer internship, is it necessary to know about ACA Qualification?
Im applying for summer internship and just googled up the ACA. I dont have nearly the time to learn ins and outs... just wanted to see what it was, how its obtained etc, but I don't see what they can ask other than are you interested in doing it? Do you have the commitment to study blah blah.

For my first phase interview for the internship im focussed on (in this order):

1. Core competencies, ie give me a situation where you've... type questions, and questions about things on my application form.
2. Knowledge about auditing, and why I'm interested in doing that.
3. PwC as a company, and what other ways they help clients, ie-conforming to Sarbane Oxley and all that pazzazz, and helping management strategies and training for non-audited companies.
4. Researching the vital statistics on the company I listed as my ideal client (Hutchison-Whampoa), as until today I knew sweet FA about them. I now know a fair amount and what their main businesses are etc...
5. Some recent stories in the business world, in case I need to discuss them: Northern Rock, the current credit crunch in UK/USA/Europe and I was also going to look at the business between Dell and PwC maybe if I had time (yeah RIGHT!)

I put aside 3 days to prepare for this interview, and even that doesn't seem enough. It'd ridiculous, I'm trying to revise for my University 3rd year exams, but have had to stop and sort out all this. I never knew what any of this was before I started applying. It's terrifying.
4.