Audit & Assurance is the largest graduate scheme offered by PricewaterhouseCoopers (PwC).
Audit Industry Sectors within PwC
[Edit]Graduates joining at the Associate level have a choice of what industry sector they would like to work in, but must make this choice before joining. The sectors are:
- I&IM - Insurance & Investment Management
- B&CM - Banking & Capital Markets
- TICE-Energy - Technology, Information Communication, Entertainment and Energy
- CIPS - Consumer Industrial Products and Services
Additionally there is also London Middle Markets which specialises in the audit of mid-sized companies.
In financial services audit the hours are usually longer and the work more technical and less varied than in other sectors. When making your choice, you will be committing for the duration of your training contract. It helps to have an idea which sector you would like to join and why prior to your interview.
Training
[Edit]The training is for ICAEW ACA. Accounting college is attended full time for period of approximately six weeks at a time. Independent study is required in the evenings and weekends.
Applicant Requirements
[Edit]The standard applicant will have a 2.1 in any degree from any university. Intake is approximately 50% finance/business/economics related subjects, and 50% other.
Contract Details
[Edit]Your training contract with PwC will be for three years. You will be expected to study in evenings and weekends towards the ACA exams. You are not paid or rewarded for study time at the weekends, however you will attend college and you are paid to do so. Your college fees will also be paid for.
You are required to pass all your exams. The pass mark is 50 or 55% depending on the module. Results between 45% and 54% are permitted one resit, at the expense of the individual. Results below 45% and failed resits will result in immediate dismissal.
Overtime Arrangements
[Edit]As part of the contract, you will be required to work overtime on demand. Audit work is seasonal and busy season is usually January - March. You may find yourself working a lot of hours during this period, especially on financial services clients in London.
Travel Requirements
[Edit]As most of the work will be performed at clients, you will be required to travel considerably. All your expenses will be reimbursed. For London auditors working in financial services, you may well be required to stay in hotels around the country for weeks at a time, returning only at weekends.
For more information about PricewaterhouseCoopers (PwC) visit the WikiJob forums.
14 January 2009 - 6:22pm
1Ger
Hey Colouringin,
first of all thanks for the info.
I have been trying to research these divisions of the assurance sector at PwC in London and I was just wondering where you got that information from as it does not seem to be stated expressly/clearly on the PwC website itself.
I can confirm that all other offices of PwC just have an assurance sector, without the different divisions.
29 January 2009 - 12:22am
Nishuu1
1Ger,
I was wondering whether you have had any luck in finding out more information into these divisions. If you have, could you please post any information you got on this blog.
29 January 2009 - 2:55am
colouringin
Hi
Sorry, the groups for London were sent to me in an email once i had received my offer. Speaking with a director in my interview, they had restructured london audit to these new groups to allow for more diversity in LTT and LMT i think. B&CM and I&IM still remain exactly the same.
29 January 2009 - 12:41pm
Nishuu1
Hey colourign,
But were u asked by the interviewer about what division you would want to work for if PwC gave you an offer because I was asked this in my first interview and I just said honestly, I didn't know how the divisions were divided up. I felt so stupid. If u were asked, what did you say?
29 January 2009 - 5:35pm
colouringin
I wasn't asked in my first interview but in my 2nd interview I said LMT as it seemed the most diverse and I felt that it kept my options open for longer as I'm starting from a non commercial background. I don't think they really expect you to know much about the divisions during the first interview considering they are not even on the website so I wouldn't worry too much.
24 February 2009 - 3:12pm
auditabc97
Does anyone know what the graduate starting salary is for London Assurance/Audit?
24 February 2009 - 4:34pm
Redsuperted
Low to high 20's depending on firm. Big 4 are all around 25,000 - 27,000 in London, a little less outside.
24 February 2009 - 4:48pm
auditabc97
Thanks. I meant PwC specificity - has anyone received an offer this year and willing to share?
27 February 2009 - 12:42pm
auditabc97
I guess you meant:
LTT: FTSE 100
LMT: FTSE 250
150 & 200 don't exists (http://www.ftse.com/Indices/UK_Indices/index.jsp)
1 March 2009 - 11:26pm
thegreatdebate
Pwc Audi in London was 27k last year for a fact as i have a friend there in financial services audit, and this yr apparently (from reading comments on here) its risen by 1k. IM not too sure if theres any difference in terms of audit division, i know tax usuallys pays an insignificant more.
20 May 2009 - 4:50pm
unique1
Hi guys,
I got a second interview for an assurance vacancy but got no idea what to prepare on. Any ideas?
Thanks a lot.
Assurance London
I am not sure about other offices but the Assurance structure in London is now:
B & CM
I & IM
LMT - london mid tier (FTSE 150, AIM listed - small companies and entrepreneurs - small audit teams)
LTT - london top tier (FTSE 200 - big audit teams etc)