PwC Audit & Assurance

Audit & Assurance at PricewaterhouseCoopers

This is the largest graduate scheme offered by PwC, and recruits thousands of graduates nationwide.

Audit Industry Sectors within PwC

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 Available

The training is for ICAEW ACA.

Accounting college is attended full time for period of approximately 6 weeks at a time. Independant study is required in the evenings and weekends.

Applicant Requirements

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.

The ratio of applicants to jobs is estimated at between 8:1 and 10:1.

Contract Details

Your contract of employment with PwC will be for 3 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 55%. 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

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.

Time off in lieu (TOIL) is given for working overtime, up to a maximum of 6 days in total, after which you must use some of your acquired time off before accumulating any more. It is very common for people to max out their 6 days of TOIL and then be working overtime for no reward.

Travel Requirements

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.