Assurance is arguably the best general business training you can get at graduate level. It means you work and study alongside intelligent and inspiring people, building strong friendships and networks. You can also be happy you're making an astute choice - Assurance is a secure option, giving you marketable skills for the rest of your career.
Our audit and assurance services are vital to all kinds of businesses; start-ups, private companies, listed businesses and multinational corporations. Our clients typically have a legal requirement for an annual financial audit. We tailor our approach to suit the size of the client’s organisation and bring together people who have the right sector and industry knowledge.
Find out more about working in Assurance below:
We examine and report on a company’s financial data. Audit is the largest service offering within Assurance. We help organisations adapt to new regulatory environments, improve their external financial reporting and enhance their corporate governance procedures. Our way of working focuses on systems and controls that the businesses have in place. Where there are opportunities for improvement, we’ll make specific recommendations.
What is an audit?
An audit is defined as 'an examination of financial accounts or records to check that they are true and fair'. But what does this actually mean and why do we do it?
Every organisation we work with, such as companies, charities and public bodies, will prepare accounts in order to see how much profit or loss they are making, to keep a check on their assets and to see how much money they owe others. The people preparing these accounts usually work for the company, sometimes in management, but they don't necessarily own it. It's the shareholders who actually own the company who will seek assurance. They want to be satisfied that management have been running the company as they say they have, and that the financial reports they have produced are a fair reflection of what's actually been going on. It makes sense, and it is actually a legal requirement that companies over a certain size, have an independent party go in and check their accounts.
Who makes use of our services?
Nearly a third of the companies listed on the Irish Stock Exchange use PwC for audit work. Of the businesses in the Irish Times Top 100, the figure is 40%.
How are we organised?
In Assurance, we have over 1,000 professionals, divided into six separate sectors: Banking; Insurance; Investment Management (IM); Consumer Industrial Products & Services (CIPS); Technology Information, Communication & Entertainment (TICE); and Business Wealth Services (BWS).
Banking
We’re the largest and leading provider of assurance and advisory services to the domestic and International Financial Services Centre (IFSC) banking market. Our clients include domestic banks, building societies, IFSC banks, corporate treasuries and securitisation vehicles as well as large treasury centres. Typically, we work in teams of about five and over the course of the year, for six to eight clients. Initially, you’ll tend to focus on loans, debt securities, bank reconciliations, fixed assets and payroll before moving on to areas such as credit review, derivatives and big ticket leases.
Insurance
We provide audit and business advisory services to non-life, life, reinsurance and broker companies, here in Ireland and around the world. In fact, we’re the leading adviser to the insurance industry in Ireland and internationally. Your first year will generally involve focusing on bank and cash, management expenses, payroll, fixed assets, debtors and creditors. As your experience grows, you’ll take responsibility for key areas. such as investments and actuarial reserves.
The largest group within Assurance, we provide audit and business advisory services to investment management companies, fund administrators, custodians and investment funds. Our market share is over 60%. Working in a team consisting of three to 15 people, you’ll initially focus on areas such as investments, income and expenses but can expect to take responsibility for auditing an investment company from start to finish within your first year. In your second year, you’ll be able to lead smaller assignments.
We provide audit and business advisory services to plcs, subsidiaries of overseas clients, Semi-States, large private corporates and trade associations. Our clients operate in a large range of industries including Retail and Consumer, Pharmaceuticals, Engineering and Construction, Food, Energy and Utilities. Teams vary in size from two to 12 people. On smaller assignments you’ll work on a number of areas. On larger assignments you’ll work on just one or two, but still gain exposure to the key issues through team meetings.
Dealing with the domestic market, we focus on three specific sectors. We deliver practical, innovative services to the entrepreneurs behind Irish businesses as well as the companies themselves. In the Not-For-Profit Sector Services and Public Health Services, our knowledge covers areas such as statutory audits, internal control evaluations and organisational structure reviews. Most audit assignments here involve teams of up to five working on assignments lasting between one and five weeks.
Telecommunications, Informations, Communication and Entertainment (TICE)
We’re the market leader in providing audit and business advisory services to this sector. Our clients include major Irish corporations, as well as a significant number of US multinationals operating in Ireland. Our typical audit assignments involve teams of between two and 20 people working for up to eight weeks. From the outset, you’ll learn how to deal with clients effectively as well as taking responsibility for specific sections – these will probably be fixed assets, debtors, bank and payroll, but you’ll quickly broaden your experience in terms of both sections and clients.
Our investment in learning and development is one of the most obvious reasons that our graduates get so much out of their jobs. Not only do you study for an internationally respected business qualification, you also receive excellent development opportunities every day. You will have the chance to work with top-level clients, adding valuable experience to your learning as well as your whole career.
The skills you'll develop include, but are not limited to, people management, project management, technical skills, business awareness, coaching and mentoring skills, analysis, early responsibility and high-level communication skills gained through contact with very senior PwC and client staff.
You will be required to study for the Chartered Accountancy (ACA) qualification. There are a number of routes you can take to attaining your ACA qualification. It is important that you research and understand the possible entry routes and discuss your options at interview. Deciding the right route for you is an important choice, but the following illustrates your options and should help you to make the right decision.
Route 1 - Direct Entry studying for ACA
The majority of our graduate places are through our direct entry route, attracting students with a business related degree or postgraduate qualification. The range of exemptions from the ACA examinations is dependent upon the level and results of degree/postgraduate qualification obtained. Please visit the ICAI website for further information.
The firm will pay the following fees which arise during the ACA training contract period:-
Some of the business graduates whom we recruit will be offered sponsorship on the postgraduate Masters of Accounting courses at the following locations:
Waterford Institute of Technology
(students must have cleared CAP1 exemptions based on their primary degree and need to obtain over 50% in all examinations in line with ICAI)
Letterkenny Institute of Technology
(students must have cleared CAP1 exemptions based on their primary degree and need to obtain over 50% in all examinations in line with ICAI)
Postgraduate Diploma in Advanced Accounting – University of Ulster, Jordanstown
(students must have cleared CAP1 exemptions based on their primary degree and need to obtain over 50% in all examinations in line with ICAI)
MBS in Accounting – Dublin City University
(students must have cleared CAP1 exemptions based on their primary degree)
MSc Accounting & Finance – Dublin Institute of Technology
(students must have cleared CAP1 exemptions based on their primary degree and need to obtain over 50% in all examinations in line with ICAI)
Students being sponsored on the Masters of Accounting at UCD and not in receipt of a grant for course fees will receive a contribution of €7,000 towards the course fees. We provide laptops for all those undertaking Masters of Accounting courses,
For students sponsored on other accounting postgraduate courses and not in receipt of a grant for course fees, we will pay the course fees in full, up to €7,000.
The firm will pay a €575 book allowance for students being sponsored on all accounting postgraduate courses.
Students recruited who are currently pursuing a postgraduate course in accounting will receive an allowance of €2,500.
Route 3 - Professional Diploma in Accounting (PDA)
We recruit many students who are non business graduates. We offer sponsorship to non business graduates to study for their Professional Diploma in Accounting (PDA) before joining the firm. PwC offers sponsorship at the following colleges
University of Ulster, Jordanstown (must obtain over 50% in all examinations in line with ICAI)
For students sponsored a PDA course and not in receipt of a grant for course fees, we will pay the course fees in full, up to €7,000.
For students being sponsored on the Professional Diploma in Accounting we will pay a book allowance of €575.
Graduates who join PwC after successfully completing the PDA should visit the ICAI website for further information on exemptions from ACA examinations.
What better way to find out more about PwC than to meet our people
