to work in different types of organisations
to working in different locations
What is audit and assurance?
Audits are retrospective, independent checks on an organisation’s financial situation. They are often a legal requirement and are usually carried out as part of a team at the client’s premises.
An auditor will assess the client’s systems and records for accuracy, honesty and risk.
Where audits are not required by law, many companies opt to have their financial information assured independently by accountancy firms.
Audit and assurance work involves:
- conducting risk analysis;
- developing your client communication skills;
- preparing financial statements; and
- identifying where systems may be failing and recommending controls.
Why work in audit and assurance?
Training in audit and assurance will give you a wide range of valuable experiences that will help you throughout your career.
You will visit companies that are performing well financially as well as those businesses that are struggling and need your teams' advice to recover and operate more profitably.
As well as gaining an insight into a range of different companies you will also have lots of opportunity to develop the soft skills required to be a leading business professional.
For an ACA student working in an audit or assurance team is a great way of learning about businesses and the types of decisions that are made on a day-to-day basis.
Working in practice also means you will enjoy a variety of work, both in terms of who you work with and the tasks you will be assigned.
You could find yourself working with staff in a large retailer one week and analysing the accounts of a wildlife charity the next.
Who can you work for?
Specialising in audit and assurance means that you will be able to work in any professional services firm offering external audit and assurance.
You will also gained the skills to work within organisations providing internal audit and assurance services.
of income was generated by the big four UK accountancy firms for auditing services in 2015*
*Data source: Financial Reporting Council, Key Facts and Trends in the Accountancy Profession, June 2016