PwC Advisory Role

Carlitos

Hey I hope there might be some kind folks able to shed some light.

I accepted a role in Process Assurance in the advisory section at pwc this autumn, I'm delighted to have gotten a job at such a big company but as always I'm now starting to panic.

The accountacy exams are pretty much a "do-or-your-out" situation, but during my masters i really wasnt a fan of such hardcore accountancy and thus i applied for a slightly different role in Advisory.

If I don't take the exams I've heard it's 99% that I'd be let go. I don't understand why I need to become chartered if i'm not necessarily auditing

If anyone has experience in the advisory area in pwc or the other big four id love to hear your thoughts.

jm1985

yep basically if you fail your exams you will be let go. Its more of a 100% certainty. There were a number of people in the advisory department last year who failed the CAP1 exams in the repeats and all got let go.

It has all become very cut-throat these days.

SO basically, if you feel that you are not up to the standard for the CAP1 (first set) of exams, then there is not much point in accepting the role as you will be let go in a years time. True, it doesn't make much sense that people in Advisory have to do the accounting exams when they don't even touch on that type of work, but thats the way it goes.

Hope that helps.

lanternman

Especially in this climate you will be out if you dont get your exams unless you are son/daughther of the right person or sleep with the right person.

The logic being that you are costing the firm money while out on study leave. Also, the firm is over staffed and just looking for reasons to reduce its head count.

It is also just a policy to keep some pressure on the trainees. Previously, some firms were a bit forgiving when it came to finals but at the moment I think this has changed.

trudub

One of the main reasons they want you to complete your ACA is just for the prof qualification. Companies that have accountancy and audit as their foundation typically want to keep their staff competitively qualified because other firms can quote their advisory team as a team of 'accountants'. The Big 4 are notorious for this. Theres also the future aspect. Theres no way you will make senior or even junior management without a prof qualification. Its a corporate culture, alsways has been. You would struggle to find a director of a profitable finance based firm that is neither a qualified accountant or solicitor/barrister. My advice is that if you dont want to become an accountant then start quietly looking for another job while getting as much experience (and friends and contacts within the company who can help you down the line) as you can and use the Big 4 label to boost your CV

top_dag20001

trudub wrote: »

One of the main reasons they want you to complete your ACA is just for the prof qualification. Companies that have accountancy and audit as their foundation typically want to keep their staff competitively qualified because other firms can quote their advisory team as a team of 'accountants'. The Big 4 are notorious for this. Theres also the future aspect. Theres no way you will make senior or even junior management without a prof qualification. Its a corporate culture, alsways has been. You would struggle to find a director of a profitable finance based firm that is neither a qualified accountant or solicitor/barrister. My advice is that if you dont want to become an accountant then start quietly looking for another job while getting as much experience (and friends and contacts within the company who can help you down the line) as you can and use the Big 4 label to boost your CV

Tell that to the advisory guys in the North - plenty of non-ACA qualifieds and 2:2 grads in manager positions up there.

eoferrall

Well you do more than Auditing in the Accountancy exams. the exams cover company law, finance, management accounting, tax etc in addition to auditing and financial reporting. the finance and management accounting side of it I would have thought would help in advisory side with mergers and aquisitions etc. the finance covered over the qualifing exams is quite wide rangeing and focuses on integrating your knowledge with other areas.

So I would strongly think the qualification is jsut as relevant to advisory as auditing. accounting is more than just auditing!

trudub

top_dag20001 wrote: »

Tell that to the advisory guys in the North - plenty of non-ACA qualifieds and 2:2 grads in manager positions up there.

TBH im not familar with the guys in the North, either way its the way its done down here

Carlitos

Looks like I could be in for a rough few months after I finish my Masters. Is there anywhere I could get a look at CAP1 exams - I was initially delighted to get this job, now it's become a serious worry for me

Thanks for the replies, it at least helps to know what lies ahead, even if it sounds terrible.

Slippers

Sample papers and solutions.

Vaioer

Carlitos,

I work in a similiar area, just after completing Year 1(Exam Results pending).

Our department would be broader that just Process Assurance but we do plenty of that as well.

The reality is that yes, there is no way round the CAP1 thing and no it isn't easy. Like you, I found it harder as you are never seeing an audit or completing a tax return. However that is compensated by the fact that I don't want to practice and just want to get the qualification and get out.

People in our department regularly get seconded to other departments(withing advisory and also within audit) and they say it is a great help when it comes to exams.

My intake had big problems with the DEBK, with plenty of people not passing it first time round.

maybeso

Getting into the process assurance department in pwc is an excellent opportunity.

If you want to succeed in this line of business you will need some professional qualification. I would be a bit concerned that you did not know that you would have to pursue a professional qualification upon joining a firm such as pwc! And that you think chartered accountancy is only about auditing! -Look at what eoferrall said. I think you will be surprised if you actually put a bit of reasearch into the qualification.


ACA exams are tough. But they are tough for everyone. Audit is hard for people in tax, corporate finance, and assurance. Tax exams are tough for people in audit and assurance. Business Analysis exams are tough for people in audit, tax etc.. you get my drift. Everyone has a few subjects that they hate. But if you are serious about pursuing this opportunity you will have to be prepared to put in a bit of work for them.


And remember in pwc there will be lots of people working with you who will be studying also. And I guarantee they will not enjoy them either And you will have lots of support and time off for the exams.

So, don't give up before you even start! It will be worth it in the long term and you will get excellent training and it will be an excellent start to your career.

tipptop2008

Remeber as well in your contract it should state that you get two gos at the exams so if you fail some of them the first time you can repeat them a few months later.