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Assurance or Tax?

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  • 28-09-2010 10:21pm
    #1
    getonwithit1
    Registered Users Posts: 5 ✭


    Hey Guys,
    Im currently putting together applications for Graduate positions 2011 within Big 4...... UGH!

    Anyway, wondered if any of you professionals out there might have some advice to offer in terms of which route to take...
    The firms are asking specifically which department you would prefer to work in, and my guess is once you're in it, then that is where you stay for the 3.5 years!

    Which would benefit ones future greatly?
    Maximum earning potential?
    Tax Exams plus ACA exams........?

    Any thoughts or tips would be greatly appreciated....

    Many Thanks
    Tagged:


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    #2
    Hackysack
    Registered Users Posts: 412 ✭✭Hackysack


    I'm in Audit & Assurance.

    In audit you prettymuch work on reconfirming everything that are in Financial Statements. The Big 4 seem to divide up their departments based on the type of industry they're in, from areas like general retail business, technology oriented areas, health service related areas and financial services.

    People I know in Financial Services seem to be pretty flat out. They work pretty hard, but it's also shaping up to be the industry with the most jobs after that. The other areas are showing signs of slowing down, and it may be a bit more difficult to get work after your training contract.

    With regards to doing ACA & IATI exams. Some people in Audit have come into the company with a masters exempting them from CAP 2 (ACA), and begin working on their tax exams in Year 1, then switching to the FAE exams (ACA) in year 2, and then spending the rest of their time with the tax exams. (a point to note is that the FAE exams can only be attempted in Year 2 of a training contract only). It's quite difficult to pass and do both, but it can be done. But unless you have a masters, this method can't be done.


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    #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,008 Mod ✭✭✭✭Jim2007


    getonwithit1 wrote: »
    Anyway, wondered if any of you professionals out there might have some advice to offer in terms of which route to take...

    I would say start by picking something that interests you, that you're passionate about, otherwise it is going to be very hard to keep slogging at it over the long haul....
    getonwithit1 wrote: »
    The firms are asking specifically which department you would prefer to work in, and my guess is once you're in it, then that is where you stay for the 3.5 years!

    I guess it will depend on the firm, but either way they will ensure that you get enough experience in each area as required to meeting the training contract.
    getonwithit1 wrote: »
    Which would benefit ones future greatly?

    While training it's a good idea to get as broad a range of experience as possible. It's 20 years ago since I did my training with one of the big 4, but in those days, I did a spell in Audit, Tax, Financial Services, Company Law and end up in Management Consulting...
    getonwithit1 wrote: »
    Maximum earning potential?

    Not really relevant at this stage! Most accountant's earning power is more to do with what they did afterwards and in particular I would say their people skills - manage others, network, build bridges and so on.
    getonwithit1 wrote: »
    Tax Exams plus ACA exams........?

    Tax can be a very interesting area if you have a legal bend, but it can also be a very limiting area, to my mind it is something to specialize in after you've gained some all round experience.

    Good luck with that,

    Jim.


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