How are PwC audit departments divided up?

shinerman

I've received two offers for audit training contracts, from PwC and deloitte. In trying to decide between the two, I'm trying to make sure that I don't get too pigeon-holed into doing audits on one specific type of company so as to get as much experience as possible. I know that Deloitte's audit dept is broken up into FS dept and TCB dept, and that for example if you were in the TCB dept you could be doing anything from an advertising company to an aviation company. I think this would be a good broad experience. For the PwC application we were asked to put down our preferred dept, of which there were several fairly narrowly defined departments. I put down pharmaceuticals. Does that mean (providing they give me my preferred dept) that I would spend the three years just auditing pharmaceuticals and medical device companies? Or would I be part of the 4 broader depts mentioned in the brochure , cant rermeber the names of those now, but I know there was two Financial Services depts and two other depts.

Da GOAT

check their websites first, they probably have the split and the exact terms there.

An Citeog

http://www.pwc.com/ie/en/careers/graduate/pwc-assurance.jhtml

In Assurance, we have over 1,000 professionals, divided into four separate sectors: Banking & Insurance (B&I), Asset Management (AM), Consumer Industrial Products & Services (CIPS) and Technology Information, Communication & Entertainment (TICE).

Banking & Insurance (B&I)
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 treasury 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.

Our Insurance group provides 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.

Asset Management (AM)
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 dominates this market sector at 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.

Consumer Industrial Products & Services (CIPS)
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, Not-For-Profit Sector Services and Public Health Services. 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.

Technology Information, Communication & 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.

laser08

Hi I am due to start with one of the big four in autumn but I am unsure what department to go into. It's between financial services and technology information and entertainment. Could anyone who knows what kind of work, what type of clients I will be working for in either department etc let me know thanks

levi

If you've signed your contract, you've probably already been allocated a department unless they've specifically offered you a choice.

There's more travel with non FS Audit dept so if you would prefer to be in Dublin most of the time, join FS.

blackwhite

An Citeog wrote: »

http://www.pwc.com/ie/en/careers/graduate/pwc-assurance.jhtml

PwC have now merged CIPS and TICE into one single department.
Staff in the new department work across a broad range of clients, basically could be anything non-FS. The more senior you get, the more specialised you tend to get, so you will see managers who do mainly pharma/retail etc.
When you specify an industry in the application it will likely mean you will be put on one or two clients in that industry, but will still be available for the full pool of jobs in the dept.

niallm2034

I remember at the dinner in the PWC offices before the interviews took place, that one of the employees at my table said they bring you in the month of March before you start and you get to write down which area you would like to work in, I think this just applies to those who do masters though!

zizo

blackwhite wrote: »

PwC have now merged CIPS and TICE into one single department.
Staff in the new department work across a broad range of clients, basically could be anything non-FS. The more senior you get, the more specialised you tend to get, so you will see managers who do mainly pharma/retail etc.
When you specify an industry in the application it will likely mean you will be put on one or two clients in that industry, but will still be available for the full pool of jobs in the dept.

This is correct the new department is called International & Domestic Business, which operates on 3 floors in PwC's Dublin office. Im told in training you will be rotated between all 3 sub-divisions, which I like the sound of. It offers the broadest experience without a doubt.

blackwhite

zizo wrote: »

This is correct the new department is called International & Domestic Business, which operates on 3 floors in PwC's Dublin office. Im told in training you will be rotated between all 3 sub-divisions, which I like the sound of. It offers the broadest experience without a doubt.

Rotated makes it sounds a lot more formal that it is.

Basically, you will be in a pool of staff that managers from any one of the three groups can pull from. You will probably end up working on jobs across all three sub-groups, but you will also most likely spend the majority of your time on jobs from one of them.

libnation

Big 4 audit departments are broadly divided into hell on earth down the country (but with expenses paid) or hell on earth in Dublin.

The new pwc merged department sounds good experience wise but ive heard that Deloitte do that already in their FS and non FS departments.