Offered a trainee contract in tax, but I really want a career in audit

new32234

Hi guys sorry if this sounds like a silly question but I was wondering if you get offered a trainee contract in tax, say after the contract ends in 3 and a half years and after you complete your professional accountancy exams, can you still make a switch from tax to a career in audit ??

If so, would it hurt your chances of acquiring employment as a qualified auditor after your trainee contract as your main field of work experience would be in tax

The employer offers a bit of audit work, a bit of consulting, with the main focus being on tax of course

new32234

Has anyone got advice on this ? Im really stuck on what I should do

bigmc23

new32234 wrote: »

Has anyone got advice on this ? Im really stuck on what I should do

I can't see someone who worked in tax for the duration of their contract becoming a qualified auditor, can you? Where does the love for audit come from anyways? Im working in audit in the big four and trust me its boring. 90% of newly qualifieds leave the field after the 3 years is up. Given the opportunity you've got id consider tax as a career choice. Good luck

new32234

bigmc23 wrote: »

I can't see someone who worked in tax for the duration of their contract becoming a qualified auditor, can you? Where does the love for audit come from anyways? Im working in audit in the big four and trust me its boring. 90% of newly qualifieds leave the field after the 3 years is up. Given the opportunity you've got id consider tax as a career choice. Good luck

Well why not ??

I've always had an interest in audit, I have previous trainee experience in an audit firm and I enjoyed it very much, I dont find it boring

90% leave because either they cant hack it, or they're able for it but don't have interest in the work and find it boring, you find the work boring for example

I would consider tax as a career choice but I dont like tax

Jim2007

new32234 wrote: »

Hi guys sorry if this sounds like a silly question but I was wondering if you get offered a trainee contract in tax, say after the contract ends in 3 and a half years and after you complete your professional accountancy exams, can you still make a switch from tax to a career in audit ??

If so, would it hurt your chances of acquiring employment as a qualified auditor after your trainee contract as your main field of work experience would be in tax

The employer offers a bit of audit work, a bit of consulting, with the main focus being on tax of course

It might make it a bit difficult to land your first job after qualifying, but once you are a few year in, it will make very little difference.

You know in many cases people box themselves in, rather than being boxed in! They don't apply for alternative positions, they are unwilling to accept a short term pay cut to switch direction or they simply do not have the courage to do it.

shuyin1

new32234 wrote: »

Well why not ??

I've always had an interest in audit, I have previous trainee experience in an audit firm and I enjoyed it very much, I dont find it boring

90% leave because either they cant hack it, or they're able for it but don't have interest in the work and find it boring, you find the work boring for example

I would consider tax as a career choice but I dont like tax

Working mainly in tax for your entire contract would pretty much limit you to tax. Can't see you jumping ship from tax senior to audit senior, and vice versa. Small firms may be different, jack of all trades of sorts.

Tarzana

Jim2007 wrote: »

It might make it a bit difficult to land your first job after qualifying, but once you are a few year in, it will make very little difference.

You know in many cases people box themselves in, rather than being boxed in! They don't apply for alternative positions, they are unwilling to accept a short term pay cut to switch direction or they simply do not have the courage to do it.

If I boxed myself in, I'd be a smelly bag lady by now. Needs must!

new32234

Jim2007 wrote: »

It might make it a bit difficult to land your first job after qualifying, but once you are a few year in, it will make very little difference.

You know in many cases people box themselves in, rather than being boxed in! They don't apply for alternative positions, they are unwilling to accept a short term pay cut to switch direction or they simply do not have the courage to do it.

Hi, right so are you saying I'll have to get a trainee audit position for at least 1 year after im fully qualified to get myself quickly up to speed on what I missed out as a trainee auditor ??

I suppose 1 year extra as a trainee wouldn't be too bad, at least then as your suggesting I'd be up to speed as if I got a position as a trainee auditor for 3.5 years

So if you were me and I were you, you would take the tax trainee offer even though you'd have no interest in a tax career ?

new32234

shuyin1 wrote: »

Working mainly in tax for your entire contract would pretty much limit you to tax. Can't see you jumping ship from tax senior to audit senior, and vice versa. Small firms may be different, jack of all trades of sorts.

Yeah I'm probably going to need some audit trainee experience after I'm fully qualified to get myself up to speed fast on the work I would've been doing as a trainee auditor

What would you do in my position ? Take the tax trainee offer or keep on looking elsewhere for a trainee audit place ?

Ticking and Bashing

I'd go for audit...you mentioned above that you enjoyed the audit training you received - I'd defo agree with the comments above about boxing yourself in if you opt for tax. I've seen people move from audit to tax after their contract. If you get a contract with the big4, I'm sure this is something they could facilitate.

Also - would you consider doing a masters? I've seen master grads do part 2 of the tax exams in first year, the FAE's in second year, and part 3 of the tax exams in their final year.

G'luck with your decision.

new32234

Ticking and Bashing wrote: »

I'd go for audit...you mentioned above that you enjoyed the audit training you received - I'd defo agree with the comments above about boxing yourself in if you opt for tax. I've seen people move from audit to tax after their contract. If you get a contract with the big4, I'm sure this is something they could facilitate.

Also - would you consider doing a masters? I've seen master grads do part 2 of the tax exams in first year, the FAE's in second year, and part 3 of the tax exams in their final year.

G'luck with your decision.

I cant seem to secure an audit trainee position though I go for a dozen audit trainee interviews no luck with an offer, I go for 1 tax trainee position just 1 only applied for 1 as well, boom I get an offer straight away, its always the same

I had my mind set to start CAI on the elevation programme because I had a good idea that I wouldnt secure an audit trainee place before October

I've no interest in a masters

You said youve seen people move from audit to tax, can people not move from tax to audit ? I'd be willing to take a pay cut even though I'd be fully qualified

WhatYaSay

Presuming the tax contract means doing tax exams, it seems like an awful lot of extra work when you have no interest in pursuing it. Chartered Accountants have a list of firms on their website that are looking for trainees and might have a few that most people wouldn't think to apply to if that's any use to you.

shuyin1

new32234 wrote: »

Yeah I'm probably going to need some audit trainee experience after I'm fully qualified to get myself up to speed fast on the work I would've been doing as a trainee auditor

What would you do in my position ? Take the tax trainee offer or keep on looking elsewhere for a trainee audit place ?

If you want to be an auditor you'd need the relevant experience. Say nothing and keep trying for an audit position, use tax as a fall back. You could always get a years exp in a firm to open more doors, jump ship to audit them. Your firm may also let you move internally. Doing 3.5yrs in tax is not recommended for what you're after I think.

new32234

shuyin1 wrote: »

If you want to be an auditor you'd need the relevant experience. Say nothing and keep trying for an audit position, use tax as a fall back. You could always get a years exp in a firm to open more doors, jump ship to audit them. Your firm may also let you move internally. Doing 3.5yrs in tax is not recommended for what you're after I think.

What do you mean by say nothing ?? I think the employer wants to me to sign the contract before the end of this week, so I cant really put them on the long finger, and if I do I'd say they'd just give the place to someone else

Its a catch 22 situation for me really

I didnt really want to say this but its a top 10 firm, so its a decent opportunity for me, even though its tax

Do you mean that a firm might let trainee's jump ship from tax to audit in the firm within the 3 and a half years ???

new32234

WhatYaSay wrote: »

Presuming the tax contract means doing tax exams, it seems like an awful lot of extra work when you have no interest in pursuing it. Chartered Accountants have a list of firms on their website that are looking for trainees and might have a few that most people wouldn't think to apply to if that's any use to you.

You mean the AITI exams ?? No it's not in the tax contract that I have to sit the AITI exams

They recommended that I sit those exams after I'm fully qualified if I want to, which I don't

On the CAI site, yeah I know I keep an eye on it

shuyin1

new32234 wrote: »

What do you mean by say nothing ?? I think the employer wants to me to sign the contract before the end of this week, so I cant really put them on the long finger, and if I do I'd say they'd just give the place to someone else

Its a catch 22 situation for me really

I didnt really want to say this but its a top 10 firm, so its a decent opportunity for me, even though its tax

Do you mean that a firm might let trainee's jump ship from tax to audit in the firm within the 3 and a half years ???

Accept the offer, you're not locked in for entire 3.5 years. 1st year is like a probation, either party can initiate a notice period. Chartered course doesn't begin till Nov, ample time to part ways should you get an audit position by then.

new32234

shuyin1 wrote: »

Accept the offer, you're not locked in for entire 3.5 years. 1st year is like a probation, either party can initiate a notice period. Chartered course doesn't begin till Nov, ample time to part ways should you get an audit position by then.

Oh right I see, I didn't know that about the 1st year being a probation

Ok, say if I did leave my tax trainee position after 1 year and I secure an audit trainee position shortly after then, could I start the audit trainee contract as if the position I just left was an audit trainee position instead of tax ? Or would I have to start the 3.5 years from scratch for the audit trainee programme ?

I do have some experience in a small audit firm so that might help me ? Would it differ from firm to firm maybe ?

GraGra90

new32234 wrote: »

Oh right I see, I didn't know that about the 1st year being a probation

Ok, say if I did leave my tax trainee position after 1 year and I secure an audit trainee position shortly after then, could I start the audit trainee contract as if the position I just left was an audit trainee position instead of tax ? Or would I have to start the 3.5 years from scratch for the audit trainee programme ?

I do have some experience in a small audit firm so that might help me ? Would it differ from firm to firm maybe ?

Your probation period differs from firm to firm, in my firm probation was 6 months and again the terms will vary depending on your contract.

I am a tax trainee currently and while I've seen people move from audit to tax, I've never seen it the other way around. To become an auditor you need to clock up a certain number of "audit days" experience to get your auditing certificate. Therefore I would recommend if you want to be an auditor, train in audit. Tax is a very different experience, personally I can't think of anything worse than audit but it's a personal choice thing. Remember that the work you did in a small audit firm may not be representative of what you'll be doing in a larger firm as people tend to be more specialised in larger firms.

Jim2007

new32234 wrote: »

Do you mean that a firm might let trainee's jump ship from tax to audit in the firm within the 3 and a half years ???

Look you never can tell where an opportunity will lead to. Someone else on the program may drop out and an opportunity opens up, you my establish a good relationship with a partner or senior manager who is willing take you into their department. You just never can tell.

In any case the firm will have to ensure that you get the minimum amount of audit experience required to qualify as an accountant and of course you will have big name on the resume.

new32234

shuyin1 wrote: »

Accept the offer, you're not locked in for entire 3.5 years. 1st year is like a probation, either party can initiate a notice period. Chartered course doesn't begin till Nov, ample time to part ways should you get an audit position by then.

So even if I signed a 3.5 year trainee contract and leave the firm before I even started working there if I secured a trainee audit place in the meantime, I could just cancel the tax trainee contract without any problems ?

Jim2007

new32234 wrote: »

So even if I signed a 3.5 year trainee contract and leave the firm before I even started working there if I secured a trainee audit place in the meantime, I could just cancel the tax trainee contract without any problems ?

Well they might through a little bit of a wobbly, but they are not going to try and make you work there if you don't want to....

new32234

GraGra90 wrote: »

I am a tax trainee currently and while I've seen people move from audit to tax, I've never seen it the other way around. To become an auditor you need to clock up a certain number of "audit days" experience to get your auditing certificate. Therefore I would recommend if you want to be an auditor, train in audit. Tax is a very different experience, personally I can't think of anything worse than audit but it's a personal choice thing. Remember that the work you did in a small audit firm may not be representative of what you'll be doing in a larger firm as people tend to be more specialised in larger firms.

Yeah one or two other posters have said the same thing about not knowing anyone moving from tax to audit while still being a trainee
Yeah I've a fairly good idea of the audit work experience requirement in order to become fully qualified

I'll probably accept the offer and hopefully with a bit of luck if Im very lucky be given the chance to switch from tax to audit within the firm
I'll most likely leave the firm when probation comes around if there's absolutely no chance of me jumping from to tax to audit within the firm

new32234

Jim2007 wrote: »

Well they might through a little bit of a wobbly, but they are not going to try and make you work there if you don't want to....

Ah okay cool thanks I just thought there might have been one or two small legal issues if I terminated the contract early before I even started working, it is a 3.5 year contract after all so just wanted to make sure

GraGra90

new32234 wrote: »

Yeah one or two other posters have said the same thing about not knowing anyone moving from tax to audit while still being a trainee
Yeah I've a fairly good idea of the audit work experience requirement in order to become fully qualified

I'll probably accept the offer and hopefully with a bit of luck if Im very lucky be given the chance to switch from tax to audit within the firm
I'll most likely leave the firm when probation comes around if there's absolutely no chance of me jumping from to tax to audit within the firm

Check your probation details, it may be the case that either party can terminate the agreement or it may just be that the firm can terminate your employment. You don't want to find yourself in a situation where you choose to leave and the firm requests you repay all monies they've spent on your CAI course or any other professional qualification. Some firms will request this back, others won't, just something to think about!