Pros and Cons of Training to become an auditor outside of Ireland

sob1467

Hey,

My situation is quite unique. I have went to college in Ireland and German and am graduating from a German university, basically it does now not look likely that I am going to graduate with a 2.1 It will instead be a very high 2.2

I want to do a trainneeship as an auditor with the big 4. It is no longer an option doing a trainee program with the big 4 in Ireland, so I am looking abroad into doing it.

One can study for the ACCA exams whilst also working for the big 4 in either Luxembourg or Switzerland as long as you can speak German and English.

(Germany is not an option because the programs there make you do their own professional auditor exams, which are next to impossible for non mother tongue speakers.)

1) My question is, would people recommend me to try and work in Luxembourg or Switzerland or would it be better to return to Ireland and do a training contract with a smaller company in Ireland for my future career?

• Neither Luxembourg nor Switzerland offer graduate programs per say, they offer unlimited contracts, with time off to study.
• Does anyone know of any audit colleagues who worked in these countries and any experiences, good or bad?
• The pay is also much higher is Europe, but that is not my main motivaiton


2) I assume that it is regardless where I do the ACCA exams, as they are the same paper in each jurisdiction.

Thanks in advance

Jim2007

Well I have to say that I'd be very surprised if a Swiss Big 4 would be willing to take you on as a local trainee if you were not willing or unable to do the local Swiss exams - what they can use on would be very limited. Remember a lot of the work done by a Big 4 is helping clients comply with local requirements, so if you don't know the local stuff it is a problem

Another thing to keep in mind is that we have civil law and Ireland has common law so the whole basis of tax and commercial law is different.

If your intention is to built a future in Ireland then train there.

sob1467

Jim2007 wrote: »

Well I have to say that I'd be very surprised if a Swiss Big 4 would be willing to take you on as a local trainee if you were not willing or unable to do the local Swiss exams - what they can use on would be very limited. Remember a lot of the work done by a Big 4 is helping clients comply with local requirements, so if you don't know the local stuff it is a problem

Another thing to keep in mind is that we have civil law and Ireland has common law so the whole basis of tax and commercial law is different.

If your intention is to built a future in Ireland then train there.

In Switzerland you have the choice of doing the Treuhand Wirtschaftsprüfung exam (Swiss audit qualification) or the option of doing the ACCA, which are internationally transferable.

I understand that the law is a little bit different, but it may also be advantageous to bring back a proficiency in two languages in the case of Luxembourg anyway (German and French), although you are right the experience will have been gained in a different law jurisdiction, is this a big negative point?

bobmalooka

ACCA (or any of the professional bodies) being internationally transferable is a bit of a myth, you will need to sit more exams in the country you move to.

I'm fairly sure Big4 in Ireland only offer Chartered trainee contracts but will higher people qualified from the other professional bodies.

sob1467

bobmalooka wrote: »

ACCA (or any of the professional bodies) being internationally transferable is a bit of a myth, you will need to sit more exams in the country you move to.

I'm fairly sure Big4 in Ireland only offer Chartered trainee contracts but will higher people qualified from the other professional bodies.

So if I fully qualify as an ACCA accountant in say Luxembourg, I will have to do still do other exams in order to become fully qualified in Ireland?


I did not find anything about this on their website, maybe they do not advertise this.

bobmalooka

sob1467 wrote: »

So if I fully qualify as an ACCA accountant in say Luxembourg, I will have to do still do other exams in order to become fully qualified in Ireland?


I did not find anything about this on their website, maybe they do not advertise this.

I would contact ACCA to be sure but my understanding is that you would need to sit local "variants" (probably tax and company law based) although you might be able to sit the Irish variants in Luxembourg.

Jim2007

sob1467 wrote: »

In Switzerland you have the choice of doing the Treuhand Wirtschaftsprüfung exam (Swiss audit qualification) or the option of doing the ACCA, which are internationally transferable.

There is not OR option, you must be specifically certified to practice in Switzerland, if you are a trainee you study for the Swiss qualification, if you are already fully qualified when you arrive, then you need to take the conversion exams in Swiss Law, taxation, auditing and so on, as I did. I don't know where you're get the idea that all you need ACCA from.

sob1467

bobmalooka wrote: »

I would contact ACCA to be sure but my understanding is that you would need to sit local "variants" (probably tax and company law based) although you might be able to sit the Irish variants in Luxembourg.

Thanks I contacted ACCA about it. They said that it only applies if I want to obtain a practicing certificate with audit. I would have to redo P2 and P7. I assume that I would require this cert?

Jim2007 wrote: »

There is not OR option, you must be specifically certified to practice in Switzerland, if you are a trainee you study for the Swiss qualification, if you are already fully qualified when you arrive, then you need to take the conversion exams in Swiss Law, taxation, auditing and so on, as I did. I don't know where you're get the idea that all you need ACCA from.

You are correct I missread it on their website, I thought it was either or, that makes me quite likely now to choose Switzerland. Can I ask you whether you were previously a qualified accountant before you moved to Switzerland? and if not are the Wirtschaftsprufung exams really difficult for a non mother tongue German speaker.

Luxembourg is still an option. I know someone training there, who is only doing the ACCA.

Jim2007

sob1467 wrote: »

You are correct I missread it on their website, I thought it was either or, that makes me quite likely now to choose Switzerland. Can I ask you whether you were previously a qualified accountant before you moved to Switzerland? and if not are the Wirtschaftsprufung exams really difficult for a non mother tongue German speaker.

Yes I'm fully qualified (FCA) and ex-Big 4. For the exams they are a master's level, so you would need at least C1 in German to be confident that you would understand and be able to address all that is asked for. On the other hand the competency exam for foreign accountants is in English , although of course all the material is in German/French/Italian....

For completeness I should point out that I have not practiced accounting in a very long time - there are at least for me more interesting ways to earn a living.