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Assurance
Senior Associate
Assurance looks at a business from the inside out, ensuring financial information is accurate and is reported in the correct way – a great introduction into how businesses operate.
In This Article
Role Overview
Organisation Type
Large Corporate
Role Type
Graduate
Starting Salary
£23,000
(additional 20% if based in London, Milton Keynes or Reading)
Av. Weekly Hours
40
Organisation Type
Large Corporate
Role Type
Graduate
Starting Salary
£23,000
(additional 20% if based in London, Milton Keynes or Reading)
Av. Weekly Hours
40
About the Author
Role Requirements
Time in Role:
3 years through the graduate scheme
Degree:
Loughborough University, Sport & Exercise Science, 2:1
A-Levels:
PE (A*), Psychology (A), Biology (B)
- Attention to detail
- Willingness to work away from home
- Inquisitive
- Ability to manage heavy workloads
- Willingness to continue your education
About the Author
Time in Role:
3 years through the Graduate Scheme
Degree:
Loughborough University, Sport & Exercise Science, 2:1
A-Levels:
PE (A*), Psychology (A), Biology (B)
Role Requirements
- Attention to detail
- Work away from home
- Inquisitive
- Communication
- People management
- Time management
- Manage heavy workloads
- Continue your education
Key Responsibilities
This will vary as you progress. In the first year you will focus on understanding the less complex areas of a company’s financial statements, whereby you will have to investigate the information provided and construct ‘tests’ to validate that the information is accurate. As you progress, you will be in charge of more complex areas whilst also managing a team and your client, ensuring they deliver information in line with project timelines.
A Day in the Life
Year 1:
Your first month will be spent training and completing your first few exams, with time in college and home study. Following this, you will be slowly eased into client work, taking on the responsibility of less complex financial statement areas where you will be tasked with understanding the financial data and how this relates to the company, and then ensuring it is accurate by tracing the data through to support. You’ll be required to talk to your clients and investigate further where something doesn’t make sense. You can expect to sit your first 6 exams in this period.
Year 2:
Now you have a better understanding of the role you will assist with more complex financial statement areas where your judgement is required. This will involve using what you’ve learnt at college to help guide your work. You will also be required to supervise those in their first year and help them to understand their work. You’ll likely sit another 6 exams in this year.
Year 3:
Dependent upon your performance, you may now be acting as the ‘in-charge’, requiring you to manage your team as well as manage the client and ensure all parties are on track to reach the project deadlines. You will also be in charge of complex areas on the financial statements which require a lot of judgement and could be manipulated to inflate profit or reduce costs – which would mean the company’s financial statements are presenting the performance better than what it actually is. You will also complete your final 3 exams in this year.
Additional Details
Can you work from home?
Pre-COVID – if you can demonstrate your ability to work independently, there was flexibility to be able to work from home (when work was office-based). If you are required to be out on client site, then you’d expect to be there the majority of the week, or as required, with home or office work 1/2 days a week.
How is work assigned to you?
As a junior you’d be assigned work from those more senior than yourself, unless you have a specific interest to complete a section of the work where they will then more than likely facilitate this for you. In terms of clients you’d like to work with, if you have an interest in a certain sector then shout, and this should be recognised.
Time management
You are in charge of your own time as long as you are able to keep to project deadlines – once you have your workload, you can manage this as you wish.
Are there any professional exams to complete?
You will be required to complete the ACA (Accountancy qualification) – there may be repercussions (dependent on the firm) if you fail these, and your salary moves up in line with the completion of these exams.
Career Progression
Providing your performance is as expected and exams are completed, you will be promoted every year throughout the graduate scheme with a pay rise each time. Once you have completed all your exams, you can expect a pay rise of c£15k+. Once you are ‘qualified’, you can continue and progress to Manager, move departments, move into industry, or move into another role completely – the ACA provides you with a comprehensive understanding of business and so is highly transferable.
Author's Opinion
- The exposure to businesses and senior level employees of those businesses provides a great foundation for your career.
- Studying towards the ACA with a good support structure in place (study leave etc.) provides the opportunity to obtain a strong understanding of business / finance and will provide you with excellent transferable skills.
- The type of work is mundane at the junior level but after a year or so becomes more interesting, and it really is as interesting as you make it once you are able to manage your own jobs.
Final Thoughts
The profession plays an integral role to the financial system, ensuring the data that – investors, suppliers, analysts etc.- rely on, is accurate. Working for a Big 4 company is like uni again in your first few years as you spend a large amount of time studying and working with like-minded people. Overall, the training you receive is invaluable and sets you up for the rest of your career – whichever way you want to take it.
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