Audit Industrial Placement (Financial Services - Insurance) - September 2023
Overview of the Audit service line
In Audit, you will join a growing team of around 1200 relationship driven, curious, problem solvers who add value to their clients daily. Our teams provide audit and assurance services which are vital to our clients' business control and credibility. Our expertise ranges from servicing private, entrepreneurial companies through to UK and internationally listed companies and groups, financial services, public sector bodies and some of the largest global organizations in the world. By joining a unique integrated structure, you will benefit from working in collaborative teams and be given responsibility for delivering robust and independent audit and assurance services in a supportive environment. Quality is at the centre of Mazars in terms of both our people and the service we provide our clients. We offer a distinctive, human-centric approach that goes beyond compliance, with an integrated structure that allows us to work seamlessly as one team.
We hold the fundamental belief that audit forms the foundations of a fair and prosperous world, we care about our industry and have long pressed for a debate on competition in the audit market. We believe that businesses and societies around the world deserve the benefits that increased resilience in the audit market can bring and are committed to playing an active role in shaping its future.
An introduction to our Financial Services Insurance team
The financial services team works internationally to provide seamless, cross-border services to our clients. As a member of the team you will experience a broad range of clients across various sectors to build your knowledge and understanding of the financial services market.
The UK insurance market is the largest in Europe, the fourth largest in the world and includes the prestigious Lloyd's market, the oldest active insurance market in the world. It faces a number ongoing challenges such as COVID, the invasion of Ukraine, climate change, digitalisation, cyber security and rising inflation.
Our insurance audit team provides clients with the specialist expertise required to provide high quality, technically complex, statutory and regulatory audit and assurance services.
Our clients are both national and global insurance entities based in the UK including a number of flagship clients that are amongst the largest players in the UK market. They include general and life insurance companies and mutuals as well as a number of Lloyd's market entities including Lloyd's syndicates, managing agents, members agents and corporate members along with London market and regional insurance intermediaries.
The role of an auditor is to ensure financial statements produced by clients are ‘true and fair' and an accurate representation of the transactions and balances they claim to represent. In the financial services team, you can expect to be part of highly engaged teams, working together to deliver high quality audits in line with client expectations and deadlines.
We are now operating a hybrid working model, so as a trainee you will split your time between working from home, visiting the office, client sites when required or studying for your professional exams.
We are looking for candidates with a strong desire to learn and progress, and we give increasing responsibility when an individual is ready rather than at pre-determined times. However, our broad expectation of roles and responsibilities during the three-year training contract is set out below.
During your placement year you will:
- Work with various clients, building a strong understanding of their business;
- Learn how to prepare professional audit documents in line with our audit methodology using audit software and systems;
- Develop a thorough understanding of financial statements; and
- Be able to obtain relevant information from clients whilst building effective rapport with clients.
If you are offered a permanent role to return at the end of your placement, you will re-join as a second year after completing your degree. The rest of your training is outlined below.
During your second year you will:
- Build and develop audit skills in increasingly complex and technical areas;
- Be able to take ownership for sections allocated to you in an audit file;
- Self-review your own work, ensuring minimal review points are raised by managers; and
- Be able to help less experienced team members.
In your final year you will be expected to take on significantly more responsibility. Depending on the client, this may involve taking the lead on a technical area or a team and ensuring the entire audit file is completed. This will include a combination of working to stated deadlines, managing the work of junior members, taking responsibility for the budget, and presenting in both team and client meetings.
- Strong work ethic; the desire to get things done, and to learn and progress.
- Interpersonal skills; the ability to build client relationships with a foundation of trust and responsibility.
- Analytical skills; the ability to accurately and diligently assimilate information, grasp concepts quickly, research and solve problems.
- Independent; the ability to think critically, challenge when appropriate, and to apply professional scepticism.
- Attention to detail and strong time-management skills.
- Credible and effective communication skills (written and verbal).
- Affinity with our values; in particular, respect for individuals, diversity and integrity.
Strong academic performance is important; however, we understand that things don't always go to plan. Our recruitment process looks at your whole self – academic achievements as well as other experiences in which you have grown and developed. We balance your academic results alongside the aptitude assessment within our recruitment process to ensure that you will be successful in your role with us.
We will fund your study towards the ACA qualification.
You will receive a full study package to ensure that you successfully complete your professional qualification. This includes time off to study, attend college and complete online courses. Your professional qualification is only part of the story at Mazars; we support all our trainees with a blended approach to training and development including classroom study, 1:1 coaching, and soft skills training.
You will be supported by an appraising manager to keep your career and aspirations on track. You will also be allocated a buddy, who will support you to settle into the team and navigate your first year at Mazars.
- Annual Leave +
- Charitable Giving
- Dental Insurance
- Wellbeing Benefits
- Virtual GP
- Cycle to Work
- Gym Discounts
- Life Assurance
- Flexible Benefits +
If you are interested in a career in professional services, we can offer you an exciting head start by joining one of our trainee schemes for school or college leavers.
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