Audit & Accounts Trainee

This is an entry-level position that combines starting the ACA qualification with hands-on experience in auditing and accounting. Trainees will assist in the preparation of financial statements, perform largely profit and loss audit testing and will help to ensure compliance with the relevant accounting standards and regulations. Trainees work under the supervision of senior auditors and accountants, developing key skills such as financial analysis, report preparation, and client communication.

Specific Duties:

Research industry using IBISWorld to gain a full understanding of the client's environment.

Review permanent file for any information which may impact on the assignment.

Roll forward prior year working papers and lead schedules in Pro Audit accordingly.

Prepare draft Letter of Engagement for senior review.

Prepare draft Assignment Terms Letter for senior review.

Assist the Senior with preparation/update of detailed systems notes with reference to personnel, key responsibilities and authorisation procedures.

Perform tests of internal controls and assess whether controls are sufficiently implemented and effective.

Prepare coded trial balance, allocating client nominal ledgers to appropriate codes in AP and reviewing against prior year for consistency.

Review draft financial statements for casting, reference, comparative and grammatical errors.

Perform detailed transactions tests for various sections of the audit file.

Demonstrate a clear understanding of how audit procedures address specific financial statements assertions.

Review client prepared reconciliations, agreeing ledger balances, and reconciling items to other documentary evidence.

Perform recalculation checks, ensuring client workings behind ledger postings are accurate.

Perform proof in total tests, comparing client ledger postings to expectations formed from results.

Review nominal ledger activity reports for reasonableness and confirm postings are in line with our expectations and client explanations.

Make use of third-party sources (E.g. Companies House, Google, Bank of England, HMRC etc.) to aid with audit procedures.

Ensure awareness of audit methodologies i.e. on how to derive sample sizes, test of details, etc.

Present problems encountered to senior on a timely and efficient manner.

Present and discuss ideas for resolving any problems encountered with audit senior.

Update audit senior with detailed progress reports by email.

Prepare supervisor review, self-assessing performance.

Review final financial statements for casting, reference, comparative and grammatical errors and agree figures to audit working papers.

Prepare covering letters and other general client correspondence.

Prepare a summary of outstanding information for areas of work which remain incomplete due to client delays (where relevant).

Essential specifications for the role:

Communication skills

Attention to detail

Ability to manage time efficiently to balance work and studying for a Level 7 qualification

Ability to work as a team and individually

You will need a minimum of 5 GCSEs (grade 9-4) including at least a level 7 in Mathematics and 5 in English, 128 UCAS Tariff points (A,A,B) or equivalent plus an expectation of at least a 2.1 degree classification in any discipline, with consistently strong module results throughout your degree. (The UCAS Tariff points are achieved from your top three A-levels or equivalent, excluding General Studies, EPQ and Critical Thinking, completed in the same academic year.)

If you have a 2:2 degree classification, we can consider your application if you have A,A,A at A-level.

Non-essential but desirable specifications include:

Ability to multitask and complete assignments within time constraints and deadlines

Knowledge of professional/technical standards, software and agreed auditing practices

Problem-solving abilities