Overview of Firm
PKF is the 11th largest accountancy brand and the 9th largest audit practice in the UK. We are also an active member of PKF International, a global network of legally independent accounting firms that gives us an on the ground presence in 150 countries around the world with access to more than 20,000 people across 440 offices globally.
We provide a full range of audit, accountancy, tax and advisory services, and are experts at simplifying complexity. We are particularly well-known for working with complex clients with challenging issues in fast-moving and highly technical areas, such as the insurance industry, the global capital markets and the not for profit sector. Our aim is to understand people, the organisations they run, and what matters to them, so we can simplify complexity and help them achieve their ambitions.
Introduction to Financial Services
Our leading London-based financial services practice supports clients across the industry, including wealth and asset management, private equity, insurance, consumer credit and payment services. We have been a trusted adviser to the UK insurance industry for over 150 years and have one of the largest and most experienced teams of insurance experts within the accountancy profession. Established initially as a Lloyd’s practice, our clients now span the entire insurance market – from Lloyd’s syndicates and managing agents to insurance companies, brokers and MGAs.
We have one of the largest financial service audit teams outside of the Big 4 with over 100 audit partners and staff dedicated to supporting the sector. We offer relevant and practical advice to guide and enable our clients to maintain rigorous controls, manage risks and achieve business growth.
We act for many platform-based businesses, including wealth, funds and investment management companies. Our clients include listed businesses and those backed by private equity.
Purpose and Aim of the job:
- To begin to develop a knowledge of accounting and auditing techniques and show commitment to passing the professional examinations
- To begin to develop an understanding of the Financial Services sector, including insurance, funds and fund management and the associated accounting and auditing issues
- Undertake the work allocated by the assignment leader
- Keep the assignment leader informed about progress at daily meetings
- Ensure attendance at briefing meetings and understand the audit plan
- Complete the work within the budget for each area
- Adopt high professional standards with a business-like approach to work
- Develop a comprehensive working knowledge of double entry bookkeeping
- Be able complete sections in the audit file by obtaining and documenting sufficient and appropriate audit evidence, to include the following sections:
- Fixed assets section
- Bank section
- Document accounting systems and complete systems testing
- Substantive testing on the Profit and Loss analysis – including attention to tax requirements
- Develop a basic knowledge of current accounting standards
- Develop a basic knowledge of the laws and regulations affecting FS clients including Lloyd’s/FCA regulations and client money rules
- Pass relevant professional examinations first time
- Complete the required CII study exams
- Be able to advise on basic accounting issues
- Be aware of Institute and internal ethical guidelines
- To accept responsibility for all work performed
- Minimum of a 2.2 degree, attained or expected. Please note if you have a Master’s in Accounting or Finance you will not be eligible for this position. You can apply to our Business Outsourcing or Tax role instead.
- Minimum of 112 UCAS points (2017 tariff), from three A Levels (excluding general studies), or equivalent
- GCSEs Grade 5/B in Maths and English Language
- Be commercially aware
- Computer literate
- Team player
- Good communication skills
- Strong organisational skills
- Able to work on own initiative
- Good attention to detail
- Ability to prioritise workload
- Work to deadlines
- Ability to spot new business
- Problem solver