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The changing role of accounting

In the accounting world, four companies (the ÔÇÿBig 4') reign as leaders in employment and revenue. Ernst & Young, PricewaterhouseCoopers, Deloitte, and KPMG make up this assemblage and annually receive a large number of applications from new graduates.

But what can today's fresh-faced, young graduates really expect as employees in these jumbo firms?

Tony Nikolovski, a senior associate with the Audit and Assurance Group at PricewaterhouseCoopers, graduated from York University in 2010. He found the initial student-to-employee transition a learning curve both in scheduling flexibility and increased responsibilities.

Once you enter the real world, there are clear working hours and client commitments that at times can interfere with the flexibility you once had as a student, he says, adding you must take ownership of your schedule, plan accordingly, and take responsibility for poor planning or execution and mismanagement of your time.

An associate with the Audit and Assurance Group at PwC, Carolyn Harriss first joined the company as a co-op student.

Both school and work are challenging in different ways, but taking a co-op placement at PwC really gave me a chance to learn on the job and get practical experience, she says.

Accounting graduate Ryan Glynn initially worked at Ernst & Young after finishing school. While he found the transition daunting, it was eased by the company conducting an in-depth orientation week in which they explained our roles and what we should expect, as well as organizing graduate activities and team-building exercises.

Work and study

As most accounting graduates go on to pursue their professional accounting designation, engaging in double duty with work and study presents another hurdle to overcome. Fortunately, most large firms offer recent graduates ample support to successfully complete their designations.

The firms have an invested interest in the successful completion of the examination by their staff and, as a result, give you the appropriate training and time to study for such a challenging examination which is, in fact, one of the most demanding in the world, Nikolovski explains.

Glynn adds that while it was difficult balancing both work and study, especially during the busy tax season, Ernst & Young was especially supportive by organizing sessions whereby an experienced accountant would go through the material and explain important concepts.

Big or small?

While work experience in both big and small firms is valuable, they also carry strengths and weaknesses, as does any position.

Glynn says that smaller firms may not be able to offer as much support with designation pursuits, and that the peer pool and resulting peer support system could also be limited.

 The PwC network of firms has offices all over the world, which gives me access to a global network I would not have at a smaller firm, adds Harriss. She explains that the ÔÇÿBig 4' companies also offer a variety of professional services, providing many internal positions outside of audit and tax.

At smaller companies, recent graduates are more likely to take on roles of greater responsibility earlier in their careers, says Glynn. He adds that working closer with individuals, [co-workers] can provide a better mentoring role as they have more time to spend with each individual.

Bright future

All ÔÇÿBig 4' firms offer opportunities for accounting graduates to learn, grow, and create solid career foundations. This in-depth experience also has the potential to give them a leg up on other graduates who may still be finishing their designations or simply not have the same level of work exposure. 

Nikolovski shares that a very important person and role model in my life once said to me: ÔÇÿThe decisions you make today will have a dramatic impact on the life you have tomorrow.'

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