I was in the Business Risk and Controls Commercial and Governance business unit within PwC UK's Risk line of service. My role involved understanding the risks facing clients and the controls they already had in place. Subsequently, we tested these controls and made recommendations on how the design of these controls could be improved and what additional controls the client would need to implement in order to mitigate potential risks. I was also involved in ensuring companies looking to get floated on the US stock exchange had the correct controls in place to meet the requirements of the Sarbanes Oxley Act.
On a day to day basis, I worked for various auditing engagement teams for multi-million pound external clients. I was involved in completing various EGAs. I also participated in a project, where I was developing a business and marketing strategy for a social enterprise. Throughout my day, I also had training courses to complete.
My role was to get involved with the team, and receive some coaching, to learn some of the everyday activities on an audit. I was then able to complete client work, whilst being able to obtain regular, quality advice from more senior members on the team. This mainly involved evidence gathering activities of the client, in order to ensure that the appropriate level of proof is there in order to conduct an audit which meets the legislative requirements. This is conducted to verify that the company's financial statements reflect the actual financial position of the company for stakeholders.
Overall the internship was split over three weeks and all online. The first week consisted of company based training for the first three days and audit specific training. This consisted of the principles of accounting and getting familiar with the technology PwC uses for Audits. The second week was all client work. This included helping senior associates and managers with small tasks which contributed to the audit. On top of all of this we were tasked in the first week with a dragons den style project which was presented to a panel of judges in the last week.
My internship was a short 3-weeks due to COVID restrictions. It took place entirely online. PwC worked to seamlessly transition us into a virtual working experience. I was given the opportunity to work on Internal Audits for clients, my day-to-day involved shadowing, minuting and drafting ToR's for clients.