Summer Intern - UKI Assurance - Audit Review

I enjoyed my internship at EY primarily due to the excellent support networks and graduate environment. I had support from my fellow interns, my assigned buddy, my counsellor and also the teams on the projects to which I was assigned. Having studied a degree completely unrelated to accounting (Comparative Literature), I was surprised by how quickly I picked things up and how I was capable of doing the tasks I was set. Some tasks were challenging and I have constantly asked questions, but it has been a hugely satisfying working experience. The only frustrating times have occurred when projects have been cancelled and I have had some very quiet days, but this has been contrasted with some very busy ones.

I have felt that the work I have done at EY has been genuinely helpful to the people I am working with, and I feel that they value me as a team member. Having someone to do the smaller, more time-consuming tasks is a great relief when deadlines are fast approaching. I definitely felt appreciated when I would ask for more work and it turned out that I had completed everything that was lined up for the day.

My colleagues whom I shadowed were incredibly supportive as many of them have completed internships themselves and remember being a first year with zero experience. I have felt able to ask as many questions as I want – nothing is every too much ,and no question is stupid. Many people took the time to coach me through individual tasks which meant that I became more independent as my internship progressed. I have found management to be very friendly too! My ‘Counsellor’ sorted out any resourcing problems I had and regularly sat down with me to discuss my progress and final report.

How busy I was varied greatly from day to day. Some days I was wondering whether I’d be allowed to leave on time at 5.30pm and on other days I was virtually unassigned due to resourcing issues where a project team decided that they were too quiet for an intern, and cancelled my plans for the week. But generally, whenever I had finished a task and asked for more work to do, another task was usually found. But I know this experience varies from intern to intern.

During my internship I was given varying degrees of responsibility by different people. By some I was given complex tasks which I felt were fairly significant, but by others I was only given things to read or change the dates on. It was more dependent on what stage the project was at as to what tasks were available. But whatever tasks you do, staff up until management level have their work reviewed before it is submitted to the client, so no matter how much responsibility you are given, there is always a safety net.

The accounting skills I have gained from EY will have no impact whatsoever on my Comparative Literature degree. However, as a university sports club treasurer, these skills are relevant. Also, should I decide to pursue a career in finance, this internship will be invaluable. I have learnt a huge amount in my six weeks which would be a great foundation for a trainee Chartered Accountant.

There was a good working atmosphere in my EY Reading office. It is smaller than London, and consequently it is much easier to network and interact with colleagues. I felt comfortable in the office and recognised more and more faces, having worked on a number of different projects during my time. I really enjoyed the large graduate population – there is a very young atmosphere which makes it easier to see yourself working there in the future. Generally everyone has their heads down and gets on with their work, but everyone is friends and some general chat breaks out, which is enjoyable.

The internship was relatively well organised overall. The induction day featured around 170 interns – our roles were explained to us and all equipment such as a laptop each was distributed. Our timetables were set up weeks before we started our program and all admin was emailed prior to joining. However, once on the internship, one of my projects for the week was cancelled and I struggled to find work. My Partner shadowing day was also cancelled, although this was a client issue, not EY’s fault. I think I was personally unlucky, but I did experience some frustrating moments.

EY has invested hugely in their interns, providing us each with a laptop, a counsellor and a buddy. All teams were expected to coach the intern they were assigned, which takes time away from the tasks they have to do. The Chartered Accountant qualification that one undertakes in their first year at the firm was explained to all interns – the three year course is entirely funded by EY, which is an excellent investment in individual’s education.

Future employment with EY is a very appealing prospect. The salary, promotional opportunities, CA qualification and client exposure is a combination unlike any offered by other non-big four firms. The downside is the constant studying for exams – this is added pressure on top of the daily job. But at the end of three years, once qualified, you are a very employable candidate for other financial roles. The long hours are somewhat off putting, but they are off-set by the competitive salary.

I organised a lunch and also a last day of the internship dinner with my fellow interns. Otherwise, there were no events set up specifically for the interns. I have heard that a lot of the grads go for drinks after work, but on the whole, it seems that the general consensus is that people like to get home after work, which is understandable. There are office events throughout the year, such as participating in Tough Mudder challenges, but there were none running during my internship.

During my internship, I had a 45minute commute which cost £10 a day when heading to my base office. If attending a client site which was out of my way, I could claim expenses, so not every week cost the same. I lived in my university house, so I am not too informed about the cost of living in Reading, but colleagues have mentioned that it is very expensive. (e.g 8-bed house share, 5 min walk from office, £700pcm!) As for socialising, there are a lot of chain restaurants in Reading, so you can eat out for a reasonable price.

Reading has a great selection of bars and restaurants that would be ideal for team socials. As previously mentioned, I did not get to experience the Nightlife in Reading, aside from dinner with the interns, but there is a good selection of places to choose from. The areas is popular with the grads and is pretty lively and interesting, with great transport links.

Aside from making my own plans, there were few opportunities for activities outside of work. I enquired about the EY netball team, but this only seems to be a London-office thing. One colleague had leaving drinks, but apart from this there were no real team or office organised events, which was odd considering that it was summer and intern season! However, I have hear that interns based in London had a lot more exposure to social activities, so I assume that experiences are largely location-dependent.