What Does an EY Assurance Staff Do?

EY is a global professional services firm that provides assurance, tax, transaction, and advisory services to clients around the world. They are one of the largest professional services firms in the world, with over 250,000 employees in more than 150 countries.

As an Assurance Staff at EY, you will be responsible for providing assurance services to clients. This includes performing audit procedures, preparing financial statements, and providing advice on accounting and financial reporting matters. You will also be responsible for developing relationships with clients and providing them with the highest level of service.

EY Assurance Staff Job Duties

An EY Assurance Staff typically has a wide range of responsibilities, which can include:

• Assist in the planning, execution and completion of audit engagements
• Prepare financial statements and related disclosures for clients in accordance with Generally Accepted Accounting Principles (GAAP)
• Analyze client’s accounting systems and internal controls to identify potential areas of risk
• Perform detailed testing of transactions and accounts to ensure accuracy and completeness
• Develop an understanding of the client’s business operations and industry
• Identify and communicate accounting and auditing matters to managers and partners
• Assist in the preparation of reports on audit findings
• Participate in special projects as needed
• Maintain a working knowledge of current accounting standards and pronouncements
• Demonstrate strong problem solving skills and ability to think critically
• Work effectively both independently and as part of a team
• Adhere to all professional standards and firm policies

EY Assurance Staff Salary

The salary for an Assurance Staff at EY is determined by a variety of factors, including the individual’s experience, qualifications, and performance. Additionally, the location of the job and the size of the company can also influence the salary. The company may also consider the current market rate for the position and the cost of living in the area.

• Median Annual Salary: $67,317 ($32.36/hour)
• Top 10% Annual Salary: $80,250 ($38.58/hour)

EY Assurance Staff Job Requirements

To be hired as an Assurance Staff at EY, applicants must have a Bachelor’s degree in Accounting, Finance, or a related field. Additionally, applicants must have a minimum of one year of experience in public accounting, auditing, or a related field. Candidates must also have a valid CPA license or be in the process of obtaining one.

In addition to the educational and experience requirements, applicants must have strong analytical and problem-solving skills, as well as excellent communication and interpersonal skills. They must also be able to work independently and as part of a team. Knowledge of accounting software and other related technologies is also preferred.

EY Assurance Staff Skills

EY Assurance Staff employees need the following skills in order to be successful:

Financial Reporting: Financial reporting is the process of recording and presenting financial data. As an assurance staff member, you may be responsible for preparing financial reports for your company. This requires you to understand the financial data you’re working with and how to present it in a clear and concise way.

Research: Assurance specialists often research information to verify the accuracy of a client’s claims. They may research information about a client’s business, its employees and its financial records. They may also research information about the client’s industry to ensure that the client’s claims are consistent with industry standards.

Corporate Governance: Corporate governance refers to the rules and regulations that a company follows. As an assurance staff member, you may be responsible for ensuring that a company follows all of the regulations set by the government. This may include reviewing financial documents, ensuring that the company has a compliance officer and ensuring that the company follows all laws and regulations.

Financial Statements: Financial statements are a type of documentation that businesses use to track their income and expenses. As an assurance staff member, you may be responsible for reviewing financial statements and verifying their accuracy.

Communication Skills: Communication skills are essential for assurance staff, as they are often required to communicate with clients and other professionals. Effective communication skills can help you convey information clearly and answer questions accurately.

EY Assurance Staff Work Environment

EY Assurance staff work in a fast-paced, deadline-driven environment. They are expected to work long hours, often including nights and weekends, to meet tight deadlines. Assurance staff must be able to work independently and as part of a team, and must be able to handle multiple tasks simultaneously. They must also be able to work with a variety of clients, from small businesses to large corporations. Assurance staff may be required to travel to client sites, and must be able to work in a variety of settings, from the office to the client’s location. Assurance staff must be able to handle the stress of tight deadlines and the pressure of working with clients. They must also be able to work with a variety of people, from clients to colleagues, and must be able to communicate effectively.

EY Assurance Staff Trends

Here are three trends influencing how EY Assurance Staff employees work.

Audit Analytics

Audit analytics is a technology-driven approach to auditing that uses data analysis and predictive modeling to identify potential risks. It enables EY Assurance staff to quickly analyze large amounts of data, detect anomalies, and uncover patterns in financial statements.

Audit analytics helps EY Assurance staff to be more efficient and effective in their audits by providing them with the ability to review transactions faster and more accurately. This emerging trend also allows for better risk management and improved decision making. By leveraging audit analytics, EY Assurance staff can provide clients with greater assurance on the accuracy of their financial statements.

Continuous Auditing and Monitoring

Continuous auditing and monitoring is an emerging trend in the assurance industry. This technology allows EY Assurance staff to monitor a company’s financial data on an ongoing basis, rather than just at year-end. By using continuous auditing and monitoring, EY Assurance staff can detect potential issues more quickly and accurately.

Continuous auditing and monitoring also helps EY Assurance staff identify areas of risk that may not have been previously identified. This technology provides real-time insights into a company’s financial health, allowing for faster decision making and improved accuracy. As such, it is important for EY Assurance staff to understand this emerging trend in order to provide better services to their clients.

Risk-Based Audits

Risk-based audits are becoming increasingly popular in the assurance industry. This approach to auditing focuses on identifying and assessing risks that could affect an organization’s financial statements, rather than relying solely on traditional audit procedures.

Risk-based audits allow EY Assurance Staff to focus their efforts on areas of greatest risk, while also providing a more comprehensive view of the company’s operations. By utilizing this method, staff can identify potential issues before they become major problems, allowing them to provide better advice and guidance to clients. Additionally, risk-based audits help ensure compliance with regulations and standards, as well as improve overall efficiency.

Advancement Prospects

Assurance staff at EY typically start out as entry-level auditors and then move up to senior auditor, manager, and senior manager positions. As they gain experience, they may also move into more specialized roles such as financial statement specialist, internal control specialist, or IT audit specialist. With additional experience, they may also move into more senior positions such as director, partner, or chief audit executive.

Interview Questions

Here are five common EY Assurance Staff interview questions and answers.

1. Do you have any experience in the financial industry?

This question is a great way for the interviewer to learn more about your background and how it relates to this role. If you have experience in the financial industry, share what that was like and if you enjoyed it. If you don’t have any experience, you can talk about why you’re interested in working in the financial industry.

Example: “I actually worked as an accountant at my father’s accounting firm while I was in college. It was a small company, so I did everything from data entry to tax preparation. While I didn’t enjoy doing taxes all day long, I really enjoyed learning about different businesses and helping them find ways to save money.”

2. Describe your experience with accounting software like QuickBooks.

This question is an opportunity to show your knowledge of accounting software and how you use it. If the company uses a specific type of accounting software, be sure to mention that in your answer.

Example: “I have experience with several types of accounting software, including QuickBooks, FreshBooks and Xero. I find these programs helpful for managing my time and keeping track of client information. In my last role, I used QuickBooks to manage all aspects of my work, from invoicing clients to tracking expenses and reconciling accounts.”

3. Tell us about a time that you had to deal with a difficult client. How did you handle it?

This question can help the interviewer understand how you handle conflict and challenges. Use examples from your experience to show that you have the ability to remain calm under pressure, communicate effectively and solve problems.

Example: “In my previous role as an accountant, I had a client who was very demanding. They would often call me multiple times per day with questions about their financial statements or ask for updates on projects before they were due. This made it difficult to complete other work in a timely manner. To resolve this issue, I scheduled weekly meetings with the client so we could go over all of their accounts together. This helped them feel more confident in my abilities as an accountant and reduced the number of calls I received.”

4. What are your thoughts on the current state of the economy?

The interviewer may ask this question to see how you feel about the economy and whether you have a strong understanding of current events. Use your answer to show that you are aware of what’s happening in the world, but also that you can remain positive about the future.

Example: “I think it’s important to remain optimistic about the state of the economy. While there are some challenges ahead, I believe we will continue to make progress as a nation. In my last role, I helped develop strategies for clients who were concerned about their financial futures. I was able to help them understand that while there is uncertainty, they should focus on making smart decisions today so they can be prepared for whatever happens tomorrow.”

5. Can you tell us about a time that you made a mistake on a project?

This question can help interviewers learn more about your problem-solving skills and how you react to challenges. When answering this question, it can be helpful to focus on a time when you learned from the mistake and improved your work or processes.

Example: “In my first role as an assurance associate, I was working on a project that required me to analyze financial statements for accuracy. After completing the analysis, I submitted my findings to my manager, who then passed them along to our client. A few days later, my manager called me back into her office and asked why I had not included certain information in my report. I went back through all of my notes and found that I had missed one line item in the company’s expenses. I apologized to my manager and my client, and they were both understanding. From there, I made sure to double-check all of my work before submitting any reports.”