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Between 2006 and 2009, 0.3% of employed doctoral graduates or 45 doctoral graduates in total are known to have been working as chartered accountants six months after graduation.

Job description

Chartered accountants are classified in the ‘other common doctoral occupations' cluster of doctoral employment.

Chartered accountants provide information about financial records. This might involve them in financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes. Generally, they play a strategic role by providing professional advice, aiming to maximise profitability on behalf of their client or employer. They work in many different settings including public-practice firms, industry and commerce, as well as in the not-for-profit and public sectors.

In public-practice firms, chartered accountants provide professional services to fee-paying clients who might be private individuals or large commercial or public-sector organisations. In commerce, industry and the not-for-profit and public sectors, they may work in treasury management, procurement, financial management or in reporting roles.

Typical work activities

The role of a chartered accountant can cover many aspects of finance work, including:

  • Continuous management of financial systems and budgets
  • Undertaking financial audits (an independent check of an organisation's financial position). Liaising with internal and external auditors.
  • Providing financial advice
  • Liaising with clients (individuals or businesses) and providing financial information and advice
  • Reviewing the company's systems and analysing risk
  • Performing tests to check financial information and systems
  • Advising clients on tax planning (within current legislation to enable them to minimise their tax liability) and tax issues associated with activities such as business acquisitions and mergers
  • Advising clients on areas of business improvement, or dealing with insolvency
  • Preparing financial management reports and statements, including financial planning and forecasting
  • Managing junior colleagues

Entry requirements

Entry is open to graduates of all first degree and doctoral disciplines. There are three separate professional institutes of chartered accountants in the UK (as well as a number of other bodies awarding other accountancy qualifications). These are:

In addition to qualifications, candidates will need to show evidence of the following:

  • General business interest and awareness
  • Self-motivation and commitment, in order to combine working with studying
  • Communication and interpersonal skills
  • Organisational and time management skills
  • A methodical approach
  • It proficiency
  • Strong analytical and problem-solving skills
  • Numeracy
  • Leadership qualities and effective teamworking skills
  • Motivation and initiative
  • Integrity and trustworthiness

Salary

  • Starting salaries vary considerably, depending on the location and size of the firm and the sector. Salaries for trainees range from between £18,000 to £25,000, although they could be higher in London or lower in small regional firms. (salary data collected September 2009)
  • The median salary two years after qualification is £42,000 while the median for all chartered accountants is £70,000. (salary data collected September 2009)
  • Salaries tend to be higher in London and the South East.

Sector and disciplinary information

Doctoral graduates from 2006-9 working in this occupation were known to be employed in the following profiled sectors six months after graduation:

Disciplinary background

The most common disciplinary backgrounds for doctoral graduates (2006-2009) entering chartered accountancy were:

Career stories

Chris
Auditor, National Audit Office

"Since I joined the National Audit Office in 2005, I've worked on a range of studies, most of them in the area of defence so looking at how the ministry of defence spends tax payers' money. But it's normal in the National Audit Office to circulate and I am about to move now to another area."

Other relevant career profiles:

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