Apprenticeship glossary

Audit

What does Audit mean?

Checking that an organisation's financial accounts are accurate. Audit apprenticeships at firms like KPMG and Deloitte usually lead to a chartered accountancy qualification.

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Industry Finance and professional services apprenticeships Audit, tax, consulting and accounting: the firms that help organisations manage their money, follow the rules and make decisions.
ACA
The chartered accountancy qualification from the ICAEW. Several accountancy apprenticeships lead to it, like KPMG's five-year audit apprenticeship and Deloitte's 48-month Level 7 routes.
Consulting
Advising organisations on how to solve problems or improve the way they work. KPMG, Deloitte and EY all have consulting apprenticeships.
ICAEW
The Institute of Chartered Accountants in England and Wales, the professional body that awards the ACA qualification.
AAT
The Association of Accounting Technicians qualification, a common first step in accountancy apprenticeships. KPMG, for example, has audit apprentices study AAT Level 3 and 4 in their first two years.
Apprentice
Someone doing an apprenticeship: an employee who is paid to work and train towards a recognised qualification at the same time.
Apprenticeship
A real, paid job where you also train towards a recognised qualification. In England at least 20% of your normal working hours are spent training, and you don't pay tuition fees.

Definitions are our own plain-English summaries. Where we give figures, they come from the official sources listed on the linked guide or profile. Rules can change, so check the official source before you make decisions.