Internship in Assurance/Audit at PwC or Ernst and Young?

Hi guys,

I'm going to study for my Masters at a leading UK business school starting in September, and I will be applying for IBD roles also starting in September. Due to some confusion about my future plans, and falling through of some arrangements, I was unable to get an IB internship this summer, before starting the Masters course.

I managed to get through the first few stages of the applications for Internships in Assurance at PwC and Audit at Ernst and Young, since their closing deadlines are very late (actually still open). I was just wondering how helpful these would actually be when it comes to spinning my experience into my story about how I want to get into IB? I was thinking that since they are very much Finance related, and I will be working with and manipulating a lot of quantitative data, I might be able to relate those skills to the modelling/excel/powerpoint malarky that a first year IB analyst does.

My question really is, considering I haven't got the chance to do an IB internship, is this the next best thing?

Thanks a lot