This study explores the quality of reflection, and how group diversity affects group reflection by final-year accounting and finance undergraduates using Mezirow's [(1991). "Transformative dimensions of adult learning." San Francisco, CA: Jossey-Bass] reflection model. Group work and reflective writing are now common assessment features in UK higher education. They affect students' perception of their learning experience ([Ledwith, S., & Seymour, D. (2001). "Home and away: Preparing students for multicultural management." "The International Journal of Human Resource Management," 12(8), 1292-1312]; [Chirema, K. D. (2007). "The use of reflective journals in the promotion of reflection and learning in post-registration nursing students." "Nurse Education Today," 27(3), 192-202]) and enhance the acquisition of transferable skills by students. Using content analysis and independent t-test, this study reports the prevalence of process and content reflection, but limited instances of premise reflection. Gender composition seems to matter for group outcome. Group nationality diversity and whether a group has more placement (Placement is a mode of undertaking degree programme in the UK where a student voluntarily undertakes a yearlong industry work experience as part of the programme, sandwiched between the second and final year of the degree.) students do not seem to affect the quality of group reflection for the students in the sample. The study includes policy implications for the continued use of learning groups and reflection in assessments in higher education.