Professional Documents
Culture Documents
Interview Prep: To Do: Look at Application Form. Research Organisation and Role
Interview Prep: To Do: Look at Application Form. Research Organisation and Role
To do:
Competency areas:
1. Communication
2. Achievement of goals
3. Commercial awareness AND career motivation
4. Problem solving
5. Planning and organisational skills
6. Adaptability
1
QUESTIONS
1. Communication
2. Achievement of goals
What goals have you had in the past and how did you achieve them?
Why Deloitte?
Growth over the past few years (e.g. buying Arthur Anderson’s European practices in 2002);
2nd largest professional services firm in UK, largest in the world ($26.6bn in 2010).
Friends there, people, culture.
Audits FTSE 100 compaies.
In-house training and ACA.
Secondment to other business areas/ geographical locations within Deloitte.
Platinum rating in corporate responsibility index.
Deloitte has been ranked second in renewables advisory for wind and biofuels, and first for
solar power in Energy Risk magazine’s second annual Environmental Rankings published in
December 2009.
2
What are the major current issues facing Deloitte?
Changes to regulation in the finance industry; too big (arguments from Grant Thornton and
BDO); fees need to drop because clients are struggling financially and this will put pressure
on Deloitte’s revenue – and the company must maintain high standards.
Change in leadership (John Connolly to David Sproul in June 2011)
Balancing the huge amount of mobility the company has amongst its employees with their
security and the security of the data that they’re responsible for.
Using the ‘cloud’ to enhance efficiency. Data will be available from anywhere on a wide
range of devices.
Reflects the major issues of clients: Today our clients’ key challenges are: Financial reporting
and delivering shareholder value; Governance, security and risk, regulation and compliance;
Globalisation; Demographic challenge and the talent agenda; Industry consolidation and
Performance optimisation through alternative business models. We recognise the need to
innovate constantly to respond to rapidly changing issues. Our deep industry skills combine
with service line specialists to meet our clients’ needs.
Deloitte has approximately 170,000 staff at work in more than 150 countries, delivering
audit, tax, consulting, enterprise risk and financial advisory services through its member
firms.
Mission: To help our clients and our people excel.
People, in-house training, the appraisal and mentoring system (buddy, mentor, appraiser,
line manager, tutors at Caplan and online library resources.
3
Growth (DJD takeover – surveyors). Now a market leader in real estate.
(From website) Deloitte professionals in member firms around the world understand the
challenges and opportunities related to climate change and sustainability. Among the
features that distinguish Deloitte member firms are:
A great breadth and depth of competencies in Audit, Risk Management, Consulting, Tax, and
Financial Advisory services
Reach that is truly global, with member firms in 140 countries and practitioners who understand
local regulations and business practices
Why audit?
4
Good place for me to start, always a need for audit (not for other service areas).
UK GAAP (government accepted accounting principles) and IFRS (international financial
recording standards). IFRS means I can practise anywhere in the world.
Reduced fees from struggling clients, competition from other auditors, public misconception
that audit is responsible for finding fraud giving some the impression that auditors are in
part responsible for the recession/ failure of banks, especially with public’s current focus on
the financial sector.
15 exams (6 are e-learning/ self-study with multiple choice exams – need 55%; 6 more build
on earlier exams; 2 general exams and 1 case study).
Difficult but worthwhile.
IFRS & UK GAAP
4. Problem solving
An example of when you had conflict with people. How did you resolve it?
TF: pupils constantly have many problems: unable to concentrate for long periods of time so
it is necessary to regulalrly change activities and work on attention span gradually.
5
Conflicts about insulting one another e.g. who’s pen is it. Resolve conflict through dialogue
and talk to find a resolution both sides can live with.
Whilst leading tour, Rami wanted to be more strict.
Teaching evolution to religious pupils.
List what needs to be done and deadlines of each task (prioritise). Allocate time and work
through the list of tasks.
TF: teaching, planning + essays.
Uni: essays and extra-curricular activities/
6. Adaptability
6
QUESTIONS TO ASK
Also:
Sarbanes-Oxley Act (2002) – Defines which records are to be stored and for how long. All business
records, including electronic records and electronic messages must be saved for at least five years.
Materiality – something shareholders will care about e.g. a large expense that is not accounted for.
A going concern – a business that functions without the threat of liquidation for the foreseeable
future, usually regarded as at least within 12 months.