Deloitte graduate Audit offer 2014- ask away for help

Original Post

19 July 2013 - 12:04pm

Throughout my application process, I found the forums on wiki jobs immensely helpful. Now that I have received an offer for the audit intake 2014- I'd like to share my experience and help anyone whose applying as well. Feel free to ask anything and I'll try my best to answer them to the best of my memory. Good luck with your applications:)

Recent Comments

26 July 2014 - 12:54pm

Guys in order not to ask me I forgot to mention that all names used in my previous post are fictional and questions like Why Nottingham does not mean that I will be in the office. I am saying that to avoid questions why that office etc.

26 July 2014 - 12:51pm

Hi there I also got an offer so let me give you a bit more about the process as well. In general read Wiki Job and the comments here + contact someone from the company to tell you more about the process. Be proactive!

The application - I advice everyone to attend one of Deloitte career events and ask for help and also your University career destination centre.

The numerical test I heard that this year it might be changing but for 2014 I used assessment day and their tests and tips were useful.

E-Tray:
You know that the e-tray is in two parts.
First part:

My first suggestion is if you have not done it so far to practice the sample e-tray on Deloitte website. In that way you will gain some brief idea of how time pressuring the e-tray is.
1st tip Open all the files one by one and minimise them.You have 3 folders as far as I remember the 1st one was some Corporate information about (GDT Group - the company you are senior project analyst/advisor in it and your main priority will be to advise the client - Trafford lea regarding their growth strategy. Your boss is George Barton. They have had very modest growth over the last couple of years and now they want to expand (either Regional expansion or throughout product diversification or acquisitions). The date was Monday 9.00 a.m 09.September. Second folder about TLB business & organization and finally the 3rd one about situations facing the business - competitors
2nd Tip: be consistent. For example there are a lot of e-mail interrelated and if you have said that we must spend an additional XXX amount of money after that remember what you have said and confirm it.
3rd Tip: Be careful who is sending you the e-mail is it your boss or the client. Because some of the information you will see on the top of the documents is confidential and you must not disclose it! (something that I forgot is that Trafford Lea are selling stationary & books)
4rd Tip: Do not place random answers, be concentrated & there are some documents/attachments in the e-mail that are not going to be useful so ignore them
5th Tip: Some questions that I remember:
-There was one that you had to divide 1,500 hours/ number of hours required by employee something like that
-Question to decide which workers are available. There are two files one with checklist of skills and one with availability just open both of them and check who is free and who is not.
-How many days it will take to do a marketing report+financial analysis ( which I believe that I answered 10 days) after that you will have a second questions which states that there are 3 days preparation in addition so it was 13 days (excluding weekends) so be careful with the calendar as well !
-You have two questions to refer a person of contact in one of the cases was from GDT (your company) in the second it was from the client (Trafford Lea). What you have to do is to go see the chart and refer to that person. For example: John Smith (Operational Manager) for operational purposes
-There was a question in which region you must expand in - use your judgment and be consistent !
-One question is asking to recommend a formula - staffing arrangement formula again be consistent and relate it to other files.
- There was a question which distributor to choose ( i think one of them was Chinook)
- One question for miscalculation against the estimated cost and actual cost.(Table of analysts + rates are relevant) Compare e-mail attachment with the document
- One question - how many branches can TLB open = Budget/cost of opening a branch
- One question how many staff will be required in each branch ( I believe I answered 4 people per branch (24 people in total)
-Check also dates and hours on the e-mails !
-Hatton books are their competitors
- You will have 28 e-mails - 7 of them are with attachments (minimise the attachments as well you might use them later), 7 e-mails with no need to reply and 14 e-mails without attachments. Don't worry some of the e-mails are easy to read and easy to reply.
-You must confirm a date of when the project will finish so use the calendar again
-There was one question that you must say that you are going to do the task by yourself and after that in a second e-mail they will question you but confirm that you still want to do the task.
In general the questions are: - do it yourself, come back to this later, delegate tasks.

For the 2nd, Written e-tray:
You can used the following structure. It is 40 mins only so work fast! You have three options the name of the companies are always different but just recognise pros and cons and put them in the order that is below and you will be fine with it.

Dear XYZ,

Thank you for your recent e-mail. I am delighted to provide you with the information that you have requested.

You will all necessary information below for the meeting with Trafford Lea (TL) Board of Directors summarized below. I have assessed the investment attractiveness of XXXXX, YYYY, and ZZZZZ for a potential acquisition based on the quantitative and qualitative information provided in the e-mail.

Option 1: XXXXX

A). Strengths:
In the first place, Option 1 main advantage is that…….
Furthermore, another advantage is…..
B). Weaknesses:
On the other hand, the main drawback is……
In addition another argument that can bring negative effect is……

Option 2: YYYYY
A.) Strengths:
One point of view in favour of Option 2 is…….
It can be assessed that an additional strengths of YYYYY is…….
B.) Weaknesses:
Although there Option 2 can be recognized as a good takeover company the main drawback is……
An additional disadvantage is the fact that……..

Option 3: ZZZZZ
A.) Strengths:
The first main advantage of Option 3 is……..
It can be evaluated that the second main point in favour of the company is…….
Thirdly it is…..
Finally,……..
B.) Weaknesses:
However it can be argued that the company will experience problems from…… On the other hand if the TL………(do that)….. they will mange to overcome the drawback.

Recommendation:
The three options evaluated above suggest that the most suitable option is……… due to the fact that it will bring more advantages than disadvantages to TL.
Arguably, if TL acquires XXYYZZZ it will give them the opportunity to……….
In addition there are less threats and more opportunities related to the acquisition….. For instance……

Regards,
YOUR NAME
Senior analyst
GDT Group
Mobile: +44 (0) XXX XX XXXXX

1st Interview

It is competency. I have prepared over those type of questions below by using STAR approach for every one of it. The most important thing about STAR is the A-the actions that you did in particular task for example working with clients you have researched, analysed, helped, supported etc.
Career motivation is extremely important if you are going to Audit research ICAEW ACA website and know more about the exams - 3 stages (15 exams) etc.

Communication

1. Tell me a situation when you had to give a presentation
?
2. Time you had to work in a team?
• Have your teammates appreciated your work, how would you measure their appreciation?

Planning and Organising


1. Time when you had to plan for something? 

2. Time you had to organise something?
3. Time when you had to multitask?
4. Time when you had to change your plans?

Problem Solving

1. When you had to make a decision?
2. When you had to solve a problem?
3. Time when you had to work under pressure?
4. Time when you had a conflict with someone?

Achievement of Goals
1. When have you achieved a goal?
2. Give me and instance of the best business minded decision you have made?
3. Tell me a recent crisis you handled?
4. Tell me a time when you used your initiative to improve a way of doing things?

Career Motivation


1. Why Deloitte? 

2. Why Nottingham?
3. Why not any of the other Big 4?
4. Why audit service line? 

5. Tell me about the ACA?
6. What are you expecting to do in your first year?
7. How far are you with your other applications?
8. If all other organizations you have applied give you an offer, why would you choose Deloitte?

Commercial Awareness

1. What issues are currently affecting the industry?
2. What issues are affecting Deloitte?
3. What interested you most in recent news?

Adaptability

1. Give an example when you had to adapt to a situation?

Follow up questions after every competency:

1. What have you learnt from this experience?
2. What would you have made different?
3. How it has helped me?

At end ask two questions! One for your service line and one about the person who is interview you like: Any challenges in tax/audit that are expected to happen and are not currently in the news? Why you personally decide to work for Deloitte?

For the partner interview:

You will have to prepare the presentation. 5 mins + 10 mins follow up questions. After that again the competency questions + CV questions + Questions from your application.

Be yourself, research wikijob, Deloitte website and you will be great!

I hope that I have helped to anyone.

8 January 2014 - 12:40pm

Woah, thanks adam.hair1! Really good tips, will make note of them.

6 January 2014 - 5:00pm

Hey pday, congrats on making it to the Partner Interview Stage!

I am not from an accounting background either, so I encountered a similar problem to you when it came to doing my presentation. Although I did not do my presentation on auditor independence I think there are some cross overs with the topic that I did.

As the UK is moving further towards a more general global trend of have quarterly audits there is likely to be a more constant auditor presence in companies and relationships with clients will need to be strengthened as 99% of CEOs and CFOs already see auditors as a pain in the backside (don't say that!). So you need to consider the fact that client relationships need to be strengthened but independence needs to be assured at all times in able to retain the integrity and objectivity of the audit.

With regards to structure, it is totally up to you. Be original. You only have 5-6 minutes to speak so you can never cover everything in that time, so I would suggest writing down everything you know about it, crossing out what is of least importance and then structuring what you have left to give you a natural flow through the presentation. Also leave subtle hints that you know more about something/not fully exploring it in the presentation due to time restrictions and that might lead your interviewer to ask you about it afterwards; try and dictate the questions you are being asked so you are fully prepared!

One other piece of advice I would have for you is do NOT make a PowerPoint, have a handout or ANY notes if possible. This doesn't suit everyone but I heavily prepared then went in to the presentation during unaided and moved through my pre-determined structure at a pace dictated by the reactions of the interviewer. For example, she didn't seem overly keen on one thing I said so I quickly moved on. It makes you seem more natural and personable. My interviewer even told me that it was a welcome relief from the robotic presentations that she is normally given in interviews.

Anyway, best of luck to you and if you're applying to the Birmingham office then I hope to see you in September :)

6 January 2014 - 2:37pm

Hey there, I managed to get to the partner interview stage! This website definitely has one of the best communities I have seen so far.

I am not from a finance related background and I am a bit struggling with what to include in my presentation. My topic is on the understanding of auditor Independence. I was wondering if anyone could guide me through how to structure my presentation? My interview is on Wednesday next week.

Thanks a lot, and Happy New Year.

18 December 2013 - 8:29am

did you state clearly your choice of the three options.. regardless of analysis not making a clear and precise choice is a fail.. best approach is first sentence in your answer state "from the given information i believe option ** is the best approach for acquisition by the TLB and the following analysis are in support of this decision"

in that way you have covered your decision even before you start analysis..

i tended to potray my choice option in the best light possible and then focused on finding as much not too good information from the other two options. then i defended the weaknesses of my option.

let me know if you need specific help with the question.. good luck.. on your next attempt

13 December 2013 - 12:51pm

I've applied for X Audit-London and just received an offer. This site was very helpful for me so I want to share my experience in the hope to help others.
First, I want to say that I am not a native English speaker and X has been one of very few firms that offered me equal opportunities throughout the entire process, even though every single firm says that it doesn't discriminate people in any ways (there are many people at X from various cultures and they are all very happy to take you in irrespective of your culture or background => so if you are in a similar situation as mine don't be shy to apply to X).

About the interviews:
1) The first interview is pretty much competency based around Deloitte's core competencies. I was asked very similar questions with those written by other people on this site ( 1 time you held a presentation, you planned and organised a project, worked on a team, why audit, what is affecting the industry at the moment ). However I was asked only 1 question on each competency, but the interview lasted for 1 hour (maybe my answers were too long and the interviewer didn't have enough time to ask me 2 questions, as he had to interview another person immediately after me).

2) The partner interview + presentation.
My partner interview didn't follow a particular structure. I started talking about myself (CV stuff). Then we talked quite casually (i.e. the huge difference in the price of houses in the UK when compared with those in my home country). I remember he asked me one competency question ( tell me about a thing you are proud of ). Then, I held the presentation, was followed by very few questions not necessarily related to the topic. So the interview was more like a conversation. My best advice for this would be to take your time before answering a question and think about your best answer possible. I tend to rush into answering the question without reflecting on it and on many occasions I regret. For example, after the interview I felt that I could have given a so much better answer.

Keep reading this site because all the information is valid and extremely helpful.
Thank you to all the people who took from their time to help others!!!
Hope this helps as well.

23 November 2013 - 11:46am

Hey everyone, I was hoping some of you might be able to help me out because I am in a rather unique position. I originally applied for Audit Adivsory (Risk Consultancy) and had my 1st interview just over a week ago. They got back to me within 3 working days and said that they didn't think I was right for the job but because my interview was so strong that I could chose any service line I wanted and, provided that they had an opening, they would put me straight through to the Partner Interview. So I am now booked in for a Partner Interview in just over a week for Core Audit. Any general advice for the interview and the presentation? What topic have other people been given?

19 November 2013 - 9:50pm

Hi Olasensi, thanks for the tips they are really helpful. From your first interview, do you remember whether there were any questions relating to Adaptability, as it appears to be a competency on the Deloitte website, but none of those interviewed mention whether they were questioned on this?

Also, can you tell me how much time it took for you to prepare for the first and second stage interview?

13 November 2013 - 7:13pm

91ddt I think you should call them definitely!!

I have my partner interview tomorrow, I know it says not to take a pp or anything due to there not being a projector. But as it is only to one person do you think it would be okay for me to take my own laptop and have a prezi presentation on their? I have a printed handout of power point slides to give them after but I thought this would give them something to look at. Do you think this would be okay?