BAP Speaker Meeting
September 23, 2010
Deloitte
Topic: Audit & Tax
Speakers:
Recruiter: Melinda Haffey
Senior Manager: Josh Scott
Audit assistant: Katie Zimmerman, Janet Lee
Tax Staff: Sean Autry, Jason Fernandez, Ben Wayne, Brendan Sugget
Opportunities in Audit and Enterprise Risk Services
Deloitte offers a variety of accounting and risk-related services
-External/ internal audit
-Control assurance
-Security and privacy
-Capital markets
-Regulatory consulting
-Mergers and acquisitions
-Venture capital
-Global offerings
-Corporate governance
Typical (1-year staff day) to Deloitte Audit
8:00 arrive at client site
8:00-8:15 setup computer
8:15-8:45 Read and follow up on email
8:45-9:00 Discuss task load with senior
9:00-11:30 substantive testing prepaid expenses
11:30-12:30 Lunch
12:30-1:00 Respond to client and senior emails
1:00-1:30 Meet with senior/manager to discuss review notes
1:30-3:30 Clear review notes
3:30-4:00 Status meeting with audit team to discuss time and open items
4:00-5:30 Receive and doc selections for substantive testing
5:30-5:45 Input time into DET software
5:45-6:00 Backup and pack up
6:00 Leave
Audit: work with specific client, team 2-10 people
Interns: ask a lot more questions, treated as a first year, ask seniors about questions, around 40 hours a
week
Tax
Tax—global employment services, mergers and acquisitions
International tax, multistate tax, transfer pricing
Lead tax services, tax national platform, tax management
Where will you begin your career?
Lead tax services is the largest services line in Deloitte Tax LLP
Lead tax relationship with clients
Be outstanding federal tax specialists
Entry level opportunity in most services lines
Global employment services
International tax services
Multistate tax services
Transfer pricing
Japanese tax services
Excellent oral and writing skills
Typical (1-year staff day) to Deloitte Tax
8:00 Arrive
8:00-8:15 Setup computer
8:15-8:45 Read email/respond to client and seniors
8:45-9:00 Browse DeloitteNet, tax share
9:00-11:30 1st round prep prep small 1065 return
30min put together file client doc
1hr prepare work papers
45min input data to software
15 min print return/self review
11:30-12:30 Staff/senior lunch and learn-s=corp. procedures
12:30-1:00 Respond to client senior emails
1:00-1:30 Meet with senior to discuss review points on 1120 return prepped last week
1:30-3:30 Clearing senior review points on 1120 return
3:30-4:00 TPL meeting (once a month)
4:00-5:30 research: disallowance calculation for aircraft expenses
5:30-5:45 Input time in to DTE software
5:45-6:00 close down computer/clean workspace
6:00 leave office
Work with clients 2-4 everyday
FAQ
(1)Can I switch from audit to tax or vice/versa?
Yes, but we prefer that our candidates know what area they are interested in.
(2)Do I get to travel a lot?
It depends on the function. Audit typically visits client sites more often, although tax does travel too!
(3)What lines of tax services do we offer?
-Lead (corporate, partnerships, etc)
-PCA (Private client advisors: high net-worth individuals)
-National federal tax services
-International
-State and local
-GES
-Transfer Pricing
(4)How bad is busy season?
-Audit: busy seasons mid Jan – mid Mar. Mandatory 55 hr weeks (M-F, 11hr per day)
-Tax: Feb to Apr 15th and from July to Oct 15th, mandatory 55 hrs weeks
-You will work A LOT, but so does everyone else, so you will always have support!
(5)What does Deloitte look for in candidates?
Balanced and well rounded individuals
Involvement (school, community, professional associations)
Minimum GPA of 3.2
Masters degree encouraged but not required
Strong verbal and written communications skills
Eligibility to sit for the CPA exam under pathway 2 for audit and tax (CISA, ISA, or CISSP for ERS)
Demonstration of teamwork and leadership skills
Ability to work under tight deadlines, pressure, and ambiguity
Professionalism
Motivation
(6)How long does it take to get promoted?
Staff to senior: around 2 years
Senior to manager: around 3 years
Manager to senior manager: 3-4 years
Senior manager to partner: varies based on career path.
Important dates
Full time / Meet the firms: Thursday September 30, 2010
Campus interviews: Thursday October 21, 2010
Summer Intern, Wednesday, Nov 3, 2010
Campus interview, Wednesday, Nov 10 2010
Students Questions:
Undergrad and grad has the same opportunity to apply and interview.
What made you choose Deloitte?
Attitude, people, and friendly working environment.
Does summer intern trains both audit and tax?
Yes.
Speaker Suggestions: Recruit with several companies to get more opportunity. Full time, look more
opportunity, CPA test, keep in touch with people in Deloitte.
Communication skill is important.
Training: learning about Deloitte, values, expectations, goals, technical training, software, national
training with tax, every year get more technical/soft skills trainings.
Interns have variety of client types.