Deloitte & Touche First Year Expectations…. Your First Year in Public Accounting Firm Overview What you should expect? What do other expect from you? Guiding your development Why Deloitte & Touche Common questions Firm Overview One of the “Big 4” professional service firms Over 120,000 people globally More than 700 offices in 140 countries Fastest-growing Big Four firm in terms of revenues Firm Overview Services we provide: Audit Enterprise Risk Services – Audit – ERS Consulting FAS Tax Audit Services To give reasonable, but not absolute, “assurance” that the reporting of financial statements are “fairly” presented in accordance with GAAP. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Why do we perform audits? Public companies – SEC requirement Private companies – creditor requirements Compliance audits – recipients of government or private funding Due Diligence – IPO’s Employee Benefit Plans And more! The Activity of Audit Evaluate Risk Understanding and evaluating accounting and business processes and controls Testing account balances Reporting Advisement and consultative services Enterprise Risk Services - ERS We help our clients manage risk and uncertainty ERS offers a comprehensive array of services designed to help our clients understand business risks, determine acceptable levels of exposure, implement controls, and provide ongoing measurement and monitoring of the risk environment and compliance. ERS ERS professionals have many different skills and areas of interest. D&T uses Resource Development Units (RDU’s) to group these individuals, aligning their competencies to the needs of our clients. D&T has the following RDU’s: – – – – – Controls Assurance/Internal Audit Applications Systems Project Assurance Data Quality Integrity/Business Metrics Security Services ERS Goals We will be known as: - Masters of the Risk Consulting Marketplace - Risk Competency Centric - Innovators of Risk Services - E-Relevant Consulting – Deloitte Consulting All aspects of enterprise transformation, from strategy and processes to information technology and human resources – Outsourcing Application Outsourcing Business Process Outsourcing Quality Assurance and Compliance Consulting – Solutions Integration Development and Infrastructure Enterprise Management Customer Management Supply Management Innovation and Growth – Human Capital Advisory Services Human Resources Strategies Employee Benefits Integrated Health Actuarial & Insurance Services Financial Advisory Services – Corporate Finance – Dispute Consulting and Forensic Investigations – Mergers & Acquisition Services – Reorganization Services – Valuation Services Tax Services More than 6,700 professionals Over 1,000 partners, principals and directors 1.7 billion revenues planned for FY04 Ten major service lines with over 150 distinct product offerings Tax Services As a Deloitte Tax Professional you will have the opportunity to… Serve the firm’s largest multinational corporations, dynamic growth companies and innovative start ups Build close relationships with your clients and be jointly responsible with a team for delivering all tax services Develop superior technical skills that will enable you to diagnose, research and solve complex client business problems Eventually become a trusted business advisor Tax Services Deloitte’s Tax Status Internal - Fastest growing function - Viewed as a leader in developing global strategies - Firm management is willing to invest in tax External - Largest with broadest and deepest competencies - Fastest growing tax practice - Best reputation What you should expect? Expect not to have all the answers Expect to say the words “I don’t know” Expect to be a manager of multiple tasks Expect that you will make mistakes Expect to learn to be adaptable Expect to rely heavily on your ability to communicate with others What you should expect? Expect to constantly be learning new things Expect to work a lot of hours Expect to learn how to develop into a team leader Expect to be evaluated after each engagement Expect to develop a network of informal and formal mentors Know that your not alone What do others expect from you? That you That you That you them That you That you That you know nothing will ask a ton of questions will make mistakes, but learn from will display a positive attitude will begin to develop into a team leader will manage your time effectively What do others expect from you? That you will display a willingness to take on new challenges and responsibilities That you will be a good listener, as well as a good communicator That you will have a working knowledge of current technology and software applications That you will keep current on business developments Your First Year in Public Accounting Build trust and credibility through hard work and by having a good attitude….but, DON’T SWEAT THE SMALL STUFF! Guiding your development: Mentoring What is a mentor? Do you need a mentor? Finding your mentor It’s a two way street Cultivating a mentoring relationship One of our Human Resources standards states very simply: “Create an environment where mentoring occurs” Guiding your development: Counseling Counselor of a professional staff member is usually a manager or senior manager Each professional staff member has an assigned formal counselor Counselor gives you formal performance feedback at least twice a year Guiding your development: New Hire Buddy Your new hire buddy will contact you at least 2 months prior to your start date Helps you get acclimated with the city you will be working Help you with your transition from college to a professional environment Recently went through the same things you are deciding on Answer questions candidly Why Choose Deloitte & Touche? Career development programs Clients Firm initiatives Public accolades Technology PEOPLE, PEOPLE, PEOPLE Career Development Programs We promote ongoing learning and training programs to help you increase your skills, as well as gain or retain certifications: Global Development Program Diversity Education Program Technical Learning Program “Learning to be the Best” Deloitte Learning Center Clients Comcast Eagles Independence Blue Cross Major League Baseball PFPC PMA RMH Sun Bank Wawa Firm Initiatives Diversity Flexible work arrangements Global People Commitment Survey WIN Public Accolades Fortune Magazine’s “100 Best Companies to Work For” D&T has been selected every since its inception, making it the only professional services firm to make the list six consecutive years. Training Magazine’s “Top 100 Companies for Training” – Two consecutive years. Working Mother’s Magazine “100 Best Companies for Working Mothers” – Nine consecutive years DiversityInc.com’s “Top 50 Companies for Diversity” and “Top 100 Companies for Diversity and Recruitment and Retention.” Technology The resources to provide world-class, seamless global service: AuditSystem/2 ETS Global INSite Global INCompass Deloitte Audit PSN Web Extensive Knowledge Sharing Systems Elements of Success Keys to a Successful First Year! “Adopt the phrase `I don’t know’… the more questions you ask, the more you will learn.” “Have a positive attitude towards teamwork. Something insignificant to you is probably important to someone else.” “Take an ownership interest over what you are responsible for.” Elements of Success Keys to a Successful First Year! “Embrace a willingness to adapt to others. Beyond the handful of people you will meet through the recruiting process is a larger group of people with a myriad of different personality types and elements of style. These people are called senior accountants and clients…” Elements of Success Keys to a Successful First Year! “Information technology will never replace your need to reason…it will only enable you to do a better job of it.” “Patience is a virtue. You are not going to know everything immediately…it takes time and EVERYONE is in the same boat.” Your Opportunity The work is significant and meaningful A career that is challenging and one of lifelong learning A high ethics profession Public service oriented Great financial rewards Exciting! Frequently Asked Questions Do you work a lot of overtime? Is it possible to change from one service line to another? How much travel will I have in my first year? What is the dress code in your office? Does Deloitte hire foreign nationals? What type of training can a new hire expect?