Devamsha's Big 4 Competency Bible: Final Interview
Devamsha's Big 4 Competency Bible: Final Interview
Final Interview
Hi guys! I’m Devamsha and I’ve neatened up this document which is what I used to
prepare for Big 4 graduate and internship applications. I will add to it as necessary.
Good luck and I really hope this document is able to guide you in the right direction. If
this helped you out, please don’t forget to subscribe to my channel as a little
thank you :-) I provide a lot more advice and practical tips there too.
Firm Values
Integrity
Outstanding value to markets & clients
Commitment to each other
Strength from cultural diversity
Questions to ask
One question about the service line
One question about the person who is interviewing you
Interview
Competencies
For any and all competency examples below, write down your example.
The competencies below should prompt you to think of as many varied as examples as possible
to help you cover all bases.
★ Tips:
● When answering competency questions you can give examples from work, study
or personal life, but make sure you give a wide variety of examples and a
different example to answer each question.
● Don't go into too much background detail when answering competency
questions. Your interviewer only wants to know about your past behaviours.
Further detail is redundant.
● Make sure your answers and examples you use are the most relevant to the
questions asked, rather than the most impressive or elaborate.
● Don't make your answers up! Your interviewer will find this very easy to spot.
● You can use one situation for two different competencies, but I would
recommend you use as many different situations as possible, as it shows you
have a greater variety of experiences.
● Examples from university course projects are fine - just vary them!
Explanation:
● This is a basic requirement you should demonstrate very well.
c.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
Explanation:
● This competency aims to demonstrate drive and ambition which firms really value from
graduates. They look for enthusiastic and keen starters who are open to facing many
different situations (lots of different clients) and that you will be able to problem solve and
act level headed for during busy/stressful periods.
● Give me an instance of the best business minded decision you have made?
a.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
b.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
b.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
● Tell me a time when you used your initiative to improve a way of doing things?
a.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
b.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
● Do you have any goals in the past and how did you achieve it?
a.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
b.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
b.
■ S:
■ T:
■ A:
■ R:
■ Follow up questions:
1. What you think you learnt from this experience?
a.
2. How have you implemented this since?
a.
3. What would you do differently next time (if anything)?
a.
4. What was the timescale for this?
a.
5. What are some of the challenges you faced?
Commercial awareness
Explanation:
● You need to demonstrate that you have a refined business knowledge and acumen,
which is something that is practiced daily in many careers related to accounting and
finance. Sound business knowledge will allow you to make deeper analyses and apply it
well to the context you are in.
v. Tell me of a time when you were given the task of improving a service or
product?
w. Tell me about a time you provided excellent customer service.
x. Tell me of a time when you have been responsible for a budget.
y. What is Audit in Layman’s terms?
■ It is effectively an independent review of how a company operates;
evaluates where money comes from, where it goes, and what it does
throughout the company. Thus the audit team tracks this money from
when it arrives in the company all the way to when it leaves, be it dividend
or expenditure, and was it legitimate, mismanaged, or illegal. Provides the
assurance that management has presented a fair view of the company.
z. What is the simplified version of Audit
■ Define the scope
1. Planning phase
■ Research identification of key risks
1. Market releases, industry reports, and client discussion
■ Gather relevant information and data
1. Client systems, staff and 3rd party (e.g bank statements)
■ Analyse and review client information and data
1. Challenge the information the client has given you and use your
understanding of business to evaluate the information and form
expectations
■ Prepare questions
1. Questions are used to fill in gaps that the expectations do not
cover
■ Document findings and conclusions
■ Identify and assess compliance with certain standards
1. Check all documents against their compliance standards
■ Identify opportunities for improvements
1. Use the audit to advise them on where and how to improve
■ Reporting
1. Provide the client’s board of directors with an independent audit
report, and a separate report with the key risks and conclusions
aa. What kind of financial statements would be analysed?
■ Depends on the country but usually the primary statements,
1. Balance sheet
2. Income statement
3. Cash flow statement
4. Equity statement
■ Sometimes the disclosures:
1. Principal accounting policies applied / key assumptions relating to
accounting estimates including the legally required information
bb. What are the audit tests involved?
■ The tests in the process of Auditing
1. Test that the control operates effectively over time (eg. that
reconciliations are signed off monthly as having been completed
correctly) and that the underlying transactions are accurate (eg.
that an individual reconciliation was accurate when you
re-performed it). This describes undertaking compliance and
substantive testing
2. Testing can look for indicators of fraud or error, in other words,
analysing expenses paid on the same date to see if the claim has
been split due to authorisation levels
3. testing should refer to the organisation’s risk appetite/key risk
indicators where relevant
■ The tests to gain the qualification from the ICAEW/ICAS
Explanation
● you need to show that you have thought about how your potential role at *company
you’re applying to* will influence your career and your personal development. Your
ambition should be tangible but realistic.
d. What has led you to this point? (Applying for *company you’re applying to*)
■ A lot of cherry picking and learning about myself.
Explanation
● crucial for any role, these skills are essential for risk management, which is an
increasingly important necessity across the sector.
■
1. S:
2. T:
3. A:
4. R:
5. Follow up questions:
a. What you think you learnt from this experience?
i.
b. How have you implemented this since?
i.
c. What would you do differently next time (if anything)?
i.
d. What was the timescale for this?
i.
e. What are some of the challenges you faced?
e. Tell me about a time when you failed to complete a task or project on time,
despite intending to do so.
■
1. S:
2. T:
3. A:
4. R:
5. Follow up questions:
a. What you think you learnt from this experience?
i.
b. How have you implemented this since?
i.
c. What would you do differently next time (if anything)?
i.
d. What was the timescale for this?
i.
e. What are some of the challenges you faced?
Adaptability
● Adapt to a situation
a.
● Biggest challenge
a.
Explanation
● remember that many graduate schemes at *company you’re applying to* will involve
working for and with a variety of clients on very different projects, so this requirement
should come as no surprise.
Explanation
● this will be an important part of any role and you’ll need to show that you can deal with
the variety of issues that may arise in your graduate position, whether they be
technological or client-related.
Integrity
We believe that nothing is more important than our reputation, and behaving with the highest
levels of integrity is fundamental to who we are. We demonstrate a strong commitment to
sustainable, responsible business practices.
● .
○ S:
○ T:
○ A:
○ R:
○ Follow up questions:
■ What you think you learnt from this experience?
■ How have you implemented this since?
■ What would you do differently next time (if anything)?
■ What was the timescale for this?
■ What are some of the challenges you faced?
○ Values:
■ E.g How you embrace working and collaborating with others
■ .
● S:
● T:
● A:
● R:
● Follow up questions:
○ What you think you learnt from this experience?
○ How have you implemented this since?
○ What would you do differently next time (if anything)?
○ What was the timescale for this?
○ What are some of the challenges you faced
Good luck and I really hope this document was able to guide you in
the right direction! If this helped you out, please don’t forget to
subscribe to my channel as a little thank you :-) I provide a lot more
advice and practical tips there too. It’s “Devamsha” on YouTube.