Deloitte Commercial awareness

Deloitte
#1

Hi everyone,

I have my 1st round interview for audit in a few days and wanted to prepare for it. I have had a look around the forum and found valuable information. One question I am struggling with is the commercial awareness bit. This might sound very childish but what are they looking for if such a question is put forward to me and where can I find information with regards to commercial awareness. Also, did any one have to do the numerical and verbal tests prior to the interview?

Thanks.

#2

You have to do the tests after the phone interview. From what I remember, no commercial awareness questions at this stage… but you should be prepared for “challenges in the audit profession” just in case…

#3

as the post above said I was asked what are the major challenges facing the audit profession and know other people have been asked what has interested them most in the news recently.

With regards to challenges facing the audit profession:

  • downward pressure on fees as firms look to cut costs
  • increasing demand for quality after the recession and sound judgement on whether the business is a ‘going concern’
  • also at the moment there are reports being conducted as to whether the amount of non-audit fees (consultancy, tax etc.) being earned by auditors can bring in to question the auditors independence.

For more info on that if you know anyone who is a charterted accountant they will get the accountancy age magazine (not the most thrilling of reads!) and that had loads of stuff on the audit vs. non-audit fee issue at the moment.

Good luck!

#4

Thanks guys. Where could I get so information with regards to commercial awareness of the audit section at Deloitte? As well are there an online websites/journals that I could scan through that talk about the question you 2 have mentioned above.

Thanks