I recently applied for a role in Tax at PWC. I passed the psychometric tests but unfortunately failed at the essay stage. However, I must say how commendable and efficient PWC are with the application process everything is processed very quickly. Anyway although I failed I though given that wikijob has helped me so much I would provide my answer to help people get an idea (of what there not looking for I guess). Nevertheless, got a Grant Thornton interview coming up and just submitted a Deloitte application so watch this space.
Imagine you are working at PwC. If you could choose an ideal client to advise, who would it be? Your ideal client does not have to be a current client of PwC
In answering this question please provide us with answers to the following
- Who is your ideal client and what services do they provide
- What services and advice could PwC offer this client
- What commercial/industry issues are affecting this client in the business market that should be taken into account when providing them with advice?
The emergence of new technology in media related industries are at the forefront of my interests. The Sony group is the fifth largest media conglomerate in the world, and focuses on the Electronics, Game, Entertainment, and Financial Services sectors. Sony is quoted on the Tokyo, London, New York and Osaka securities stock exchange. PwC can and does offer Sony the statutory audit required by law for organisations quoted on the stock exchange. Investors can trade with confidence safe in the knowledge the audit has been completed by one of the world’s leading professional services organisations. PwC look beyond the numbers whilst completing a statutory audit and explore further services options using their years of experience and tailored knowledge of the sector and economy.
As with any global organisation tax efficiency is also an area Sony should maximise. Sony has historically undergone regular restructuring, which in part includes becoming as tax efficient as possible. The PwC tax management and transaction services structuring functions could advise on this matter. The efforts to manage tax obligations and keep up to date with regular changing compliances can be demanding on Sony. PwC’s corporate compliance service could free management time to focus on Sony’s performance. Sony operates globally and as such transfer pricing is a major part of managing the business. PwC’s consistency in being ranked the leading transfer pricing group ensures such services would prove invaluable to Sony.
Within its development functions Sony also has the opportunity to claim tax relief on research and development costs. For instance, with the government decision not to progress further tax benefits to the gaming industry it is important Sony takes advantage of existing reliefs. Similar relief is also applicable to the costs of film production Sony incur. These areas could be examined by the PwC research and development tax relief team, determining eligibility, level of relief and advising on the increased HMRC scrutiny of applying for these claims.
Researching and developing technology in the competitive sectors Sony operates within means secure information and intellectual properties are vital for competitive success. PwC’s award winning ‘OneSecurity’ service drawing on 30 years of experience addresses strategy, people, process, technology and compliance and would mean Sony could be safe in the knowledge that their information is secure.
Environmental issues are a key consideration for organisations operating in electronically based markets. Society is becoming increasingly informed and selective about organisations environmental credentials. This is something PwC would need to take in to account when providing any services, and something the sustainability and climate change services function of PwC could focus on. Additionally, various sales tax increases across Europe in response to the global recession could affect Sony’s operating strategy. PwC would be able to advise on strategic implications of the change on consumer demand.
The above are only a selection of the services PwC could provide. Given the global complexity and diversity of the markets in which the Sony group operates, such professional services would be significantly beneficial.