https://forum.lowyat.net/topic/1665357 (v2)

Who are the Big 4 accounting firms?

The Big 4 refers to the four largest accounting firms in the world.

These firms provide an extensive range of accounting and auditing services including external audit, taxation services, management and business consultancy, and risk assessment and control.


1. Deloitte Touche Tohmatsu Limited

Deloitte Touche Tohmatsu, popularly known as just "Deloitte", is probably the biggest professional service organization in the world. The firm was founded by William Deloitte in 1845. It went through a series of mergers and reorganizations but kept its brand name along with its quality standards and company values. Now, it emerges as one of the most successful brands in the world.

In 2014, it earned $34.2 billion and had approximately 210,000 employees in more than 150 countries demonstrating excellence in providing audit, consulting, financial advisory, risk management, and tax services to clients worldwide.


2. PricewaterhouseCoopers (PwC)

With $34 billion revenues in 2014, PWCPwC is one of the world's largest providers of accounting services. It employs more than 195,000 professionals in 157 countries around the world. The company was formed by the merger of two large accounting firms – Price Waterhouse, and Coopers & Lybrand. The two decided to merge in 1998 and dedicated themselves to provide services of value while establishing and maintaining good customer relations.

PwC firms operate locally in different countries around the world. These independently owned and managed firms, like other international companies, share common values and standards. PwC provides excellent assurance, consulting, and tax services.


3. Ernst & Young (E&Y)

Ernst & Whinney merged with Arthur Young to create Ernst & Young in 1989. Ernst & Young is a global organization of member firms in more than 150 countries. It employs people equipped with professional skills and values of integrity, respect, teamwork, enthusiasm, and motivation. These form the core values of Ernst & Young.

The organization also values knowledge and skills development, helping around 190,000 employees achieve their potential through professional training and career growth programs. Ernst & Young offers assurance, advisory, tax, and specialty services. Ernst & Young earned $27.4 billion in 2014.


4. Klynveld Peat Marwick Goerdeler (KPMG)

KPMG is a global network of accounting firms providing audit, tax, advisory, special interest and industry-specific services. It employs approximately 162,000 professionals working together to provide quality service in 155 countries around the world. KPMG earned $24.8 billion in 2014.

The organization was formed in 1987 through the merger of Peat Marwick International and Klynveld Main Goerdeler. Like other professional service organizations, KMPG places great value on its people and quality of service.

Great progress...

Hi, anyone here had any experience with PwC's trainee program?

I'm still waiting for them to inform me whether or not I'm short listed during interview.
What to expect during the interview and how should I prepare?

This post has been edited by Gagaloo: Nov 17 2015, 10:08 AM

Just wanted to clarify a point noted about Big 6 in the old v2 thread...

Back in the days, Big 6 referred to Price Waterhouse, Ernst & Young, Deloitte, KPMG, Arthur Andersen and Coopers & Lybrand

BDO & Crowe Howath were never considered "big"

I think BDO & Crowe Horwath is within Malaysia's regulators' definition of Major Firms together with Big4

Globally Crowe Horwath is not so big, global regulator define the GPPC firms to include Big4+ Grant Thornton and BDO

And really it depends on how you count, there are not so big firms in Malaysia that is associated to very large network, for example RSM

Not sure why this big or not big thingy matter though

Anyone know what's the audit hierarchy for Deloitte?

i.e. aa2->aa2->sa1->sa2

etc etc

sa2->sa1->s2->s1->am

1. Appraisal 2 times/year? Which month?
2. Do you have any idea what's the range of each rank?

thanks

This post has been edited by Helic: Nov 18 2015, 07:26 PM

I submitted my application to pwc and Deloitte 2 weeks ago thru the online application process, until now I still haven't get their reply, should I call them?

This post has been edited by imyours99: Nov 19 2015, 03:11 AM

BDO is not largest enough to consider BIG
https://en.wikipedia.org/wiki/Big_Four_(audit_firms)

U can call but usually they only notify for those who are shortlisted for an interview. they no time to inform those rejected candidates.

I have sent my application to PwC, KPMG, Deloitte and BDO...
so far, only Deloitte had replied and they rejected me by replying

"Thank you for taking the time and effort in exploring the Assurance and Advisory Senior position with us. We regret to inform you that we are unable to offer you the position at this time.

However, we will maintain your resume in our database and shall contact you accordingly should future opportunities arise. "

Damn, I should have applied for junior position since I just came from a small audit firm. I don't mind they discount my experience but I just want them to know that I had the necessary knowledge and experience. So sad.....

They replied me in 2 days time but via email

Err, even if they discount your experience, they will still call you up for an interview if they feel you suit the bill.

Besides, economy's bad so just keep applying when you can.

You'll get there soon.

Guys, I want advice from you all. Which industry should I go to? My plan is going to Singapore for my career after my audit life. So what do you think is the best industry to go into? If you ask me 'just go according to ur interest', I would say I also dunno what is my interest. I just know I really want to go Sg after this. All your comment will be highly valued =)
Here is the major list of industries in audit for PWC MALAYSIA

Industry Xplorer programme

This one year programme gives first year Associates the opportunity to experience a variety of clients and industries before you specialise in a specific industry. You'll have the benefit of:

gaining a wider skill set and exposure
being agile and versatile as you will have the opportunity to adapt to clients from different industries
Our Assurance practice is organised by industry specialisation:

Construction, Leisure / Logistics, Automotive / Agriculture & Services (CLAS)
Construction
Plantations
Property
Logistics
Automotive
Agriculture
Retail & Consumer
Shipping

Financial Services (FS)
Banking Institutions
Capital Markets
Insurance
Investment Banking

Energy, Utilities, Media & InfoComm (EUMI)
Telecommunications
Entertainment
Media
Oil & Gas
Electricity
Water

Middle Market & Growing (MMG)
Small to medium sized trading and manufacturing companies
Multinational companies with subsidiaries in Malaysia

Err do they give you a choice? Alot of my frens in this programme did not get rotated around eventho thats the objective of the programme.

I think it's better for you to write PwC instead of PWC, just a kind reminder.

Sg is recognized as the financial hub of ASEAN, so i guess the FS sector would be good if you are planning to go Sg. But financial markets are quite specialized. So unless you are pretty sure that's what u like, i suggest u to look around somemore

Thanks for the comment.
How about CLAS? what is ur opinion?

how many years of experience?

I just got a job with kpmg and its commencement date is next month.
Any idea which area is the best to stay as I need to rent a room asap.

Bandar Utama.
BU2 is the nearest to KPMG and can be reached within walking distance.

I am interested in the CIMB PwC Fusion programme. Anyone in it now?
By the way, I am an Australian Uni graduate..How many more paper do I need to take to compete ICAEW?

3.5 years of experience in audit but small audit firm..
i don't mind to be demoted but it was awkward for me to click the audit junior posts as the category is for under graduate

I had received call from KPMG and they sent me a link to an online assessment but I was unable to complete it due to time limit

here goes my KPMG

Exempted papers for professional varies from each university, not all aussie U are granted the same number of exempted papers. You will need to apply thru the website to know exactly how many papers you are exempted for.

call HR and tell them

u should jz focus on whatever u can answer instead of the time limit.. If you answered only 6 and got it all right its mucb better than u answered all 30 and only got 7 right..

u got my point here?

If you cant handle the online assessment, maybe KPMG aint for you. Lol.

try deloitte , i think they hiring now

Is light colorblind an issue for joining big 4? I got an offer from K and they ask me to perform medical checkup next week.

I have a bit colorblind (can see color but sometimes hard to differentiate) and if they test me on Ishihara Color Vision Test, I dn think I can make it. simple one maybe can.

will this be an issue?

Hi does big 4 still pay 2.7k for degree level these days? And deloitte is slight higher at 2.85k?

Hi everyone here, im going for interview soon in EY damansara. Can give any tips in finding parking and what is the rate? I need to be there by 930am (appointment time is 1030am).

There are a lot construction works going there and the route might have changed. The last time i went to EY is about a year ago.

Thanks in advance.

deloitte 3

Including or excluding allowance? I think EY or KPMG pay better allowanceright

Lol. No kawan dalam big 4 mehhh.

Deloitte no allowance punya. Only other firm ada lo. So 3k is all monetary.

Had been called for interview at PwC for Tax position soon. I had no work experience before.

So nervous and excited at the same time, how should I prepare?

Just park on the open site car park (Jalan Damanlela Open Site) which beside Menara Millennium

I'm not sure with the rate right now, as they just revised it. But the maximum rate for Menara Millennium employee will be RM 13. You might find difficulties to get a parking spot by the time you reach.

PwC and KPMG still pay less than 3k

While EY and Deloitte already higher than 3k. But KPMG already announced that they will revise their salary soon during their annual dinner.

deloitte rejected me

i just received a call from KPMG
there will be an interview tomorrow

thanks
maybe that is the reason why they let me go for the 2nd stge

Anyone in the financial services industry for audit? How is it?

Indeed it is hard to find, the entrance was built up with traffic when I reached. I got no choice and ended up parking in the basement of Menara Millennium. 2 hours there cost me RM10.

Actually the assessment is never meant to be finish, the introduction/instruction page before the test already stated that most of the candidates would not finish all the questions.

This post has been edited by choonyink: Nov 27 2015, 09:31 AM

I think there wont be a huge different if you park at open site car park. They take 3 hours to reach the maximum charge if not mistaken.

I see i see. Thank for the information.

Hopefully what you said is true that they are going to revise the salary.

This post has been edited by maggigoreng: Nov 28 2015, 01:39 AM

Hey Maggi goreng, I just read ur post. Are u getting offer after attended the interview on 12 November 2015? I called hr but he told me my interviewer havent make decision but it is already more than 2 weeks.

Hey, does anyone here know normally how long will kpmg kl reply or give offer after attended interview? I had attended the 12 Nov interview and hr told me that interviewer havent make decision yet. After I read all the review on lowyat, it seems that ppl who attended the same interview with me already get offer after a week. Since it is already more than 2 weeks, does it means that my resume just keep in view? He also told me that since now it is peak period, I might not be able to know the result next week and he doesnt want to give me fake hope of being able to know result next week.

This post has been edited by flying monkey: Nov 28 2015, 01:21 AM

Now it's really peak period. If you got no other offer, then wait. If you have offers from other firm, notify them in a polite way so you don''t burn bridge. Big4 keep all the applicant records and there is a cooling period if you failed in your application. You can try to call the interviewer to remind them because they are dealing with a lot of applications.

oic....
well, i screw up the interview......
one of interviewers gave me a lot of hard questions....
maybe I'm not up to their standards or there are too many applicants....

If you don't mind me asking, when was your interview with EY?

This post has been edited by toiletmonkey: Nov 28 2015, 11:03 PM

Which one pays you better?
I guess it depends on which audit team and industry they are going to put you in.

Hey thats great. Which industry will you be auditing? Starting January?

thanks
but I think I screw up the interview......
one of the interviewers gave me a lot of hard questions....
maybe I'm not up to their standards or there are too many applicants....

will big4 pay for acca annual subscription?

U can claim. But theres an annual cap

If after i signed the offer letter and receive a better offer elsewhere, am I still allowed to go o that other firm I got? I know it may not leave a good impression, but it is do-able right?

hmmm, that means if never claim need pay ourself ?

they asked me a lot about accounting standards, audit standards and audit methodology.....
my answer is not up to their standards especially on audit methodology since I'm coming from small firm, they were not satisfied with the way I replied

If you are applying for anything more than freshie, of course they would expect you to know the accounting and auditing standards as what their own staffs would know at their level

Sorry, I'm not trying to add salt to your wound, but just because you come from small firm doesn't give you the excuse of not knowing the accounting and auditing standards after 3.5 years. If that's what the small firm taught you, I recommend you run fast fast to another medium firm maybe, so you won't be forever stuck. Even accounting staffs in PLCs or MNCs are expected to know accounting standards these days

Is there any engineering major available position in this company?

Hi flying monkey, did you get any updates from the HR department? Face the same problem like you. Being told to wait patiently as now it is peak period and my interviewer has not yet decide on my interview outcome.

Hi everyone, I get an invitation from Deloitte to attend their case study session. Would like to ask what it is about? Is it about sitting for english test,IQ test and essay writting? Appreciate it if anyone can provide me some advcies so that i can prepare for this case study session. Thank you.

it took KPMG and EY just 1 week for their replies after attended both of their interview sessions in the same week. what i can say is, EY adjusted their offer and KPMG remains the same.

no problem...
thanks a lot for the advice...

Accounting standards wise, I believe I answered them what they wanted - standard codes, accounting treatments, double entries, consolidations, equity accounting, deferred tax
But I believe the ONLY gap is the audit methodology because they seem unsatisfied with the way I answered them.....

Yeah... I'm currently waiting for the reply from a mid-tier firm....

Currently I am thinking whether to work in KL's Big 4 or other small towns' Big4. Will I get better career pathways if I work at KL Big4?

More exposure to complicated sections and issues and lucrative industries
You get to audit public listed co or major banks
Higher pay
Better audit methodology

So yes, better career path due to steeper learning curve

What exactly did they ask and what exactly did you answer?
I'm trying to understand the difference in the audit methodology

I guess you will choose EY?

If so, welcome

Audit methodology should be standardise for all global network firms
I guess the main difference is working with different people on a variety of experience - the companies in KL tends to be bigger, you get more variety, they do more exotic things compared to branch offices that are more straightforward or standard

But I was told hours are better in branch offices, less traffic jam... so I guess it boils down to what you want
I knew I have to work in KL, there's too limited career opportunities in my hometown, after audit firm, what's next? Or even within audit firms, opportunity to go up is less

Ikr, working in KL I might need to spend extra expenses on accommodation and transportation and etc, so probably the monthly saving will less than working in hometown. Sigh....

Yes audit methodology goes by the firm
I should have said 'audit approach'

Depends on what you want, really can't learn much from small firm.. Too limited exposure.. Esp to oil and gas and banking.. They're all in KL

Traffic jam is sth you need to learn to manage.. Yes working hours can be very bad but it also means you are learning more and at a faster pace

Newbies should place learning as their top priority..
After a few years you can balik kampung

Not to mention you get to be completely independent when you stay away from home.. I think it's sth that someone really should go through as a phase of their life.it'll make you grow and tougher

But still... Some people prefer to live comfortably at home

This post has been edited by pherac: Dec 7 2015, 10:06 PM

Anyone here that could possibly shed some light on which industry that I should go for that enhances career progression?

I'm given the chance to audit either:

i) Banks
ii) Insurance
iii) Asset Management

This will be in the UK if that matters. I did an internship doing Insurance but Asset Management caught my attention when I did some of the work for them. Personally feel that Banking might be a bit worse in terms of working hours and not sure if it comes with more benefits.

Big 4 pays in USD?

I'm not from those industries, so can't really comment. But 1 thing I observe amongst my friends is, if you are in asset management, there is limited career opportunities in Malaysia and you will have to work in Singapore or Hong Kong if you want to be back to Asia

Generally it's easy to get a job with UK banking or insurance experience

Yup the big 4 in USA does.

How about here? In Malaysia.

Lol what do you think bro? Paid in myr of course. Cheap labor only the people in Malaysia lol.

The reason i asked is because those working in Big 4 usually earns a lot. So I am guessing, maybe due to the conversion rate? Eg: USD3,000 x 4.3 = RM12,900.

So you mean P_ _ pay the lowest in the industry now.. lol..
Would it be less competitive advantage for them?

I guess E _ is the one growing now.. they have lots of customers at these days

If i plan to join other industry after audit firm,will the employer really care whc branch do I from?

They will ask you about your experience

What you tell them about your experience can very well depend on your exposure too

hmm. thanks for the reply. Wouldn't want to get stuck if I return to Malaysia. Might just stick with Insurance for now.

Hi, does anyone have any idea about Deloitte online assessment test?

Hi it's probably a silly question but I'm graduating with a degree in few months time. My cgpa is very average 3.2. Do you think it'll increase the chance of getting hired into big4 if I tell them I'm interested in taking professional paper and bond with them?

But I'm a local graduate. I guess it's kinda hard with that kind of results.

Btw anyone has any advice on which professional papers the big 4 would most likely prefer? Acca or icaew?

Currently my mind is set on icaew but I heard big4 are quite reluctant on it as they would have to let me off for months to attend classes. Can anyone verify on that?

Thanks

Hey man, its definitely possible.

Regarding which papers you choose, I dont think it really matters.

A friend chose ICAEW initially then changed to ACCA. They only care if you pass the papers for sure.

Any particular reason why? Is it too hard?

Hi chiahau, iirc on last V2 thread you mentioned that you were once offered a position in PWC's TTG right? may i know how long did it take for them to revert back to you regarding the offer after you attended the interview?

this question is open to everyone else also.

2 working days

wah so fast.
me already one week still haven't got any respond.

that means my chance of getting offered a position is low now?

Never try never know

They don't have preference but if they sponsor you they will get to choose which prof exam you'll do.. Local grads mostly ACCA

EY firm policy is that we can't say no to approving study leave especially for first time attempt.. . Length of the leave depends on the exam you're taking and whether it's first attempt... Icaew gets longest study leave

Sometimes the interviewer submits the interview assessment form late to HR for them to proceed

I see so you're saying that if you're doing 2nd attempt then you'll get less study leave?

Hmm I have heard of cases where local grads get to do icaew

if not mistaken :-

1st attempt =5 days study leave + 1 day exam leave
2nd attempt = 3 days study leave + 1 day exam leave
3rd attempt and so on = 1 day study leave + 1 day exam leave

Hi everyone.Seems like all participants in this thread have at least gone through the interview stage.May I know how long does big four take to respond to job application online?

I applied for PwC online three weeks ago.One strange thing is that there was no submit button on the last page of the online application.I can only choose to save or print my submitted info.I became a bit worried because I did not get a confirmation mail for my application status.Sent an email to the HR two weeks ago but also no response. Can anyone tell me is this normal?

Thanks in advance for going through my post