Are you preparing for an interview with KPMG? In this blog post, we will dive into the top 25 most commonly asked interview questions at KPMG and provide expert tips on how to answer them.
One of the top proficient services companies in the world, KPMG is renowned for producing excellent work in the audit, tax, and advisory services sectors. The interview process at KPMG is rigorous and highly competitive, so it’s important to be well-prepared and ready to showcase your skills and qualifications.
From questions about your previous experience to queries about your problem-solving abilities, we’ve got you covered. The most typical interview questions at KPMG have been prepared in-depth by our team of experts, along with thorough responses that will set you apart from the competition.
So, whether you’re a recent graduate or an experienced professional, this guide will provide you with all the tools you need to ace your KPMG interview and land your dream job.
1. Can You Tell Us About Your Previous Experience Working In A Professional Services Firm?
I have several years of experience working in professional services firms, specifically in the accounting and finance field. I began my career at a big four accounting firm, where I gained extensive experience in audit and assurance services for various clients in different industries.
I also gained experience in financial statement preparation and analysis, as well as internal controls and risk management. In my most recent role, I worked at a consulting firm where I provided strategic and operational consulting services to clients in the healthcare industry.
Through these experiences, I have honed my skills in project management, data analysis and visualization, and client relationship building. I am well-versed in accounting and tax regulations and always looking for ways to stay current and improve my knowledge.
2. How Do You Stay Current With Changes In Accounting And Tax Regulations?
I take staying current with changes in accounting and tax regulations very seriously. I’ve devised a couple of tactics to ensure I’m constantly current. Firstly, I subscribe to various industry publications and newsletters, such as the Journal of Accountancy and Tax Notes, to stay informed of any new developments or changes in regulations.
Additionally, I participate in continuing professional education (CPE) courses and attend relevant conferences and seminars to expand my knowledge and stay current. Furthermore, I am an active member of professional associations, such as the Institute of Management Accountants and the AICPA provide me access to various tools and networking opportunities.
Additionally, I have a great team at KPMG that keeps me informed of the latest updates and changes, and I actively participate in internal discussions and training sessions to keep my knowledge updated.
3. How Do You Prioritize And Manage Multiple Projects And Deadlines?
I’ve spent a lot of time managing various projects and deadlines and created a few tactics to help me prioritize and stay organized.
To begin, I establish the significant objectives and deliverables for each project. Then I develop a thorough project plan defining the activities, deadlines, and resources needed to meet those objectives. This allows me to grasp the extent of each project and appropriately prioritize my workload.
Secondly, I employ various tools and strategies to manage my time and meet deadlines. To keep track of all my projects and deadlines, I utilize task management software and arrange regular check-ins with my team and clients to ensure that everything is on track. I also use a calendar to plan my time and ensure that I devote the appropriate amount of time to each assignment.
Thirdly, I am an excellent communicator who ensures that my team members and clients are updated on progress and any possible difficulties that may emerge. I also am adaptable and sensitive when unexpected situations occur.
Finally, I have an excellent staff with whom I collaborate closely to ensure that all projects are finished on time and to the most significant possible level. We also meet regularly to review objectives, timelines, and any issues that may occur.
4. Can You Provide An Example Of A Particularly Challenging Project You Have Worked On And How You Overcame Any Obstacles?
One of the most difficult projects I’ve worked on was a financial due diligence effort for a huge international corporation. My duty was to lead the financial due diligence process and offer an unbiased review of the target firm’s financial and operational performance as the company planned to purchase another business.
The short deadline, since the client expected the due diligence report within a month, and the complexity of the target company’s activities, which were dispersed across many countries, necessitated me to engage with a big team of individuals with diverse backgrounds and experience.
To tackle these challenges, I first devised a thorough project plan and delegated specific duties and responsibilities to each team member. I also made it a point to communicate with the team openly and regularly to ensure everyone was on the same page.
I also ensured that we had the appropriate tools in place and that we could access all relevant information and data for the due diligence process. In addition, I divided the project into smaller, more manageable portions. I established interim dates to ensure that we met the ultimate deadline.
5. How Do You Approach Problem-Solving And Decision-Making In Your Work?
I approach problem-solving and decision-making in my work with a structured and logical approach. My first step is to thoroughly understand the problem at hand and gather all relevant information and data. I also like to involve the relevant team members and stakeholders in the process to ensure we consider all perspectives.
Once I clearly understand the problem, I use various problem-solving techniques such as root cause analysis, brainstorming, and SWOT analysis to generate potential solutions. I then evaluate each solution based on its feasibility, impact, and potential risks to determine the best course of action.
In making decisions, I consider both the short-term and long-term consequences of my decisions and always keep in mind the company’s values, goals, and objectives. I also ensure that my decisions align with industry best practices and regulations.
I also believe in being transparent and open to feedback. I am always willing to re-evaluate my decisions if new information becomes available or a better solution is identified.
Finally, I always communicate my decisions and the reasoning behind them clearly to my team members and stakeholders, and I am open to discuss any concerns they may have.
6. How Do You Ensure Effective Communication And Collaboration With Clients And Team Members?
I establish clear lines of communication with clients and team members from the start of a project. I set up regular check-ins and progress meetings to ensure that everyone is informed and on the same page. I also encourage open and transparent communication and am always available to answer questions and address concerns.
I am also a strong believer in active listening, and I make sure to understand the perspectives and needs of clients and team members before responding. I also take the time to properly and simply explain complicated topics and ideas to ensure that everyone is on the same page.
I use a variety of communication tools, such as email, instant messaging, video conferencing, and project management software, to stay in touch with clients and team members and to make sure that information is sent quickly and clearly.
I encourage teamwork and collaboration by fostering a positive and inclusive work environment. I lead by example and am always willing to lend a hand to my team members, and I recognize and reward good teamwork.
7. Can You Discuss A Time When You Had To Adapt To A New Technology Or Tool In Your Work?
I have had several opportunities to adapt to new technologies and tools throughout my career, and I approach each one with a proactive and positive attitude.
One specific example that comes to mind is when I had to adapt to a new data visualization tool for one of my projects. The tool was completely new, but I knew it would be important for effectively communicating the project’s findings to the client.
I first researched the tool and familiarized myself with its features and capabilities to adapt to the new technology. I also reached out to colleagues who had experience with the tool and asked for their guidance and advice.
Once I understood the tool well, I practiced using it by creating sample visualizations and getting feedback from my team. I also attended training sessions offered by the tool’s vendor to gain a deeper understanding of the tool’s capabilities.
With this approach, I quickly became proficient with the new tool and could use it effectively in my project. The client was impressed with the visualizations, and the project succeeded.
8. How Do You Maintain A Strong Attention To Detail In Your Work?
Before starting, I take the time to thoroughly review and understand the instructions and requirements of each task or project. I also ask clarifying questions if there is anything that I am unsure of.
I also take regular breaks and avoid multitasking, as this can lead to mistakes and oversights.
I am constantly seeking feedback and constructive criticism, which helps me identify areas where I can improve and maintain strong attention to detail.
9. Can You Discuss Your Experience With Data Analysis And Visualization?
One specific example of my experience with data analysis and visualization is a project I worked on for a retail client where we analyzed their sales data to identify patterns and trends in customer buying behavior.
I used Excel to clean and manipulate the data and then used data visualization tools such as Tableau to create interactive dashboards that allowed the client to easily understand the insights we uncovered. The client was able to use these insights to make data-driven decisions that improved their sales and profitability.
I also have experience with creating data visualizations that are clear, concise, and easy to understand, and I have a good understanding of graphic design principles to create visualizations that effectively communicate insights.
10. How Do You Stay Organized And Manage Your Workload?
I use a task management tool such as Trello or Asana to keep track of my tasks and deadlines. I prioritize my tasks based on their importance and urgency, and I make sure to update my task list regularly to ensure that it is accurate and up-to-date.
I also use a calendar to schedule my time and ensure that I allocate enough time for each task. I also schedule regular breaks to avoid burnout and to stay fresh.
I use a time tracking tool to track how much time I spend on each task, which helps me identify where I may be spending too much time or where I am more efficient.
I make sure to communicate regularly with my team and clients to ensure that everyone is aware of my workload and any potential delays.
11. Can You Discuss A Time When You Had To Work With A Difficult Client Or Team Member And How You Handled The Situation?
To handle the situation, I first identified the root cause of the client’s dissatisfaction by asking them to elaborate on their concerns. After understanding the client’s needs and expectations, I then created a detailed project plan. I shared it with the client for their review and feedback.
This helped to set clear expectations and to ensure that we were all working towards the same goal.
I also made sure to communicate with the client regularly and keep them updated on the project’s progress. I also made sure to be transparent about any delays or issues and worked with my team to find solutions to address them.
In the end, the client was satisfied with the final product, and we maintained a good working relationship.
12. How Do You Approach Client Relationship Building And Management?
I constantly endeavor to create high-quality work that surpasses my clients’ expectations by taking the time to understand their needs and goals. I also make it a point to connect with my clients frequently, bringing them up to date on the status of their projects and resolving any problems they may have.
I respond to my clients’ inquiries and issues promptly. I am also upfront and inform my clients of potential concerns or delays.
I make it a point to earn my client’s trust by being dependable and consistent in my work and always acting in their best interests.
I make it a point to solicit feedback from my clients regularly and to utilize it to enhance my services and better meet their requirements.
13. Can You Discuss Your Experience With Project Management Methodologies?
A project I worked on for a technology customer where we applied an Agile approach is one specific example of my experience with project management techniques. I guided the project team and collaborated closely with the customer to ensure that we delivered high-quality work that satisfied their specifications. I also made it a point to have frequent sprint reviews and retrospectives to ensure the project was on track and to identify any areas for improvement.
Another example is a Waterfall technique project I worked on for a manufacturing customer. I was responsible for creating the project schedule, managing the budget, and ensuring the project was completed on time and under the allocated spending limit. I also made it a point to provide regular project status updates to the customer to keep them informed of the project’s progress and handle any concerns that emerged.
14. How Do You Stay Current With Industry Trends And Developments?
I make sure to read industry-specific publications and journals to stay informed of the latest trends and developments. I also follow thought leaders in my field on social media. I attend relevant industry conferences and events to learn about new developments and network with other professionals.
I make sure to take advantage of continuing education opportunities, such as taking courses or earning certifications in my field, to build my skills and knowledge.
I also regularly meet and collaborate with my colleagues, peers, and clients to share knowledge and information about new trends and developments. This helps me to stay current with the latest thinking and to gain valuable insights from experienced professionals.
I stay updated with the latest technology and tools in my field. I can leverage these advancements to improve my work and deliver more efficient and effective solutions to my clients by keeping abreast of new technologies.
15. Can You Provide An Example Of A Successful Project You Have Led And The Impact It Had For The Client?
One successful project that I led was for a large retail client. The project was to implement a new accounting system to help the client streamline their financial processes and improve their overall financial reporting.
As the project leader, I was responsible for creating the project plan, managing the project budget, and leading a team of experts to deliver the project on time and within budget. I also worked closely with the client to understand their needs and to ensure that the new system met their requirements.
One of the project’s key challenges was ensuring that the new system was fully integrated with the client’s existing systems and processes. To overcome this, I worked closely with the IT team to ensure that the new system was fully compatible with the client’s existing infrastructure and that there was minimal disruption to the client’s day-to-day operations.
The project was successfully delivered and implemented on time, and the client significantly improved their financial reporting and processes. The client was delighted with the outcome and has seen an improvement in their financial reporting and processes. The client also acknowledged the project’s impact on their business by improving their financial performance and ability to make strategic business decisions.
As the project leader, I felt tremendous satisfaction knowing that this project had a big influence on the client’s business and assisted them in reaching their financial objectives.
16. How Do You Handle Tight Deadlines And High-Pressure Situations?
I prioritize my tasks and make sure that I am focusing on the most important and urgent tasks first. This helps me stay focused and ensure that I progress on the most critical tasks. I also break large tasks into smaller, more manageable chunks and make sure to track my progress regularly.
17. Can You Discuss Your Experience With Financial Modeling And Forecasting?
In my previous role, I worked as a financial analyst. I was responsible for creating detailed financial models for various clients across different industries. I have experience in creating models for companies in the retail, healthcare, and manufacturing sectors. I have also worked on models for both private and public companies.
Making sure the data is accurate and reliable has been one of the biggest hurdles I’ve encountered while developing financial models. To overcome this, I thoroughly reviewed and validated the data and performed a sensitivity analysis to test the model’s robustness.
I am also familiar with various financial modeling software such as Excel and have experience with VBA and macros to automate the financial modeling process.
I have experience in creating financial forecasts using different techniques such as trend analysis, historical analysis, and industry averages. I have also worked on creating financial forecasts for both short-term and long-term horizons.
18. How Do You Ensure The Accuracy And Integrity Of Financial Data?
First, I make sure to thoroughly review and validate all financial data before using it in any analysis or modeling. This includes checking for errors or inconsistencies and ensuring that the data is complete and accurate.
Secondly, I establish clear data entry and management processes to minimize the risk of errors. This includes implementing internal controls, such as regular data backups, to ensure that the data is protected against any potential issues.
Thirdly, I have developed a good understanding of accounting principles and financial regulations, and I ensure to comply with them in all my work.
Finally, I also make sure to perform regular quality checks on financial data to ensure that the data is accurate and up-to-date. I also document all changes made to the data and explain the reasons for those changes.
19. Can You Discuss Your Experience With Internal Controls And Risk Management?
I have experience with internal controls and risk management in both my professional and academic background. In my previous role as a consultant, I was involved in several projects where I helped clients to establish, review and implement internal controls and risk management processes.
In one project, I worked with a retail company to review their existing internal controls and identify areas of improvement. I then assisted the company in implementing new controls and procedures to mitigate identified risks. This included creating a new system for monitoring inventory levels and implementing new procedures for financial reporting.
I also have experience in identifying and evaluating potential risks that could affect a company’s operations and financial performance. I have used various risk management tools such as SWOT analysis, PESTLE analysis, and risk matrix to evaluate different types of risks.
20. How Do You Approach Identifying And Addressing Potential Ethical Issues In Your Work?
I make it a point to become acquainted with the applicable codes of conduct and ethical rules related to my employment. This involves remaining current on any changes or modifications to these policies and knowing the specific standards that pertain to my profession and the industry in which I work.
In my job, I actively seek out possible ethical concerns by evaluating diverse points of view and asking questions to uncover potential dangers and obstacles. When presented with an ethical quandary, I seek advice from my team members or supervisors.
I try to communicate properly with my clients and team members to discuss any ethical problems that may emerge. This ensures that everyone is informed of any possible problems and that any required action may be taken to solve such problems.
I also feel that being truthful and accountable in all of my work is critical. I make it a point to document all my decisions and explain why I made them. I also ensure that my work complies with all legal and regulatory regulations.
21. Can You Discuss Your Experience With International Accounting Standards?
I have experience working with international accounting standards, specifically IFRS and US GAAP. As an auditor, I have been involved in several projects where I assisted clients with their financial reporting requirements under these standards. In addition, I have been trained on the differences between IFRS and US GAAP and have experience in helping clients navigate these differences.
One notable project I worked on was assisting a multinational company with its financial reporting under IFRS. This involved reviewing their financial statements and ensuring that they complied with IFRS. I also helped the company to make the necessary adjustments to its financial statements to ensure compliance with IFRS.
I have also been involved in several projects where I have assisted clients in comparing their financial statements prepared under IFRS to their financial statements prepared under US GAAP. This has helped clients identify differences and make adjustments to their financial statements.
I am also familiar with using IFRS for SMEs, which is designed for small and medium-sized entities. This standard is designed to be less complex and more proportionate to the size and complexity of the entity.
22. How Do You Stay Current With Tax Laws And Regulations Changes?
I research relevant tax rules and regulations frequently to ensure that I am aware of any changes or revisions that may affect my clients or my work. I also read professional publications and newsletters that keep me up to date on the newest tax rules and regulations.
I also participate in frequent training and continuing education programs to further my understanding of tax rules and regulations. Attending seminars, webinars, workshops, and conferences to remain updated on new developments and obtain a better grasp of tax rules and regulations is part of this.
I try to network with other tax professionals and remain current on best practices and developments in the area. When necessary, I seek guidance and counsel from my colleagues and superiors.
I maintain contact with tax authorities and stay current on any new rules or processes that may impact my clients. I also make it a point to keep my customers up to date on any changes in tax laws or regulations that may affect their company.
23. Can You Provide An Example Of A Successful Presentation Or Report You Have Delivered To A Client?
One example of a successful presentation or report I delivered to a client was when I was working as a consultant for a retail company. The company faced financial difficulties and needed to restructure its operations to improve profitability.
I led a team of consultants that thoroughly analyzed the company’s financials and operations. We identified several areas where the company could make cost savings and improve efficiency.
We then prepared a comprehensive report that outlined our findings and recommendations and presented it to the company’s management team. The information included detailed financial models and forecasts that clearly demonstrated the potential benefits of our proposed changes.
The management team well-received the presentation, and they were impressed by the level of detail and clear explanations of our recommendations. They also appreciated using visual aids like charts and tables that clearly illustrated the financial implications of our proposed changes.
As a result of our report and presentation, the company implemented several of our recommendations, which led to significant cost savings and an improvement in the company’s financial performance.
24. How Do You Approach Continuous Improvement In Your Work?
I establish clear and quantifiable goals for each project I work on. These objectives align with the project’s objectives and the client’s expectations. This helps me track my progress and assess my performance against these goals, allowing me to find areas where I need to improve.
I regularly seek feedback on my performance from my coworkers, bosses, and clients. This input helps help me understand how people view me and identify areas where I need to improve.
I constantly educate myself by attending workshops, seminars, and online courses to expand my knowledge and abilities. I also keep up to date on the newest tools and technology in my profession, as well as industry trends, so that I may bring fresh ideas and best practices to my job.
I constantly evaluate my work and seek opportunities for improvement. This entails assessing my skills and limitations, determining where I can develop, and taking action to correct any flaws.
25. Can You Discuss Your Experience With Audit And Assurance Services?
Yes, I have significant experience with auditing and assurance services. Throughout my professional experience, I’ve worked on various audit and assurance engagements for various customers, including public firms, private enterprises, and non-profit organizations.
My previous expertise includes auditing financial statements, internal control evaluations, and compliance audits. I’ve worked in various retail, healthcare, manufacturing, and transportation businesses.
A financial statement audit for a publicly listed retail firm was one of the most remarkable engagements I worked on. I led a team of auditors that reviewed the company’s financial accounts, including income statements, balance sheets, and cash flow statements. I was also responsible for evaluating the company’s internal controls and ensuring compliance with accounting standards. I discovered and reported any major misstatements in the financial statements as part of the engagement. I worked with the firm to execute remedial action.
While working as an assurance consultant for non-profit organizations, I analyzed their financial records, including balance sheets, income statements, and cash flow statements. I also had to ensure that the financial statements were prepared in line with GAAP and the Statements on Standards for Accounting and Review Services (SSARS).
We hope our guide on the top 25 KPMG interview questions and answers has provided you with valuable insights and tips to help you succeed. Remember to focus on your strengths and be honest and authentic in your responses.
KPMG is a fantastic company to work for. With the right preparation, you can join a team of talented professionals who are making a real difference in the world.
Remember to look at KPMG’s website and annual report and be aware of recent business events that affect the company. Doing this can show the interviewer that you are interested and informed about the company you are applying to work for.