Articles at the “Big 4 accounting firms” are every aspiring CA student’s dream.But how does one find an internship opportunity at a big accounting firm in India?
- In fact, in today’s article, we have Dhruv Agarwal, who did his articles with KPMG, sharing with us how he applied for his articles at KPMG, what the interview process was like, what study leave you get, etc.
- Dhruv has done his articles for KPMG, Delhi, in the Audit Department.
- So let’s get started.
My CA Journey
I always had a great love for numbers as a kid. Also, since my father is a chartered accountant, he did have a positive influence on my career choice.
To be a Chartered Accountant from the ICAI, one needs to clear three levels of exams:
CPT: First level. You have to give this exam if you register for the CA course before graduating. I registered for CPT after class 12.
IPCC: Second-level exam This consists of two groups: Groups 1 and 2.
CA Final: This is the final level of the CA exam, with two groups—Groups 1 and 2.
3 years of article training: This starts after you clear the IPCC, either both groups or any of them.
2016 CPT. After clearing Class 12, I appeared for the CPT (1st level CA Exam) in June 2016 and cleared it in the first attempt.
My CA IPCC Journey, First Attempt: Around the same time, my dad got a transfer to Delhi, and we all shifted along with him. I prepared for my IPCC (2nd level CA exam consisting of 2 groups, Group 1 and Group 2) from Delhi and appeared for both groups in May 2017.
Somewhere deep down inside, I knew I’d pass, maybe not with flying colors, but I was hoping for an average score on the IPCC!Unfortunately, I passed CA IPCC Group 1, scoring 60 or more in all the papers, and in CA IPCC Group 2, I scored 60 or more in advanced accounting but failed in one subject (ITSM).
So definitely, I was upset with myself as I knew the reason for my failure. I blamed myself as I did not focus on ITSM as much as on other subjects. Now, because I scored 60 or higher in all Advanced Accounting papers except ITSM and Audit (I did not score 60 in Audit, so no exemption), I was exempted from taking Advanced Accounting, which meant I only had to sit for two papers: ITSM and Audit…which made me feel better!
Note: If a student fails but scores 60 or higher in any subject, he is exempt from appearing in those papers in which he scored 60 or higher and must only appear in those in which he failed or scored less than 60.
CA IPCC Second Attempt Nov’17: Somehow, I tried to cope with my failure and start studying but couldn’t focus. It took me a while to recover from this failure because I felt I was so close to success and could pass on the first try.I have been a very meritorious student all my school life, and this was my first academic failure, so dealing with it was new to me.
It was October 2017, and I was just one month away from my CA IPCC Nov’17 attempt when I accepted the reality and realised that I needed to keep going. I now had two problems: inability to focus and a lack of time. However, what kept me going was that I did not want to fail again.
So I gave my best in that one month and focused again. This time I cleared my CA IPCC exams.
My articleship journey
As for my articles’ journey, as I had cleared CA IPCC Group 1, I could have easily started with my articles. (Earlier articles could be started once he/she has cleared IPCC Groups 1 and 2 or just IPCC Group 1).However, recently the ICAI has announced that anyone can start with their articles once they clear both groups (or just Group 1 or Group 2). However, I wanted to work for the Big 4, so I waited to clear the IPCC exams.
From my research, I knew the Big 4 prefer candidates who have cleared both groups, the reason being “study leave.” If they take interns who have cleared only Group 1, then they would have to again give them study leave for their CA IPCC Group 2, so to avoid such situations, they prefer (there are always exceptions) students who have cleared both groups.
Luckily, I was selected by KPMG, Delhi, in the Audit Department and started my articleship with them. I chose KPMG over other Big 4 firms (even though other Big 4 firms are great; I am just stating my reason here!) as I got very positive feedback about the environment from a few senior friends at KPMG. They all said KPMG is a great learning place, and at this stage of my life, learning in a nice environment was my only motive.
Yes, I appeared for interviews at other Big 4 firms and even got an offer from one of them, but after considering the above point, I chose KPMG.
What stops us from applying to the Big 4 accounting firms?
You need connections to get into a Big 4 firm: This is one of the biggest myths that keeps us from applying to big accounting firms. You can just go to any website where one has to apply and apply, or if you have a friend working there, just send it across and they will do the needful!
only the first attempt IPCC students or IPCC rank holders can join a Big 4 accounting firm: Well, I have to tell you—that is not true! I am a simple example. I failed the IPCC on my second attempt, but I passed KPMG. So, even if this is your second, third, or fourth attempt, you can still apply.
“What is the recruitment process for articles at KPMG, India?”
1. An online test
- First, you take an online test using the link provided, and then you are invited to a GD round at the KPMG office.
- The online test is more inclined towards assessing the general aptitude and awareness of the subjects.
- You can find various papers on the internet that will give you a brief overview of the pattern.
- The test can be taken via the link provided in the mail.
2. A group discussion (GD) round
- In the GD round, out of around 10 candidates, 4 to 5 are selected for the next round on the basis of their performance (this is what happened in my situation, but it surely could differ!).
- The topic of GDP is generally a common one, ranging from GST to social media, etc. It may vary from a general topic gaining popularity at that point in time to high school topics.
3. An HR round
- HR mainly discusses your personal and educational details.
- This is more of a conversation than an interview
- HR tries to understand your expectations and the firm’s expectations.
4. The partner round
- The partner round is basically a “technical round,” and you can expect questions relating to Accounting Standards (AS), AS, etc.
- They expect you to have basic knowledge of the AS, etc.
- The questions are based mostly on the CA IPCC portion and are easy to answer if you have your basics in place.
“What should I wear for an interview?”
- As far as the attire is concerned, I would prefer if one could present themselves in complete formal attire (talking about boys here!).
- This really works well, and it also helps the team see you as a future team member, which definitely increases your chances of being selected.
I wore a complete business suit. It gave me so much confidence.
“What is the working environment at KPMG?” “Will I get study leave?”
- My first day (12 March 2018) as an article at KPMG, Delhi: I was not sure what to expect on the first day, so I was definitely a little nervous, but as taught in our profession, I couldn’t let it take over me and worked on appearing all cool and calm! However, my first day was all about training and formalities, etc., and on my second day itself, I got allocated to a client’s place in Noida.
- This transition from school life to corporate life is quite exciting and, at the same time, challenging. It’s better you experience it yourself; my only advice would be to be aware of what’s happening around you, and this quality would help you a lot.
- It has been only a few months since I joined KPMG, and I know I have a long way to go, but still, since I joined, I have learned a lot of things, and I can see this journey being a very learning and exciting one.
- To be honest, when one joins a big organization, we all have aspirations to learn everything in one day; even I had the same. In the beginning, when I joined, I was given very basic work, which I did not expect as I felt I could handle more complex stuff. But gradually I understood that I needed to learn the basics first before moving upward. The basic work that was allotted to me helped me understand the basis of the audit techniques and procedures.
- Talking about the working environment, well, I can’t say about other “big four” firms, but at KPMG you will enjoy working to the fullest. The people here and the environment as a whole are very accepting; one won’t have any issues adapting to them.
- About study leave, KPMG gives the maximum number of leaves, which is good enough for anyone to prepare for the CA Final or for any other college exam. My suggestion is: If you want any study or recreational leave, plan ahead, inform your seniors, and get it approved.
- For instance, April to June is the busy season for an audit professional. I had my B.Com. (H) exams in May 2018 and still got enough study leave and a lot of support from my manager and colleagues to prepare for my exams. So, I would say study leave is not an issue when working in the Big 4, as they all have an amazing intern policy.
Articles in KPMG join as Staff Accountants, and the levels are SA-1, SA-2, and SA-3. In the Big Four, the stipend varies by firm, ranging from $8,500 to $15,000 in the first year.
“What are the drawbacks of working at a Big 4 accounting firm?”
- Well, if you really want to learn and develop as a professional, you need to put in a lot of hard work. One has to be prepared to work long hours under strict deadlines.
- What they expect from you is “quality,” and especially at KPMG, the focus is on quality, so to deliver that high standard of quality, you’ve got to work hard.
- Sometimes you might feel frustrated about the long working hours and deadlines, but that’s what helps you transform, and it is all good for you in the long run. But it is not like you have to work late every day; there are days you get free at 5 PM, and there are days when you will have to sit back till 1 AM also! However, I usually finish work around 7:30 p.m. So, for a dedicated individual, this should not be a big problem!
- Also, some people have this issue with the limited range of experience they provide. That means many feel that they get stuck in audit for 3 years. However, in those three years, they provide you with ample exposure in a variety of sectors!
- KPMG, in particular, offers a variety of training to help you keep up with the latest professional developments and to groom you as a professional.
- Finally, YOUR CAREER IS DEPENDENT ON YOUR DECISIONS. You select the firm and the profile based on where you want to be in three years.
