KPMG Interview Questions: What You Could Be Asked and How to Answer

Getting an interview at KPMG is a significant milestone in your career journey, especially if you’re looking to work at one of the Big Four accounting firms. However, preparing for such an interview can be overwhelming, particularly when you’re unsure of the types of questions you might face. Whether you’re applying for an entry-level position, an internship, or a managerial role, understanding the types of questions you could be asked and how to answer them is crucial.

This blog will take you through the KPMG interview process and the types of questions that you could be asked. We will cover the typical questions in different categories: behavioral, technical, situational, and general. We will also provide tips on how to prepare for the interview to ensure you stand out as a strong candidate.

The KPMG Interview Process

1. Application and Resume Submission

Before the interview process begins, the first step is submitting your application. You’ll need to apply through KPMG’s online portal, where you will be asked to upload your resume and fill out personal details. In some cases, you might also need to submit a cover letter, particularly if you are applying for a specialized role or a graduate program.

Key Tips:

• Tailor your resume: Make sure your resume highlights your relevant skills, experiences, and academic qualifications. Use keywords from the job description to match your background with the role’s requirements.
• Write a strong cover letter: Your cover letter should showcase your motivation for applying to KPMG, as well as demonstrate your understanding of the company’s values and culture.
• Research the role: Understand the job description thoroughly to ensure you address the specific skills and experiences required.

2. Online Assessments (If Applicable)

After submitting your application, you may be invited to complete online assessments. These assessments are typically used to evaluate your aptitude, personality, and sometimes technical skills.

Types of Assessments:

• Aptitude Tests: These can include numerical reasoning, verbal reasoning, and logical reasoning tests. Numerical tests often involve interpreting data from charts and graphs, whereas verbal reasoning tests assess your ability to understand and interpret written information.
• Personality and Situational Judgment Tests: KPMG uses these tests to assess how well you fit into their company culture and how you would respond to certain work situations. These tests usually measure traits like teamwork, communication, and decision-making.

Key Tips:

• Practice beforehand: Take time to practice aptitude and personality tests. There are many free practice tests available online that can help you prepare.
• Stay calm and focused: These tests are designed to evaluate how you think under pressure. Take your time, but don’t dwell too long on any one question.

3. Phone/Video Screening Interview

If you perform well on the online assessments, you may be contacted by a recruiter for an initial phone or video screening interview. This is often the first opportunity to speak directly with a KPMG representative and discuss your background in more detail.

What to Expect:

• Overview of the Role: The interviewer will typically explain the role in more detail, including the responsibilities and expectations.
• Your Background and Motivation: You will likely be asked about your qualifications, experiences, and why you’re interested in working at KPMG.
• General Fit and Personality Questions: The recruiter will assess your cultural fit for the company and the specific team you’re applying to.

Key Tips:

• Be clear and concise: Recruiters appreciate candidates who can clearly explain their experience and why they’re interested in the role.
• Show enthusiasm: Express genuine interest in the company and the position, and demonstrate that you’ve researched KPMG’s values and culture.
• Prepare for competency-based questions: You may be asked to provide examples of past experiences where you’ve demonstrated key competencies, such as problem-solving, teamwork, and leadership.

4. Assessment Center (For Graduate and Internship Roles)

For graduate programs and some internship positions, KPMG hosts an assessment center, where multiple candidates are invited to participate in group exercises, case studies, and individual interviews. The assessment center is designed to assess how you work in a group and your ability to solve complex problems under time constraints.

What to Expect:

• Group Exercises: You will be placed in a group with other candidates and asked to work together to solve a business-related task. You will need to demonstrate leadership, communication, and teamwork skills.
• Case Study: You may be given a case study to analyze and discuss with your group or present individually. This will test your problem-solving and analytical abilities, as well as your ability to communicate clearly and effectively.
• Interviews: In some cases, you may have an individual interview during the assessment center to further evaluate your background, motivations, and fit for the role.

Key Tips:

• Work well in teams: Focus on collaborating with your peers during group exercises. Listen to others’ ideas, share your thoughts, and work toward a solution together.
• Manage your time: Many exercises are time-sensitive, so make sure you stay on track and complete tasks within the allotted time.
• Show your problem-solving skills: During case studies, clearly outline your thought process, and present structured, logical solutions.
• Be professional: Even though the assessment center may feel like a more informal setting, always maintain a professional demeanor and attitude.

5. Final Interview

The final stage of the KPMG interview process typically involves a face-to-face or virtual interview with senior members of the team. This interview will be more in-depth, allowing you to showcase both your technical knowledge and your personal qualities.

What to Expect:

• Technical Questions: Depending on the role, you may be asked specific technical questions to assess your knowledge of accounting principles, finance, auditing, or other relevant areas. This is particularly true for roles that involve direct client work or require specific technical skills.
• Behavioral Questions: Expect questions designed to assess your past behavior and how you approach challenges. You may be asked to provide examples using the STAR method (Situation, Task, Action, Result).
• Cultural Fit: The interviewer will want to ensure that you align with KPMG’s values and culture. They may ask about your motivations and how you handle workplace challenges.

Key Tips:

• Be prepared to discuss your technical knowledge: Review core concepts and be ready to explain them clearly and confidently.
• Be honest and authentic: Senior interviewers are often assessing your personality and how well you fit within the company’s culture. Be true to yourself.
• Ask thoughtful questions: Towards the end of the interview, you may be given the opportunity to ask questions. Be prepared with insightful questions about KPMG’s work culture, future opportunities, and challenges in the industry.

6. Offer and Onboarding

If you successfully pass the final interview stage, you’ll receive a job offer from KPMG. The offer may be contingent upon passing background checks, references, and any required certifications.

What to Expect:

• Job Offer: You will receive a formal offer letter outlining your compensation, benefits, and job responsibilities.
• Onboarding: Once you accept the offer, KPMG will begin the onboarding process, which may include orientation, training, and familiarizing yourself with the company’s culture and policies.

Behavioral Interview Questions

Behavioral interview questions are designed to assess how you have handled situations in the past. KPMG uses these questions to understand how you approach problems, work with others, and respond to challenges. These questions often follow the STAR method, which stands for Situation, Task, Action, Result. This method ensures that your answers are structured and concise.

Here are some common behavioral questions you may encounter in a KPMG interview:

1. Tell me about a time when you had to overcome a difficult challenge at work or school.

• What they’re looking for: Your ability to handle challenges and obstacles effectively.
• How to answer: Use the STAR method (Situation, Task, Action, Result) to describe the challenge, what you needed to accomplish, the steps you took to solve it, and the outcome. Focus on how you stayed calm, focused, and proactive in resolving the issue.

2. Describe a situation where you had to work with a team to achieve a goal. What was your role, and how did you contribute?

• What they’re looking for: Teamwork and collaboration skills.
• How to answer: Highlight your role in the team and emphasize how you contributed to achieving the team’s goal. Discuss your communication, leadership, or support in the process, especially if you helped to resolve conflicts or kept the team motivated.

3. Tell me about a time when you had to manage competing priorities. How did you ensure everything got done?

• What they’re looking for: Time management and organizational skills.
• How to answer: Share an example where you had multiple tasks or deadlines, and describe how you prioritized and managed your time. Mention any tools or strategies you used, such as creating a to-do list or using project management software, and explain the positive outcome.

4. Can you give an example of when you disagreed with a colleague or supervisor? How did you handle the situation?

• What they’re looking for: Conflict resolution and professionalism.
• How to answer: Focus on how you handled the disagreement constructively and professionally. Explain how you communicated your perspective and listened to the other person’s view, and how you worked together to find a resolution or compromise.

5. Describe a time when you had to learn something new quickly. How did you approach it?

• What they’re looking for: Adaptability and learning agility.
• How to answer: Share a specific situation where you were required to pick up a new skill or knowledge quickly. Explain how you approached the learning process, what resources you used, and how you successfully applied what you learned.

6. Tell me about a time when you went above and beyond to help a client or customer.

• What they’re looking for: Customer service and initiative.
• How to answer: Use an example that shows how you exceeded expectations or provided exceptional service. Emphasize your proactive approach and how you understood the client’s needs, delivering results that went beyond what was required.

7. Can you describe a situation where you had to handle a tight deadline? How did you manage your workload?

• What they’re looking for: Ability to work under pressure and time management.
• How to answer: Share an example where you managed tight deadlines, explaining how you organized your tasks, communicated with others, and ensured that you met the deadline without sacrificing quality.

8. Give an example of a time when you worked with people from diverse backgrounds. How did you ensure effective communication?

• What they’re looking for: Interpersonal skills and inclusivity.
• How to answer: Discuss a time when you worked with a diverse group and explain how you ensured everyone’s voice was heard. Highlight your approach to respecting different perspectives and fostering a collaborative environment.

Technical Interview Questions

For roles involving accounting, auditing, or consulting, you can expect technical questions that assess your expertise in relevant areas. These questions will focus on your knowledge of financial concepts, accounting principles, regulations, and industry-specific tools.

Here are some common technical questions that KPMG may ask:

1. What is the difference between IFRS and GAAP? How do these differences impact global financial reporting?

• What they’re looking for: Knowledge of accounting standards and their implications.
• How to answer: Discuss the key differences between International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), such as how IFRS is principles-based and more flexible, whereas GAAP is rules-based. Focus on how these differences impact multinational companies that report financial statements across different jurisdictions.

2. Can you explain the concept of ‘materiality’ in auditing?

• What they’re looking for: Understanding of auditing principles.
• How to answer: Materiality refers to the significance of an amount, transaction, or discrepancy in financial statements. It’s used by auditors to determine whether an error or omission in financial reporting would influence the decision-making of a reasonable user of those statements. Explain how auditors assess materiality based on factors like the size of the error, the nature of the item, and the context of the financial statements.

3. How do you perform a risk assessment in an audit?

• What they’re looking for: Knowledge of auditing processes.
• How to answer: Explain the steps in a typical risk assessment for an audit, such as understanding the client’s business environment, identifying potential risks, evaluating internal controls, and determining the appropriate level of testing. Mention the importance of assessing inherent risks, control risks, and detection risks in relation to the overall audit strategy.

4. What is the difference between a balance sheet and an income statement?

• What they’re looking for: Basic financial statement knowledge.
• How to answer: A balance sheet shows the financial position of a company at a specific point in time, listing its assets, liabilities, and shareholders’ equity. An income statement (or profit and loss statement) shows the company’s performance over a period of time, detailing its revenues, expenses, and profits or losses. Mention how both are interconnected but serve different purposes in financial analysis.

5. What are deferred tax assets and liabilities, and why are they important?

• What they’re looking for: Understanding of tax accounting.
• How to answer: Deferred tax assets arise when a company has paid more taxes than it owes, leading to a future tax benefit (e.g., carry-forward tax losses). Deferred tax liabilities arise when a company’s financial reporting income is higher than taxable income, leading to future tax obligations. Explain the importance of these concepts for accurate financial reporting and tax planning.

6. Can you explain what a cash flow statement is and why it is important?

• What they’re looking for: Understanding of cash flow and its role in financial reporting.
• How to answer: A cash flow statement shows how cash moves in and out of a company over a specific period, broken into three categories: operating activities, investing activities, and financing activities. Explain how this statement helps stakeholders assess the liquidity, solvency, and financial flexibility of the company, complementing the balance sheet and income statement.

7. What is an internal control system, and how does it impact the audit process?

• What they’re looking for: Knowledge of auditing practices and internal controls.
• How to answer: An internal control system includes policies and procedures designed to ensure the accuracy and reliability of financial reporting, safeguard assets, and comply with laws and regulations. Explain how auditors assess the effectiveness of internal controls, and how weaknesses in these controls can affect the audit risk and the level of substantive testing required.

8. What is the role of a valuation allowance in deferred tax accounting?

• What they’re looking for: Knowledge of tax-related accounting principles.
• How to answer: A valuation allowance is a reserve that a company establishes against its deferred tax assets, particularly if it believes it is unlikely to realize the full benefit of these assets in the future. For example, if a company has significant tax losses but there is uncertainty about future profitability, it may establish a valuation allowance to reduce the carrying amount of the deferred tax asset.

9. What is a financial audit, and how does it differ from an internal audit?

• What they’re looking for: Understanding of different types of audits.
• How to answer: A financial audit is an independent examination of a company’s financial statements and related records to ensure they are accurate and compliant with accounting standards. In contrast, an internal audit focuses on evaluating and improving a company’s internal controls, risk management, and governance processes. The main difference is that financial audits are usually external and focus on financial accuracy, while internal audits are often conducted by in-house auditors and focus on operational effectiveness.

10. How would you assess the value of a company using the Discounted Cash Flow (DCF) method?

• What they’re looking for: Understanding of valuation techniques.
• How to answer: The DCF method involves estimating a company’s future cash flows and discounting them back to the present value using an appropriate discount rate, typically the company’s weighted average cost of capital (WACC). Explain the importance of estimating accurate future cash flows, selecting the correct discount rate, and understanding that this method is sensitive to assumptions made about the company’s future performance.

11. What is the difference between an audit opinion and an audit report?

• What they’re looking for: Understanding of audit documentation and conclusions.
• How to answer: An audit report is a formal document issued by an auditor that outlines the scope, findings, and conclusions of an audit. The audit opinion is a specific section of the audit report where the auditor expresses their opinion on the fairness of the financial statements. For example, an unqualified opinion means the financial statements are fairly presented, while a qualified opinion or disclaimer indicates concerns or limitations in the audit.

12. How do you assess the appropriateness of a company’s revenue recognition policy?

• What they’re looking for: Knowledge of revenue recognition standards and critical thinking.
• How to answer: Discuss how you would evaluate a company’s revenue recognition policy by reviewing relevant accounting standards (such as IFRS 15 or ASC 606). Focus on ensuring that revenue is recognized in the period it is earned and that the policy is consistent with the company’s contracts, industry practices, and regulatory requirements. Be sure to address how any irregularities might affect financial reporting and audit outcomes.

13. Explain how you would use ratio analysis to assess a company’s financial health.

• What they’re looking for: Financial analysis and analytical thinking.
• How to answer: Ratio analysis involves evaluating financial performance using key financial ratios such as liquidity ratios (e.g., current ratio), profitability ratios (e.g., return on equity), and leverage ratios (e.g., debt-to-equity). Explain how each ratio provides insights into different aspects of a company’s financial health, such as its ability to meet short-term obligations, generate profits, and manage debt.

14. What is a fair value measurement, and how is it applied in accounting?

• What they’re looking for: Understanding of fair value and its application.
• How to answer: Fair value refers to the price at which an asset could be bought or sold in an arm’s length transaction between willing parties. Fair value measurement is required under certain accounting standards, such as IFRS 13 and ASC 820, to determine the value of assets and liabilities in situations where market prices are not readily available. You might also discuss the hierarchy of fair value measurement, including Level 1 (quoted prices in active markets), Level 2 (observable inputs), and Level 3 (unobservable inputs).

15. Can you explain the concept of ‘impairment’ in accounting, and how it affects financial statements?

• What they’re looking for: Knowledge of asset valuation and financial reporting.
• How to answer: Impairment occurs when the carrying value of an asset exceeds its recoverable amount. This could happen due to changes in market conditions or other factors that decrease the asset’s future value. When an asset is impaired, its carrying amount is adjusted downwards to reflect the impairment, and an impairment loss is recognized on the income statement. Discuss how impairment affects both the balance sheet (by reducing the asset’s value) and the income statement (by recognizing a loss).

Situational Interview Questions

Situational interview questions assess how you would handle hypothetical situations in the workplace. These questions are designed to evaluate your problem-solving and decision-making skills. KPMG may ask you situational questions that focus on your adaptability, leadership potential, and approach to client management.

Here are some examples of situational questions you may encounter:

1. Imagine you are assigned to a client who is very resistant to change. How would you approach the situation to ensure a smooth project?

Tip: This question tests your adaptability and client management skills. Talk about how you would build rapport with the client, understand their concerns, and present changes in a way that highlights the benefits for them. Emphasize your communication and relationship-building skills.

2. Suppose you’re given a project with tight deadlines, and your team is facing some challenges. How would you ensure the project is completed on time?

Tip: Demonstrate your leadership skills by discussing how you would motivate your team, delegate tasks effectively, and resolve any issues that arise. Show that you can remain calm under pressure and are able to adjust plans if necessary.

3. You are working on an audit, and you discover discrepancies in the financial statements. What steps would you take to investigate and resolve the issue?

Tip: KPMG needs auditors who can handle sensitive situations with integrity. Focus on how you would follow the appropriate channels, communicate with relevant parties, and ensure that any errors are addressed in accordance with regulations and professional standards.

 General Interview Questions

In addition to the technical, situational, and behavioral questions, you’ll also encounter general questions aimed at gauging your motivation, understanding of KPMG, and cultural fit.

1.Why do you want to work for KPMG?

Tip: KPMG is looking for candidates who are genuinely interested in the firm and its work. Research the company, its values, and its services, and connect them with your personal goals. For example, you might mention the firm’s global reach, its commitment to innovation, or its focus on professional development.

2. What are your long-term career goals, and how does KPMG fit into those plans?

Tip: KPMG is looking for individuals who are eager to grow within the company. Show that you’ve thought about your career progression and that you see KPMG as a place where you can develop your skills and contribute to the firm’s success.

3. How do you stay updated on industry trends and changes in regulations?

Tip: In the fast-paced world of accounting and consulting, staying updated is crucial. Talk about your methods for keeping informed, such as attending webinars, reading industry publications, or networking with peers.

4. What are your strengths and weaknesses?

Tip: This is a classic interview question. Focus on strengths that are relevant to the role, such as problem-solving, communication, or analytical skills. When discussing weaknesses, choose something that you’re actively working to improve, demonstrating self-awareness and a commitment to growth.

 Tips for Preparing for the KPMG Interview

To excel in your KPMG interview, preparation is key. Here are some tips to help you get ready:

• Research KPMG: Understand the company’s values, mission, and services. Be prepared to explain why you want to work for KPMG specifically.
• Review your resume: Be prepared to discuss everything on your resume, especially key projects and experiences. Highlight your achievements and how they align with the role you’re applying for.
• Practice answers: Use the STAR method to structure your responses to behavioral questions. Practice common interview questions with a friend or in front of the mirror.
• Prepare questions: At the end of the interview, you’ll likely have a chance to ask questions. Prepare thoughtful questions about the company’s culture, growth opportunities, or specific projects you might be working on.
• Dress appropriately: KPMG is a professional services firm, so dress in business attire. It’s important to make a good first impression.

Conclusion

The KPMG interview is an opportunity to showcase your skills, experiences, and alignment with the firm’s values. By understanding the types of questions you may be asked and preparing thoughtful, structured answers, you can increase your chances of success. Remember to stay calm, confident, and focused throughout the interview process. Good luck!

You should also consider practicing logical reasoning and estimation techniques. To learn more, check out our blog on Most Common Guesstimate Interview Questions & Answers .

FREQUENTLY ASKED QUESTIONS (FAQs)

1. What types of questions are asked in a KPMG interview?

KPMG interviews typically include a mix of behavioral, technical, and situational questions. Expect questions that assess your problem-solving, teamwork, and technical knowledge, as well as your understanding of KPMG’s culture and values.

2. How should I prepare for KPMG behavioral questions?

For behavioral questions, use the STAR method (Situation, Task, Action, Result) to structure your answers. Be specific about past experiences where you demonstrated skills like leadership, teamwork, or problem-solving, and show how those experiences are relevant to the role you’re applying for.

3. What technical knowledge is important for a KPMG interview?

Depending on the role, you should be well-versed in technical concepts such as IFRS, GAAP, auditing standards, tax laws, or financial analysis. Review industry-specific knowledge related to the role you’re interviewing for, such as accounting principles or financial modeling techniques.

4. How can I stand out in a KPMG interview?

To stand out, demonstrate both technical expertise and strong interpersonal skills. Show enthusiasm for KPMG’s work culture and mission. Be clear, concise, and confident in your responses, and highlight how your skills and experiences align with the company’s values and the role.

5. What is the KPMG culture like, and how can I align with it?

KPMG values collaboration, innovation, and integrity. Show that you can work well in diverse teams, adapt to changing situations, and prioritize client needs. Emphasize your alignment with KPMG’s values, particularly around professional ethics, responsibility, and continuous improvement.

6. How should I answer questions about handling stress or pressure?

When asked about handling stress, provide an example where you successfully managed a high-pressure situation. Focus on how you prioritized tasks, remained calm, and delivered results. Highlight any tools or strategies you use to stay organized and maintain productivity under stress.

7. What are common questions about teamwork in a KPMG interview?

Expect questions like, “Tell me about a time you worked in a team to meet a deadline.” Focus on how you contributed to team success, handled conflicts, and collaborated effectively with diverse team members. Highlight communication and adaptability as key strengths.

8. How do I prepare for technical questions related to accounting or finance?

Brush up on accounting principles (IFRS, GAAP), financial analysis, and auditing techniques. Understand key concepts like revenue recognition, deferred tax, and financial statement analysis. Be ready to explain your thought process and apply concepts to real-world scenarios during the interview.

9. What is the best way to answer “Why KPMG?”

To answer “Why KPMG?”, research the company’s culture, values, and services. Highlight KPMG’s commitment to diversity, innovation, and global reach. Discuss how your skills and values align with their mission and explain why you’re excited about contributing to their success.

10. How do I answer questions about my future career goals?

When discussing your career goals, express your long-term interest in growing with KPMG. Mention aspirations like developing specific technical skills, taking on leadership responsibilities, or working across various client sectors. Show how KPMG’s resources and opportunities align with your career trajectory.