Day one newsletter for students - July 2009 - Ernst & Young - New Zealand

Welcome to Day one - your Ernst & Young network

Welcome back...and before you know it, it's decision-time for 2010... whether that be your course next year or your career path.

We know the choices are many, so we'll be doing our bit on campus this semester to help answer your questions, during Business Weeks and other student activities. Watch this space!

On the Auckland campus, we're excite to announce our sponsorshiop of the Ernst & Young Commerce Cougars. The cougars are taking part in the University of Auckland inter-faculty rugby tournament competing for the Wilson Whineray trophy, kicking-off their first match against the law team on 15 August at Colin Maiden Park. Follow the team on Facebook.

This month's Wiki quote: "Always listen to experts. They'll tell you what can't be done, and why. Then do it." (Robert A. Heinlein).

See you on campus.

Business update

 Advisory changes

Lately we've been strongly growing our Advisory services to clients. This is the work we do on risk and performance improvement. Risk/ Internal Audit is a popular choice for grads in our graduate programme.

On 1st of July, Advisory was formally launched as a separate service through our global firm. Meaning that we now offer our services through four service lines - Assurance, Advisory, Tax and Transactions. The change will help drive our ambitious growth agenda to build one of the world's greatest advisory businesses.

 Is economic recovery just around the corner?

Not all business have been affected equally by the recession, and for some, there are opportunities from adversity.

Ernst & Young has done a major study of how businesses are surviving the recession and what they are planning to do next. Most businesses globally and in New Zealand believe they are seeing only a temporary change in economic stability, price competition and profitability. In New Zealand, businesses are cautiously optimistic that growth will return as early as 2010. How are businesses positioning to get ahead?  Find out more from our global study.

 Career in focus

Rob McLeod - Managing-Partner of Ernst & Young New Zealand

Rob's career demonstrates just what's possible when you join an accountancy firm! His early achievements opened doors for him in the corporate world at the highest levels.

Rob became Partner in an accounting firm at age 27. He then worked his way up to become CEO of Arthur Andersen. Before joining EY he was a company director for, among others, Telecom, SKYCITY and ANZ National as well as several Maori fishing companies. Since 2003 he's been the Chairman of the Business Roundtable. As well as leading Ernst & Young he is involved 'boots and all' in a number of business groups and Government projects which make him highly respected in the business community. He's currently on the Government's tax review working group and the Capital Markets Development Taskforce, the Maori Economic Development Ministerial Taskforce, the Independent Ministerial Advisory Panel for the Defence Review, and the National Infrastructure Advisory Board.

Rob also has many interests in the Maori sector (he was awarded the Maori Business Leader of the Year in 2006 by the University of Auckland) and is the lead negotiator for Te Haeata, the Ngati PorouTreaty Settlements Committee.

 Rob meets our graduates during their induction to welcome them to the firm. One of his key messages is to 'keep it simple,' and remember that it's the personal commitment of each person, their teamwork and quality service to clients that help us to keep winning in our markets.

   60 seconds with our campus ambassadors

Meet Pritesh Patel, who is studying at Vic for a BCA/BA majoring in Accounting, Commercial Law and Information Systems. Pritesh held an internship with us in Wellington over the summer. 

Q: What attracted you to work at Ernst & Young as an intern? 

First and foremost - the people. Attending the campus careers fair and comedy evening inspired me to work at the firm because the staff members came across as approachable, friendly, and highly motivated to give their best.

Q: What top three interview tips would you give to a candidate going to a recruitment day?

1. Be well prepared: Read up on the firm so you can show, using your own experiences, why you are suitable to work for EY for your desired service line.
2. Be yourself: The interviewers want to get to know you, so be confident, energetic and try to relax. Aim to stay focused on the questions.
3. Make an impression: EY is a professional services firm, so display the traits of a business professional.  Asking questions is an opportunity for you to learn more about and stay current.

Q: What type of work were you doing?

In the Audit Division I was required to work in teams to assist seniors and perform various interim and year-end audit procedures. The work involved gaining an understanding of controls and procedures being performed by the client. I would be required to analyse information and collect sufficient evidence to conduct testing of internal controls to ensure compliance with set mandatory requirements.     

Q: Was it worth giving up your summer holiday to become an intern?

Yes, without a doubt. I discovered how the theories and concepts taught at University are being applied in today's dynamic business environment.  It was an excellent way for me to discover the broad horizon within the accounting industry and to decide whether this is a career path for me. Best of all, the internship allowed me to secure a full-time employment contract after I have finished university. 

In my view

By Katie Woodhouse, Consultant

Katie is a consultant in Tax in our Christchurch office. She has a double degree in law and commerce from Otago, and joined Ernst & Young in 2007.

 Other people told me the most important thing about choosing a firm is the "people". It's important to get the right "fit" because these are the people you will be spending a lot of time with.

Every firm is different however I think EY stands out. EY is a place you can have fun but you will also learn a lot and discover different opportunities. As in any organisation, firm culture is largely driven from the top, and EY has some passionate and driven leaders who mentor and inspire.

EY is a place where you will make many friends and develop your skills and knowledge in a professional environment. As well as the work aspect, we also have a social aspect. Each office has a social club which organises events throughout the year.

I think the quality of students on campus this year was very high. I was impressed that a large number of students had done their homework and came armed with intelligent questions. It's important for students to think carefully about the kind of information they actually want to get from the recruitment events before they come along.

Working in schools - helping others achieve their potential

   Our national mentoring programme for senior secondary students is a great development opportunity for our graduates. It's been running for eight years, with two schools in Auckland, two in Wellington and one in Christchurch.  Each year around 60 students are mentored nationwide .

The programme aims to help students set and achieve goals, build confidence and increase their communication skills, through the support and encouragement of young professionals at Ernst & Young. It's a really fulfilling role for our mentors who can see their students' progress and know they are giving back to the community. If you are a mentor of a person in your family or community, get in touch with us as we have developed training materials that you might find helpful.

 EY no-brainer quiz

Q. Name two types of tax services we offer organisations. 

 Be the first to email us at gradhelp@nz.ey.com with the correct answer and we'll send you out a student gastronomic pack!

Last month's question was How many people worldwide does Ernst & Young employ? 

The answer was 135,000, and Tim Kirkpatrick from Massey (Albany) won a large pack of assorted goodies including some tasty treats!

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 Kind regards
Suzanna Pomeroy

Ernst & Young People Team

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