Presentation  of Traineeship with  KPMG Luxembourg–       15.01.2012-30.06.2012Natalie Witzmann02.07.2012
Agenda             1. KPMG                          1.1 KPMG Global                          1.2 KPMG Luxembourg          ...
1. KPMGHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a m...
1. KPMG 1.1 KPMG Global         Consists of legally independent firms in 152         countries in all over the world     ...
1. KPMG 1.1 KPMG Luxembourg                                                                                               ...
2.                Activities TrainingsHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. Al...
2.            Activities      five different engagements in five different teams      Interim audit, final audit, merger...
2.                 Activities                                                                                             ...
3. Experiences  Great professional but also personal        experience Learned from expertise about audit, the daily  ro...
4. Summary Personal experience: Professional experience:Hello KPMG Luxembourg S.à r.l., a Luxembourg private limited compa...
5. Role Play Situation:   The manager of your current job (and also the one responsible for two other jobs you are planned...
Thank you    for   yourattention!
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Internship at KPMG Luxembourg

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  • Provides audit tax and advisory services
  • 2. Short: KPMG International, a swiss entity
  • Audit evidence, professional judgement, documentation, even referencing, audit risk, Funds Training: Be familiar with of the Investment Funds industry in Luxembourg (introduction to the concepts, advantages and disadvantages, legal environment, types of funds, importance of funds industry in Luxembourg, etc); Have a general overview of the Investment Funds legal framework; Be familiar with the various types of investments that can be found in a fund (what do they represent, what are the rights attached/obligations and a brief explanation of how they are valued); Be familiar with the different service providers of investment funds + accounting cycles for significant accounts of investment funds (subscriptions, redemptions, purchases & sales); Be familiar with the different kind of Management Company for Investment Funds; Have an understanding of CSSF Circular 2002/77 & CSSF Circular 2002/81 (LFR); Have a general understanding of investment restrictions; Understand the audit risks related to the main derivatives; Be familiar with the valuation of derivatives; Set up Analytical review of NAV/shares of investment Funds; Use basics functions of Bloomberg; Review Financial Statements of Investment Funds; Audit Financial Statements captions of Investment Funds;
  • Although you are assigned to work in the funds audit group, your performance manager offers you at the beginning of the internship to look for an opportunity to get an insight into the banks audit. You are happy to get this offer and agree. After 3 months, the manager of your current job...
  • Internship at KPMG Luxembourg

    1. 1. Presentation of Traineeship with KPMG Luxembourg– 15.01.2012-30.06.2012Natalie Witzmann02.07.2012
    2. 2. Agenda 1. KPMG 1.1 KPMG Global 1.2 KPMG Luxembourg 2. Activities/ Inside Work 3. Experiences 4. Summary 5. Role PlayHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 2
    3. 3. 1. KPMGHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 3
    4. 4. 1. KPMG 1.1 KPMG Global Consists of legally independent firms in 152 countries in all over the world  Leadership: KPMG International Cooperative 145.000 employees in all member firms  more than 7.900 partners 22.7 billion US$ for the financial year 2011 KPMG ranks Second among “World’s Most Attractive Employers” for second year runningHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 4
    5. 5. 1. KPMG 1.1 KPMG Luxembourg I  In Luxembourg KPMG has more than 1000 employees in 3 locations  KPMG Luxembourg closed the financial year ending September 2011 with revenues of €122 million  part of KPMG Europe LLP part of the largest integrated accounting firm in Europe.Hello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 5
    6. 6. 2. Activities TrainingsHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 6
    7. 7. 2. Activities  five different engagements in five different teams  Interim audit, final audit, merger audit  preparation of working papers and performance of audit tests  Working with e-audit, Bloomberg, CVT, etc.  Crosscheck the F/S, check the explanation report/ notes of the F/S, orthography, check agreements with prospect, etc... Preparation of Custodian Confirmation, TA ConfirmationHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 7
    8. 8. 2. Activities Dividend Income Activities on Funds Fund Performance Purchase and Sales tests NAV/share Cash Reconciliation Change in unrealized result on portfolio and derivatives Management Fee Analytical Review NAVHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 8
    9. 9. 3. Experiences  Great professional but also personal experience Learned from expertise about audit, the daily role of an auditor and the Luxembourg Funds industry Improvement of accounting skills Improvement of excel skills Challenge to work with people of different countries (and cultures) It was a successful possibility to get an overview of audit and audit proceduresHello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 9
    10. 10. 4. Summary Personal experience: Professional experience:Hello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 10
    11. 11. 5. Role Play Situation: The manager of your current job (and also the one responsible for two other jobs you are planned for) warns you that your performance manager is going to offer you a job in the banks section which is most probably going to be very boring and that you should better not take that offer. A day later the performance manager (not knowing you got warned before by the manager) who knew you have been interested in seeing different areas, calls you into her office to talk about the new job. The manager of the new job is also present as the two of them share an office. You answer that the job sounds interesting as you don´t want to cause bad blood by telling about your manager´s warning. So you say you are going to talk to him first. A few hours later you happen to be in a office with all 3 managers discussing about what´s best for you. Now they want your decision but you don´t want to be disrespectful for the effort they have done. Task: You have to tell them why you actually don´t want to take the offer without revealing your managers warning. Actors: The intern and the performance manager with the other managers just listening.Hello KPMG Luxembourg S.à r.l., a Luxembourg private limited company, is aentity. All rightsKPMG Europe LLP and a member of the KPMG network of independent member firms © 2011 affiliated with KPMG International Cooperative (“KPMG International”), a Swiss subsidiary of reserved. 11 ^
    12. 12. Thank you for yourattention!

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