Diageo case study
Diageo is the world's leading premium drinks business with a collection of international brands including Smirnoff, Johnnie Walker and Guinness. It operates in over 180 countries, generating sales of almost £10 billion a year. While a lot of the work for the annual Diageo Audit is concentrated in the two months of July and August, it involves many hundreds of KPMG employees in approximately 50 offices across our global network of member firms. The assurance work our firms perform continues year-round, and we undertake other specific tasks such as the half-year review results.
With a reporting year that ends on 30 June, the major annual task for KPMG firms takes place in the six to eight weeks following that date, leading up to the year end results announcement in early September. Prior to this the work is planned carefully, taking into account the different requirements of different markets, and the needs of each Diageo office. Our KPMG teams then go out across the world to each significant Diageo office location. The teams each work separately to their own deadlines until, on one set day, each updates the Group audit team with any major issues that need clarifying or resolving. There is always ongoing communication which can help highlight potential problems, allowing senior people from our member firms to resolve any issues.
How the team works
Junior level
"My name is Chris. In Summer 2003, I worked a two-month internship and then joined KPMG in the U.K. in September 2004 having graduated from Cambridge University in theoretical physics. I work on Diageo's required filings in the U.S. As soon as you join the team you are involved in the work and take responsibility for important tasks, in my case assisting in the validation of the press release, which in itself receives an enormous amount of market attention on publication. In my role as a new joiner, it's been a great opportunity to get involved in very important work. You are privy to very confidential information and that immediate level of trust is very satisfying. Yes, there are times it can be mundane or purely administrative, but this is an important part of gaining the required knowledge. There's also the chance to deal with people often 10-20 years your senior, who are very familiar with their work – but you may need to challenge them, or ask for further detail. I've also been involved in liaising with overseas offices, making sure we've received information when we need it. I went to Budapest in Hungary as part of my role with Diageo and this gave me an opportunity not only to work with staff from another member firm, but also to take evenings and weekends to explore the city and surroundings."
Director level
Nick is a Director in Audit. His role for Diageo is to oversee high level issues and senior staff, and to liaise with the Audit committee. He'll personally review all the reporting from the significant markets and manage the working relationship with the client. There is also a fair amount of forward planning, for instance traveling to various Diageo locations, reviewing how emerging markets may affect the Audit strategy, and generally keeping KPMG one step ahead.
Manager level
Matt is a manager in Audit. He'll liaise with the director and take a more hands-on role in preparing the international reporting. Hundreds of thousands of pieces of paper end up as something like a forty page report, and Matt will play a key role in this process. He will be monitoring the work daily, making sure it all happens at the right pace to arrive at final sign-off for the accounts. Another key role will be as first point of contact for any member of staff that encounters a problem.
Building great careers at KPMG
Why people build great careers at KPMG
KPMG values
The KPMG values set out exactly what we stand for and determine the way we behave.
