Table of Contents
What questions should I ask in an audit interview?
Common questions for internal audit interviews
- Why did you apply for this position?
- Why are internal audits necessary?
- Explain the steps to prepare for and perform an internal audit.
- Can you describe substantive tests?
- What should you do after an internal audit?
- What is ISO 9001:2000?
What do you check in a statutory audit?
Check any expenditure of capital nature charge in revenue expenses. Check whether GST tax input claim on any expenses. Check such input claim in GST return in GSTR 3b. Identify the expenses which are disallowed under Income Tax Act, 1961.
What should I prepare for an audit interview?
How to Shine in Audit Interviews
- Consider your audience.
- Remember that an interview is a two-way road.
- First appearances are important.
- Research the firm.
- Clearly express your interest in the position.
- Thank your interviewer.
What is the limit of statutory audit?
1. For LLP: Statutory audit is applicable if turnover in any financial year exceeds Rs. 40 Lakhs or its contribution exceeds Rs. 25 Lakhs.
What are the questions asked in the interview for auditing?
In the technical round technical knowledge about audit will be tested by asking about Accounting Standards, Latest IFRS and Ind AS application, CARO, Standards on Auditing, Service Tax, vouching a particular income/expense,etc Always keep in mind, the interviewer is not your enemy.
What are the skills of a staff auditor?
Example: “While a staff auditor should have a wide range of abilities, the most important is attention to detail, analysis, organization, and communication. Because missing anything during an audit contradicts the audit’s objective, it’s critical to pay close attention to every detail.
What should you look for in a potential auditor?
The work or accuracy of an auditor may be called into doubt at times. Potential recruits should be able to clarify their responses to inquiries and back up their claims with proof. This question might reveal how the candidate copes under duress. What you should look for in a response:
What is the interviewer looking for in this interview question?
The interviewer is looking for evidence that you understand why the position is important and how the work you do benefits the company, which is the goal of this question. Example: “An internal audit is a study that helps management retain control over the firm. An internal audit’s main responsibilities include: