Axis Bank Audit Assistant Interview Questions and Answers

Q1. What is the major risk associated with the banks.
Ans. 
The major risk associated with banks is credit risk.
• Credit risk is the risk of borrowers defaulting on their loans or not making payments on time.

• Banks face credit risk when lending money to individuals, businesses, or other financial institutions.

• Credit risk can lead to financial losses for banks if borrowers fail to repay their loans.

• Banks use credit analysis and risk management techniques to assess and mitigate cred...read more
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Q2. Process of Audit
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The process of audit involves planning, executing, and reporting on the examination and evaluation of an organization's financial or operational processes.
• Planning phase involves understanding the organization's objectives, risks, and controls.

• Execution phase includes gathering evidence, testing controls, and identifying any issues or discrepancies.

• Reporting phase involves communicating findings, recommendations, and c
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Q1. What have you done in your articleship and it’s related exposure in brief.
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Q2. Behavioural questions
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Q1. Tell me about your experience
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Q2. How you do business audit
Ans. 
I conduct business audits by thoroughly examining financial records, internal controls, and compliance with regulations.
• Reviewing financial statements and transactions for accuracy

• Assessing internal controls to ensure they are effective and efficient

• Evaluating compliance with laws and regulations

• Identifying areas of improvement and making recommendations

• Communicating findings to management and stakeholders
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10 mins. Not hard. You got it.

Q1. What are your qualifications for this role
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Q2. What are you expecting from us.
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Q1. Related to Audit and Banking
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It's mostly on your personality test

Q1. What you have done in your training process which is mentioned in your cv
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Q2. How do you mange your stress?
Ans. 
I manage my stress through a combination of physical activity, relaxation techniques, and time management.
• Engaging in regular exercise helps me relieve stress and clear my mind.

• Practicing relaxation techniques such as deep breathing, meditation, and yoga helps me relax and reduce stress.

• Effective time management allows me to prioritize tasks, set realistic goals, and avoid feeling overwhelmed.

• Taking short breaks during...read more
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Q3. It's mostly about your cv whatever you will write on your cv they are gona ask the same.
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Q4. How incourage someone to agree with you
Ans. 
To encourage someone to agree with you, you can use persuasive communication techniques and provide compelling evidence or examples.
• Use active listening to understand their perspective and address their concerns

• Present logical arguments and facts to support your position

• Share personal experiences or success stories to illustrate the benefits of agreeing with you

• Find common ground or shared goals to create a sense of un...read more
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Q1. What do you know about internal audit?
Ans. 
Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
• Internal audit evaluates the effectiveness of an organization's risk management, control, and governance processes.

• It provides recommendations for improvement and helps organizations achieve their objectives.

• Internal auditors are responsible for assessing the accuracy of financial...read more
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Q2. Why you want to be internal auditor?
Ans. 
I want to be an internal auditor because I have a strong passion for analyzing and improving processes within organizations.
• I enjoy identifying areas of risk and implementing controls to mitigate them.

• I have a keen eye for detail and enjoy conducting thorough investigations.

• I am motivated by the opportunity to contribute to the success and integrity of an organization.

• I have a strong background in accounting and financ...read more
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Q1. Which interview
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Q2. Accounting question banking
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Q3. Auditor question
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Q4. Interview timing
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Q5. Which company Name is
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Q6. Which salary package
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Q7. Timing salary self
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Q1. Questions around technology infrastructure
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Q1. What is STR , what is fatca
Ans. 
STR stands for Suspicious Transaction Report and FATCA stands for Foreign Account Tax Compliance Act.
• STR is a report that financial institutions must file with authorities when they suspect a transaction is related to money laundering or terrorist financing.

• FATCA is a US law that requires foreign financial institutions to report information about accounts held by US taxpayers to the IRS.

• Both STR and FATCA are important...read more
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Q2. What do you mean by money mule accounts
Ans. 
Money mule accounts are bank accounts used by criminals to transfer illegally obtained money, often unknowingly by the account holder.
• Money mule accounts are typically opened by individuals who are recruited by criminals to receive funds from illegal activities.

• The account holder may be unaware that they are participating in illegal activities, believing they are simply helping with a legitimate transaction.

• Criminals u...read more
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Q3. What is fema guidlines
Ans. 
FEMA guidelines refer to the regulations and recommendations set by the Federal Emergency Management Agency to help prepare for and respond to emergencies and disasters.
• FEMA guidelines cover a wide range of topics including disaster preparedness, response, recovery, and mitigation.

• These guidelines provide recommendations for individuals, communities, and organizations to effectively respond to emergencies such as natur...read more
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