B S R & Co Llp Audit and Assurance Executive Interview Questions and Answers

Good aptitude accounting and audit concepts are covered

Objective questions including math, language and higher order thinking

Q1. What makes audit interesting to you
Ans. 
I find audit interesting because it allows me to gain a deep understanding of a company's operations and financial health.
• I enjoy the challenge of analyzing complex financial data and identifying areas for improvement

• I appreciate the opportunity to work with a variety of clients and industries, constantly learning and adapting to new situations

• I find satisfaction in helping clients improve their financial processes and...read more
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Q2. What you know about audit
Ans. 
Audit is a systematic and independent examination of financial statements, records, operations, and performance of an organization.
• Audit is conducted to provide an opinion on the financial statements of an organization.

• It involves examining the financial records, transactions, and internal controls of an organization.

• The objective of an audit is to ensure that the financial statements are free from material misstatemen...read more
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Q1. What is auditing and assurance
Ans. 
Auditing and assurance are processes that ensure the accuracy and reliability of financial information.
• Auditing involves examining financial records and statements to ensure they are accurate and comply with accounting standards.

• Assurance involves providing an independent opinion on the accuracy and reliability of financial information.

• Both auditing and assurance are important for maintaining the integrity of financial...read more
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Q2. What is performance materiality
Ans. 
Performance materiality is the amount set by the auditor at less than materiality for the financial statements as a whole.
• It is the amount set by the auditor for the financial statements as a whole

• It is set at less than materiality

• It is used to reduce the risk of material misstatement

• It is used to determine the nature, timing, and extent of audit procedures

• Example: If materiality is $100,000, performance materiality ma
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Q3. What are the important areas you will audit for a banking industry
Ans. 
Important areas to audit in banking industry
• Compliance with regulatory requirements

• Risk management practices

• Internal controls and governance

• Financial reporting accuracy

• Cybersecurity measures

• Customer data protection

• Anti-money laundering measures
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Quant, Reasoning, Email Writing

Q1. Tell me about yourself
Ans. 
I am a detail-oriented individual with a strong background in accounting and auditing.
• Graduated with a degree in Accounting

• Completed internships at accounting firms

• Proficient in financial analysis and reporting

• Strong attention to detail and analytical skills
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Q2. What you like doing in your free time?
Ans. 
I enjoy reading, hiking, and trying out new recipes in my free time.
• Reading books from various genres

• Hiking in local trails and exploring nature

• Experimenting with cooking and baking new dishes
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Q3. You said you like reading, what was the current book that you are reading?
Ans. 
I am currently reading 'The Silent Patient' by Alex Michaelides.
• Psychological thriller novel

• Focuses on a woman who stops speaking after a traumatic event

• Explores themes of mental health and deception
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Q1. Cash Flow Questions
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Q2. Basic Accounting Questions
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