Bank of Baroda Concurrent Auditor Interview Questions and Answers

There are three types of audits: internal, external, and government.

• Internal audits are conducted by the organization's own employees to evaluate internal controls and processes.

• External audits are conducted by independent auditors to provide an objective assessment of the organization's financial statements.

• Government audits are conducted by government agencies to ensure compliance with laws and regulations.

• Other type...read more

Types of loans include secured, unsecured, personal, business, student, and payday loans.

• Secured loans require collateral, such as a car or house, to be put up as security.

• Unsecured loans do not require collateral, but may have higher interest rates.

• Personal loans are for personal expenses, such as home improvements or medical bills.

• Business loans are for business expenses, such as equipment or inventory.

• Student loans ...read more

Documents required for a loan

• Proof of identity (passport, driver's license, etc.)

• Proof of income (pay stubs, tax returns, etc.)

• Credit report

• Bank statements

• Loan application form

• Collateral documents (if applicable)

Concurrent auditor is an auditor who performs audit procedures concurrently with the occurrence of transactions.

• Concurrent auditor ensures that transactions are recorded accurately and in compliance with policies and procedures.

• They review transactions as they occur to prevent errors and fraud.

• They provide real-time feedback to management to improve controls and processes.

• Examples of concurrent audit include monitoring...read more