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Big 4 Accounting Firms Audit and Assurance Executive Interview Questions and Answers

Updated 20 Oct 2022

Big 4 Accounting Firms Audit and Assurance Executive Interview Experiences

1 interview found

I was interviewed before Oct 2021.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Properly align and format text in your resume. A recruiter will have to spend more time reading poorly aligned text, leading to high chances of rejection.
View all tips
Round 2 - Technical 

(1 Question)

  • Q1. Basic Accounting and Auditing Standards, Audit procedures and Audit assertions. Materiality, Contigent Liability, Provisions, Defer Tax ,Audit Opinions, Vouching and Verification of Cash ,Bank ,TP ,TR ,E...
Round 3 - HR 

(1 Question)

  • Q1. Why choosing this Firm or Company, Introduce Yourself and English Fluency they will consider.

Interview Preparation Tips

Interview preparation tips for other job seekers - Be confident and Dress professionally. First Impression is the best Impression. Proper Formal Attire with Fluency in english will get a chance more than others, Also Preparation of CV is very Important in the Corporate Culture ,They will shortlist according to the Good CV.

Interview questions from similar companies

Interview experience
4
Good
Difficulty level
Moderate
Process Duration
-
Result
Not Selected
Round 1 - Technical 

(3 Questions)

  • Q1. What is substantive testing and control testing
  • Ans. 

    Substantive testing involves testing the accuracy and completeness of financial information, while control testing evaluates the effectiveness of internal controls.

    • Substantive testing is used to gather evidence on the accuracy and completeness of financial information.

    • Control testing is used to evaluate the effectiveness of internal controls in place to prevent and detect errors or fraud.

    • Substantive testing includes pr...

  • Answered by AI
  • Q2. How will you audit accounts payable and receivable?
  • Ans. 

    Accounts payable and receivable are audited by examining invoices, payments, reconciliations, and internal controls.

    • Reviewing invoices and matching them to purchase orders and receiving reports

    • Confirming balances with vendors and customers

    • Analyzing aging reports to identify overdue payments

    • Testing internal controls related to authorization, recording, and reconciliation of transactions

    • Performing cutoff tests to ensure

  • Answered by AI
  • Q3. What is materiality?
  • Ans. 

    Materiality is the concept of determining the significance or importance of information in relation to a specific context.

    • Materiality is a subjective concept that varies depending on the nature of the information and its impact on decision-making.

    • It involves assessing whether the information, if omitted or misstated, would influence the decisions of users of the financial statements.

    • Materiality is often considered in t...

  • Answered by AI
Interview experience
4
Good
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Not Selected

I applied via Naukri.com and was interviewed in Apr 2024. There was 1 interview round.

Round 1 - Technical 

(2 Questions)

  • Q1. What is materiality?
  • Ans. 

    Materiality is the concept of determining the significance or importance of information in relation to a specific context.

    • Materiality helps auditors decide what information is important enough to include in their reports

    • It is based on the principle that only significant information should be included in financial statements

    • Materiality is influenced by factors such as the size of the item, its nature, and the needs of t

  • Answered by AI
  • Q2. What is substantive test and test of control?
  • Ans. 

    Substantive tests are procedures performed to detect material misstatements in financial statements, while tests of controls evaluate the effectiveness of internal controls.

    • Substantive tests are used to gather evidence about the completeness, accuracy, and validity of the financial information.

    • Examples of substantive tests include analytical procedures, substantive analytical procedures, and tests of details.

    • Tests of c...

  • Answered by AI

I applied via Referral and was interviewed before Dec 2020. There were 3 interview rounds.

Interview Questionnaire 

3 Questions

  • Q1. Difference between old caro and new caro rules ?
  • Ans. 

    Old CARO and New CARO are two different sets of auditing standards in India.

    • Old CARO was applicable from 2003 to 2015, while New CARO was introduced in 2016.

    • New CARO has more stringent reporting requirements, including reporting on internal financial controls.

    • New CARO also requires auditors to report on frauds committed by the company or its employees.

    • New CARO has increased the number of reporting requirements from 12 ...

  • Answered by AI
  • Q2. Verification of Fixed Assets ?
  • Q3. Audit asscerations ?

Interview Preparation Tips

Interview preparation tips for other job seekers - candidate must studied about CARO rules, Standard of Auditing specifically SA 500 series and 700 series and be confident

Associate Interview Questions & Answers

PwC user image Anonymous

posted on 13 May 2018

Interview Questionnaire 

1 Question

  • Q1. Normally they asked from CMA Syllabus

Interview Preparation Tips

Round: Test
Experience: Syllabus for written test is CMA Syllabus, general knowledge in Computer.

I was interviewed in Aug 2017.

Interview Preparation Tips

Round: Test
Experience: Offline test. Mostly concerned with data sufficiency, geometry and age relations and such apti questions. In verbal part there was sentence equivalence and completion questions. Small RC passages were as well.

Round: Technical Interview
Experience: I was mostly asked some problems and approaches of mathematics and I had been asked about an algorithm I implemented in one of my research project.

College Name: Jadavpur University, Kolkata

Associate Interview Questions & Answers

PwC user image Anonymous

posted on 10 May 2018

I applied via Approached by Company and was interviewed in Aug 2017. There were 5 interview rounds.

Interview Questionnaire 

2 Questions

  • Q1. Solve few SQL joins.
  • Q2. .Net developer profile and the technologies I can get, everything was eye wash post joining

Interview Preparation Tips

Round: Manager + Lead round (not sure what kind of round is this)
Experience: details about the work profile, most of which never happened post joining.

General Tips: If you come from technical background, please do not join PwC SDC and jeopardize our career. There is no technical setup, neither any infrastructure, technical work wont just happen except for few bits n pieces UI work here n there. This is not a company for technical people.
Skills: Communication
Duration: 1-4 weeks

Interview Questionnaire 

8 Questions

  • Q1. Asked about basic infrastructure Planning questions
  • Q2. Why do you think Infrastructure in India is a high growth sector ?
  • Ans. 

    Infrastructure in India is a high growth sector due to increasing urbanization, government initiatives, and foreign investments.

    • India's urban population is expected to reach 600 million by 2030, leading to a demand for better infrastructure

    • The government's initiatives like Smart Cities Mission, Bharatmala Project, and Sagarmala Project are driving infrastructure development

    • Foreign investments in infrastructure projects...

  • Answered by AI
  • Q3. How much Foreign Direct Investment is coming into India ?
  • Ans. 

    India received $64 billion in FDI in 2020-21, a 10% increase from the previous year.

    • India is one of the top FDI destinations in the world.

    • Major sectors attracting FDI include services, computer software and hardware, and telecommunications.

    • Singapore, Mauritius, and the United States are the top sources of FDI in India.

    • The Indian government has implemented various policies to attract more FDI, such as liberalizing FDI n

  • Answered by AI
  • Q4. Tell us about yourself
  • Ans. 

    I am a highly motivated and experienced professional with a passion for problem-solving and teamwork.

    • I have a degree in computer science and have worked in the tech industry for 5 years.

    • I am skilled in programming languages such as Java, Python, and C++.

    • I have experience leading teams and collaborating with cross-functional teams.

    • I am a quick learner and enjoy taking on new challenges.

    • In my free time, I enjoy hiking an

  • Answered by AI
  • Q5. Why Finance ?
  • Ans. 

    Finance is a crucial aspect of any business, as it helps in managing and allocating resources effectively.

    • Finance helps in making informed business decisions

    • It helps in managing cash flow and allocating resources effectively

    • Finance plays a key role in determining the financial health of a company

    • It helps in raising capital for business expansion and growth

    • Finance also involves risk management and financial planning

  • Answered by AI
  • Q6. Why Deloitte and not other consulting firms ?
  • Ans. 

    Deloitte's reputation for innovation, global reach, and diverse expertise sets it apart from other consulting firms.

    • Deloitte has a strong focus on innovation and technology, which allows them to provide cutting-edge solutions to clients.

    • Deloitte has a global network of offices and professionals, which enables them to provide services to clients in various regions and industries.

    • Deloitte has a diverse range of expertise...

  • Answered by AI
  • Q7. Why would you not take up a finance job when that is your passion ?
  • Ans. 

    I would not take up a finance job if it does not align with my values and goals.

    • Passion alone is not enough to sustain a fulfilling career.

    • I prioritize finding a job that aligns with my values and goals.

    • If a finance job does not align with my values and goals, it would not be a good fit for me.

    • For example, if I am passionate about finance but also value work-life balance, I may not take up a high-stress finance job tha...

  • Answered by AI
  • Q8. Can you tell us more about your background ?

Interview Preparation Tips

Round: Resume Shortlist
Tips: Have a well prepared resume that suits for the role you are applying for.

Round: Technical Interview
Experience: They asked me a lot of questions based on my resume. I had done a lot of projects and courses related to Finance. I infact wanted them to ask me questions related to that as i was very well prepared. I told them about my passion for finance and the director who was from IIM Ahmedabad started asking me questions related to that. That i answered pretty well.
Tips: Be good at what you do. Prepare all your resume points in detail. Theres no excuse to that. Doesnt matter if its related to the profile you are getting interviewed for.

Round: HR Interview
Experience: Except the background and about me I was asked more so of why I was not applying for a finance company and why only Deloitte. I was frank and told them that because of the recession ( euro zone debt crisis at that time ) very few companies came on campus. Hence Deloitte. But also explained them that I liked Deloitte Consulting profile as well because of the kind of work profile it offered.
Tips: Be honest and clear about what you want. They can easily catch you otherwise if you are faking or not.
Do not be hesitant to tell them why you really like them - it could be the work profile / money / etc or a combination of these.

General Tips: Be calm and Cool ? - No. You cant be i think if you are serious about getting placed. [ I feel ]
Prepare smartly ! The more the hardwork, higher the chances of getting your dream job. Many think that it just goes waste but I feel that more than the interview and getting a job you develop a lot of skills under that placement pressure and you should be very positive about it. 

Many of the people just chill out completely after placements even if they get a job they dont like.
NEVER GIVE UP ! You spend 70 % of your life at work, hence do not compromise or settle for less. You will regret later on that you did not try enough.  

I did get into JP Morgan - Equity Research after Deloitte :) Its a separate story that I left that company as well in 4 months and started www.AmbitionBox.com :P
Skill Tips: Most of them you would know but revise well before the interview so that you dont get stuck anywhere while answering. You should at the bare minimum know the very basics of Finance, Infrastructure planning and Management and Bidding. Also it depends on the coursework you have done. The interviewer might ask you questions related to that.
Skills: Communication, Infrastructure Finance, Financial Modelling, Infrastructure Management, Project Bidding , Valuations, Cost Analysis
College Name: IIT MADRAS
Motivation: The profile was good. But frankly that time since i was more inclined towards finance I wanted Bombay as my location being the financial capital and the office at 30th Floor excited me :) Also there were a lot of investment banks in the new Indiabulls Office building, I just thought I could apply off campus there and get in. In retrospect all this sounds very immature. Net net it was all worth it to help me decide what i really wanted :)
Funny Moments: After being rejected and told over qualified by Credit Suisse and Nomura backing off from placements at IIT Madras because of slot issues I was directly going to sit for UBS Verity.Had prepared the least for this company. Had not changed my resume for the profile it offered. Was not well dressed. ( Not that its VERY important ) Did not prepare anything much. Had given the interview in the most causal way. But against all odds someone had already decided that this was the company i would get placed in - DESTINY ! Felt very strange at that time because had prepared really hard for other companies.

Conclusion - After seeing a lot of my friends getting placed and reading a lot of reviews on AmbitionBox of seniors - 70% of the people get placed in companies they least expect to get into :)

PS: Doesn't mean you stop trying :) Keep trying ! There's immense satisfaction when you get something you truly wanted after a lot of Hard and Smart Work !

All the best ! Most of the advice we give at AmbitionBox and that you probably get elsewhere are just hints to solve the equation and not the solutions themselves. So make your own recipe for success.

Hope this helps :)

Interview Questionnaire 

3 Questions

  • Q1. Asked questions about the projects which were mentioned in the resume
  • Q2. A few questions were asked about the core intern which I did
  • Q3. Asked about the family background

Interview Preparation Tips

Round: Interview
Experience: 1st round: Panel of two. Asked questions about the projects which were mentioned in the resume. A few questions were asked about the core intern which I did. Asked about the family background.10 got selected in the next round of interviews.
I think for the second round of interviews they selected on basis of CG.
No case studies were asked Just my opinion was asked in certain topics in the second interview which was taken by the partner of the firm. He asked my opinion about construction in India.
I did well in the interview and they liked my story about my projects.
Tips: I think for the second round of interviews they selected on basis of CG.
I started preparing in Mid-November. I think placement is more about yourself. Starting earlier doesn't help.

General Tips: 2nd years: Decide where your interest lies. Have a decent CG at least above 8.
3rd years: Know your interest. Have mock PIs and GDs. 

Be genuine. If you don’t know something just tell them, do not act to be over-smart.Just revise your basic level courses. Revise Contracts, IPM, Construction Management.
Skill Tips: Just revise your basic level courses.Revise Contracts, IPM, Construction Management.
College Name: IIT MADRAS

Interview Questionnaire 

1 Question

  • Q1. They asked me how would you determine toll for the Jamuna Expressway
  • Ans. 

    Determining toll for Jamuna Expressway

    • Consider the distance of the expressway

    • Analyze the maintenance cost of the expressway

    • Take into account the traffic volume and expected revenue

    • Compare with toll rates of similar expressways

    • Consider the economic status of the region

    • Consult with experts and stakeholders

  • Answered by AI

Interview Preparation Tips

Round: Interview
Experience: 2 round of interview
First round- technical (basic infra stuff)Second round- HR skills- just a brush up of civil infra courses like Infrastructure Planning and Management(IPM), ECM.HR preparation – slight basic
First round- they took people with CG>=7.5
They asked me how would you determine toll for the Jamuna Expressway.
Tips: I started in September. Obviously early bird catches the fish.

Round: Interview
Experience: HR preparation – slight basic. My HR was very good. Moreover, my intern was in Mumbai Metro Rail, which helped me push in for infra. Also my PORs gave me an edge over others.
Tips: CFA played a crucial role for my friends.

General Tips: Basically puzzles, as they are helpful in almost every company. It provides you a direction for thinking.
www.brainden.com was a good site.
300,400 puzzles book was very good. (Available in DC++)
Have your resume ready early in the semester.Have mock GDs in your group.Have basic fundamentals about what’s going in the country and world. Don’t RG and prepare in groups.
College Name: IIT MADRAS

Big 4 Accounting Firms Interview FAQs

How many rounds are there in Big 4 Accounting Firms Audit and Assurance Executive interview?
Big 4 Accounting Firms interview process usually has 3 rounds. The most common rounds in the Big 4 Accounting Firms interview process are Resume Shortlist, Technical and HR.

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