Blackrock Manager Internal Audit Interview Questions and Answers

An aptitude test was conducted prior to being selected for Interviews

Q1. Questions based on Resume
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Q2. Questions relating to Accounting
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Q3. Questions relating to IFRS
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Q1. Self introduction
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Q2. Hobbies and passions
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Q3. Career goal in 5 years
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It was good and easy also

Q1. Golden rules of Accounting
Ans. 
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The golden rules include: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a company receives ...read more
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Q1. Tell us your major audit observations
Ans. 
Major audit observations include inadequate documentation, lack of segregation of duties, and insufficient controls.
• Inadequate documentation of transactions and processes

• Lack of segregation of duties leading to potential fraud risks

• Insufficient controls over financial reporting

• Non-compliance with regulatory requirements

• Weaknesses in IT security measures
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Q2. What checks shall be done in P2P Audit
Ans. 
Checks in P2P Audit include vendor verification, invoice accuracy, approval process review, duplicate payments detection, and compliance with policies.
• Verify vendor information for accuracy and legitimacy

• Ensure invoices match purchase orders and goods received

• Review approval process to confirm proper authorization

• Detect and prevent duplicate payments

• Check for compliance with company policies and regulations
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Q1. Explaining my Previous experience!
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Q2. Asked about configuration audits.
Ans. How the tolerance were fixed in SAP
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Q3. ICFOR controls and sample tested.
Ans. Controls were tested.and how the samples were collected.
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Q1. Internal audit questions p2p r2r
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Q1. Self intro and brief about accounting
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Short introductions and topics given to say some few words

Proctored and Versant test

Q1. Technical round with assistant manager
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Q1. Final round with Executive manager
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