Business for Social Responsibility Audit Executive Interview Questions, Process, and Tips

Q1. All INDas related questions should get prepared
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Q2. Auditing standards and tax related matters and various provisions
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There is no aptitude test in the organisation

Q1. Questions relating to war conditions that can impact audit
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Q2. IND AS 115 & 116 are just mandatory
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Q3. Why Audit and not other areas?
Ans. 
Audit provides a unique opportunity to understand and improve business processes.
• Audit allows me to gain a deep understanding of how a business operates

• I enjoy identifying areas for improvement and providing recommendations

• Audit provides exposure to different industries and business models

• I find the work challenging and rewarding

• Examples: identifying control weaknesses, improving efficiency, reducing risk
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Q4. TOE of different balance sheet and p&L items
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TOE analysis is used to identify the reason for the change in balance sheet and P&L items.
• TOE stands for Time, Ownership, and Extent

• Time refers to the period in which the change occurred

• Ownership refers to who is responsible for the change

• Extent refers to the magnitude of the change

• TOE analysis helps in identifying the reason for the change in balance sheet and P&L items

• For example, a decrease in accounts receivable co...read more
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Q5. Walkthrough of Balance sheet items
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A walkthrough of balance sheet items involves reviewing and verifying the accuracy of each asset, liability, and equity account.
• Start with cash and cash equivalents, verifying bank balances and reconciling any discrepancies

• Review accounts receivable and payable, ensuring proper aging and allowance for doubtful accounts

• Examine inventory and fixed assets, checking for proper valuation and depreciation

• Verify the accuracy ...read more
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Q1. What is Ind as 16 and how to recognise depreciation
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Ind AS 16 is a standard for accounting treatment of property, plant and equipment. Depreciation is recognized based on useful life and residual value.
• Ind AS 16 provides guidelines for recognition, measurement, and disclosure of property, plant, and equipment in financial statements.

• Depreciation is recognized based on the useful life and residual value of the asset.

• The useful life and residual value of an asset are dete...read more
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Q2. CARO amendments
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Q1. Tell me about yourself
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Q2. What are your strengths and weakness
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Q3. How long you see yourself in company
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Q1. 1.Transfer pricing 2.Vouching of trade receivables
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Q2. Vouching of trade payables and bank reconciliation statement
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