Business for Social Responsibility Interview Questions, Process, and Tips

Payroll testing involves verifying accuracy of payroll calculations, deductions, and compliance with regulations.

• Review payroll policies and procedures

• Test payroll calculations for accuracy

• Verify deductions such as taxes, benefits, and garnishments

• Ensure compliance with labor laws and regulations

• Sample test cases include testing overtime calculations, verifying employee classifications, and checking for accuracy in bon

The differences between CARO 2016 and CARO 2020, materiality concept, 5 steps of Ind AS 115, Ind AS 116, and IFC testing.

• CARO 2016 focused on reporting requirements for companies, while CARO 2020 introduced additional reporting requirements related to fraud and internal controls.

• Materiality concept in accounting refers to the significance of an item or event in financial statements. It helps determine what information ...read more

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

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

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

Current CTC is confidential, expected CTC is based on industry standards and my experience.

• Current CTC is confidential information as per company policy

• Expected CTC is based on industry standards and my experience in the role

• I am open to discussing compensation based on the responsibilities and expectations of the position