CohnReznick Senior Consultant Interview Questions and Answers

Q1. What is event loop architecture of node-js
Ans. 
Node.js event loop architecture is a single-threaded, non-blocking, asynchronous I/O model.
• Node.js uses an event-driven architecture to handle I/O operations.

• The event loop is a single thread that listens for events and executes callbacks.

• Callbacks are queued in the event loop and executed in a non-blocking manner.

• Node.js uses libuv library to handle the event loop.

• The event loop allows Node.js to handle a large number
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Q2. What is closures , what is hoisting
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Closures are functions that have access to variables in their outer scope. Hoisting is the behavior of moving declarations to the top of the scope.
• Closures allow for encapsulation and private variables in JavaScript.

• Hoisting can lead to unexpected behavior when variables are declared after they are used.

• Example of closure: function outer() { let x = 10; function inner() { console.log(x); } return inner; }

• Example of hoi...read more
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Q1. About your previous work
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Q1. How will you handle situations
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Q2. Risk of material misstatement procedure
Ans. 
Risk of material misstatement procedure is a process to identify and assess the risk of errors or fraud in financial statements.
• The procedure involves understanding the entity and its environment, including internal controls.

• It also includes assessing the risks of material misstatement due to fraud or error.

• The auditor then designs and performs audit procedures to address the identified risks.

• Examples of procedures inc...read more
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Can artifical intelligence replace humans

Q1. Resume based interview
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Q2. What is your job role
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Q3. Hobbies and deep discussion about it
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Q1. Tell me about yourself?
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Q1. Ind AS, Taxation and Audit SA?
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Q1. P2P process and risk at each step.
Ans. 
P2P process involves requisition, approval, purchase order, goods receipt, invoice receipt, and payment.
• Requisition: Request for goods or services

• Approval: Authorization of the requisition by appropriate personnel

• Purchase Order: Formal document to the supplier specifying the details of the purchase

• Goods Receipt: Verification of goods received matching the purchase order

• Invoice Receipt: Receipt of invoice from the suppl
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Q2. Major observations or risk identified in your internal audit experience.
Ans. 
Key risks identified in internal audit experience
• Lack of segregation of duties leading to potential fraud

• Inadequate controls over financial reporting

• Insufficient IT security measures

• Non-compliance with regulations and policies

• Weaknesses in inventory management
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Q3. How to identified ghost employees?
Ans. 
Ghost employees can be identified by cross-referencing payroll records with HR records and conducting regular audits.
• Cross-reference payroll records with HR records to identify discrepancies

• Conduct regular audits of employee information and payroll to detect any anomalies

• Implement strong internal controls and segregation of duties to prevent ghost employees

• Use biometric verification or time-tracking systems to ensure e...read more
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Q4. What procedure can you perform from PO dump?
Ans. 
You can perform procedures such as creating purchase orders, updating purchase orders, cancelling purchase orders, etc. from a PO dump.
• Creating new purchase orders based on the information in the dump

• Updating existing purchase orders with new information

• Cancelling purchase orders that are no longer needed

• Reviewing and analyzing purchase order data for insights
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Q1. Some personal questions.
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Q1. Describe each step of P2P Process with risk at each step.
Ans. 
P2P Process involves requisition, approval, purchase order, goods receipt, invoice verification, and payment.
• Requisition: Risk of incorrect or unauthorized requests leading to unnecessary purchases.

• Approval: Risk of delays or errors in approval process causing delays in procurement.

• Purchase Order: Risk of incorrect details or unauthorized purchases being made.

• Goods Receipt: Risk of receiving damaged or incorrect goods,...read more
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Q2. What is ghost employee and how can we identify ghost employee?
Ans. 
A ghost employee is a fictitious employee created by someone to embezzle funds from a company.
• Ghost employees may have fake identities and bank accounts.

• They may receive paychecks without actually working for the company.

• To identify ghost employees, cross-check employee records with HR and payroll data.

• Look for discrepancies in employee attendance, performance, and salary payments.

• Conduct regular audits and reviews of
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Q3. What checks can you perform from PO dump?
Ans. 
Perform various checks on purchase order data dump
• Verify accuracy of vendor information

• Check for duplicate PO numbers

• Ensure correct pricing and quantities

• Validate delivery dates

• Confirm approval signatures
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Q1. Are you ok with travelling and late sitting?
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Q2. We need you to join from next Monday.
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Q1. About join as (questions based on joins)
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Q2. About index how to use
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Q3. How to do optimisation
Ans. 
Optimisation involves finding the best solution to a problem by maximizing or minimizing a certain objective function.
• Identify the objective function to be optimized

• Define constraints that need to be satisfied

• Choose an optimization algorithm such as gradient descent or genetic algorithms

• Iteratively improve the solution until the optimal solution is found
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