CohnReznick Senior Consultant 2 Interview Questions and Answers

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

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

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

SOC audit focuses on controls and processes, while ISO 27001 focuses on information security management system.

• SOC audit assesses the effectiveness of controls and processes in place to protect data and systems.

• ISO 27001 is a standard that specifies requirements for establishing, implementing, maintaining, and continually improving an information security management system.

• SOC audit is more focused on the operational e...read more

Fundamentals of audit involve examining financial records, internal controls, and compliance with laws and regulations.

• Audit is a systematic examination of financial records, internal controls, and compliance with laws and regulations.

• Auditors gather evidence to support their findings and opinions.

• Audits can be external (performed by independent auditors) or internal (performed by employees within the organization).

• The...read more