Crowe Horwath Audit Associate Interview Questions and Answers

Q1. Tell me about yourself
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Q2. Technical questions
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Q1. Tell me about your prior company experience
Ans. Since I had 5+ yrs of experience in audit, it was easy for me to take through the interviewer across.
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Q2. Why do you want a job change
Ans. To get experience in different domain and BDO rise is once such new organisation to provide a good platform.
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Q1. What is k-1 and K-2 forms
Ans. 
K-1 and K-2 forms are used for fiancé(e) and dependent visas respectively in the United States.
• K-1 form is used for fiancé(e) visas and K-2 form is used for dependent visas in the US

• K-1 form allows a US citizen to bring their fiancé(e) to the US for marriage within 90 days

• K-2 form allows the dependent children of the K-1 visa holder to accompany them to the US

• Both forms require extensive documentation and background ch
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Basics Questions About Financial knowledge and reasoning.

Q1. Tell me About Yourself. Previous Experiences.
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Q2. Define Contingent Liability.
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Contingent Liability is a potential obligation that may arise from past events and whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events.
• It is a liability that is not yet certain but may become certain in the future

• It arises from past events

• It depends on the occurrence or non-occurrence of one or more uncertain future events

• Examples include pending lawsuits, warran
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Q1. Describe about Yourself.
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Q2. Why do you want to join BDO?
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Q3. Why You? and describe previous Experiences
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Q4. How do you Contribute to BDO?
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Q1. Assertions audit, ind as 115
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Q2. Self description , previous org
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Q1. What is Materiality?
Ans. 
Materiality refers to the significance of an item or event in relation to financial statements.
• Materiality is a concept used in auditing to determine the importance of an item or event in relation to financial statements.

• It is used to determine whether an item or event is significant enough to affect the decision-making of users of financial statements.

• Materiality is subjective and depends on the context of the financi...read more
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Q2. What is Audit Risk? Audit Procedure for an Account Balance Audit Procedure for Cash & Bank Balance
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Audit risk is the risk that an auditor expresses an inappropriate opinion on financial statements.
• Audit risk is the risk that the auditor may issue an incorrect opinion on the financial statements.

• It is the risk that the auditor may fail to detect material misstatements in the financial statements.

• Audit risk is composed of inherent risk, control risk, and detection risk.

• Inherent risk is the risk of material misstatemen...read more
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Q1. Same as 1 round with almost similar basic question based on Auditing
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Q1. Journal entries related to deferred revenue, accrual
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Q2. Journal entries related to recording of expenses and incomes
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Assignment is accounting related

Q1. Concept of deffered accounting
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Deferred accounting refers to recognizing revenue or expenses at a later date than when they are actually incurred.
• Deferred accounting is used to match revenue and expenses with the period in which they are actually earned or incurred.

• Common examples include prepaid expenses and unearned revenue.

• Deferred tax liabilities and assets are also examples of deferred accounting.

• It helps in accurately reflecting the financial
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Q2. Journal entries for amortization
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Journal entries for amortization involve recording the gradual reduction in value of intangible assets over time.
• Amortization is the process of allocating the cost of intangible assets over their useful life.

• Debit the Amortization Expense account and credit the Accumulated Amortization account.

• Journal entry example: Debit Amortization Expense $1,000, Credit Accumulated Amortization $1,000.

• Amortization does not apply to
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Q3. Depreciation accounting
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Q1. Salary discussion
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