Crowe Horwath Audit Associate 2 Interview Questions and Answers

Q1. Audit related question
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Q1. Case study on Ind as 115. Timing of recognition as revenue of Amount provided for training employees for a specific assignment
Ans. 
Under Ind AS 115, revenue for training employees for a specific assignment should be recognized when the training services are provided.
• Revenue should be recognized over time as the training services are provided.

• The amount provided for training employees should be allocated to each period based on the progress of the training.

• The timing of revenue recognition should align with the timing of when the training services ...read more
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Q2. Ind as 116 case study
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Q3. Ind as 2 calculation of inventory cost as per fifo
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Ind AS 2 requires inventory cost to be calculated using the FIFO method.
• Under FIFO method, the oldest costs are assigned to inventory first.

• Cost of goods sold is calculated using the oldest costs first.

• Ending inventory is valued at the most recent costs.

• Example: If a company purchases inventory at $10, $12, and $15, under FIFO method, the inventory sold will be valued at $10 first.

• Example: If the company sells 100 unit...read more
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Q4. Ind as 102 journal entries
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Ind AS 102 journal entries are used to record share-based payments in financial statements.
• Ind AS 102 requires companies to recognize share-based payments as an expense in their financial statements.

• Journal entries for share-based payments typically involve debiting an expense account and crediting either equity or liability accounts.

• For example, if a company grants stock options to employees, the journal entry would i...read more
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Q1. Questions based off resume
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Q1. What is assertion
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Assertion is a claim or statement made by management regarding the financial statements.
• Assertions are made by management to ensure the accuracy and completeness of financial statements.

• There are different types of assertions such as existence, completeness, valuation, rights and obligations, etc.

• For example, the assertion of existence would state that all reported assets and liabilities actually exist.

• Auditors test th...read more
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Q2. What is materiality
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Materiality is the concept of determining the significance or importance of an item or event in relation to financial statements.
• Materiality helps auditors decide what information to focus on during an audit

• It is based on the size, nature, and circumstances of an item or event

• Materiality is subjective and can vary depending on the context

• For example, a small error in a company's financial statements may not be consider...read more
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Q3. Different types of audit opinion
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Different types of audit opinions include unqualified, qualified, adverse, and disclaimer.
• Unqualified opinion: clean opinion, no material misstatements found

• Qualified opinion: some limitations or scope restrictions, but overall financial statements are fairly presented

• Adverse opinion: significant material misstatements found, financial statements are not fairly presented

• Disclaimer opinion: auditor unable to form an opi...read more
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No any aptitude test

Only xl formulas, and pivot table.

Basic group chats on what's app nd on google teem .

Internal audit provide for other company's, and assat audit provide for other company's.

Physical , soft copy, and chack certificate etc.

Q1. Are you immediately join ?
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Q2. Are you full time job joiner?
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Q1. Basic Laptop user?
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Yes, I am a basic laptop user with proficiency in common applications and tasks.
• Proficient in using Microsoft Office suite (Word, Excel, PowerPoint)

• Able to browse the internet and use email

• Comfortable with basic troubleshooting and settings adjustments

• Familiar with file management and organization

• May have limited knowledge of more advanced software or technical tasks
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Q2. Why are you find this job?
Ans. Because my intrest in a commercial audit
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Q1. What about your self?
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Q2. What about aspects salary?
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Q3. What is your study from?
Ans. Say, that my course and my degree's.
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Q4. And manager say your training is 6 month, so you interested?
Ans. Don't only confirmed to the wise manager, please confirm to hr,That's really 6 month or 12 month training time and confirm that only on the mail .
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Q1. Difference in Forensic audit and Other audits?
Ans. 
Forensic audit focuses on investigating fraud and misconduct, while other audits focus on financial statements and compliance.
• Forensic audit involves investigating fraud, embezzlement, and misconduct within an organization.

• Other audits, such as financial statement audits and compliance audits, focus on verifying the accuracy of financial records and ensuring compliance with laws and regulations.

• Forensic auditors often ...read more
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Q1. What are recent financial scandals cases and how would you have investigated them
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Recent financial scandals include Wirecard, Luckin Coffee, and Toshiba. Investigation would involve reviewing financial statements, conducting interviews, and analyzing internal controls.
• Reviewing financial statements for inconsistencies and irregularities

• Conducting interviews with key personnel and stakeholders

• Analyzing internal controls and governance structures

• Examining audit trails and transaction records

• Utilizing ...read more
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Q1. Just basic questions based on your resume
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Q1. They'll just ask few basic questions about subjects.
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Q1. 1 Director take direct interview after clear HR round 2 easy to crack in they needed then will easily shortlisted especially in Audit Department
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Q1. Asked Job responsibility question
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English, maths, logical reasoning, dara interpretation

Pros and cons of internet

Q1. Introduce yourself
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Q2. Willing to travel
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Yes, I am willing to travel for the role of Audit Assistant.
• I am open to traveling to different client locations for audits.

• I understand that travel may be required to perform the job effectively.

• I am flexible and adaptable to different travel schedules and locations.

• I have previous experience traveling for work purposes.

• I am willing to make necessary arrangements and accommodations for travel.
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Q1. Difference between ammortization and depreciation
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Amortization is the gradual reduction of an intangible asset's value, while depreciation is the gradual reduction of a tangible asset's value.
• Amortization applies to intangible assets like patents, copyrights, and trademarks.

• Depreciation applies to tangible assets like buildings, vehicles, and machinery.

• Amortization is typically calculated using the straight-line method.

• Depreciation can be calculated using various meth...read more
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Q2. What is Bank reconciliation
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Bank reconciliation is the process of comparing and matching the balances in a company's accounting records with the balances shown on the bank statement.
• Bank reconciliation ensures that the company's records accurately reflect the transactions and balances in its bank accounts.

• It involves comparing the company's cash account balance, including deposits and withdrawals, with the bank statement.

• Any discrepancies between...read more
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Q3. Accounting principles
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