Frinks AI Interview Questions and Answers

As a Senior Internal Auditor, the action when fraud is found involves investigating, documenting evidence, reporting to management, and recommending corrective actions.

• Conduct a thorough investigation to gather evidence of the fraud

• Document all findings and evidence in a detailed report

• Report the fraud to senior management and relevant authorities if necessary

• Recommend corrective actions to prevent future occurrences of fraud

• Collaborate with other departments such as legal an...read more

I have 5 years of experience in the Audit section.

• I have worked in the Audit section for 5 years.

• During this time, I have gained experience in conducting financial audits, operational audits, and compliance audits.

• I have also developed strong analytical and problem-solving skills through my audit experience.

• I am familiar with audit procedures, standards, and regulations.

• I have experience in preparing audit reports and presenting findings to management.

Compliance of audit refers to ensuring that all audit activities are conducted in accordance with relevant laws, regulations, and standards.

• Compliance of audit involves verifying that the audit process follows established guidelines and procedures.

• It includes ensuring that the audit team has the necessary qualifications and independence to perform their duties effectively.

• Compliance of audit also involves confirming that the audit findings and recommendations are based on acc...read more

Risk rating is a method used to assess the level of risk associated with a particular event or activity.

• Risk rating involves evaluating the likelihood of a risk occurring and the potential impact if it does.

• It helps organizations prioritize risks and allocate resources effectively.

• Risk rating typically uses a scale (e.g. low, medium, high) to categorize risks based on their severity.

• Examples of risk rating criteria include financial impact, regulatory compliance, and reputati...read more

To control day to day business, implement internal controls, perform regular audits, and monitor key performance indicators.

• Implement internal controls to ensure compliance with policies and procedures

• Perform regular audits to identify areas of risk and opportunities for improvement

• Monitor key performance indicators to track progress and identify trends

• Provide training and support to employees to ensure understanding and adherence to controls

• Leverage technology to automate pr...read more