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Deloitte Audit Associate Interview Questions, Process, and Tips

Updated 5 Dec 2024

Top Deloitte Audit Associate Interview Questions and Answers

  • Q1. 8) What is the Bank Reconciliation Statement? Explain with a practical example?
  • Q2. 9) When an Asset increases it must be debited or credited?
  • Q3. 10) When equity decreases it must be debited or credited?
View all 6 questions

Deloitte Audit Associate Interview Experiences

4 interviews found

Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Campus Placement and was interviewed before Dec 2023. There were 3 interview rounds.

Round 1 - Aptitude Test 

It was general aptitude question similar to CAT but easier.

Round 2 - Group Discussion 

The topic was convenient and not difficult jargon.

Round 3 - One-on-one 

(2 Questions)

  • Q1. Previous internship questions
  • Q2. Tell me about yourself
Interview experience
5
Excellent
Difficulty level
-
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Referral and was interviewed before Aug 2023. There were 2 interview rounds.

Round 1 - Versant Test 

(2 Questions)

  • Q1. Basic English speaking and Grammer questions
  • Q2. Understanding of spoken English
Round 2 - Technical 

(2 Questions)

  • Q1. HR + Technical Round
  • Q2. Mainly about AS, SAs, TDS and case study based.

Audit Associate Interview Questions Asked at Other Companies

asked in Deloitte
Q1. 8) What is the Bank Reconciliation Statement? Explain with a prac ... read more
asked in PwC
Q2. 2) Ind AS 116, Its objective, Difference between operating Lease ... read more
asked in PwC
Q3. 3) How to do audit of Balance Sheet and Profit & Loss A/c.
asked in Deloitte
Q4. 9) When an Asset increases it must be debited or credited?
asked in Deloitte
Q5. 10) When equity decreases it must be debited or credited?

I applied via Campus Placement and was interviewed in Oct 2020. There were 4 interview rounds.

Interview Questionnaire 

12 Questions

  • Q1. 1) Tell me about yourself? (Or) Walk me through your resume?
  • Q2. 2) Why should we hire you?
  • Q3. 3) Where do you see yourself in the next 5 years?
  • Q4. 4) List out a few of your strengths and weaknesses?
  • Q5. 5) How do you overcome your weakness?
  • Q6. 6) Tell me something about your project which you have ever handled in your past?
  • Q7. 7) What is Audit?
  • Ans. 

    Audit is a systematic and independent examination of financial statements, records, operations, and performance of an organization.

    • Audit is a process of evaluating an organization's financial and operational activities.

    • It involves examining financial statements, records, and transactions to ensure accuracy and compliance with laws and regulations.

    • Auditors provide an independent opinion on the fairness and reliability o...

  • Answered by AI
  • Q8. 8) What is the Bank Reconciliation Statement? Explain with a practical example?
  • Ans. 

    Bank Reconciliation Statement is a document that matches the bank balance with the company's balance.

    • It is used to identify any discrepancies between the two balances.

    • It includes items such as outstanding checks, deposits in transit, and bank fees.

    • A practical example would be comparing the company's records of deposits and withdrawals with the bank statement to ensure accuracy.

    • Any differences found are then investigate...

  • Answered by AI
  • Q9. 9) When an Asset increases it must be debited or credited?
  • Ans. 

    When an asset increases, it must be debited.

    • Debit increases assets and credit decreases assets.

    • Assets include cash, accounts receivable, inventory, property, and equipment.

    • For example, if a company purchases a new machine, the asset account for machinery will be debited to increase it.

    • This is based on the accounting equation: Assets = Liabilities + Equity.

  • Answered by AI
  • Q10. 10) When equity decreases it must be debited or credited?
  • Ans. 

    Equity decreases must be debited.

    • Equity is a credit balance account, so when it decreases, it must be debited to reduce the credit balance.

    • Debiting equity reduces the owner's or shareholder's equity in the business.

    • Examples of equity decreasing transactions include paying dividends, recording losses, or issuing treasury stock.

  • Answered by AI
  • Q11. 11) What is the difference between operating expenses and COGS?
  • Ans. 

    Operating expenses are costs incurred in running a business, while COGS are expenses directly related to producing goods or services.

    • Operating expenses include salaries, rent, utilities, and marketing expenses.

    • COGS include the cost of raw materials, labor, and manufacturing overhead.

    • Operating expenses are recorded on the income statement, while COGS is deducted from revenue to calculate gross profit.

    • Operating expenses ...

  • Answered by AI
  • Q12. 12) Difference between petty cash book and cash book?
  • Ans. 

    Petty cash book is used for small cash transactions while cash book is used for all cash transactions.

    • Petty cash book is used for small cash transactions like buying office supplies or paying for small expenses.

    • Cash book is used for all cash transactions including receipts and payments.

    • Petty cash book is maintained by a petty cashier while cash book is maintained by the main cashier.

    • Petty cash book is usually a single ...

  • Answered by AI

Interview Preparation Tips

Interview preparation tips for other job seekers - My advice is to be confident, present excellent communication skills and a zeal to learn things if you go wrong. Don't give wrong answers if you don't know something politely say I cannot recollect it at the moment.

I applied via Company Website and was interviewed before Sep 2021. There were 2 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Keep your resume crisp and to the point. A recruiter looks at your resume for an average of 6 seconds, make sure to leave the best impression.
View all tips
Round 2 - One-on-one 

(3 Questions)

  • Q1. Tell me about yourself
  • Q2. Strengths, Weaknesses
  • Q3. What are your Career Aspirations

Interview Preparation Tips

Interview preparation tips for other job seekers - - Just be ready to share about yourself and any relevant experiences that you might have

Deloitte interview questions for designations

 Senior Audit Associate

 (1)

 Audit Associate 2

 (1)

 Audit Assurance Associate

 (1)

 Statutory Audit Associate

 (1)

 Audit Assistant

 (28)

 Audit Analyst

 (14)

 Audit Senior

 (6)

 Audit Manager

 (3)

Interview questions from similar companies

Round 1 - Technical 

(2 Questions)

  • Q1. What are financials how many financial
  • Ans. 

    Financials refer to the financial statements of a company that provide information about its financial performance.

    • Financials include the income statement, balance sheet, and cash flow statement.

    • They provide information about a company's revenue, expenses, assets, liabilities, and cash flow.

    • Financials are used by investors, analysts, and other stakeholders to evaluate a company's financial health and performance.

    • Exampl...

  • Answered by AI
  • Q2. Balance sheet csh flow & p&l

Interview Preparation Tips

Interview preparation tips for other job seekers - always remember the fancy names for accounting terms they will not ask you balance sheet they ask for financials
Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - HR 

(1 Question)

  • Q1. Background profile and job profile
Round 2 - Technical 

(1 Question)

  • Q1. Fully technical
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Approached by Company and was interviewed in Mar 2023. There were 2 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Keep your resume crisp and to the point. A recruiter looks at your resume for an average of 6 seconds, make sure to leave the best impression.
View all tips
Round 2 - Technical 

(2 Questions)

  • Q1. General Accounting Questions
  • Q2. General HR questions

Interview Preparation Tips

Topics to prepare for KPMG India Audit Assistant interview:
  • Accounts Handling
Interview preparation tips for other job seekers - Make your base super clear in terms of accounting, atleast for an entry level job.

I applied via Referral and was interviewed in Jul 2021. There were 3 interview rounds.

Interview Questionnaire 

9 Questions

  • Q1. What is audit and objectives?
  • Ans. 

    Audit is a systematic examination of financial records, statements, and transactions to ensure accuracy and compliance with laws and regulations.

    • Audit is conducted to provide assurance to stakeholders that financial statements are accurate and reliable.

    • The objectives of an audit include evaluating internal controls, detecting fraud, and ensuring compliance with laws and regulations.

    • Auditors use various techniques such ...

  • Answered by AI
  • Q2. What is reasonable assurance?
  • Ans. 

    Reasonable assurance is a level of assurance that is achievable and practical, but not absolute.

    • Reasonable assurance is a concept used in auditing to describe the level of assurance provided by an audit.

    • It is a level of assurance that is achievable and practical, but not absolute.

    • It is based on the auditor's professional judgment and the nature and scope of the audit procedures performed.

    • The level of assurance provided...

  • Answered by AI
  • Q3. Understanding on Materiality and few practical examples.
  • Q4. What is Limited review and difference between year end Statutory audit and limited review?
  • Ans. 

    Limited review is a review of financial statements, less in scope than a full audit. Statutory audit is a comprehensive audit of financial statements.

    • Limited review is a less extensive review of financial statements than a full audit.

    • It provides a moderate level of assurance on the financial statements.

    • Statutory audit is a comprehensive audit of financial statements that provides a high level of assurance.

    • Statutory aud...

  • Answered by AI
  • Q5. Understanding on Revenue Audit and difference with Statutory Audit.
  • Ans. 

    Revenue audit focuses on verifying the accuracy of revenue transactions, while statutory audit is a legal requirement to ensure financial statements are accurate.

    • Revenue audit is conducted to ensure that revenue transactions are accurately recorded and reported.

    • Statutory audit is a legal requirement to ensure that financial statements are accurate and comply with accounting standards and regulations.

    • Revenue audit focus...

  • Answered by AI
  • Q6. How to Audit Cash flow statement with examples?
  • Ans. 

    To audit cash flow statement, check accuracy of cash inflows and outflows, reconcile with bank statements, and verify classification.

    • Verify accuracy of cash inflows and outflows

    • Reconcile cash balance with bank statements

    • Check classification of cash flows

    • Ensure compliance with accounting standards

    • Review supporting documents and transactions

    • Perform analytical procedures to identify unusual trends or transactions

    • Obtain ma...

  • Answered by AI
  • Q7. Understanding of Ind AS-115 basics and in depth with examples.
  • Q8. Most Important part is Audit Assertions on which atleast 7-8 practical scenario questions has been asked.
  • Q9. Few practical scenario questions on work performed as per CV.

Interview Preparation Tips

Interview preparation tips for other job seekers - Interviewee should have deep understanding of everything mentioned in the CV and no one ask for fluent English but what one is saying should be understandable and make sure to be confident and deal every question with positive attitude.
If don't know the answer, it's okay just simply reply I don't know rather than giving wrong answer.

I applied via Campus Placement and was interviewed in Aug 2021. There were 4 interview rounds.

Interview Questionnaire 

1 Question

  • Q1. Basic HR and Accounts questions

Interview Preparation Tips

Interview preparation tips for other job seekers - Be confident and presence of mind matters a lot
Interview experience
4
Good
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Walk-in and was interviewed before Apr 2023. There were 2 interview rounds.

Round 1 - Technical 

(1 Question)

  • Q1. Excel basic and Advanced formulas
Round 2 - One-on-one 

(1 Question)

  • Q1. Basic accounting knowledge

Deloitte Interview FAQs

How many rounds are there in Deloitte Audit Associate interview?
Deloitte interview process usually has 2-3 rounds. The most common rounds in the Deloitte interview process are One-on-one Round, Resume Shortlist and Technical.
What are the top questions asked in Deloitte Audit Associate interview?

Some of the top questions asked at the Deloitte Audit Associate interview -

  1. 8) What is the Bank Reconciliation Statement? Explain with a practical examp...read more
  2. 9) When an Asset increases it must be debited or credit...read more
  3. 10) When equity decreases it must be debited or credit...read more

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Deloitte Audit Associate Interview Process

based on 3 interviews

Interview experience

5
  
Excellent
View more

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Deloitte Audit Associate Salary
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₹2.5 L/yr - ₹12.6 L/yr
27% more than the average Audit Associate Salary in India
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3.8/5

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