Deloitte Spring Intern Interview Questions and Answers

Some major audit observations include inadequate documentation, lack of segregation of duties, and ineffective internal controls.

• Inadequate documentation of transactions and processes

• Lack of segregation of duties leading to potential fraud or errors

• Ineffective internal controls resulting in increased risk of misstatements

• Examples: missing invoices, one person handling both cash receipts and disbursements, lack of appro

A checklist of P2P audit includes vendor verification, invoice approval process, segregation of duties, and payment reconciliation.

• Verify vendor information and ensure accuracy

• Review invoice approval process for compliance with policies

• Ensure segregation of duties to prevent fraud

• Reconcile payments with invoices and purchase orders

HR audit checklist includes reviewing policies, procedures, compliance, and employee records.

• Review HR policies and procedures to ensure compliance with laws and regulations

• Check employee records for accuracy and completeness

• Assess HR practices for effectiveness in recruitment, training, performance management, and employee relations

• Evaluate HR metrics and analytics to measure HR performance and identify areas for impr

SAP T codes are transaction codes used in SAP systems to execute specific functions or tasks.

• Some major SAP T codes include: SE11 (Data Dictionary), SE38 (ABAP Editor), SE16 (Data Browser), VA01 (Create Sales Order), ME21N (Create Purchase Order)

• T codes are used to access different modules and functionalities within SAP systems

• Users can also create custom T codes for specific tasks or reports

Fixed assets audit involves verifying existence, valuation, and ownership of assets.

• Reviewing fixed assets register to ensure all assets are accounted for

• Physically inspecting assets to verify existence and condition

• Checking depreciation calculations to ensure accuracy

• Confirming ownership of assets through documentation

• Testing controls related to fixed assets management

• Reconciling fixed assets register with general led

Major audit observations include inadequate documentation, lack of segregation of duties, and insufficient controls.

• Inadequate documentation of transactions and processes

• Lack of segregation of duties leading to potential fraud risks

• Insufficient controls over financial reporting

• Non-compliance with regulatory requirements

• Weaknesses in IT security measures

Checks in P2P Audit include vendor verification, invoice accuracy, approval process review, duplicate payments detection, and compliance with policies.

• Verify vendor information for accuracy and legitimacy

• Ensure invoices match purchase orders and goods received

• Review approval process to confirm proper authorization

• Detect and prevent duplicate payments

• Check for compliance with company policies and regulations