20+ Ernst & Young Analyst Interview Questions and Answers

GroupBy is used to group data based on a column while Having is used to filter grouped data based on a condition.

• GroupBy is used with aggregate functions like SUM, COUNT, AVG, etc.

• Having is used to filter data after grouping based on a condition.

• GroupBy is used before Having in a SQL query.

• Example: SELECT department, COUNT(*) FROM employees GROUP BY department HAVING COUNT(*) > 5;

• Example: SELECT department, AVG(salary) FROM employees GROUP BY department HAVING AVG(salary) > 5...read more

Filtering data in PySpark based on a particular condition.

• Use the filter() function to filter data based on a condition.

• Conditions can be specified using logical operators such as ==, >, <, etc.

• Multiple conditions can be combined using logical operators such as and, or, not.

• Example: df.filter(df['age'] > 25).filter(df['gender'] == 'Male')

• This will filter the data where age is greater than 25 and gender is Male.

The PySpark query to find the sum and average using Spark DataFrames.

• Use the `groupBy` method to group the data by a specific column

• Use the `agg` method to apply aggregate functions like `sum` and `avg`

• Specify the column(s) to perform the aggregation on

Analyzing a company's financial statements involves examining its income statement, balance sheet, and cash flow statement to evaluate its financial health.

• Start by examining the income statement to understand the company's revenue, expenses, and profitability.

• Next, review the balance sheet to assess the company's assets, liabilities, and equity.

• Finally, analyze the cash flow statement to evaluate the company's cash inflows and outflows.

• Look for trends and patterns in the fin...read more

Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.

• Internal audit evaluates the effectiveness of an organization's risk management, control, and governance processes.

• Pivot table is a data summarization tool used in spreadsheet programs like Excel. It allows you to quickly summarize and analyze large amounts of data.

• VLOOKUP is a function in Excel that allows you to search for a specific v...read more

Market share can be calculated by dividing a company's sales revenue by the total sales revenue of the industry.

• Determine the company's total sales revenue for a specific period

• Determine the total sales revenue of the industry for the same period

• Divide the company's sales revenue by the industry's total sales revenue and multiply by 100 to get the market share percentage

• For example, if Company A has sales revenue of $1 million and the industry's total sales revenue is $10 mil...read more

A data lake is a centralized repository that allows storage of structured and unstructured data at any scale.

• Data can be stored in its raw form without any pre-defined schema

• Data can be accessed by various teams for different purposes

• Data can be processed and transformed as per the requirement

• Examples: Amazon S3, Microsoft Azure Data Lake, Google Cloud Storage

Columns can be added or removed from Spark dataframes using select() and drop() functions.

• To add a column, use withColumn() function and provide a name and expression for the new column.

• To remove a column, use drop() function and provide the name of the column to be removed.

• To select specific columns, use select() function and provide the names of the columns to be selected.

• Example: df.withColumn('new_col', df.col1 + df.col2).drop('col1').select('new_col', 'col2')

Spark has a master-slave architecture with a cluster manager and worker nodes.

• Spark has a driver program that communicates with a cluster manager to allocate resources and schedule tasks.

• Worker nodes execute tasks and return results to the driver program.

• Spark supports multiple cluster managers like YARN, Mesos, and standalone.

• Spark also has a DAG (Directed Acyclic Graph) scheduler that optimizes task execution.

• Spark's architecture allows for in-memory processing and caching ...read more

Joining three tables using SQL

• Use the JOIN keyword to combine the tables based on a common column

• Specify the columns to select from each table

• Use the ON keyword to define the join condition

Compliance refers to following rules, regulations, and standards set by authorities. Sanctioned countries are those facing restrictions due to political reasons.

• Compliance involves adhering to laws, regulations, and standards set by governing bodies

• Sanctioned countries are nations facing restrictions or penalties due to political reasons

• Examples of sanctioned countries include Iran, North Korea, and Syria

General IT Controls are policies and procedures that ensure the proper functioning of IT systems and data security.

• General IT Controls are designed to provide reasonable assurance that IT systems operate effectively and efficiently.

• They include policies and procedures related to access controls, change management, backup and recovery, and security management.

• Examples of General IT Controls include password policies, network security controls, and disaster recovery plans.

• These...read more

Audit planning refers to the process of outlining the scope, objectives, and timelines for an audit engagement.

• Identifying the key risks and areas to be audited

• Setting the audit objectives and scope

• Developing an audit plan detailing the procedures to be followed

• Assigning resources and establishing timelines

• Considering the organization's internal controls and risk management processes

• Reviewing previous audit findings and recommendations

• Communicating the audit plan to relevant ...read more

I have led major projects in data analysis and forecasting, facing challenges such as tight deadlines and complex data sets.

• Led a team in developing a predictive analytics model for sales forecasting

• Implemented a data visualization tool to track key performance indicators

• Managed a project to optimize inventory management using machine learning algorithms

Python is a high-level, interpreted programming language known for its simplicity and readability. Rust is a systems programming language focused on performance and safety.

• Python is dynamically typed, while Rust is statically typed.

• Python is commonly used for web development, data analysis, and automation tasks, while Rust is often used for systems programming and performance-critical applications.

• Python has a large standard library and extensive third-party packages, while R...read more

Updates on IFRS and recent circulars

• IFRS 17 Insurance Contracts has been postponed to January 2023

• IFRS 9 Financial Instruments has been amended to provide relief to lessees

• Recent circulars include SEBI's guidelines on disclosure of financial ratios by listed companies

• Another recent circular is RBI's guidelines on co-lending by banks and NBFCs

Residual risk is the risk that remains after implementing risk mitigation measures.

• Residual risk is the risk that cannot be completely eliminated.

• It is the risk that remains after implementing risk management strategies.

• It is important to identify and assess residual risk to determine if additional measures are needed.

• Examples of residual risk include natural disasters, cyber attacks, and human error.

• Residual risk can be reduced but not completely eliminated.

I will run down my CV for you

• I have a Bachelor's degree in Computer Science

• I have 3 years of experience as a software developer

• I am proficient in Java, Python, and C++

• I have worked on projects involving machine learning and data analysis

• I have excellent problem-solving and communication skills

Secondary research involves gathering information from existing sources such as books, articles, and reports.

• Involves analyzing and synthesizing existing data

• Does not involve collecting new data

• Sources can include books, articles, reports, and online databases

• Helps in gaining a deeper understanding of a topic

• Can be used to validate primary research findings

My goal in the future is to advance my career in data analysis and eventually become a senior analyst in a reputable company.

• Continue improving my data analysis skills through courses and certifications

• Seek opportunities for mentorship and networking in the industry

• Work on real-world projects to gain practical experience

• Set specific career milestones and track progress towards them

Tax is a mandatory financial charge imposed by the government on individuals or businesses to fund public expenditures.

• Tax is collected by the government to fund public services such as education, healthcare, and infrastructure.

• There are different types of taxes such as income tax, sales tax, property tax, and corporate tax.

• Tax rates can vary based on income levels, types of goods or services, and location.

• Tax evasion is illegal and can result in penalties or imprisonment.

• Tax...read more

Risk management is the process of identifying, assessing, and prioritizing risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and impact of unfortunate events.

• Identifying potential risks that could impact an organization's objectives

• Assessing the likelihood and potential impact of each risk

• Prioritizing risks based on their severity and likelihood

• Developing strategies to mitigate or avoid risks

• Monitoring and ...read more

My last working day is next Friday.

• My last working day is on Friday of next week.

• I will be working until next Friday.

• My lwd is the upcoming Friday.

Porter's Five Forces is a framework for analyzing the competitive forces in an industry.

• Porter's Five Forces include: threat of new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, and intensity of competitive rivalry.

• It helps businesses understand the competitive environment they operate in and develop strategies to stay competitive.

• For example, in the airline industry, the threat of new entrants is low due to high barriers ...read more

Depreciation is the allocation of the cost of a tangible asset over its useful life.

• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It reflects the wear and tear, aging, or obsolescence of the asset.

• Common methods of calculating depreciation include straight-line, double-declining balance, and units of production.

• Example: A company buys a delivery truck for $50,000 with a useful life of 5 years. Using straight-line depreciation, the annual depr...read more