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10+ Little Millennium Interview Questions and Answers

Updated 26 Jun 2024
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Q1. What are the visualisation softwares you are aware of?

Ans.

Tableau, Power BI, QlikView, D3.js, Google Charts, Plotly, FusionCharts, Highcharts

  • Tableau - widely used for data visualization and business intelligence

  • Power BI - Microsoft's business analytics service for interactive visualizations

  • QlikView - business intelligence and data visualization software

  • D3.js - JavaScript library for creating interactive data visualizations

  • Google Charts - free web-based charting library

  • Plotly - online data visualization and analytics tool

  • FusionCharts...read more

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Q2. What are best ways to measure change adoption.

Ans.

Best ways to measure change adoption

  • Define clear metrics and KPIs to track progress

  • Conduct surveys and feedback sessions to gather user feedback

  • Analyze usage data and compare it to pre-change data

  • Observe user behavior and identify areas of resistance

  • Track the success of training and communication efforts

  • Use a combination of quantitative and qualitative methods

  • Regularly review and adjust measurement methods as needed

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Q3. How will you proceed for a fraud investigation if we have not received the data yet?

Ans.

I would start by conducting interviews with relevant parties and reviewing any available documentation.

  • Conduct interviews with employees involved in the process

  • Review any available documentation such as emails, invoices, and financial records

  • Assess any patterns or anomalies in the information gathered

  • Consider involving external experts or forensic accountants if necessary

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Q4. What do you know about forensic audit? Explain your day to day responsibility/

Ans.

Forensic audit involves investigating financial records to uncover fraud or misconduct. Day to day responsibilities include analyzing data, conducting interviews, and preparing reports.

  • Analyze financial records to identify irregularities or discrepancies

  • Conduct interviews with employees, clients, and other relevant parties

  • Prepare detailed reports documenting findings and recommendations

  • Collaborate with legal teams and law enforcement agencies as needed

  • Stay updated on industry...read more

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Q5. What do you mean by regression?

Ans.

Regression is a statistical method used to analyze the relationship between two or more variables.

  • It helps to predict the value of one variable based on the value of another variable.

  • It is used to identify the strength and direction of the relationship between variables.

  • Linear regression is a common type of regression used to model the relationship between two variables.

  • Examples include predicting sales based on advertising spend, or predicting student grades based on study t...read more

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Q6. How to differentiate domestic and international compliances?

Ans.

Domestic compliances are regulations and laws that apply within a country, while international compliances are regulations and laws that apply across multiple countries.

  • Domestic compliances are specific to the laws and regulations of a single country.

  • International compliances involve adhering to laws and regulations that span multiple countries.

  • Domestic compliances may include tax laws, labor laws, and industry-specific regulations within a country.

  • International compliances m...read more

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Q7. What is compliance? What’re the basics of compliance?

Ans.

Compliance refers to following rules, regulations, and standards set by authorities or organizations to ensure ethical and legal practices.

  • Compliance involves adhering to laws, regulations, and guidelines relevant to a specific industry or organization.

  • It includes implementing policies and procedures to prevent violations and ensure ethical conduct.

  • Regular audits and monitoring are conducted to ensure compliance with standards.

  • Examples include GDPR compliance in data protecti...read more

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Q8. What are the risk in an production unit, purchase department etc.

Ans.

Risks in a production unit and purchase department include supply chain disruptions, quality control issues, and regulatory compliance challenges.

  • Supply chain disruptions can lead to delays in production and increased costs.

  • Quality control issues may result in defective products reaching customers.

  • Regulatory compliance challenges can lead to fines or legal issues.

  • Lack of proper inventory management can result in stockouts or excess inventory.

  • Poor supplier relationships can im...read more

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Q9. How can blockchain implementation can improve government and public sector

Ans.

Blockchain implementation can improve government and public sector by enhancing transparency, efficiency, and security.

  • Transparency: Blockchain can provide a transparent and immutable record of government transactions, ensuring accountability and reducing corruption.

  • Efficiency: Blockchain can streamline processes by eliminating intermediaries and automating tasks, reducing bureaucracy and saving time and costs.

  • Security: Blockchain's decentralized and cryptographic nature can ...read more

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Q10. Do you know any Frauds that happened recently?

Ans.

Yes, the Wirecard fraud scandal is a recent example of a major financial fraud.

  • Wirecard, a German payment processing company, filed for insolvency after admitting to a $2.1 billion accounting scandal.

  • The scandal involved inflating revenue and falsifying financial statements to deceive investors and regulators.

  • Several executives were arrested and investigations are ongoing to uncover the extent of the fraud.

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Q11. What do you know about artificial intelligence

Ans.

Artificial intelligence is a branch of computer science that focuses on creating intelligent machines capable of performing tasks that typically require human intelligence.

  • AI involves the development of algorithms and models that enable machines to learn from and adapt to data.

  • It encompasses various subfields such as machine learning, natural language processing, computer vision, and robotics.

  • AI applications range from virtual assistants like Siri to self-driving cars and rec...read more

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Q12. What is a hypothesis?

Ans.

A hypothesis is an educated guess or prediction about a phenomenon or relationship between variables.

  • A hypothesis is a statement that can be tested through experimentation or observation.

  • It is usually based on prior knowledge or research.

  • It should be specific, measurable, and falsifiable.

  • Examples: 'Increasing the amount of fertilizer will increase plant growth.' or 'Exposure to sunlight will increase vitamin D levels.'

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Q13. What are various types of frauds?

Ans.

Various types of frauds include identity theft, credit card fraud, insurance fraud, and investment fraud.

  • Identity theft: When someone steals personal information to commit fraud.

  • Credit card fraud: Unauthorized use of someone's credit card information.

  • Insurance fraud: Falsifying information to make fraudulent insurance claims.

  • Investment fraud: Deceiving investors for financial gain.

  • Online fraud: Scams conducted over the internet to deceive victims.

  • Bank fraud: Illegally obtaini...read more

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Q14. How is compliance management done?

Ans.

Compliance management involves ensuring adherence to laws, regulations, and internal policies within an organization.

  • Establishing clear policies and procedures

  • Regular monitoring and auditing of activities

  • Providing training to employees on compliance requirements

  • Implementing systems for reporting violations

  • Responding promptly to any compliance issues

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