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Ernst & Young
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posted on 14 May 2023
I applied via Referral and was interviewed before May 2022. There were 3 interview rounds.
The internal audit process involves evaluating and improving an organization's operations and risk management.
Internal audit is an independent and objective evaluation of an organization's internal controls, processes, and procedures.
It helps identify areas of risk, inefficiency, and non-compliance.
The process includes planning, fieldwork, reporting, and follow-up.
During planning, auditors determine the scope, objectiv...
IND AS refers to Indian Accounting Standards which are converged with International Financial Reporting Standards (IFRS).
IND AS is applicable to all companies in India except for small and medium-sized enterprises.
It aims to bring transparency and consistency in financial reporting.
It covers various aspects such as revenue recognition, leases, financial instruments, and consolidation.
IND AS 115 deals with revenue recog...
Auditing Standards are guidelines and rules that auditors follow while conducting audits.
Auditing Standards ensure that audits are conducted with integrity, objectivity, and independence.
They provide a framework for auditors to plan, perform, and report on their audits.
Examples of Auditing Standards include the International Standards on Auditing (ISA) and the Generally Accepted Auditing Standards (GAAS) in the US.
Audi...
Fraud detection methods in audit involve analyzing financial data, conducting interviews, and performing data analytics.
Analyzing financial data to identify irregularities or inconsistencies
Conducting interviews with employees to gather information and detect any suspicious activities
Performing data analytics to identify patterns or anomalies that may indicate fraud
Using forensic accounting techniques to trace financia...
I applied via Job Portal and was interviewed in Oct 2021. There were 3 interview rounds.
What people are saying about Ernst & Young
Materiality is the concept of determining the significance of an item or event in financial reporting and auditing.
Materiality is used to determine what information is important enough to be included in financial statements.
It is a subjective concept and varies depending on the size and complexity of the organization.
Golden accounting rule is the principle of consistency in accounting practices.
It ensures that financia...
Ernst & Young interview questions for designations
I applied via Naukri.com and was interviewed in Jun 2021. There were 3 interview rounds.
Discuss with the developer and provide detailed steps to reproduce the bug.
Ask the developer to check the environment and configuration settings.
Provide screenshots and detailed steps to reproduce the bug.
Collaborate with the developer to find a solution.
If necessary, escalate the issue to the project manager.
Bug life cycle is the process of identifying, reporting, resolving, and verifying software defects.
Bug is identified by testers during testing
Bug is reported to the development team
Development team resolves the bug
Bug fix is verified by testers
Bug is closed if it is fixed or rejected if it is not a valid bug
Bug can be reopened if it reappears
Bug life cycle can vary depending on the organization's process
Functional testing is a type of testing that verifies if the software meets the specified requirements.
It focuses on the functionality of the software
It is performed to ensure that the software meets the business requirements
Types of functional testing include unit testing, integration testing, system testing, and acceptance testing
Examples of functional testing tools include Selenium, HP QuickTest Professional, and IB
I would start by understanding the project requirements and creating a test plan.
Understand the project requirements and objectives
Create a test plan based on the requirements
Identify the test scenarios and test cases
Execute the test cases and report defects
Collaborate with the development team to resolve defects
Continuously improve the testing process
Test scenarios for ATM machine
Testing card insertion and removal
Testing PIN entry and validation
Testing cash withdrawal and balance inquiry
Testing receipt printing
Testing network connectivity and response time
Regression testing is testing the entire system after making changes, while retesting is testing only the failed test cases.
Regression testing ensures that changes made to the system do not affect the existing functionality.
Retesting is done to ensure that the defects found in the previous cycle have been fixed.
Regression testing is done after every change, while retesting is done after a defect is fixed.
Regression tes...
Retesting during integration testing ensures that defects have been fixed and new defects have not been introduced.
Retesting ensures that previously identified defects have been fixed
Retesting also ensures that new defects have not been introduced during integration testing
Retesting helps to ensure the overall quality of the software product
Yes, functional testing can be done at any stage of development.
Functional testing can be done at any stage of development.
It helps in identifying defects early on in the development cycle.
It ensures that the software meets the functional requirements.
Examples of functional testing include unit testing, integration testing, and system testing.
Software testing principles are guidelines that help testers to design and execute effective tests.
Testing should be planned and systematic
Testing should be based on requirements and specifications
Testing should be objective and unbiased
Testing should be thorough and comprehensive
Testing should be timely and cost-effective
Testing should be repeatable and consistent
Testing should be traceable and auditable
Acceptance testing is a type of testing to ensure that the software meets the customer's requirements. Beta testing is done by end-users.
Acceptance testing is done to ensure that the software meets the customer's requirements
It is usually done by the customer or a representative of the customer
Beta testing is done by end-users to identify any issues before the software is released to the public
Beta testing is usually d...
Scrum roles include Product Owner, Scrum Master, and Development Team.
Product Owner is responsible for defining and prioritizing the product backlog.
Scrum Master facilitates the Scrum process and ensures adherence to Scrum principles.
Development Team is responsible for delivering a potentially releasable product increment at the end of each sprint.
As a tester, my daily routine involves analyzing requirements, creating test cases, executing tests, and reporting defects.
Analyze requirements to understand the scope of testing
Create test cases based on requirements and design documents
Execute tests and report defects using a bug tracking tool
Collaborate with developers and other stakeholders to resolve issues
Participate in daily stand-up meetings to discuss progress
V model is a software development model where testing is done at each stage of development.
It is a sequential process where each stage is completed before moving to the next.
It has two branches - the left side represents the planning and design phase, while the right side represents the testing phase.
Testing is done at each stage, ensuring that defects are caught early and fixed.
It is a popular model for software devel...
Agile methodology allows for flexibility, faster delivery, and continuous improvement compared to the rigid and sequential approach of waterfall methodology.
Agile allows for continuous feedback and adaptation, while waterfall is a linear process
Agile promotes collaboration and communication between team members and stakeholders
Agile enables faster delivery of working software in smaller increments
Agile allows for chang...
I wanted to be a software tester because I enjoy finding and fixing bugs, ensuring quality and improving user experience.
I have a passion for problem-solving and attention to detail, which are essential skills for a software tester.
I find satisfaction in identifying and resolving issues, ensuring that the software meets the required standards.
I enjoy the collaborative nature of testing, working closely with developers ...
Smoke testing is a preliminary testing to check if the software build is stable enough for further testing.
It is a quick and shallow testing of critical functionalities
It is performed after every build to catch major issues early
It helps in saving time and effort by identifying critical issues early
It is not a substitute for comprehensive testing
Example: Checking if the login page is working after a new build
My approach would be to prioritize security and compliance testing, followed by functional and performance testing.
Conduct security testing to ensure customer data is protected
Verify compliance with banking regulations and standards
Test functionality of key features such as account creation and transactions
Perform load testing to ensure application can handle high traffic
Test for usability and accessibility for all use...
posted on 16 Mar 2023
I applied via Naukri.com and was interviewed before Mar 2022. There were 3 interview rounds.
I have 5 years of experience in quality assurance/quality control, leading teams and ensuring high standards.
Led a team of 10 QA/QC professionals in a manufacturing company
Implemented quality control processes and procedures to improve product quality
Conducted regular audits and inspections to identify and resolve quality issues
Collaborated with cross-functional teams to address customer complaints and implement correc...
I am an experienced Team Leader in Quality Assurance/Quality Control.
I have successfully led a team of QA/QC professionals in ensuring product quality.
I have implemented quality control processes and procedures to improve efficiency and accuracy.
I have trained and mentored team members to enhance their skills and knowledge.
I have collaborated with cross-functional teams to identify and resolve quality issues.
I have a s...
Audit assertions are the claims made by management regarding the accuracy and completeness of financial statements.
Audit assertions are used by auditors to evaluate the financial statements of an organization.
There are six types of audit assertions: existence, completeness, accuracy, valuation, rights and obligations, and presentation and disclosure.
Existence assertion ensures that the assets and liabilities mentioned ...
Audit materiality is the threshold used to determine the significance of an error or misstatement in financial statements.
It is used to determine the level of detail required in an audit.
It is based on the size and nature of the company being audited.
It helps auditors decide which errors or misstatements are significant enough to report to management or shareholders.
Materiality is subjective and can vary depending on t...
Ind AS 115 is a new revenue recognition standard introduced by the Institute of Chartered Accountants of India.
Ind AS 115 replaces the existing revenue recognition standard Ind AS 18 and is effective from April 1, 2018.
It provides a single, comprehensive framework for revenue recognition across all industries.
The standard requires companies to recognize revenue when control of goods or services is transferred to the cu...
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