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Ernst & Young CA Article Interview Questions and Answers

Updated 30 Nov 2015

Ernst & Young CA Article Interview Experiences

1 interview found

CA Article Interview Questions & Answers

user image Spoorthi Hegde

posted on 29 Nov 2015

Interview Questionnaire 

6 Questions

  • Q1. Why was the New Companies Act 2013 introduced in place of Companies Act 1956?
  • Ans. 

    The New Companies Act 2013 was introduced to modernize and improve corporate governance in India.

    • The Companies Act 1956 was outdated and needed to be replaced with a more comprehensive and contemporary legislation.

    • The new act aimed to align Indian corporate laws with international standards and best practices.

    • It introduced several new provisions to enhance transparency, accountability, and investor protection.

    • The Act i...

  • Answered by AI
  • Q2. List out all the Accounting Standards that you know of.What is your favorite?Mention any 2 or 3
  • Q3. Once you choose your favorites, questions will be asked on those( and others too)
  • Q4. What are the differences b/w Purchase Method and Pooling of Interests Method in Accounting of Amalgamation(AS 14)?
  • Ans. 

    The Purchase Method and Pooling of Interests Method are two different accounting methods used for amalgamations.

    • Purchase Method involves recording the amalgamation as an acquisition, with the acquiring company recognizing the fair value of the assets and liabilities of the acquired company.

    • Pooling of Interests Method involves combining the financial statements of the merging companies as if they had always been a singl...

  • Answered by AI
  • Q5. A case study was asked on AS 19 which was of CA Final.I just answered by stating the definitions of Operating Lease and Finance Lease and made an attempt which proved to be wrong
  • Q6. State AS 4 AND AS 5
  • Ans. 

    AS 4 and AS 5 are Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI).

    • AS 4: Contingencies and Events Occurring After the Balance Sheet Date

    • AS 5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies

  • Answered by AI

Interview Preparation Tips

Round: Test
Experience: It was a fairly easy test based on Logical Reasoning,Basic Mathematics and General Questions on Accounting.
Tips: A little brush up on the above mentioned areas a few days before the interview should suffice.
Duration: 60 minutes minutes

Round: HR Interview
Experience: They had come on campus only for Audit.Basic Questions about yourself,your family and the reason for doing CA/choosing E&Y over others was asked.It might get overwhelming for a few when they grill you in detail about everything.They asked me about my preference of area(Service sector/Manufacturing/Financial services) in Audit.When I said that I had no such preference and I did not have much idea regarding the same,she explained about all the three.Nothing much technical here,more general.
Tips: Smile,Be Confident(Not Overconfident!) about what you're speaking irrespective of the fact of whether or not you know the right answer.State clearly your preferences and conditions(if any) regarding travel restrictions because you will not be allowed to back out once you opt for it.Clear all your doubts regarding the scope of work,remuneration(though not suggested) with the HR team itself.

Round: Technical Interview
Experience: I chose the Service sector(as I was told it's more suited for girls as it did not involve much field work).This was the toughest part among all, if I had to choose among the three.Your concepts must be clear about the area that you choose(TAX/AUDIT). The first thing that they ask you is why Audit.Then she gave different case studies testing my knowledge in Accounting Standards.She also asked me a few questions on The Companies Act 2013.
Tips: Make sure that you are clear with all the AS, SAs and Company Law.Be ready for twisted questions- some might even be out of our syllabus. In such case, politely inform the interviewer that you do not know the answer. Do not try to be over smart as most of them are highly qualified and Experienced CAs. In case you have particular doubts regarding that sector(in my example,Services), clear it with them.

General Tips: Be ready to travel a LOT if you choose to be in Audit.
The daily timings(specially the "out" of the office timings) are not fixed and may extending till late night.
Saturdays are officially off but you may be asked to come if there's work.
Skill Tips: Make sure you brush up with all the Accounting Standards,Standards on Auditing and Company Law(as much as possible).Go through a few case studies on all the three in case they decide to twist and ask you the questions.
Skills: Company Law, Auditing, Accounting
College Name: HR College of Commerce and Economics
Motivation: It's a "BIG 4".The tag itself is quite motivating but the main reason behind me applying for the same was to experience what an interview would be like and to get a few doubts cleared about how they actually work and expect us to work on first hand basis before zeroing in on whether I should join a BIG 4 or a mid size CA firm.

Interview questions from similar companies

Interview experience
4
Good
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
No response

I applied via Walk-in and was interviewed in Nov 2024. There was 1 interview round.

Round 1 - Technical 

(1 Question)

  • Q1. What is tds ? How is it different from tcs
  • Ans. 

    TDS stands for Tax Deducted at Source, while TCS stands for Tax Collected at Source. Both are types of taxes collected by the government.

    • TDS is deducted by the payer at the time of making payment to the payee, while TCS is collected by the seller from the buyer at the time of sale of goods.

    • TDS is applicable on various types of income like salary, interest, commission, etc., while TCS is applicable on the sale of certai...

  • Answered by AI
Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - Aptitude Test 

It was good and relevant

Round 2 - One-on-one 

(2 Questions)

  • Q1. Why do you want to intern with KPMG
  • Q2. How will you perform under pressure
Interview experience
3
Average
Difficulty level
-
Process Duration
-
Result
-
Round 1 - HR 

(2 Questions)

  • Q1. Tell me about yourself
  • Q2. What are your strengths and weaknesses
Interview experience
5
Excellent
Difficulty level
-
Process Duration
-
Result
-
Round 1 - Technical 

(2 Questions)

  • Q1. TDS rates of various services
  • Ans. 

    TDS rates vary for different services as per Income Tax Act.

    • TDS rate for professional fees is 10%

    • TDS rate for rent is 10% if the annual rent exceeds Rs. 1,80,000

    • TDS rate for commission or brokerage is 5%

  • Answered by AI
  • Q2. Case study on PGBP etc
Interview experience
2
Poor
Difficulty level
-
Process Duration
-
Result
-
Round 1 - HR 

(2 Questions)

  • Q1. Introduce yourself
  • Ans. 

    I am a dedicated and hardworking individual with a passion for accounting and finance.

    • Graduate in Accounting from XYZ University

    • Completed internship at ABC Accounting Firm

    • Proficient in MS Excel and Tally software

    • Strong analytical and problem-solving skills

  • Answered by AI
  • Q2. Rate your excel skill
  • Ans. 

    I rate my Excel skills as advanced.

    • Proficient in creating complex formulas and functions

    • Skilled in data analysis and visualization using pivot tables and charts

    • Experienced in VBA programming for automation tasks

  • Answered by AI
Interview experience
5
Excellent
Difficulty level
-
Process Duration
-
Result
-
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 - Aptitude Test 

None to be specific as to be told by others

Round 3 - HR 

(3 Questions)

  • Q1. Where do you live ?
  • Q2. Why do you want to join us ?
  • Q3. How was your process to

Interview Preparation Tips

Interview preparation tips for other job seekers - Pass in both groups in the first attempt itself
Interview experience
5
Excellent
Difficulty level
-
Process Duration
-
Result
-
Round 1 - Aptitude Test 

Very basic questions which you can solve easily .Try to revise reasoning of ca foundation and basic math formulae.

Round 2 - Technical 

(1 Question)

  • Q1. Questions related to standards of accounting and auditing
Round 3 - Behavioral 

(1 Question)

  • Q1. It's just some basic questions.

Interview Preparation Tips

Interview preparation tips for other job seekers - Just be confident and make them know you if you don't know answers.
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via LinkedIn and was interviewed before May 2023. There was 1 interview round.

Round 1 - One-on-one 

(2 Questions)

  • Q1. How would you audit Trade receivables
  • Ans. 

    Trade receivables are audited by verifying the existence, valuation, and rights of the receivables.

    • Verify the existence of trade receivables by confirming with customers through direct communication or third-party confirmations.

    • Assess the valuation of trade receivables by reviewing the aging schedule and assessing the likelihood of collection.

    • Examine the rights associated with trade receivables by reviewing contracts, ...

  • Answered by AI
  • Q2. Simple external confirmations would work along with management authorisation letter to ask the information from the clients and also vouching the sales and terms pf payment agreement specific to the credit...

Interview Preparation Tips

Interview preparation tips for other job seekers - Just go through audit book including some SA like 550, 700 etc you are good to go
Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Don’t add your photo or details such as gender, age, and address in your resume. These details do not add any value.
View all tips
Round 2 - Aptitude Test 

Communication skill,analytical skill and critical thinking

Round 3 - Group Discussion 

Communication skill and leadership skill

Interview Preparation Tips

Interview preparation tips for other job seekers - work on your communication skill and critical thinking skill

Ernst & Young Interview FAQs

What are the top questions asked in Ernst & Young CA Article interview?

Some of the top questions asked at the Ernst & Young CA Article interview -

  1. Why was the New Companies Act 2013 introduced in place of Companies Act 19...read more
  2. What are the differences b/w Purchase Method and Pooling of Interests Method in...read more
  3. State AS 4 AND A...read more

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