Ernst & Young Senior Officer Interview Questions and Answers

Risk refers to the potential for loss or harm, while relevant controls are measures taken to mitigate or prevent those risks.

• Risk is the possibility of an event occurring that could negatively impact an organization or individual.

• Controls are measures put in place to reduce the likelihood or impact of a risk.

• Examples of controls include insurance policies, security protocols, and safety procedures.

• Risk assessment is th...read more

Management override of controls refers to the ability of management to manipulate or ignore established internal controls.

• Management override of controls can lead to fraudulent activities going undetected.

• Examples include management instructing employees to ignore certain controls or falsify records.

• It is important for organizations to have strong ethical cultures and whistleblower mechanisms to prevent and detect mana

Risk refers to the potential for loss or harm, while relevant controls are measures taken to mitigate or prevent those risks.

• Risk is the possibility of an event occurring that could negatively impact an organization or individual.

• Controls are measures put in place to reduce the likelihood or impact of a risk.

• Examples of controls include insurance policies, security protocols, and safety procedures.

• Risk assessment is th...read more