20+ Sainik Mining and Allied Services Interview Questions and Answers

Yes, I have experience with SAP IT audit as well as other ERP systems.

• I have conducted IT audits for SAP systems to ensure compliance with regulations and internal controls.

• I have experience in assessing risks and controls within ERP systems such as Oracle, Microsoft Dynamics, and NetSuite.

• I have worked on SOX audits for various clients, including reviewing SAP configurations and security settings.

• I have experience in identifying and remediating control deficiencies within ER...read more

DB partition is a technique used to divide a database into smaller, more manageable parts.

• DB partitioning is used to improve performance, scalability, and availability of a database.

• It involves dividing a database into smaller partitions based on certain criteria such as range, list, hash, or composite partitioning.

• Each partition can be stored on separate physical storage devices or servers.

• Examples of DB partitioning include sharding in distributed databases and table partit...read more

Digital transformation activities and patterns are constantly evolving with advancements in technology.

• The use of artificial intelligence and machine learning is becoming more prevalent in digital transformation strategies.

• Cloud computing is being widely adopted to enable remote work and increase efficiency.

• The Internet of Things (IoT) is being integrated into various industries to improve operations and customer experiences.

• Agile methodologies are being used to accelerate di...read more

Key approaches for a high yielding design thinking workshop

• Define clear objectives and goals

• Create a diverse and inclusive team

• Encourage open communication and active listening

• Use visual aids and hands-on activities

• Iterate and refine ideas

• Empower participants to take ownership of the process

• Provide a safe and supportive environment

• Celebrate successes and learn from failures

Internal audit is conducted by employees of the company to assess internal controls and operations, while external audit is conducted by independent auditors to provide an opinion on financial statements.

• Internal audit is conducted by employees of the company, while external audit is conducted by independent auditors.

• Internal audit focuses on assessing internal controls and operations of the company, while external audit focuses on providing an opinion on the accuracy of fina...read more

Kafka is a distributed streaming platform used for building real-time data pipelines and streaming applications.

• Kafka is used for building real-time data pipelines to process and analyze data streams.

• It provides high-throughput, fault-tolerant, and scalable messaging system.

• Kafka is commonly used in scenarios like real-time analytics, log aggregation, monitoring, and more.

• Example: Retail banking can use Kafka for real-time transaction processing and fraud detection.

An index is a statistical measure used to represent the value of a group of assets or securities.

• Indexes help investors track the performance of a specific market or sector.

• They provide a benchmark for comparing the performance of individual investments.

• Examples include the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite.

Views are virtual tables that display data from one or more tables, while materialized views are physical copies of the data stored in the database.

• Views are created using a query and do not store data themselves.

• Materialized views store the results of a query in a physical table.

• Views are updated dynamically when queried, while materialized views need to be refreshed to reflect changes in the underlying data.

• Materialized views are useful for improving query performance by pr...read more

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

• Internal auditing evaluates the effectiveness of risk management, control, and governance processes within an organization.

• It helps organizations accomplish their objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

• Internal auditors p...read more

External audit is an independent examination of financial statements conducted by a third party.

• External audit is conducted by a certified public accountant (CPA) or a firm of CPAs.

• It provides assurance to stakeholders that the financial statements are free from material misstatements.

• External auditors follow generally accepted auditing standards (GAAS) to perform their audit procedures.

• The main objective of an external audit is to express an opinion on the fairness of the fi...read more

Balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• It provides a snapshot of a company's financial position.

• Assets are what the company owns, liabilities are what it owes, and equity is the difference between the two.

• The balance sheet follows the accounting equation: Assets = Liabilities + Equity.

• It helps investors, creditors, and analysts assess the financial health and stability of a company.

My favorite Ernst & Young sub-service line is Transaction Advisory Services.

• I enjoy working on due diligence projects

• I find valuations and financial modeling interesting

• I appreciate the variety of clients and industries I get to work with

Spring IOC (Inversion of Control) is a design pattern used in the Spring Framework to manage dependencies in a more flexible and decoupled way.

• In Spring IOC, the control of creating and managing objects is shifted from the application code to the Spring container.

• It helps in achieving loose coupling between classes by removing the dependency from the code.

• Spring IOC is implemented through Dependency Injection (DI) where objects are provided with their dependencies rather than...read more

Principles of auditing are fundamental concepts that guide the auditing process to ensure accuracy and reliability of financial statements.

• Independence: Auditors must remain unbiased and free from conflicts of interest.

• Integrity: Auditors must be honest and ethical in their work.

• Objectivity: Auditors must approach the audit with an open mind and without bias.

• Confidentiality: Auditors must keep all information obtained during the audit confidential.

• Professional competence: Aud...read more

Standards of Auditing are a set of guidelines that auditors follow to ensure the quality and consistency of their work.

• Standards of Auditing provide a framework for auditors to plan, perform, and report on their audits.

• There are three main categories of Standards of Auditing: General Standards, Fieldwork Standards, and Reporting Standards.

• Examples of Standards of Auditing include obtaining sufficient evidence, maintaining independence and objectivity, and communicating findin...read more