Ernst & Young Interview Questions, Process, and Tips

Q1. ECL provision explain
Ans. 
ECL provision is the estimated amount that a company sets aside to cover potential losses on its loans and other assets.
• ECL stands for Expected Credit Losses.

• It is a provision made by financial institutions to account for potential losses on loans and other financial assets.

• The provision is based on historical data, current economic conditions, and future expectations.

• ECL provision is required under accounting standard...read more
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Q2. How will you audit the Borrowing area
Ans. 
I will audit the Borrowing area by reviewing loan agreements, analyzing interest rates, and assessing compliance with borrowing policies.
• Review loan agreements to ensure terms are being followed

• Analyze interest rates to verify accuracy and reasonableness

• Assess compliance with borrowing policies to identify any violations or discrepancies
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Q1. CARO 2016 vs CARO 2020
Ans. 
CARO 2016 focused on reporting requirements for companies, while CARO 2020 introduced additional reporting requirements and emphasized on fraud detection.
• CARO 2016 primarily focused on reporting requirements for companies.

• CARO 2020 introduced additional reporting requirements such as reporting on internal financial controls and fraud detection.

• CARO 2020 emphasized on the responsibility of auditors to detect and report ...read more
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Q1. Why should we hire you
Ans. 
I have the skills, experience, and passion to excel in this role.
• I have a strong background in data analysis and have successfully completed numerous projects in the past.

• I am detail-oriented and have a proven track record of delivering high-quality work under tight deadlines.

• I am a quick learner and always eager to expand my knowledge and skills.

• I am a team player and have excellent communication skills, which allows ...read more
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Basic to medium aptitude questions were asked

Q1. How do you stand apart
Ans. 
I stand apart through my unique combination of analytical skills, attention to detail, and ability to think outside the box.
• Strong analytical skills demonstrated through previous projects or experiences

• Attention to detail in data analysis and reporting

• Ability to think creatively and problem-solve effectively
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Q1. How do hospitals should open up business post covid
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Q2. Cost structure for a hospital chain
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PPT on investment scenario in healthcare in India

Q1. Power Bi SQL Server database
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Q1. Power Bi visualisation reports and dashboards SQL Server
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Q1. Based on previous experience
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Q2. Command on work experience
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Q1. Normal basic questions
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Q1. Hiring manager would ask questions about your work experience and ask scenario based questions and behavioural questions
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