EY Global Delivery Services ( EY GDS) Audit Associate Interview Questions, Process, and Tips

Basic accounting ,english and logical reasoning

Q1. What is audit procedure
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Q2. SA 600
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Q1. Why would you like to join this organisation
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Moderate level asking questions on English, math and accounting

Q1. Tell me about yourself
Ans. 
I am a detail-oriented individual with a strong background in accounting and auditing.
• Graduated with a degree in Accounting

• Completed internships at accounting firms

• Strong analytical and problem-solving skills

• Experience with financial statement analysis

• Currently pursuing CPA certification
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Q2. Why did you choose do to audit
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I chose to do audit because I enjoy analyzing financial data and ensuring accuracy and compliance.
• I have a strong attention to detail and enjoy working with numbers

• I am interested in understanding how businesses operate and identifying areas for improvement

• I value the importance of maintaining financial integrity and ensuring regulatory compliance
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Q1. What is statutory audit
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Statutory audit is a legally required review of a company's financial records to ensure accuracy and compliance with laws and regulations.
• Statutory audit is mandatory for all companies to ensure transparency and accountability.

• It is conducted by external auditors who are independent of the company being audited.

• The audit report is submitted to regulatory authorities and shareholders to provide assurance on the company'...read more
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Q2. How do you audit cash transaction
Ans. 
Cash transactions are audited by examining physical cash, bank statements, receipts, and reconciling with accounting records.
• Verify physical cash on hand matches accounting records

• Review bank statements for cash deposits and withdrawals

• Examine receipts and invoices for cash transactions

• Reconcile cash transactions with accounting records

• Perform surprise cash counts to ensure accuracy
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Q3. What are audit assertions
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Audit assertions are claims made by management regarding the accuracy of financial statements.
• Audit assertions include existence, completeness, rights and obligations, valuation, presentation and disclosure.

• They are used by auditors to assess the risk of material misstatement in financial statements.

• For example, existence assertion ensures that assets and liabilities actually exist at a given date.
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Simple aptitude questions

Q1. Journal entries
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Q2. Cash flow statement
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Q3. Any question that can be formed when you introduce yourself
Ans. 
I am a recent graduate with a degree in Accounting and experience in financial analysis.
• Highlight relevant education and experience

• Mention career goals and interests in auditing

• Discuss any relevant certifications or skills
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