G. M. Kapadia & Co. CA Article Trainee Interview Questions and Answers

Q1. Willing to relocate?
Ans. 
Yes, I am willing to relocate for the right opportunity.
• I am open to relocating to a new city or country for career growth.

• I understand that relocation may be necessary for certain job opportunities.

• I am flexible and adaptable to new environments.

• I am excited about the prospect of experiencing a new location and culture.
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Q2. Opt for industrial training
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Industrial training provides practical exposure and hands-on experience in a real-world work environment.
• Industrial training helps in gaining practical knowledge and skills that are essential for a successful career.

• It allows students to apply theoretical knowledge in real-life situations.

• Industrial training enhances problem-solving abilities and decision-making skills.

• It provides an opportunity to network with profess...read more
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Questions about logical reasoning

Q1. What is audit and diff between internal audit and stat audit
Ans. 
Audit is a systematic examination of financial records, while internal audit focuses on internal controls and processes and statutory audit is mandated by law.
• Audit is a systematic examination of financial records to ensure accuracy and compliance with regulations.

• Internal audit is conducted by employees within the organization to evaluate internal controls and processes.

• Statutory audit is an external audit mandated by...read more
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Q2. Favourite as and sa
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Q1. Tell me about yourself.
Ans. 
I am a dedicated and hardworking individual with a strong interest in finance and accounting.
• I have completed my Bachelor's degree in Commerce with a specialization in Accounting.

• I have also completed a certification course in Financial Management.

• During my college years, I actively participated in various finance and accounting competitions.

• I have a good understanding of financial statements and taxation laws.

• I am pro...read more
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Q2. What are your strengths and weaknesses.
Ans. 
My strengths include strong analytical skills, attention to detail, and ability to work well in a team. My weaknesses include being overly critical of my own work and sometimes struggling with time management.
• Strong analytical skills

• Attention to detail

• Ability to work well in a team

• Being overly critical of my own work

• Struggling with time management
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Q3. Why do you want to choose Internal audit domain.
Ans. 
I am interested in Internal Audit domain as it offers a challenging and dynamic work environment.
• I enjoy analyzing and identifying risks in business processes

• I have a keen eye for detail and enjoy problem-solving

• Internal audit provides exposure to various industries and business functions

• It offers opportunities for continuous learning and development

• Examples: identifying control weaknesses in financial reporting, asses...read more
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Q1. To whom Internal auditor is required to report?
Ans. 
Internal auditor is required to report to the management and the audit committee.
• Internal auditor is responsible for evaluating the effectiveness of the organization's internal controls and risk management processes.

• The internal auditor reports to the management and the audit committee.

• The management is responsible for overseeing the day-to-day operations of the organization.

• The audit committee is responsible for overs...read more
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Q2. Tell me whole process of internal audit
Ans. 
Internal audit is a process of evaluating and improving the effectiveness of an organization's risk management, control, and governance processes.
• Planning the audit

• Gathering information and data

• Analyzing and evaluating the information

• Reporting the findings and recommendations

• Follow-up and monitoring

• Examples: financial audits, operational audits, compliance audits
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Q3. What are internal controls
Ans. 
Internal controls are procedures and policies implemented by an organization to ensure the reliability of financial reporting, compliance with laws and regulations, and effective and efficient operations.
• Internal controls are designed to safeguard assets, prevent and detect fraud, and ensure accuracy and completeness of financial records.

• Examples of internal controls include segregation of duties, access controls, phys...read more
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Q4. What is the limit by law in respect of mandatory Internal audit.
Ans. 
The limit by law in respect of mandatory Internal audit varies depending on the size and nature of the business.
• The Companies Act, 2013 in India mandates internal audit for certain classes of companies.

• For listed companies, the limit is set at a turnover of Rs. 50 crores or more in a financial year.

• For unlisted companies, the limit is set at a turnover of Rs. 200 crores or more in a financial year.

• Certain industries li...read more
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Q1. Who do you now about us ?
Ans. 
I know that your firm is a leading accounting firm with a strong reputation for providing quality services.
• Your firm is known for its expertise in accounting and auditing services

• You have a strong reputation for delivering quality work to clients

• Your firm is well-respected in the industry for your professionalism and integrity
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Q2. Tell me about your learnings from oc ?
Ans. 
I have learned valuable skills in accounting, auditing, and taxation during my time at oc.
• Developed strong analytical skills through auditing financial statements

• Gained practical experience in preparing tax returns for clients

• Improved communication skills by interacting with clients and team members

• Enhanced time management skills to meet deadlines for various projects
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Q1. Tell us about yourself
Ans. 
I am a dedicated and hardworking individual with a strong interest in the field of accounting and finance.
• I have completed my Bachelor's degree in Accounting and Finance from XYZ University.

• During my studies, I gained practical experience through internships at ABC Accounting Firm and XYZ Bank.

• I have a good understanding of financial statements, taxation, and auditing principles.

• I am proficient in using accounting soft...read more
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Q2. When can you join us
Ans. 
I can join you in two weeks from now.
• I have a notice period of two weeks at my current job.

• I need to wrap up my current projects before joining a new organization.

• I can start on [specific date].
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Q1. Many questions from your cv
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Q2. Many questions related to syllabus
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Q1. Basic accounting
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Q1. Difference between vlookup and hlookup
Ans. 
VLOOKUP searches for a value in the first column of a table and returns a value in the same row. HLOOKUP does the same but in the first row.
• VLOOKUP searches vertically while HLOOKUP searches horizontally

• VLOOKUP requires the lookup value to be in the first column of the table while HLOOKUP requires it to be in the first row

• VLOOKUP is more commonly used than HLOOKUP

• Example: VLOOKUP can be used to find a student's grade b...read more
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Q2. Basic excel functions
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Q1. AS 9 And few concepts of audit ( basics)
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