Gga India Associate/Senior Associate -(Nontechnical) Interview Questions and Answers

Q1. What are Risks and Controls in a PROCESS audit
Ans. 
Risks and controls in a process audit help identify potential issues and ensure compliance with regulations.
• Risks in a process audit refer to potential events or circumstances that could negatively impact the effectiveness or efficiency of the process.

• Controls in a process audit are measures put in place to mitigate risks and ensure that the process operates effectively and in compliance with regulations.

• Examples of ri...read more
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Q2. Significant observation came across in Internal Audit
Ans. 
The significant observation in Internal Audit was related to discrepancies in financial records.
• Identified irregularities in financial transactions

• Discovered unauthorized access to sensitive information

• Uncovered potential fraud or embezzlement

• Highlighted weaknesses in internal controls

• Recommended improvements to prevent future issues
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Basic accounting questions will be asked in this round.

Q1. Questions related to accruals, prepaid, depreciation will be asked.
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Q1. Hr asked basic questions based on experience as mentioned in my resume
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Q1. This was the team lead to whom i would report on daily basis was 30 minute interview
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Q2. It was based on the HR audit i conducted , she wanted to know how i had found the observation?
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Q1. It was with Associate Director of the department was almost an hour long which based on my resume
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Q1. It was the director of the department and was short
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Q1. What is Primary and Secondary Research?
Ans. 
Primary research is original research conducted by the researcher, while secondary research is the analysis of existing research.
• Primary research involves collecting new data through methods such as surveys, interviews, and experiments.

• Secondary research involves analyzing existing data from sources such as books, journals, and online databases.

• Primary research is more time-consuming and expensive than secondary resear...read more
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