AmbitionBox
Interview Questions
- Reviews
- Salaries
- Interview Questions
- About Company
- Benefits
- Jobs
- Office Photos
- Community
Add office photos
Filter interviews by
Grant Thornton Bharat Audit Associate Interview Questions and Answers
Grant Thornton Bharat Audit Associate Interview Experiences
2 interviews found
Selected
I applied via Naukri.com and was interviewed in Jul 2024. There were 2 interview rounds.
(4 Questions)
- Q1. Case study on Ind as 115. Timing of recognition as revenue of Amount provided for training employees for a specific assignment
- Ans.
Under Ind AS 115, revenue for training employees for a specific assignment should be recognized when the training services are provided.
Revenue should be recognized over time as the training services are provided.
The amount provided for training employees should be allocated to each period based on the progress of the training.
The timing of revenue recognition should align with the timing of when the training services ...
- Q2. Ind as 116 case study
- Q3. Ind as 2 calculation of inventory cost as per fifo
- Ans.
Ind AS 2 requires inventory cost to be calculated using the FIFO method.
Under FIFO method, the oldest costs are assigned to inventory first.
Cost of goods sold is calculated using the oldest costs first.
Ending inventory is valued at the most recent costs.
Example: If a company purchases inventory at $10, $12, and $15, under FIFO method, the inventory sold will be valued at $10 first.
Example: If the company sells 100 unit...
- Q4. Ind as 102 journal entries
- Ans.
Ind AS 102 journal entries are used to record share-based payments in financial statements.
Ind AS 102 requires companies to recognize share-based payments as an expense in their financial statements.
Journal entries for share-based payments typically involve debiting an expense account and crediting either equity or liability accounts.
For example, if a company grants stock options to employees, the journal entry would i...
(1 Question)
- Q1. Questions based off resume
Interview Preparation Tips
Selected
I applied via Company Website and was interviewed before Feb 2022. There were 4 interview rounds.
An online English assessment via Google Forms, MCQ. There were also essay-type of questions usually about dealing with certain workplace situations.
(2 Questions)
- Q1. Why do you want to join this company?
- Ans.
I want to join this company because of its strong reputation in the industry and its commitment to excellence in audit services.
The company has a strong reputation in the industry for providing high-quality audit services.
I am impressed by the company's commitment to excellence and continuous improvement in its audit processes.
The company offers great opportunities for professional growth and development.
I believe that...
- Q2. How did you showcase your leadership during college?
- Ans.
During college, I showcased my leadership through various extracurricular activities and group projects.
Served as the president of the Finance Club, organizing events and leading a team of members.
Led a group project in my accounting class, delegating tasks and ensuring timely completion.
Volunteered as a mentor for incoming freshmen, providing guidance and support.
Participated in a leadership development program, where...
(2 Questions)
- Q1. Tell me something about yourself.
- Ans.
I am a detail-oriented and analytical individual with a strong background in accounting and auditing.
I have a Bachelor's degree in Accounting and have completed internships at two reputable accounting firms.
I am proficient in using auditing software and have experience in conducting financial statement audits.
I have excellent analytical skills and attention to detail, which allows me to identify discrepancies and ensur...
- Q2. What do you know about the role you're applying for?
- Ans.
The role of an Audit Associate involves conducting financial audits and ensuring compliance with regulations.
Conducting financial audits to assess the accuracy and integrity of financial statements
Evaluating internal controls and identifying areas of risk
Preparing audit reports and communicating findings to clients
Assisting in the development of audit plans and procedures
Collaborating with audit teams and clients to ga...
Interview Preparation Tips
Top trending discussions
Interview questions from similar companies
I was interviewed in Sep 2024.
(3 Questions)
- Q1. What is assertion
- Ans.
Assertion is a claim or statement made by management regarding the financial statements.
Assertions are made by management to ensure the accuracy and completeness of financial statements.
There are different types of assertions such as existence, completeness, valuation, rights and obligations, etc.
For example, the assertion of existence would state that all reported assets and liabilities actually exist.
Auditors test th...
- Q2. What is materiality
- Ans.
Materiality is the concept of determining the significance or importance of an item or event in relation to financial statements.
Materiality helps auditors decide what information to focus on during an audit
It is based on the size, nature, and circumstances of an item or event
Materiality is subjective and can vary depending on the context
For example, a small error in a company's financial statements may not be consider...
- Q3. Different types of audit opinion
- Ans.
Different types of audit opinions include unqualified, qualified, adverse, and disclaimer.
Unqualified opinion: clean opinion, no material misstatements found
Qualified opinion: some limitations or scope restrictions, but overall financial statements are fairly presented
Adverse opinion: significant material misstatements found, financial statements are not fairly presented
Disclaimer opinion: auditor unable to form an opi...
Selected
I applied via Referral and was interviewed in Apr 2024. There were 2 interview rounds.
(1 Question)
- Q1. Difference in Forensic audit and Other audits?
- Ans.
Forensic audit focuses on investigating fraud and misconduct, while other audits focus on financial statements and compliance.
Forensic audit involves investigating fraud, embezzlement, and misconduct within an organization.
Other audits, such as financial statement audits and compliance audits, focus on verifying the accuracy of financial records and ensuring compliance with laws and regulations.
Forensic auditors often ...
(1 Question)
- Q1. What are recent financial scandals cases and how would you have investigated them
- Ans.
Recent financial scandals include Wirecard, Luckin Coffee, and Toshiba. Investigation would involve reviewing financial statements, conducting interviews, and analyzing internal controls.
Reviewing financial statements for inconsistencies and irregularities
Conducting interviews with key personnel and stakeholders
Analyzing internal controls and governance structures
Examining audit trails and transaction records
Utilizing ...
(1 Question)
- Q1. Tests managerial skills
(1 Question)
- Q1. General Questions
Selected
I applied via campus placement at Keshav Mahavidyalaya, Delhi and was interviewed before May 2023. There were 3 interview rounds.
Easy 4 sections general questions easily cleared
My topic was ev cars vs petrol cars. All were shortlisted.
(2 Questions)
- Q1. Why you want to join rsm
- Q2. What is suspense account
- Ans.
A suspense account is a temporary account used to record transactions for which there is uncertainty about the appropriate account to use.
Used when there is uncertainty about the correct account to use
Temporary holding place for transactions
Helps prevent errors in financial statements
Commonly used in accounting to temporarily hold transactions until they can be properly classified
Interview Preparation Tips
(1 Question)
- Q1. 115 questions step model
Interview Preparation Tips
Audit Associate Interview Questions & Answers
BDO RISE Private Limited
Anonymous
posted on 3 Jan 2023
Selected
I applied via LinkedIn and was interviewed in Dec 2022. There were 3 interview rounds.
(2 Questions)
- Q1. What is Materiality?
- Ans.
Materiality refers to the significance of an item or event in relation to financial statements.
Materiality is a concept used in auditing to determine the importance of an item or event in relation to financial statements.
It is used to determine whether an item or event is significant enough to affect the decision-making of users of financial statements.
Materiality is subjective and depends on the context of the financi...
- Q2. What is Audit Risk? Audit Procedure for an Account Balance Audit Procedure for Cash & Bank Balance
- Ans.
Audit risk is the risk that an auditor expresses an inappropriate opinion on financial statements.
Audit risk is the risk that the auditor may issue an incorrect opinion on the financial statements.
It is the risk that the auditor may fail to detect material misstatements in the financial statements.
Audit risk is composed of inherent risk, control risk, and detection risk.
Inherent risk is the risk of material misstatemen...
(1 Question)
- Q1. Same as 1 round with almost similar basic question based on Auditing
Interview Preparation Tips
Selected
I applied via Naukri.com and was interviewed before Feb 2022. There were 3 interview rounds.
(2 Questions)
- Q1. There were many technical questions asked regarding the audit procedures and controls
- Q2. Apart from technical questions, questions about yourself and family background were asked
(1 Question)
- Q1. No technical questions just general questions about yourself and family background
Interview Preparation Tips
- Auditing
- ind as
- Taxation
Interviewers are friendly people.
Dress appropriately and keep your camera on (in case of online interview).
If you don't know the answer just accept the fact and move to the next question. Don't get nervous.
I applied via Naukri.com and was interviewed in Aug 2020. There was 1 interview round.
Interview Questionnaire
2 Questions
- Q1. Difference between depn and amotisation?
- Ans.
Depreciation is the decrease in value of tangible assets while amortization is the decrease in value of intangible assets.
Depreciation is used for tangible assets like buildings, machinery, and equipment.
Amortization is used for intangible assets like patents, copyrights, and trademarks.
Depreciation is calculated based on the useful life of the asset.
Amortization is calculated based on the estimated useful life of the ...
- Q2. What is cash flow and bifurcate its activities?
- Ans.
Cash flow is the movement of money in and out of a business. It is bifurcated into operating, investing, and financing activities.
Cash flow is the net amount of cash and cash equivalents that flow in and out of a business.
Operating activities include cash inflows and outflows related to the day-to-day operations of the business, such as sales and expenses.
Investing activities include cash inflows and outflows related t...
Interview Preparation Tips
Grant Thornton Bharat Interview FAQs
Tell us how to improve this page.
Grant Thornton Bharat Interviews By Designations
- Grant Thornton Bharat Consultant Interview Questions
- Grant Thornton Bharat Senior Consultant Interview Questions
- Grant Thornton Bharat Assistant Manager Interview Questions
- Grant Thornton Bharat Associate Interview Questions
- Grant Thornton Bharat Audit Associate Interview Questions
- Grant Thornton Bharat Management Trainee Interview Questions
- Grant Thornton Bharat Senior Associate Interview Questions
- Grant Thornton Bharat Summer Intern Interview Questions
- Show more
Interview Questions for Popular Designations
Grant Thornton Bharat Audit Associate Interview Process
based on 2 interviews
Interview experience
Audit Associate Interview Questions from Similar Companies
Fast track your campus placements
Grant Thornton Bharat Audit Associate Reviews and Ratings
based on 3 reviews
Rating in categories
|
Consultant
259
salaries
|  ₹4.5 L/yr - ₹14 L/yr |
|
Assistant Manager
136
salaries
| ₹9 L/yr - ₹24 L/yr |
|
Senior Consultant
103
salaries
| ₹7.5 L/yr - ₹15.6 L/yr |
|
Manager
80
salaries
| ₹15 L/yr - ₹33.5 L/yr |
|
Associate Director
49
salaries
| ₹28 L/yr - ₹43.9 L/yr |
Deloitte
KPMG India
PwC
Ernst & Young
- Home >
- Interviews >
- Grant Thornton Bharat Interview Questions >
- Grant Thornton Bharat Audit Associate Interview Questions
