Haribhakti & Co Interview Questions and Answers

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

• Completed internships at accounting firms

• Strong understanding of auditing principles

• Proficient in financial analysis and reporting
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Q2. Ind As related questions and entire CV based questions
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Q3. WHAT IS MATERIALITY?
Ans. 
Materiality is the concept of determining the significance or importance of an item or event in relation to the 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

• Examples include large dollar amounts, significant errors, and key transaction
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Q4. HOW TO CALCULATE MATERIALITY?
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Materiality is calculated based on factors like size, nature, and risk of the financial statements.
• Determine the base amount for materiality (e.g. total assets, total revenue)

• Apply a percentage to the base amount to calculate materiality threshold (e.g. 5% of total assets)

• Consider qualitative factors like the nature of the entity, industry regulations, and potential impact on users of the financial statements

• Adjust mat...read more
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Q5. HOW TO DO AUDIT OF COMPANY?
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Audit of a company involves examining financial records, internal controls, and compliance with regulations.
• Understand the company's business operations and industry standards

• Review financial statements and supporting documents

• Assess internal controls and identify any weaknesses

• Test transactions for accuracy and completeness

• Ensure compliance with laws and regulations

• Prepare audit reports with findings and recommendatio
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Q1. Ind as 115 109 as
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Q1. There were general questions like 1. Tell me about yourself (mandatory questions) 2. Family background 3. My attempt and marks 4. My 10th and 12th maths marks 5. Why CA 6. Preferred field Interview was ...read more
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Q1. This round was more of a general discussion round rather than a technical round. Even you don't need to prepare for the interview They just need the cheap articles and they will take you forsure
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Q2. General questions were there if you are an article you don't need to prepare anything just chill and relax and be confident that's it 😉
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Detailed test followed by onterview

Q1. Auditing standards related questions were asked
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Q2. Accounting standards related questions were asked
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