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I applied via Walk-in and was interviewed in Jul 2024. There was 1 interview round.
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
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
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...
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
I applied via Referral and was interviewed in Jan 2023. There were 3 interview rounds.
Detailed test followed by onterview
Haribhakti & Co interview questions for popular designations
The three lines of defence refer to the roles and responsibilities of different functions within an organization to manage risks effectively.
First line of defence: Operational management responsible for identifying, assessing, and managing risks on a day-to-day basis.
Second line of defence: Risk management and compliance functions that oversee and support the first line by establishing policies, procedures, and control...
I applied via Referral
I applied via Walk-in and was interviewed before Nov 2023. There was 1 interview round.
AS2 is a standard for secure data transmission between businesses, with audit considerations including data integrity, authentication, and non-repudiation.
AS2 stands for Applicability Statement 2
It is a protocol used for secure and reliable data transmission over the internet
Audit considerations include ensuring data integrity during transmission
Authentication of the sender and receiver to prevent unauthorized access
No...
Audit standard refers to the set of guidelines and criteria that auditors must follow while conducting an audit.
Audit standard ensures consistency and quality in audit processes.
It provides a framework for auditors to plan, perform, and report on their findings.
Examples of audit standards include International Standards on Auditing (ISA) and Generally Accepted Auditing Standards (GAAS).
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