Any conflicting matter between ur Audit team and management of the company and how you resolved it

Question

Accepted Answer

Resolved a conflict between audit team and management regarding revenue recognition policy

Audit team identified potential revenue recognition issues in the financial statements
Management disagreed with the audit team's findings and argued that their policy was in compliance with accounting standards
I facilitated a meeting between the two parties to discuss the issue and review the relevant accounting standards
After careful review and discussion, we agreed to revise the revenue recognition policy to align with the accounting standards
The revised policy was implemented and the financial statements were restated accordingly

Accepted Answer

Managed as per company policy

Accepted Answer

The revised policy was implemented and the financial statements were restated accordingly

Accepted Answer

Resolved a conflict between audit team and management regarding revenue recognition policy

Audit team identified potential revenue recognition issues in the financial statements
Management disagreed with the audit team's findings and argued that their policy was in compliance with accounting standards
I facilitated a meeting between the two parties to discuss the issue and review the relevant accounting standards
After careful review and discussion, we agreed to revise the revenue recognition policy to align with the accounting standards
The revised policy was implemented and the financial statements were restated accordingly

Accepted Answer

Conflict normally stem from lack of communication, misunderstanding, misinterpretation, lack of experience, close mindedness etc.

Top Hindustan Coca Cola Beverages Corporate Finance interview questions & answers