JHS & Associates LLP Senior Internal Auditor Interview Questions and Answers

Q1. Deferred Tax Asset or Liability
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Q2. Ind as 115 revenue recognition
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No any aptitude test

Only xl formulas, and pivot table.

Basic group chats on what's app nd on google teem .

Internal audit provide for other company's, and assat audit provide for other company's.

Physical , soft copy, and chack certificate etc.

Q1. Are you immediately join ?
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Q2. Are you full time job joiner?
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Q1. Basic Laptop user?
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Yes, I am a basic laptop user with proficiency in common applications and tasks.
• Proficient in using Microsoft Office suite (Word, Excel, PowerPoint)

• Able to browse the internet and use email

• Comfortable with basic troubleshooting and settings adjustments

• Familiar with file management and organization

• May have limited knowledge of more advanced software or technical tasks
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Q2. Why are you find this job?
Ans. Because my intrest in a commercial audit
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Q1. What about your self?
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Q2. What about aspects salary?
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Q3. What is your study from?
Ans. Say, that my course and my degree's.
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Q4. And manager say your training is 6 month, so you interested?
Ans. Don't only confirmed to the wise manager, please confirm to hr,That's really 6 month or 12 month training time and confirm that only on the mail .
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Q1. About Concurrent audit
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Q2. Concurrent audit relatable qouestions once u google it will help
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Q1. Question were asked within the domain!
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Q2. Major observations during Articleship period
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Learned about financial statement preparation, audit procedures, and client communication.
• Assisted in the preparation of financial statements for clients

• Conducted audit procedures such as testing internal controls and verifying account balances

• Communicated with clients to gather necessary information and provide updates on audit progress

• Learned about the importance of professional skepticism and attention to detail in
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Q1. Internal Audit process of Manufacturing company
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Internal audit process of a manufacturing company involves evaluating the effectiveness of internal controls, risk management, and compliance.
• Assessing the adequacy of inventory controls

• Reviewing production processes for efficiency and effectiveness

• Evaluating compliance with environmental regulations

• Assessing the effectiveness of quality control measures

• Reviewing financial controls and transactions

• Evaluating the effect...read more
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Q1. Just a quick interaction via Microsoft teams
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Q1. Introduce yourself
Ans. 
Experienced auditor with a strong attention to detail and analytical skills.
• Over 5 years of experience in auditing financial records

• Proficient in conducting risk assessments and identifying control weaknesses

• Strong communication skills to effectively communicate findings to stakeholders
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Q2. Audit procedures for inventory
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Audit procedures for inventory involve physical counts, observation of inventory movements, and reconciliation with financial records.
• Conduct physical counts of inventory to verify quantities on hand

• Observe inventory movements to ensure proper recording and valuation

• Reconcile inventory counts with financial records to identify discrepancies

• Perform test counts to validate accuracy of inventory records

• Review inventory va
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Q1. About Previous Company's experience & what kind of Job have done there
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Q2. Process of P2P, O2C
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P2P (Procure to Pay) and O2C (Order to Cash) are two important processes in business operations.
• P2P involves the procurement of goods or services, from requisition to payment.

• O2C involves the entire process from receiving a customer order to receiving payment.

• P2P includes steps like requisition, purchase order creation, goods receipt, invoice verification, and payment.

• O2C includes steps like order entry, order fulfillm...read more
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Q3. Details of Observation you have find
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Q1. Audit on bank and NBFC
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The aptitude test was 60 mins they had sent us a link and we were supposed to complete the test anytime before the deadline.
The test was actually pretty easy.
If you are preparing for MBA then you are also preparing for this aptitude test .
Following things were tested
Maths
interpretation skills
English
and if you want more details you can check on google there are many websites that can help.

Q1. How will you improve E-commerce
Ans. 
Improving E-commerce through personalized experiences, streamlined checkout process, and enhanced security measures.
• Implement personalized product recommendations based on user browsing and purchase history

• Simplify checkout process with one-click payment options and guest checkout

• Enhance security measures with two-factor authentication and fraud detection technology

• Offer flexible delivery options such as same-day or ne...read more
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Q2. How will you internally audit your campus? please properly prepare for this question
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Q3. Golden ratio GST difference between p&l and Balance sheet
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The question is asking for the difference between P&L and Balance Sheet and the concept of golden ratio GST.
• P&L shows the company's revenue and expenses over a period of time, while the balance sheet shows the company's assets, liabilities, and equity at a specific point in time.

• Golden ratio GST is a mathematical concept used to determine the optimal tax rate for maximum revenue.

• P&L is used to determine the company's p...read more
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