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KPMG India Audit Associate Interview Questions and Answers
6 Interview questions
No, land is not depreciated as it is considered to have an indefinite useful life.
Land is not subject to depreciation because it is considered to have an indefinite useful life.
Depreciation is only applicable to assets that have a limited useful life, such as buildings or machinery.
The cost of land is typically not allocated over time like other assets, but rather recorded at its original cost on the balance sheet...
Entry for bad debts is made to reflect the amount of accounts receivable that are unlikely to be collected.
Bad debts are recorded as an expense on the income statement.
The entry typically involves debiting the bad debt expense account and crediting the accounts receivable account.
It is important to regularly review and adjust the bad debt allowance to reflect the most accurate estimate of uncollectible accounts.
Ex...
Auditing is the process of examining and verifying financial records to ensure accuracy and compliance with laws and regulations.
Auditing involves reviewing financial statements, records, and transactions.
The goal of auditing is to provide assurance that financial information is accurate and reliable.
Auditors may also identify areas for improvement in financial reporting and internal controls.
Examples of audits in...
Materiality and PM refer to the concept of significance in auditing, with materiality being the threshold for financial information to be considered important and PM being the performance materiality set below materiality.
Materiality is the threshold at which financial information becomes significant enough to influence the decisions of users of the financial statements.
Performance materiality (PM) is set below ma...
What people are saying about KPMG India
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
The golden rules include: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.
These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.
For example, when a company rece...
Audit risks include inherent risk, control risk, and detection risk.
Inherent risk: risk of material misstatement without considering internal controls
Control risk: risk that internal controls will not prevent or detect material misstatements
Detection risk: risk that audit procedures will not detect material misstatements
Examples: Inherent risk - complexity of transactions, Control risk - ineffective segregation of...
KPMG India Audit Associate Interview Experiences
20 interviews found
Anonymous
I appeared for an interview in Nov 2024.
It was good and easy also
(1 Question)
- Q1. Golden rules of Accounting
- Ans.
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
The golden rules include: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.
These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.
For example, when a company receives ...
(2 Questions)
- Q1. Types of audit risks
- Ans.
Audit risks include inherent risk, control risk, and detection risk.
Inherent risk: risk of material misstatement without considering internal controls
Control risk: risk that internal controls will not prevent or detect material misstatements
Detection risk: risk that audit procedures will not detect material misstatements
Examples: Inherent risk - complexity of transactions, Control risk - ineffective segregation of duti...
- Q2. What is materiality and PM?
- Ans.
Materiality and PM refer to the concept of significance in auditing, with materiality being the threshold for financial information to be considered important and PM being the performance materiality set below materiality.
Materiality is the threshold at which financial information becomes significant enough to influence the decisions of users of the financial statements.
Performance materiality (PM) is set below materia...
(1 Question)
- Q1. Bank procedures
I appeared for an interview in Feb 2025, where I was asked the following questions.
- Q1. Tell me about yourself?
- Q2. Strenght and weakness
Sojoud Bashir
Selected
I applied via Walk-in and was interviewed in May 2024. There was 1 interview round.
(1 Question)
- Q1. Where di u see yourself in 5 years
- Ans.
In 5 years, I see myself as a senior audit associate leading a team and taking on more complex projects.
Continuing to develop my skills and knowledge in auditing
Taking on more responsibilities and leadership roles within the team
Working towards obtaining relevant certifications such as CPA or CIA
Building strong relationships with clients and colleagues
Contributing to the growth and success of the audit department
Selected
I appeared for an interview before Apr 2024, where I was asked the following questions.
- Q1. Resume short list and assessment through consultant
- Q2. In technical round Intro BRS Depreciation and types Journal entry for share issue Cash book types Provision and reserve difference Bad debts meaning case study where i shuld listen and answer Then 2 3 beha...
Debjit Dutta
Selected
I applied via Recruitment Consulltant and was interviewed in Sep 2022. There were 4 interview rounds.
The aptitude test was conducted in 3 parts. Last level was email writing
(1 Question)
- Q1. Asked about myself. Some questions were asked related to my background. (commerce)
(1 Question)
- Q1. HR was asked something about myself, discussed about Salary structure and role in my last organisation.
Interview Preparation Tips
I applied via Campus Placement and was interviewed in Jul 2022. There were 2 interview rounds.
It had 3 sections maths and reasoning, English and accounts
(2 Questions)
- Q1. They just asked the basic accounting related questions
- Q2. Then they asked have u encountered a leadership role
Interview Preparation Tips
I applied via Referral and was interviewed in Jul 2022. There were 2 interview rounds.
Brush up the basics of quants, Verbal and Finance and Accounting
(3 Questions)
- Q1. 1) Basic details about yourself.
- Q2. 2)Concepts related to finance and accounts
- Q3. 3) Questions related to the job role
Interview Preparation Tips
- Accounting
- Financial Management
- Auditing
I applied via Recruitment Consulltant and was interviewed in Jul 2022. There were 4 interview rounds.
Aptitude test was from AMCAT and questions were basically asked from logical ability email writing financial and accounting and English comprehensive
(1 Question)
- Q1. Technical round went around half and hour and i was asked mostly behavioural questions and case study based questions and some basic accounting questions then we had a little conversation about my profil...
- Ans. There were around 4 behavioural questions 2 case study questions 5 to 6 accounting questions
(1 Question)
- Q1. Salary discussion and basic intro based questions
Interview Preparation Tips
Have some basic accounting knowledge
(2 Questions)
- Q1. What if two managers want to you do different task at the same time
- Ans.
I would prioritize tasks, communicate with both managers, and seek a collaborative solution to manage expectations effectively.
Assess the urgency and importance of each task to determine priorities.
Communicate with both managers to clarify expectations and deadlines.
Propose a timeline that accommodates both tasks, if possible.
If necessary, seek assistance or delegate tasks to ensure timely completion.
Example: If one ma...
- Q2. Inform both about the situation Prioritize
Interview Preparation Tips
KPMG India Interview FAQs
The duration of KPMG India Audit Associate interview process can vary, but typically it takes about less than 2 weeks to complete.
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Consultant
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