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KPMG India Senior Associate 1 Interview Questions and Answers
KPMG India Senior Associate 1 Interview Experiences
2 interviews found
I applied via Naukri.com and was interviewed in Aug 2022. There were 2 interview rounds.
(2 Questions)
- Q1. Can you tell me about IFRS 15
- Ans.
IFRS 15 is a revenue recognition standard that outlines a single comprehensive model for entities to use in accounting for revenue.
IFRS 15 replaces all existing revenue recognition guidance under IFRS
It provides a five-step model for recognizing revenue
The five steps are: identify the contract, identify the performance obligations, determine the transaction price, allocate the transaction price, and recognize revenue w...
- Q2. How to audit cost of sales
- Ans.
Auditing cost of sales involves verifying the accuracy and completeness of expenses related to producing and selling goods or services.
Reviewing invoices and receipts for direct materials, labor, and overhead costs
Comparing actual costs to budgeted or standard costs
Testing the accuracy of inventory valuation and cost of goods sold calculations
Evaluating the effectiveness of internal controls over cost of sales
Analyzing...
Interview Preparation Tips
Selected
I applied via Referral and was interviewed before Sep 2022. There were 4 interview rounds.
(1 Question)
- Q1. Experience related questions why KPMG not other big 4
(2 Questions)
- Q1. Subject related questions
- Q2. Audit related questions- Assertions of many balance sheet items
(2 Questions)
- Q1. My interview was for audit profile- Assertions type of questions asked. My previous experience related questions.
- Q2. How to audit cash, prepare reconciliation, A/R, PPE assertions type of question asked
- Ans.
Auditing cash, preparing reconciliations, and assessing A/R and PPE assertions.
Start by obtaining the cash balance from the general ledger and comparing it to the bank statement.
Perform bank reconciliations to ensure all transactions are accurately recorded.
For accounts receivable, confirm balances with customers and assess the allowance for doubtful accounts.
For property, plant, and equipment (PPE), review the depreci...
Interview Preparation Tips
Interview questions from similar companies
Selected
I applied via Company Website and was interviewed in Apr 2024. There were 2 interview rounds.
(1 Question)
- Q1. Where do you see yourself in 5 years?
(1 Question)
- Q1. When can you join the company?
Selected
I applied via Approached by Company and was interviewed in Sep 2023. There were 2 interview rounds.
(1 Question)
- Q1. What are audit assertions, audit opinions, test of details and teat of controls
(1 Question)
- Q1. They will discuss ctc. Will try their best to low ball you.
Interview Preparation Tips
- Audit assertions
- Audit Report
- Ind as 115
- Substantive tests
- Test of controls
Senior Associate 1 Interview Questions & Answers
KPMG Global Services
Anonymous
posted on 8 Mar 2024
Selected
I applied via Naukri.com and was interviewed before Mar 2023. There was 1 interview round.
(1 Question)
- Q1. Fundamental Audit Questions like , What are the Assertions, how would you audit a particular line item. Impact of a transaction over the CASH flow. What are the audit opinions type and meaning . When to ...
Interview Preparation Tips
Fundamental Audit questions like Assertions, Audit of any financial line Item.
Impact of transactions on cash flow statement.
Big achievements based on your past experience.
Why KMPG.
I applied via LinkedIn and was interviewed in Jan 2022. There was 1 interview round.
(1 Question)
- Q1. Interviewer gave me a case scenario in which i had to describe the internal controls i checked during audit and my observation and the checklist i made alongwith the SAs in which it got covered. Also some ...
Interview Preparation Tips
- Auditing
- Taxation
- Accounting
(1 Question)
- Q1. Basic questions
(2 Questions)
- Q1. PPO questions asked
- Q2. PPO questions asked on 2nd
Interview Preparation Tips
Senior Associate 1 Interview Questions & Answers
KPMG Global Services
Anonymous
posted on 9 Sep 2023
Selected
I applied via Referral and was interviewed before Sep 2022. There were 3 interview rounds.
(1 Question)
- Q1. Experience related questions, why kpmg
(4 Questions)
- Q1. Assertion of audit, past experience
- Q2. What is risk. How to handle
- Ans.
Risk is the potential of gaining or losing something of value. Handling risk involves identifying, assessing, and managing potential risks.
Risk is the uncertainty of outcome, whether positive or negative.
Identify and assess potential risks by analyzing the likelihood and impact of each risk.
Manage risks by developing strategies to mitigate, transfer, or accept them.
Examples of risk management strategies include insuran
- Q3. What is standardization
- Ans.
Standardization is the process of implementing and developing technical standards for consistency and uniformity.
Standardization ensures consistency and uniformity in processes, products, or services.
It helps in improving quality, efficiency, and interoperability.
Examples include standardizing protocols for communication, manufacturing processes, or data formats.
- Q4. CARO related questions, fixed asset audit
Interview Preparation Tips
- Assertions
I applied via Recruitment Consulltant and was interviewed in Jan 2024. There was 1 interview round.
(1 Question)
- Q1. Explain consultant role in Banking
- Ans.
Consultants in banking provide expert advice and solutions to financial institutions to improve their operations and achieve their goals.
Consultants analyze banking processes and identify areas for improvement.
They develop strategies and recommendations to optimize efficiency and reduce costs.
Consultants assist in implementing new technologies and systems to enhance banking operations.
They provide guidance on regulator...
It was not very different from other interviews
(1 Question)
- Q1. Explain the structure of M3 of the 1065
- Ans.
M3 of the 1065 refers to the third member's capital account in a partnership tax return form.
M3 is a section in Form 1065 where the partnership reports the tax basis capital accounts of its partners.
It includes adjustments for income, deductions, contributions, distributions, and other items that affect the partners' tax basis.
The M3 schedule reconciles the partners' capital accounts from the beginning to the end of th...
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KPMG India Senior Associate 1 Interview Process
based on 4 interviews
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KPMG India Senior Associate 1 Reviews and Ratings
based on 13 reviews
Rating in categories
|
Consultant
7.6k
salaries
|  ₹7 L/yr - ₹26.5 L/yr |
|
Assistant Manager
6.9k
salaries
| ₹10.8 L/yr - ₹32.2 L/yr |
|
Associate Consultant
4.6k
salaries
| ₹4.5 L/yr - ₹15.7 L/yr |
|
Analyst
3.5k
salaries
| ₹1 L/yr - ₹9.6 L/yr |
|
Manager
2.9k
salaries
| ₹12 L/yr - ₹50 L/yr |
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