KPMG India Statutory Auditor Interview Questions and Answers

Q1. About the resume Articalship experience If you shifted firm why did you shift firm Attempts
Ans. I have done work in stat audit internal audit and tax audits etc. I shifted firm cause the wanted better experience Took 3 attempts etc.
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Q1. Tell me about taxation of trust, whether you can carry forward expenses, tell me the process of loan sanction,MAT etc 3CD section of tds tcs 5 Step of 115 Difference between rou and lease liability Why yo...read more
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The question covers topics such as taxation of trust, carry forward of expenses, loan sanction process, MAT, 3CD section of TDS TCS, 5 Step of 115, difference between ROU and lease liability, and reasons for joining the company and relocating to the city.
• Taxation of trust involves the taxation rules and regulations applicable to trusts and their income.

• Carry forward of expenses allows taxpayers to offset certain expens...read more
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Q1. Personality test Confidence Communication skills Assertions etc
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Q1. What are the technical questions in an interview
Ans. Technical questions are questions that are designed to assess your specific knowledge and skills related to technical aspects of a job
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Q2. These can include questions about programming languages, software tools,
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Q1. What is the difference between a provision and a reserve
Ans. 
Provisions are liabilities that are uncertain in timing or amount, while reserves are profits set aside for specific purposes.
• Provisions are made for known liabilities that are uncertain in timing or amount, such as bad debts or legal claims.

• Reserves are profits set aside for specific purposes, such as expansion, dividends, or contingencies.

• Provisions are charged against profits as expenses, while reserves are not char...read more
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Q1. Explain in detail about accounts
Ans. 
Accounts refer to the financial records of an organization that track its transactions and financial position.
• Accounts are used to record financial transactions such as sales, purchases, and expenses.

• They help in tracking the financial position of an organization by maintaining records of assets, liabilities, and equity.

• Accounts are classified into different categories such as revenue, expenses, assets, liabilities, an...read more
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Q2. Explain about gst and it's pro's and cons
Ans. 
GST is a value-added tax levied on goods and services in India.
• Pro's: Simplifies tax structure, reduces tax evasion, promotes ease of doing business

• Cons: Initial implementation challenges, increased compliance burden for small businesses

• Example: GST replaced multiple indirect taxes like VAT, service tax, excise duty, etc.

• Example: GST has different tax rates for different goods and services, ranging from 0% to 28%

• Exampl...read more
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GST
TYPE OF GST RETURN
RECONCIALATION

The assignment involved the analysis the business problem and providing the detailed solution.

The group discussion focused on the topic. The impact of remote on productivity each participant was given two mintues to present the view follow by the open decision..

We were analysis the situation and identify the key issue

Q1. Tell me something about your self
Ans. 
I am a detail-oriented and organized individual with a strong background in accounting and finance.
• Bachelor's degree in Accounting

• Experience with financial reporting and analysis

• Proficient in using accounting software such as QuickBooks

• Strong analytical skills and attention to detail

• Excellent communication and interpersonal skills
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Q2. Why do you want work here
Ans. 
I am passionate about finance and eager to learn from experienced professionals in this industry.
• I am drawn to the company's reputation for excellence in financial management.

• I am excited about the opportunity to work with a talented team and contribute to the company's success.

• I believe this role will provide me with valuable experience and help me grow in my career.
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Q3. What do you see yourself in 5 years
Ans. 
In 5 years, I see myself as a senior Account Assistant, taking on more responsibilities and contributing to the growth of the company.
• Continuing to excel in my role as an Account Assistant

• Taking on leadership roles within the accounting department

• Completing additional certifications or training to enhance my skills

• Contributing to the company's financial success through strategic decision-making

• Mentoring junior staff me
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Q4. Why should we hiring you
Ans. 
I am a detail-oriented and organized individual with a strong background in accounting and a proven track record of accuracy and efficiency.
• I have a Bachelor's degree in Accounting and X years of experience in the field.

• I am proficient in using accounting software such as QuickBooks and Excel.

• I have a strong attention to detail and can ensure accurate financial records.

• I am a team player and can effectively communicate...read more
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Q5. What motivate you at work
Ans. 
I am motivated at work by the opportunity to learn and grow, the satisfaction of completing tasks successfully, and the positive impact I can make on the team and organization.
• Opportunity to learn and grow

• Satisfaction of completing tasks successfully

• Positive impact on team and organization
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Q1. What is Audit risk and it's types
Ans. 
Audit risk is the risk that an auditor expresses an inappropriate opinion on financial statements. It has two types: inherent and control risk.
• Audit risk is the risk that an auditor will not detect material misstatements in the financial statements.

• Inherent risk is the risk of material misstatement in the absence of any internal control.

• Control risk is the risk that a material misstatement will not be prevented or dete...read more
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Q2. Different types of Audit assertion
Ans. 
Audit assertions are the claims made by management regarding the financial statements.
• Existence or occurrence - assets and liabilities exist and transactions have occurred

• Completeness - all transactions and accounts have been recorded

• Valuation or allocation - assets, liabilities, revenues, and expenses are valued appropriately

• Rights and obligations - the entity has legal rights to assets and liabilities

• Presentation and...read more
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