KPMG India Internal Auditor Interview Questions, Process, and Tips

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Q1. What do you understand by Audit
Ans. 
Audit is a systematic examination of financial records, documents, transactions, and processes to ensure accuracy and compliance.
• Audit involves reviewing and evaluating financial statements and records

• It ensures compliance with laws, regulations, and company policies

• Auditors provide an independent and objective assessment of an organization's financial health

• Types of audits include internal, external, financial, operat...read more
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Q2. Types of auditor
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Types of auditors include internal auditors, external auditors, government auditors, and forensic auditors.
• Internal auditors work within an organization to evaluate and improve internal controls.

• External auditors are independent professionals who review an organization's financial statements for accuracy and compliance.

• Government auditors work for government agencies to ensure compliance with laws and regulations.

• Foren...read more
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Q1. Tell us about yourself a bit
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Q2. Do you have any prior experience in internal auditing
Ans. 
Yes, I have 5 years of experience in internal auditing in the banking industry.
• I have 5 years of experience in internal auditing in the banking industry

• Conducted regular audits to ensure compliance with regulations

• Identified and addressed financial risks within the organization

• Prepared detailed audit reports for management review
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Q1. What was your role in your previous organization
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Q2. Tell us about your top audit issues highlighted by you
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Q1. What is auditing?
Ans. 
Auditing is the process of evaluating an organization's financial records, internal controls, and compliance with regulations.
• Auditing involves examining financial statements and records to ensure accuracy and compliance.

• It also includes assessing internal controls to prevent fraud and errors.

• Auditors provide independent and objective assessments to help improve processes and ensure transparency.

• Examples include financ...read more
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Q1. What is Cash flow?
Ans. 
Cash flow is the movement of money in and out of a business, showing how much cash is generated or spent over a specific period of time.
• Cash flow is crucial for assessing a company's financial health and liquidity.

• Positive cash flow means more money is coming in than going out, while negative cash flow indicates the opposite.

• Examples of cash flow include revenue from sales, operating expenses, investments, and financin
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