Kpmg Resource Centre Audit Associate 2 Interview Questions and Answers

Q1. Please introduce yourself
Ans. 
I am a highly motivated Audit Associate with experience in financial auditing and a strong attention to detail.
• I have a Bachelor's degree in Accounting and have completed internships at two reputable accounting firms.

• I am proficient in using auditing software and have a strong understanding of financial regulations and compliance.

• I have successfully conducted audits for various clients, identifying and resolving discre...read more
Answered by AI
Add your answer
Q2. What is your strength and weakness
Ans. 
My strength is attention to detail and my weakness is public speaking.
• Strength: I have a strong attention to detail and am able to spot even the smallest errors or discrepancies. This helps me ensure accuracy and thoroughness in my work.

• Weakness: Public speaking is a challenge for me. I tend to get nervous and struggle with articulating my thoughts effectively in front of a large audience.

• Example for strength: In my pr...read more
Answered by AI
Add your answer

Q1. Case study on Ind as 115. Timing of recognition as revenue of Amount provided for training employees for a specific assignment
Ans. 
Under Ind AS 115, revenue for training employees for a specific assignment should be recognized when the training services are provided.
• Revenue should be recognized over time as the training services are provided.

• The amount provided for training employees should be allocated to each period based on the progress of the training.

• The timing of revenue recognition should align with the timing of when the training services ...read more
Answered by AI
Add your answer
Q2. Ind as 116 case study
Add your answer
Q3. Ind as 2 calculation of inventory cost as per fifo
Ans. 
Ind AS 2 requires inventory cost to be calculated using the FIFO method.
• Under FIFO method, the oldest costs are assigned to inventory first.

• Cost of goods sold is calculated using the oldest costs first.

• Ending inventory is valued at the most recent costs.

• Example: If a company purchases inventory at $10, $12, and $15, under FIFO method, the inventory sold will be valued at $10 first.

• Example: If the company sells 100 unit...read more
Answered by AI
Add your answer
Q4. Ind as 102 journal entries
Ans. 
Ind AS 102 journal entries are used to record share-based payments in financial statements.
• Ind AS 102 requires companies to recognize share-based payments as an expense in their financial statements.

• Journal entries for share-based payments typically involve debiting an expense account and crediting either equity or liability accounts.

• For example, if a company grants stock options to employees, the journal entry would i...read more
Answered by AI
Add your answer

Q1. Questions based off resume
Add your answer

Q1. What is assertion
Ans. 
Assertion is a claim or statement made by management regarding the financial statements.
• Assertions are made by management to ensure the accuracy and completeness of financial statements.

• There are different types of assertions such as existence, completeness, valuation, rights and obligations, etc.

• For example, the assertion of existence would state that all reported assets and liabilities actually exist.

• Auditors test th...read more
Answered by AI
Add your answer
Q2. What is materiality
Ans. 
Materiality is the concept of determining the significance or importance of an item or event in relation to financial statements.
• Materiality helps auditors decide what information to focus on during an audit

• It is based on the size, nature, and circumstances of an item or event

• Materiality is subjective and can vary depending on the context

• For example, a small error in a company's financial statements may not be consider...read more
Answered by AI
Add your answer
Q3. Different types of audit opinion
Ans. 
Different types of audit opinions include unqualified, qualified, adverse, and disclaimer.
• Unqualified opinion: clean opinion, no material misstatements found

• Qualified opinion: some limitations or scope restrictions, but overall financial statements are fairly presented

• Adverse opinion: significant material misstatements found, financial statements are not fairly presented

• Disclaimer opinion: auditor unable to form an opi...read more
Answered by AI
Add your answer

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 ?
Add your answer
Q2. Are you full time job joiner?
Add your answer

Q1. Basic Laptop user?
Ans. 
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
Answered by AI
View 1 more answer
Q2. Why are you find this job?
Ans. Because my intrest in a commercial audit
Answered Anonymously
Add your answer

Q1. What about your self?
Add your answer
Q2. What about aspects salary?
Add your answer
Q3. What is your study from?
Ans. Say, that my course and my degree's.
Answered Anonymously
Add your answer
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 .
Answered Anonymously
Add your answer

Q1. Difference in Forensic audit and Other audits?
Ans. 
Forensic audit focuses on investigating fraud and misconduct, while other audits focus on financial statements and compliance.
• Forensic audit involves investigating fraud, embezzlement, and misconduct within an organization.

• Other audits, such as financial statement audits and compliance audits, focus on verifying the accuracy of financial records and ensuring compliance with laws and regulations.

• Forensic auditors often ...read more
Answered by AI
Add your answer

Q1. What are recent financial scandals cases and how would you have investigated them
Ans. 
Recent financial scandals include Wirecard, Luckin Coffee, and Toshiba. Investigation would involve reviewing financial statements, conducting interviews, and analyzing internal controls.
• Reviewing financial statements for inconsistencies and irregularities

• Conducting interviews with key personnel and stakeholders

• Analyzing internal controls and governance structures

• Examining audit trails and transaction records

• Utilizing ...read more
Answered by AI
Add your answer

Q1. Self introducation
Add your answer
Q2. Basic computer knoweldege
Add your answer
Q3. Where are you from
Add your answer
Q4. What is your educati૦n
Add your answer
Q5. What is your experince
Ans. 
I have 5 years of experience working as an auditor in a public accounting firm.
• Performed financial audits for various clients to ensure compliance with regulations

• Conducted risk assessments and identified areas for improvement in internal controls

• Prepared detailed audit reports and communicated findings to management

• Collaborated with cross-functional teams to address audit issues and implement solutions
Answered by AI
Add your answer

Q1. Basic interview
Add your answer

Q1. Just basic questions based on your resume
Add your answer

Q1. They'll just ask few basic questions about subjects.
Add your answer

Q1. 1 Director take direct interview after clear HR round 2 easy to crack in they needed then will easily shortlisted especially in Audit Department
Add your answer

Q1. Asked Job responsibility question
Add your answer