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Lunia Singh Mohanty & Co Senior Audit Manager Interview Questions and Answers

Updated 8 Dec 2023

Lunia Singh Mohanty & Co Senior Audit Manager Interview Experiences

1 interview found

Interview experience
3
Average
Difficulty level
Easy
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Recruitment Consulltant and was interviewed before Dec 2022. There were 3 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Keep your resume crisp and to the point. A recruiter looks at your resume for an average of 6 seconds, make sure to leave the best impression.
View all tips
Round 2 - Aptitude Test 

Basic questions related to the position you apply for.

Round 3 - One-on-one 

(2 Questions)

  • Q1. What domains are you comfortable working in?
  • Q2. These are your salary, work timings, etc. When are you ready to join?

Interview Preparation Tips

Topics to prepare for Lunia Singh Mohanty & Co Senior Audit Manager interview:
  • Taxation
  • Accounting
  • GST
  • Accounting Standards
Interview preparation tips for other job seekers - No PF, ESI, poor increments, toxic management culture. Work at your own discretion.

Interview questions from similar companies

Interview experience
4
Good
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I was interviewed before Feb 2023.

Round 1 - One-on-one 

(1 Question)

  • Q1. Latest changes in current account opening process
  • Ans. 

    The latest changes in the current account opening process involve implementing digital onboarding and enhanced security measures.

    • Implementation of digital onboarding to streamline the process and reduce paperwork

    • Enhanced security measures such as biometric verification or two-factor authentication

    • Integration of AI and machine learning for fraud detection and risk assessment

  • Answered by AI
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Approached by Company and was interviewed in Jan 2024. There were 4 interview rounds.

Round 1 - HR 

(1 Question)

  • Q1. Standard discussion to judge skills and communication
Round 2 - Technical 

(2 Questions)

  • Q1. Basics of itgc and BCM
  • Q2. Past experience
Round 3 - Technical 

(1 Question)

  • Q1. Detailed Internal audit
Round 4 - HR 

(1 Question)

  • Q1. Salary discussion

Interview Preparation Tips

Topics to prepare for HCLTech Auditor interview:
  • Basics of internal audits
Interview experience
3
Average
Difficulty level
Moderate
Process Duration
2-4 weeks
Result
Selected Selected

I applied via Referral and was interviewed in Aug 2023. There were 3 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Keep your resume crisp and to the point. A recruiter looks at your resume for an average of 6 seconds, make sure to leave the best impression.
View all tips
Round 2 - Technical 

(3 Questions)

  • Q1. What are the processes you had covered in your articleship?
  • Q2. What are the key risk areas and give an explain ?
  • Ans. 

    Key risk areas for an internal auditor include fraud, compliance, operational, financial, and cybersecurity risks.

    • Fraud risk: Misappropriation of assets, financial statement fraud, corruption.

    • Compliance risk: Failure to comply with laws and regulations, industry standards.

    • Operational risk: Inefficiencies, errors, lack of internal controls.

    • Financial risk: Mismanagement of funds, inaccurate financial reporting.

    • Cybersecur...

  • Answered by AI
  • Q3. What are the assertions, explain it
  • Ans. 

    Assertions are the representations by management in financial statements regarding the accuracy and completeness of information.

    • Assertions include existence, completeness, rights and obligations, valuation or allocation, and presentation and disclosure.

    • Existence - assets and liabilities exist at a given date

    • Completeness - all transactions and accounts that should be included are included

    • Rights and obligations - entity ...

  • Answered by AI
Round 3 - Behavioral 

(4 Questions)

  • Q1. Which clients you worked on, what was the findings on the assignment?
  • Q2. What clients expect from consultancy firms in regards to internal audit prospective?
  • Ans. 

    Clients expect consultancy firms to provide expertise, objectivity, efficiency, and value in internal audit services.

    • Expertise in industry best practices and regulations

    • Objectivity in assessing risks and controls

    • Efficiency in conducting audits and delivering timely reports

    • Value in providing actionable recommendations for improvement

    • Examples: detailed audit plans, thorough risk assessments, clear communication of findin

  • Answered by AI
  • Q3. What is test of effectiveness and design ?
  • Ans. 

    Test of effectiveness and design is a process used to evaluate the efficiency and adequacy of controls in place.

    • Test of effectiveness assesses whether controls are operating as intended.

    • Test of design evaluates the adequacy of controls to address risks.

    • Examples include testing the effectiveness of access controls by attempting unauthorized access, and testing the design of segregation of duties controls by reviewing jo...

  • Answered by AI
  • Q4. What can affect TOD and TOE of controls?
  • Ans. 

    Various factors such as changes in regulations, technology, business processes, and personnel can affect the design and operating effectiveness of controls.

    • Changes in regulations can impact the design and operating effectiveness of controls by requiring updates to comply with new laws or standards.

    • Advancements in technology may render existing controls obsolete or ineffective, necessitating enhancements or replacements...

  • Answered by AI

Interview Preparation Tips

Topics to prepare for Genpact Internal Auditor interview:
  • Internal Audit
  • SOX Compliance
  • assertion
  • ifc testing
Interview preparation tips for other job seekers - be confident and have a strong hold on technical knowledge.

Auditor Interview Questions & Answers

TCS user image Badal Johry

posted on 22 Apr 2024

Interview experience
5
Excellent
Difficulty level
Easy
Process Duration
Less than 2 weeks
Result
Selected Selected

I was interviewed in Mar 2024.

Round 1 - One-on-one 

(2 Questions)

  • Q1. What do you about compliance
  • Ans. 

    Compliance refers to following laws, regulations, policies, and standards to ensure ethical and legal business practices.

    • Compliance involves adhering to laws, regulations, and industry standards relevant to the organization's operations.

    • It includes implementing policies and procedures to prevent violations and ensure ethical conduct.

    • Regular audits and monitoring are conducted to assess compliance and identify areas for...

  • Answered by AI
  • Q2. Types of complaince
  • Ans. 

    Types of compliance refer to different categories of rules and regulations that organizations must adhere to.

    • Regulatory compliance - following laws and regulations set by government authorities

    • Industry compliance - adhering to specific standards and guidelines within a particular industry

    • Internal compliance - following company policies and procedures

    • Data compliance - ensuring the protection and privacy of data

    • Financial...

  • Answered by AI
Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - One-on-one 

(1 Question)

  • Q1. Related to Audit and Banking

Interview Preparation Tips

Interview preparation tips for other job seekers - Perfect
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
4-6 weeks
Result
Selected Selected

I applied via Walk-in and was interviewed before Oct 2022. There were 3 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Don’t add your photo or details such as gender, age, and address in your resume. These details do not add any value.
View all tips
Round 2 - Aptitude Test 

Lots of aptitude question with 10 difficulty

Round 3 - HR 

(2 Questions)

  • Q1. What us your expected salary
  • Q2. Target after 5 years
  • Ans. 

    To become a certified internal auditor and take on a leadership role within the organization.

    • Obtain certification as a Certified Internal Auditor (CIA)

    • Develop strong leadership and communication skills

    • Take on more challenging audit assignments

    • Mentor junior auditors

    • Contribute to the strategic direction of the internal audit function

  • Answered by AI

I applied via Company Website and was interviewed in Oct 2021. There was 1 interview round.

Interview Questionnaire 

2 Questions

  • Q1. Tell me about yourself
  • Ans. Hi sir, I am Bala Gangadhra rao,I am from Perukalapudi,
  • Answered Anonymously
  • Q2. What are your greatest strengths
  • Ans. My strengths is good professor in management
  • Answered Anonymously

Interview Preparation Tips

Interview preparation tips for other job seekers - Good communication skills and work experience

I applied via campus placement at Indian Institute of Management (IIM), Kolkatta and was interviewed in Oct 2020. There were 4 interview rounds.

Interview Questionnaire 

12 Questions

  • Q1. 1) Tell me about yourself? (Or) Walk me through your resume?
  • Q2. 2) Why should we hire you?
  • Q3. 3) Where do you see yourself in the next 5 years?
  • Q4. 4) List out a few of your strengths and weaknesses?
  • Q5. 5) How do you overcome your weakness?
  • Q6. 6) Tell me something about your project which you have ever handled in your past?
  • Q7. 7) What is Audit?
  • Ans. 

    Audit is a systematic and independent examination of financial statements, records, operations, and performance of an organization.

    • Audit is a process of evaluating an organization's financial and operational activities.

    • It involves examining financial statements, records, and transactions to ensure accuracy and compliance with laws and regulations.

    • Auditors provide an independent opinion on the fairness and reliability o...

  • Answered by AI
  • Q8. 8) What is the Bank Reconciliation Statement? Explain with a practical example?
  • Ans. 

    Bank Reconciliation Statement is a document that matches the bank balance with the company's balance.

    • It is used to identify any discrepancies between the two balances.

    • It includes items such as outstanding checks, deposits in transit, and bank fees.

    • A practical example would be comparing the company's records of deposits and withdrawals with the bank statement to ensure accuracy.

    • Any differences found are then investigate...

  • Answered by AI
  • Q9. 9) When an Asset increases it must be debited or credited?
  • Ans. 

    When an asset increases, it must be debited.

    • Debit increases assets and credit decreases assets.

    • Assets include cash, accounts receivable, inventory, property, and equipment.

    • For example, if a company purchases a new machine, the asset account for machinery will be debited to increase it.

    • This is based on the accounting equation: Assets = Liabilities + Equity.

  • Answered by AI
  • Q10. 10) When equity decreases it must be debited or credited?
  • Ans. 

    Equity decreases must be debited.

    • Equity is a credit balance account, so when it decreases, it must be debited to reduce the credit balance.

    • Debiting equity reduces the owner's or shareholder's equity in the business.

    • Examples of equity decreasing transactions include paying dividends, recording losses, or issuing treasury stock.

  • Answered by AI
  • Q11. 11) What is the difference between operating expenses and COGS?
  • Ans. 

    Operating expenses are costs incurred in running a business, while COGS are expenses directly related to producing goods or services.

    • Operating expenses include salaries, rent, utilities, and marketing expenses.

    • COGS include the cost of raw materials, labor, and manufacturing overhead.

    • Operating expenses are recorded on the income statement, while COGS is deducted from revenue to calculate gross profit.

    • Operating expenses ...

  • Answered by AI
  • Q12. 12) Difference between petty cash book and cash book?
  • Ans. 

    Petty cash book is used for small cash transactions while cash book is used for all cash transactions.

    • Petty cash book is used for small cash transactions like buying office supplies or paying for small expenses.

    • Cash book is used for all cash transactions including receipts and payments.

    • Petty cash book is maintained by a petty cashier while cash book is maintained by the main cashier.

    • Petty cash book is usually a single ...

  • Answered by AI

Interview Preparation Tips

Interview preparation tips for other job seekers - My advice is to be confident, present excellent communication skills and a zeal to learn things if you go wrong. Don't give wrong answers if you don't know something politely say I cannot recollect it at the moment.

I applied via Company Website and was interviewed before Oct 2021. There were 2 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Properly align and format text in your resume. A recruiter will have to spend more time reading poorly aligned text, leading to high chances of rejection.
View all tips
Round 2 - Technical 

(2 Questions)

  • Q1. Subject specific questions to be asked
  • Q2. Biology based questions

Interview Preparation Tips

Interview preparation tips for other job seekers - A lot of questions related to academics were asked.

Lunia Singh Mohanty & Co Interview FAQs

How many rounds are there in Lunia Singh Mohanty & Co Senior Audit Manager interview?
Lunia Singh Mohanty & Co interview process usually has 3 rounds. The most common rounds in the Lunia Singh Mohanty & Co interview process are Resume Shortlist, Aptitude Test and One-on-one Round.

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Lunia Singh Mohanty & Co Senior Audit Manager Reviews and Ratings

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2.0/5

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3.0

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2.0

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2.0

Salary & Benefits

3.0

Job Security

1.0

Company culture

1.0

Promotions/Appraisal

2.0

Work Satisfaction

Explore 1 Review and Rating
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