Applexus Technologies Interview Questions and Answers

Internal audit provides a more comprehensive view of the organization's operations and helps identify areas for improvement.

• Internal audit focuses on evaluating and improving the effectiveness of an organization's risk management, control, and governance processes.

• Statutory audit is a legal requirement and focuses on ensuring compliance with applicable laws and regulations.

• Internal audit provides valuable insights into the organization's operations and helps identify areas fo...read more

Statutory audit is mandatory and conducted by external auditors while internal audit is voluntary and conducted by internal auditors.

• Statutory audit is conducted to ensure compliance with legal and regulatory requirements while internal audit is conducted to evaluate and improve the effectiveness of internal controls.

• Statutory audit is mandatory for all companies while internal audit is voluntary and can be conducted by the company itself or outsourced to a third party.

• Statut...read more

Audit is a systematic examination of financial records, statements, and transactions of an organization.

• Audit is conducted to ensure accuracy, reliability, and compliance with laws and regulations.

• It involves examining financial records, statements, and transactions of an organization.

• Auditors provide an opinion on the fairness and accuracy of the financial statements.

• Types of audits include internal audit, external audit, and forensic audit.

• Examples of audits include financi...read more

Stat audit is mandatory by law, while internal audit is voluntary and conducted by the company itself.

• Statutory audit is conducted by external auditors, while internal audit is conducted by the company's own employees.

• Statutory audit is mandatory and required by law, while internal audit is voluntary and conducted by the company itself.

• Statutory audit is focused on ensuring compliance with legal and regulatory requirements, while internal audit is focused on improving the com...read more

Internal audit is an independent and objective assurance activity designed to add value and improve an organization's operations.

• It evaluates the effectiveness of risk management, control, and governance processes.

• It helps organizations accomplish their objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

• It provides insights and recommendations to management to improve the or...read more

Internal auditing is a process that evaluates and improves the effectiveness of an organization's risk management, control, and governance processes.

• Internal auditing is an independent and objective assurance activity

• It helps organizations accomplish their objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes

• Internal auditors provide insights and recommendations to managemen...read more

Risks in hiring process include making a poor cultural fit, hiring unqualified candidates, and potential legal issues.

• Poor cultural fit can lead to decreased morale and productivity

• Hiring unqualified candidates can result in poor performance and high turnover rates

• Potential legal issues such as discrimination or wrongful termination can lead to costly lawsuits