Mazars Audit Senior Interview Questions and Answers

Q1. Tell me about yourself
Ans. 
I am a dedicated and experienced Audit Senior with a strong background in financial analysis and risk management.
• Over 5 years of experience in auditing and financial analysis

• Expertise in risk management and compliance

• Strong communication and leadership skills

• Managed audit teams and conducted thorough financial reviews

• Proficient in using audit software and tools
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Q2. What is your current CTC
Ans. 
My current CTC is $80,000 per year.
• My current CTC is $80,000 per year

• CTC includes salary, bonuses, benefits, and any other perks provided by the company

• It is important to be honest about your current CTC during job interviews
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Q1. Risk Based audit approach, 5 steps of revenue recognition
Ans. 
Risk-based audit approach focuses on identifying and assessing risks to determine audit procedures. Revenue recognition involves 5 key steps.
• Identify the risks associated with revenue recognition, such as fraud or errors.

• Assess the significance of these risks to determine the audit approach.

• Design and perform audit procedures to address the identified risks.

• Evaluate the results of the audit procedures and draw conclusi...read more
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Q1. Audit Assertions
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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
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Q2. Ind as 116 case study
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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
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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
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Q1. Questions based off resume
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Internal audit process

Q1. Self introducation
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Q2. Basic computer knoweldege
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Q3. Where are you from
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Q4. What is your educati૦n
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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
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Q1. Basic interview
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Q1. Tell me about yourself
Ans. 
I am a detail-oriented and analytical Auditor with a strong background in financial analysis and risk assessment.
• I have a Bachelor's degree in Accounting and have obtained my CPA certification.

• I have experience conducting audits for both public and private companies, ensuring compliance with regulations and identifying areas for improvement.

• I am skilled in data analysis and have a keen eye for identifying discrepancies...read more
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Easy 4 sections general questions easily cleared

My topic was ev cars vs petrol cars. All were shortlisted.

Q1. Why you want to join rsm
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Q2. What is suspense account
Ans. 
A suspense account is a temporary account used to record transactions for which there is uncertainty about the appropriate account to use.
• Used when there is uncertainty about the correct account to use

• Temporary holding place for transactions

• Helps prevent errors in financial statements

• Commonly used in accounting to temporarily hold transactions until they can be properly classified
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Verbal Reasoning, numerical Reasoning, logical reasoning.

Q1. About the role ,company
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