MP Chitale & Co Interview Questions and Answers

Audit report contents include executive summary, scope, methodology, findings, recommendations, and management response.

• Executive summary provides an overview of the audit process and key findings.

• Scope outlines the objectives and limitations of the audit.

• Methodology explains the approach used to conduct the audit.

• Findings detail the issues identified during the audit.

• Recommendations suggest actions to address the find...read more

Trial balance needs to match to ensure accuracy of financial statements.

• Trial balance is a statement of all ledger balances.

• It ensures that total debits equal total credits.

• If there is a discrepancy, it indicates an error in the accounting records.

• Matching trial balance is important for accurate financial reporting.

• Errors can be identified and corrected before finalizing financial statements.