Nexdigm Executive Interview Questions, Process, and Tips

I am interested in internal audit as it allows me to focus on improving processes and controls within the organization, rather than just compliance.

• Internal audit provides opportunities to add value by identifying areas for improvement within the organization.

• Statutory audit focuses on ensuring compliance with external regulations, while internal audit focuses on improving internal processes and controls.

• I am more inte...read more

ICFR focuses on internal controls over financial reporting, while IA focuses on internal audit activities.

• ICFR is specifically related to financial reporting processes and controls

• IA encompasses a broader range of internal audit activities beyond financial reporting

• ICFR is required by regulations such as Sarbanes-Oxley Act, while IA is a best practice for organizations to ensure effective governance and risk management

• ...read more

To plan out an ICFR assignment, start by understanding the organization's internal controls framework, identifying key risks, assessing control effectiveness, and developing a testing plan.

• Understand the organization's internal controls framework and relevant regulations

• Identify key risks and control objectives

• Assess the design and operating effectiveness of controls

• Develop a testing plan to evaluate control effectiven...read more

To audit procurement to pay process, review contracts, invoices, payments, and ensure compliance. P2P process involves requisition, approval, purchase order, receipt, invoice, and payment.

• Review contracts to ensure terms are being met

• Verify invoices against purchase orders and receipts

• Check payment records for accuracy and compliance

• Ensure proper approval processes are followed throughout P2P cycle

• Identify any discrepa

MFN clause stands for Most Favored Nation clause, which ensures that a party receives the best terms offered to any other party.

• MFN clause is a contractual provision that guarantees a party will receive the most favorable terms available from the other party.

• It ensures that a party will not be at a disadvantage compared to other parties in the agreement.

• For example, if Company A has an MFN clause with Company B, and Co...read more

Make available clause is a provision in a contract that requires one party to make certain resources or services available to the other party.

• Specifies the obligation of one party to provide access to specific resources or services to the other party

• Commonly seen in licensing agreements, where the licensor agrees to make the licensed technology available to the licensee

• Can also be found in service agreements, where the...read more

Yes, I have worked on Form 15CB in the past.

• Yes, I have experience in preparing Form 15CB for international transactions.

• I have ensured compliance with tax regulations while working on Form 15CB.

• I have liaised with auditors and clients to gather necessary information for Form 15CB.

• I have submitted Form 15CB to the Income Tax Department for approval.