PwC Associate2 Interview Questions, Process, and Tips

Q1. Interview done via Icai campus only 1 round of interview Assertions Key audit procedure relating to revenue / Cash and bank Journel entry relating to bad debts recovered , bill discount all entry Material...read more
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Q2. Tell me yourself, Cv related
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Q1. Previous experience and ctc
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Q1. Accounting concepts along with finance concepts
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Q2. About myself and my personal attributes
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Q1. How do you test sales and purchase
Ans. 
Sales and purchase can be tested by analyzing transaction records, comparing with inventory levels, and conducting reconciliation.
• Reviewing sales invoices and purchase orders for accuracy

• Comparing sales data with inventory levels to ensure consistency

• Conducting regular reconciliation of sales and purchase records

• Analyzing trends in sales and purchase data to identify any anomalies or discrepancies
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Q2. How do you test bank balances
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Bank balances can be tested by reconciling the bank statement with the company's records.
• Compare the ending balance on the bank statement with the ending balance in the company's general ledger.

• Check for any outstanding checks or deposits that have not cleared the bank yet.

• Verify any bank fees or interest charges that may have been deducted from the account.

• Ensure that all transactions are accurately recorded in both t...read more
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It was an online assessment most of them are MCQ technical and aptitude questions

Q1. What is OSI model and explain 7 layers
Ans. 
The OSI model is a conceptual framework that standardizes the functions of a telecommunication or computing system into seven layers.
• Layer 1 - Physical layer: Deals with physical connections and transmission of raw data. Example: Ethernet cables

• Layer 2 - Data link layer: Manages data transfer between devices on the same network. Example: MAC addresses

• Layer 3 - Network layer: Handles routing and forwarding of data packe...read more
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Q1. How do you handle a team
Ans. 
I handle a team by setting clear expectations, providing support, fostering open communication, and recognizing achievements.
• Set clear expectations for each team member

• Provide support and resources to help team members succeed

• Foster open communication and encourage feedback

• Recognize and celebrate team achievements

• Address conflicts and issues promptly and constructively
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Q1. Basic audit questions
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Q2. Ind AS questions mostly on revenue recognition
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Q1. Basic Questions related to previous work experience and tell me about yourself and few more about myself.
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Q1. Question related to form 1120 , types of M adjustments, M-3, depreciation various methods
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Q1. Salary expectations, roles and responsibilities , prior work experience related questions
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Q1. What is materiality
Ans. 
Materiality refers to the significance or importance of an item, event, or information in relation to a specific context or decision.
• Materiality is a concept used in auditing to determine the impact of errors or omissions on financial statements.

• It helps in deciding what information should be disclosed to stakeholders based on its relevance and significance.

• Materiality is subjective and can vary depending on the circum...read more
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Q2. How to test the cash expenses
Ans. 
Cash expenses can be tested by reconciling physical cash on hand with recorded expenses in the accounting system.
• Reconcile physical cash on hand with cash expenses recorded in the accounting system

• Verify receipts and invoices for cash expenses

• Check for any discrepancies or missing documentation

• Perform surprise cash counts to ensure accuracy
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