PwC Audit Manager Interview Questions and Answers

Q1. About yourself Teamwork examples
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It was good and easy also

Q1. Golden rules of Accounting
Ans. 
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The golden rules include: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a company receives ...read more
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Q1. Tell us your major audit observations
Ans. 
Major audit observations include inadequate documentation, lack of segregation of duties, and insufficient controls.
• Inadequate documentation of transactions and processes

• Lack of segregation of duties leading to potential fraud risks

• Insufficient controls over financial reporting

• Non-compliance with regulatory requirements

• Weaknesses in IT security measures
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Q2. What checks shall be done in P2P Audit
Ans. 
Checks in P2P Audit include vendor verification, invoice accuracy, approval process review, duplicate payments detection, and compliance with policies.
• Verify vendor information for accuracy and legitimacy

• Ensure invoices match purchase orders and goods received

• Review approval process to confirm proper authorization

• Detect and prevent duplicate payments

• Check for compliance with company policies and regulations
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Q1. Why do you want to work for Blackrock?
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Q2. What is a recent news article you read?
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Q1. Why internal audit?
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Internal audit allows me to utilize my analytical skills to identify risks, improve processes, and add value to the organization.
• Opportunity to identify and mitigate risks within the organization

• Improving processes and operational efficiency

• Contributing to the overall success and growth of the organization

• Utilizing analytical skills to provide valuable insights

• Continuous learning and development in a dynamic environmen
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Q2. What is a weakness of yours?
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Q1. About the oil and gas business
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Q2. About downstream oil business
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Q1. Tell me about your self?
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Q2. Position and salary expectation?
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Q1. What was the recent audit issue you have come across?
Ans. 
Recently discovered an issue with inaccurate financial reporting due to improper revenue recognition.
• Identified discrepancies in revenue recognition methods used by the finance team

• Conducted detailed analysis of financial statements and supporting documentation

• Collaborated with finance team to implement corrective actions and improve controls
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Q2. How do you deal with the person not meeting expectations at work
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An aptitude test was conducted prior to being selected for Interviews

Q1. Questions based on Resume
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Q2. Questions relating to Accounting
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Q3. Questions relating to IFRS
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Q1. Self introduction
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Q2. Hobbies and passions
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Q3. Career goal in 5 years
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