RGN Price Article Assistant Interview Questions and Answers

Q1. What do you mean by audit
Ans. 
Audit is a systematic examination of financial records, statements, and transactions of an organization.
• Audit is conducted to ensure accuracy, reliability, and compliance with laws and regulations.

• It involves examining financial records, statements, and transactions of an organization.

• Auditors provide an opinion on the fairness and accuracy of the financial statements.

• Types of audits include internal audit, external au...read more
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Q2. Difference between statutory audit and internal audit
Ans. 
Statutory audit is mandatory and conducted by external auditors while internal audit is voluntary and conducted by internal auditors.
• Statutory audit is conducted to ensure compliance with legal and regulatory requirements while internal audit is conducted to evaluate and improve the effectiveness of internal controls.

• Statutory audit is mandatory for all companies while internal audit is voluntary and can be conducted b...read more
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Q1. Why internal audit & why not statutory audit..?
Ans. 
Internal audit provides a more comprehensive view of the organization's operations and helps identify areas for improvement.
• Internal audit focuses on evaluating and improving the effectiveness of an organization's risk management, control, and governance processes.

• Statutory audit is a legal requirement and focuses on ensuring compliance with applicable laws and regulations.

• Internal audit provides valuable insights into...read more
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Q2. Why Mahajan & Aibara and about company
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Q1. What is Internal Audit
Ans. 
Internal audit is a process conducted by an organization to evaluate and improve the effectiveness of risk management, control, and governance processes.
• Internal audit helps organizations identify and mitigate risks, improve operational efficiency, and ensure compliance with laws and regulations.

• Internal auditors provide independent and objective assessments of an organization's internal controls and processes.

• Examples...read more
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Few case studies related audit were asked

Q1. What skills are essential for effective use of Excel and SAP?
Ans. 
Essential skills for Excel and SAP include data analysis, reporting, and understanding of business processes.
• Proficiency in Excel functions like VLOOKUP, SUMIF, and pivot tables for data analysis.

• Familiarity with SAP modules relevant to the business, such as FI (Financial Accounting) or MM (Materials Management).

• Ability to create and interpret reports in both Excel and SAP for informed decision-making.

• Understanding of ...read more
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Q2. What is your experience with drafting and finalizing reports?
Ans. 
I have extensive experience in drafting and finalizing reports, ensuring clarity and accuracy in all documentation.
• Drafted financial reports for quarterly reviews, ensuring compliance with accounting standards.

• Collaborated with team members to gather data and insights for comprehensive project reports.

• Utilized software tools like Microsoft Word and Excel for formatting and data analysis.

• Reviewed and edited reports for ...read more
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Q1. Purchase checklist in manufacturing entities
Ans. 
A purchase checklist in manufacturing entities ensures all necessary items are acquired for production.
• Identify required raw materials and components

• Check inventory levels to avoid overstock or stockouts

• Verify supplier credentials and negotiate prices

• Ensure timely delivery schedules are met

• Monitor quality of purchased items
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Q1. Tell me about yourself
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Q2. Share experience
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Q3. Salary expectation
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Q4. Work location is fine to you?
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Q1. Best audit remarks discovered till date
Ans. 
One of the best audit remarks discovered was related to identifying a significant financial discrepancy in the company's revenue recognition process.
• Identifying a significant financial discrepancy in revenue recognition process

• Highlighting potential risks in the company's financial reporting

• Providing recommendations for improving internal controls
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Q2. Why want to join in audit
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Q3. Types of audit done
Ans. 
Types of audit include financial audit, operational audit, compliance audit, and forensic audit.
• Financial audit: examines financial statements to ensure accuracy and compliance with laws and regulations

• Operational audit: evaluates the efficiency and effectiveness of operations within an organization

• Compliance audit: verifies adherence to laws, regulations, and internal policies

• Forensic audit: investigates potential fra
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Q4. Fine with job Location
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Q1. Fine with job location
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Q2. Excel expertise
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Q1. Tell us about yourself
Ans. 
I am a dedicated and hardworking individual with a strong interest in the field of accounting and finance.
• I have completed my Bachelor's degree in Accounting and Finance from XYZ University.

• During my studies, I gained practical experience through internships at ABC Accounting Firm and XYZ Bank.

• I have a good understanding of financial statements, taxation, and auditing principles.

• I am proficient in using accounting soft...read more
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Q2. When can you join us
Ans. 
I can join you in two weeks from now.
• I have a notice period of two weeks at my current job.

• I need to wrap up my current projects before joining a new organization.

• I can start on [specific date].
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Q1. Many questions from your cv
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Q2. Many questions related to syllabus
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