RGN Price Article Assistant Interview Questions and Answers

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 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. 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 me about yourself IND AS related questions
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Q2. Are ok with travelling
Ans. 
Yes, I am comfortable with travelling for work purposes.
• I am willing to travel for client meetings, audits, and other work-related tasks

• I understand that travelling may be required occasionally and I am prepared for it

• I have previous experience travelling for work during internships or previous jobs
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Q3. Do you have vehicle to travell around the city and daily up down from your home to Office and from office to home.
Ans. 
Yes, I have a vehicle for daily commute to the office and back home.
• Yes, I have a car that I use for daily transportation.

• I ensure regular maintenance of my vehicle to avoid any breakdowns.

• Having a vehicle allows me to be punctual and reliable for work.

• In case of emergencies or late hours at work, having a vehicle is convenient for safe travel.
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Q1. What are your salary expectations
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Q2. What is your preferable location
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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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