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I applied via Approached by Company and was interviewed in Mar 2023. There was 1 interview round.
Amendments to accounting standards are changes made to the existing accounting rules and regulations.
Amendments are made to improve the quality of financial reporting.
They are made by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).
Examples of recent amendments include changes to revenue recognition and lease accounting standards.
Companies must stay up-to-date wit...
Implications refer to the consequences or effects of a particular action or decision.
Implications can be positive or negative depending on the context.
They can affect individuals, organizations, or society as a whole.
It is important to consider the implications before making a decision.
For example, the implications of implementing a new policy may include increased costs, improved efficiency, or decreased employee mora
Related parties are identified through various methods and criteria.
Related parties can be identified through ownership or control relationships.
Financial transactions between related parties can also indicate their relationship.
Legal or contractual agreements can provide information about related parties.
Common management or significant influence can be used to identify related parties.
Examples of related parties incl...
Auditor identifies related parties through various means.
Reviewing financial statements for transactions with related parties
Inquiring with management about any known related parties
Examining ownership structures and board memberships
Analyzing contracts and agreements for related party transactions
Checking public records for family relationships or common ownership
Assessing the nature of the relationship and potential
I applied via Naukri.com and was interviewed in Dec 2020. There was 1 interview round.
Observed discrepancies during audit
Noted inconsistencies in financial records
Identified errors in inventory management
Observed lack of adherence to company policies
Discovered security vulnerabilities in IT systems
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
I applied via Referral and was interviewed before Oct 2022. There were 4 interview rounds.
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
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
Functional audits carry risks that can impact the organization.
Lack of objectivity: Auditors may have biases or conflicts of interest that can affect the audit process.
Limited scope: Functional audits may focus on specific areas, potentially overlooking broader organizational issues.
Resistance to change: Audits can uncover deficiencies or areas for improvement, which may be met with resistance from employees or managem...
I applied via Naukri.com and was interviewed before Jan 2021. There were 4 interview rounds.
I am a highly motivated and experienced professional with a strong background in management and leadership.
Over 5 years of experience in management roles
Proven track record of successfully leading teams and achieving targets
Excellent communication and problem-solving skills
Strong organizational and time management abilities
Ability to adapt to changing environments and handle multiple tasks
Example: As an Assistant Manag...
Aptitude test has been conducted
Don't remember. general simple aptitude.
based on 1 interview
Interview experience
based on 1 review
Rating in categories
Audit Executive
51
salaries
| ₹3 L/yr - ₹8 L/yr |
Senior Audit Executive
8
salaries
| ₹5.4 L/yr - ₹9.6 L/yr |
Audit and Assurance Executive
7
salaries
| ₹3 L/yr - ₹10 L/yr |
Audit Assistant
7
salaries
| ₹2.4 L/yr - ₹4.2 L/yr |
Chartered Accountant
6
salaries
| ₹6.2 L/yr - ₹8 L/yr |
T R Chadha & Co Llp
Aneja Associates
Synmac Consultants
PGEIN