RSM India Article Assistant Interview Questions and Answers

Q1. Why Grant thornton?
Ans. Sir GT  is indias largest tax,assurance and advisory firm. A truly indian firm with global connections and while ho through the company's website I got to know that you are a global network of 68000 people in 147 markets with a common goal- to help people business flourish. And to be able to sit or work with these people would be a golden opportunity for me. And i also got to know that Your culture is always open, incl...read more
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Q2. Why stat audit?
Ans. 
Stat audit is important for ensuring accuracy, compliance, and transparency in financial statements.
• Stat audit helps in verifying the accuracy of financial statements and ensuring that they are free from material misstatements.

• It provides assurance to stakeholders that the financial information presented is reliable and trustworthy.

• Stat audit helps in detecting and preventing fraud, errors, and irregularities in financ...read more
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Q3. How would you receive negative comments?
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Q4. Where do you see yourself after 5 years?
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Q1. What is materiality? Difference between overall and performance materiality?
Ans. 
Materiality refers to the significance or importance of an item or event in relation to financial statements.
• Materiality is a concept used in auditing and accounting to determine the relevance of information.

• It involves assessing the impact of an item or event on the financial statements and whether it would influence the decisions of users.

• Materiality is subjective and depends on the nature and size of the entity bein...read more
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Q1. Basic discussion
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Q1. Tell me about yourself?
Ans. 
I am a dedicated and hardworking individual with a passion for learning and growth.
• Graduate in Accounting from XYZ University

• Completed internship at ABC Accounting Firm

• Proficient in MS Excel and QuickBooks

• Strong analytical and problem-solving skills

• Excellent communication and teamwork abilities
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Q2. Why you want to join in Statutory audit?
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Is Cryptocurrency a future?

Q1. On Accouting and auditing standard
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Q2. Accounting standard 10
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Q1. Basic general questions related to things mentioned in cv
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Q1. Related to tds, advance tax
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Q2. Due dates of each
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Q1. Most of the questions were regarding intermediate syllabus
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Q2. Why you want to join EY
Ans. 
I want to join EY because of its reputation for excellence and the opportunities it offers for professional growth.
• EY is known for its high standards and commitment to quality, which aligns with my own values and aspirations.

• I believe that working at EY will provide me with the chance to learn from experienced professionals and develop a strong foundation in my career.

• EY offers a wide range of services and clients, whi...read more
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Q1. Clauses of Caro 2020
Ans. 
The Clauses of Caro 2020 are legal provisions related to auditing and accounting standards in India.
• The Clauses of Caro 2020 are mandatory for companies falling under specified criteria.

• They cover aspects such as maintenance of books of accounts, internal control systems, and compliance with laws.

• Examples of clauses include reporting on fixed assets, loans and advances, and related party transactions.
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Q2. Ind AS 2 inventory valuation process
Ans. 
Ind AS 2 outlines the principles for the valuation and measurement of inventory.
• Ind AS 2 requires inventory to be measured at the lower of cost and net realizable value.

• Cost includes all costs incurred to bring the inventory to its present location and condition.

• Net realizable value is the estimated selling price less estimated costs to complete and sell.

• Ind AS 2 provides guidance on the cost formulas that can be used ...read more
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Q1. Why did you choose statutory Audit
Ans. 
I chose statutory audit because of its importance in ensuring financial transparency and compliance with regulations.
• Statutory audit helps in verifying the accuracy of financial statements and ensuring compliance with laws and regulations.

• It provides assurance to stakeholders and investors about the financial health and integrity of the organization.

• Statutory audit also helps in detecting and preventing fraud and error...read more
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Q1. What is the new tax slab
Ans. 
The new tax slab for individuals in India is as follows: 0-2.5 lakh - Nil, 2.5-5 lakh - 5%, 5-10 lakh - 20%, above 10 lakh - 30%
• 0-2.5 lakh income is taxed at 0%

• 2.5-5 lakh income is taxed at 5%

• 5-10 lakh income is taxed at 20%

• Above 10 lakh income is taxed at 30%
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Q2. Questions about SA
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