S.R.Batliboi & Co. Senior Audit Executive Interview Questions and Answers

Q1. Case study on Ind as 115. Timing of recognition as revenue of Amount provided for training employees for a specific assignment
Ans. 
Under Ind AS 115, revenue for training employees for a specific assignment should be recognized when the training services are provided.
• Revenue should be recognized over time as the training services are provided.

• The amount provided for training employees should be allocated to each period based on the progress of the training.

• The timing of revenue recognition should align with the timing of when the training services ...read more
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Q2. Ind as 116 case study
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Q3. Ind as 2 calculation of inventory cost as per fifo
Ans. 
Ind AS 2 requires inventory cost to be calculated using the FIFO method.
• Under FIFO method, the oldest costs are assigned to inventory first.

• Cost of goods sold is calculated using the oldest costs first.

• Ending inventory is valued at the most recent costs.

• Example: If a company purchases inventory at $10, $12, and $15, under FIFO method, the inventory sold will be valued at $10 first.

• Example: If the company sells 100 unit...read more
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Q4. Ind as 102 journal entries
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Ind AS 102 journal entries are used to record share-based payments in financial statements.
• Ind AS 102 requires companies to recognize share-based payments as an expense in their financial statements.

• Journal entries for share-based payments typically involve debiting an expense account and crediting either equity or liability accounts.

• For example, if a company grants stock options to employees, the journal entry would i...read more
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Q1. Questions based off resume
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Q1. What is assertion
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Assertion is a claim or statement made by management regarding the financial statements.
• Assertions are made by management to ensure the accuracy and completeness of financial statements.

• There are different types of assertions such as existence, completeness, valuation, rights and obligations, etc.

• For example, the assertion of existence would state that all reported assets and liabilities actually exist.

• Auditors test th...read more
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Q2. What is materiality
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Materiality is the concept of determining the significance or importance of an item or event in relation to financial statements.
• Materiality helps auditors decide what information to focus on during an audit

• It is based on the size, nature, and circumstances of an item or event

• Materiality is subjective and can vary depending on the context

• For example, a small error in a company's financial statements may not be consider...read more
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Q3. Different types of audit opinion
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Different types of audit opinions include unqualified, qualified, adverse, and disclaimer.
• Unqualified opinion: clean opinion, no material misstatements found

• Qualified opinion: some limitations or scope restrictions, but overall financial statements are fairly presented

• Adverse opinion: significant material misstatements found, financial statements are not fairly presented

• Disclaimer opinion: auditor unable to form an opi...read more
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No any aptitude test

Only xl formulas, and pivot table.

Basic group chats on what's app nd on google teem .

Internal audit provide for other company's, and assat audit provide for other company's.

Physical , soft copy, and chack certificate etc.

Q1. Are you immediately join ?
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Q2. Are you full time job joiner?
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Q1. Basic Laptop user?
Ans. 
Yes, I am a basic laptop user with proficiency in common applications and tasks.
• Proficient in using Microsoft Office suite (Word, Excel, PowerPoint)

• Able to browse the internet and use email

• Comfortable with basic troubleshooting and settings adjustments

• Familiar with file management and organization

• May have limited knowledge of more advanced software or technical tasks
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Q2. Why are you find this job?
Ans. Because my intrest in a commercial audit
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Q1. What about your self?
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Q2. What about aspects salary?
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Q3. What is your study from?
Ans. Say, that my course and my degree's.
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Q4. And manager say your training is 6 month, so you interested?
Ans. Don't only confirmed to the wise manager, please confirm to hr,That's really 6 month or 12 month training time and confirm that only on the mail .
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Q1. Tests managerial skills
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Q1. General Questions
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Verbal Reasoning, numerical Reasoning, logical reasoning.

Q1. About the role ,company
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Q1. Just basic questions based on your resume
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Q1. They'll just ask few basic questions about subjects.
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Basic accounting ,english and logical reasoning

Q1. What is audit procedure
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Q2. SA 600
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Q1. Why would you like to join this organisation
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Q1. Deferred Tax Asset or Liability
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Q2. Ind as 115 revenue recognition
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