Sharp & Tannan Associates CA Article Assistant Interview Questions and Answers

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
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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.
Ans. 
I am a dedicated and hardworking individual with a strong interest in finance and accounting.
• I have completed my Bachelor's degree in Commerce with a specialization in Accounting.

• I have also completed a certification course in Financial Management.

• During my college years, I actively participated in various finance and accounting competitions.

• I have a good understanding of financial statements and taxation laws.

• I am pro...read more
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Q2. What are your strengths and weaknesses.
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My strengths include strong analytical skills, attention to detail, and ability to work well in a team. My weaknesses include being overly critical of my own work and sometimes struggling with time management.
• Strong analytical skills

• Attention to detail

• Ability to work well in a team

• Being overly critical of my own work

• Struggling with time management
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Q3. Why do you want to choose Internal audit domain.
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I am interested in Internal Audit domain as it offers a challenging and dynamic work environment.
• I enjoy analyzing and identifying risks in business processes

• I have a keen eye for detail and enjoy problem-solving

• Internal audit provides exposure to various industries and business functions

• It offers opportunities for continuous learning and development

• Examples: identifying control weaknesses in financial reporting, asses...read more
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Q1. To whom Internal auditor is required to report?
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Internal auditor is required to report to the management and the audit committee.
• Internal auditor is responsible for evaluating the effectiveness of the organization's internal controls and risk management processes.

• The internal auditor reports to the management and the audit committee.

• The management is responsible for overseeing the day-to-day operations of the organization.

• The audit committee is responsible for overs...read more
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Q2. Tell me whole process of internal audit
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Internal audit is a process of evaluating and improving the effectiveness of an organization's risk management, control, and governance processes.
• Planning the audit

• Gathering information and data

• Analyzing and evaluating the information

• Reporting the findings and recommendations

• Follow-up and monitoring

• Examples: financial audits, operational audits, compliance audits
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Q3. What are internal controls
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Internal controls are procedures and policies implemented by an organization to ensure the reliability of financial reporting, compliance with laws and regulations, and effective and efficient operations.
• Internal controls are designed to safeguard assets, prevent and detect fraud, and ensure accuracy and completeness of financial records.

• Examples of internal controls include segregation of duties, access controls, phys...read more
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Q4. What is the limit by law in respect of mandatory Internal audit.
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The limit by law in respect of mandatory Internal audit varies depending on the size and nature of the business.
• The Companies Act, 2013 in India mandates internal audit for certain classes of companies.

• For listed companies, the limit is set at a turnover of Rs. 50 crores or more in a financial year.

• For unlisted companies, the limit is set at a turnover of Rs. 200 crores or more in a financial year.

• Certain industries li...read more
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Acconting Related Question such as Purchase entries, Sales Entries, Basic Accounting

Aptitude Questions, Numerical Ability Questions, Non-Verble reasoning Questions

Q1. HR Round- Myself, Company Overview, Asking about challenges in current job
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Q1. Techical Round- Myself, Journal Entries, how to prepare financials
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Q1. Current Job Role, Accounting Questions , Streanth, Challanges in current job
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Q1. AS 9 And few concepts of audit ( basics)
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Logical & mathematical questions

Q1. What AP cycle in detail
Ans. 
The Accounts Payable (AP) cycle is the process of managing and recording a company's expenses and payments to vendors.
• Receive and verify invoices from vendors

• Record invoices in the accounting system

• Obtain approval for payment

• Generate payment to vendors

• Reconcile vendor statements with accounts payable records
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Q1. Salary Package, policies n all
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