Sharp & Tannan Associates Internal Audit Executive Interview Questions and Answers

Q1. What is something you are proud of and why?
Ans. Really wanted a dirt bike so I saved up and was able to buy one
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Q1. How are u and what have you done
Ans. 
I am a dedicated and experienced internal auditor with a strong track record of identifying and mitigating risks.
• Performed risk assessments to identify potential areas of concern

• Conducted thorough audits to assess compliance with regulations and internal policies

• Developed recommendations for improving internal controls and processes

• Presented audit findings to senior management and stakeholders

• Collaborated with cross-fu...read more
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Q2. Where do u see urself in 10 years
Ans. 
In 10 years, I see myself as a seasoned Internal Auditor leading a team of professionals, implementing innovative audit strategies, and contributing significantly to the organization's growth.
• Leading a team of auditors

• Implementing innovative audit strategies

• Contributing to organizational growth

• Continuing professional development

• Possibly pursuing advanced certifications like CIA or CISA
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Q1. All questions covering about audit exposure.
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Q2. Detailed answer explaining experience in internal audits.
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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. About Previous Company's experience & what kind of Job have done there
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Q2. Process of P2P, O2C
Ans. 
P2P (Procure to Pay) and O2C (Order to Cash) are two important processes in business operations.
• P2P involves the procurement of goods or services, from requisition to payment.

• O2C involves the entire process from receiving a customer order to receiving payment.

• P2P includes steps like requisition, purchase order creation, goods receipt, invoice verification, and payment.

• O2C includes steps like order entry, order fulfillm...read more
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Q3. Details of Observation you have find
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Q1. Tell me about yourself
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Q2. What do you understand by audit?
Ans. 
Audit is a systematic examination of financial records, statements, or operations to ensure accuracy and compliance with laws and regulations.
• Audit involves reviewing financial records, statements, or operations

• It aims to ensure accuracy, compliance with laws and regulations, and identify any discrepancies or fraud

• Auditors gather evidence, analyze data, and report findings to stakeholders

• Types of audits include financi...read more
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Q3. What is the purpose of audit
Ans. 
The purpose of audit is to provide an independent assessment of an organization's financial statements or processes to ensure accuracy, compliance, and efficiency.
• Ensuring accuracy of financial statements

• Evaluating compliance with laws and regulations

• Identifying areas for improvement in processes and controls

• Providing assurance to stakeholders

• Detecting and preventing fraud or errors

• Enhancing transparency and accountabi...read more
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Q4. Tell me some ratios with examples
Ans. 
Ratios are used to analyze financial performance and efficiency of a company.
• Profit Margin: Net income divided by total revenue, shows how much profit a company makes for every dollar of sales.

• Current Ratio: Current assets divided by current liabilities, measures a company's ability to pay its short-term obligations.

• Debt-to-Equity Ratio: Total debt divided by total equity, indicates the proportion of debt used to finan...read more
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Q5. Golden rule of accounting
Ans. 
The golden rule of accounting states that debit what comes in and credit what goes out.
• Debit what comes in and credit what goes out

• Assets = Liabilities + Equity

• Helps maintain the balance in financial statements
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Q6. What is the purpose of financial statements and what encloses in f.s and what is purpose of trial balances
Ans. 
Financial statements provide a snapshot of a company's financial health, including assets, liabilities, and equity. Trial balances ensure accuracy of financial records.
• Financial statements serve to provide stakeholders with an overview of a company's financial performance and position.

• Components of financial statements include balance sheet, income statement, cash flow statement, and statement of changes in equity.

• Bala...read more
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Q7. What is depreciation and %s of some product does land get depriciated journal entries
Ans. 
Depreciation is the allocation of the cost of a tangible asset over its useful life. Land does not depreciate.
• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is calculated using methods such as straight-line, double declining balance, or units of production.

• Land is not depreciated because it is considered to have an indefinite useful life.

• Journal entries for depreciation ...read more
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Q8. What is your weakness
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Q9. Any questions for us
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