Suryoday Small Finance Bank Internal Auditor Interview Questions and Answers

It was basically based on the behavioural aspects of the concerned candidate.

Q1. What is your family background?
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Q2. What are your strengths and weaknesses?
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Q3. Tell me about yourself.
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Q4. Interviewers more grilled me on the job position knowledge for which I was shortlisted for the resume.
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Q1. About myself and based on resume
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Q2. About my skills and studies
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Q3. About my qualification
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Q4. About my certification
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Q1. Normal questions just introduction
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Q1. Tell me about your experience
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Q2. How you do business audit
Ans. 
I conduct business audits by thoroughly examining financial records, internal controls, and compliance with regulations.
• Reviewing financial statements and transactions for accuracy

• Assessing internal controls to ensure they are effective and efficient

• Evaluating compliance with laws and regulations

• Identifying areas of improvement and making recommendations

• Communicating findings to management and stakeholders
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Q1. Tell me what work u handled
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Q1. What is Internal Audit and why we need it ?
Ans. 
Internal Audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
• Internal Audit evaluates the effectiveness of risk management, control, and governance processes within an organization.

• It helps identify areas of improvement and provides recommendations for enhancing internal controls.

• Internal Audit helps ensure compliance with laws, regulations...read more
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Q2. Risks in banking industry.
Ans. 
Risks in banking industry include credit risk, market risk, operational risk, and regulatory risk.
• Credit risk: the risk of borrowers defaulting on loans

• Market risk: the risk of financial losses due to changes in market conditions

• Operational risk: the risk of losses due to internal processes, people, and systems

• Regulatory risk: the risk of non-compliance with regulations and laws
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Q1. What is the major risk associated with the banks.
Ans. 
The major risk associated with banks is credit risk.
• Credit risk is the risk of borrowers defaulting on their loans or not making payments on time.

• Banks face credit risk when lending money to individuals, businesses, or other financial institutions.

• Credit risk can lead to financial losses for banks if borrowers fail to repay their loans.

• Banks use credit analysis and risk management techniques to assess and mitigate cred...read more
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Q2. Process of Audit
Ans. 
The process of audit involves planning, executing, and reporting on the examination and evaluation of an organization's financial or operational processes.
• Planning phase involves understanding the organization's objectives, risks, and controls.

• Execution phase includes gathering evidence, testing controls, and identifying any issues or discrepancies.

• Reporting phase involves communicating findings, recommendations, and c
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Q1. What have you done in your articleship and it’s related exposure in brief.
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Q2. Behavioural questions
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