Tata Motors Compliance Manager Interview Questions and Answers

IFRS 15 is applicable to revenue from contracts with customers, providing guidance on recognizing revenue.

• IFRS 15 applies to all contracts with customers, unless they are within the scope of other standards (e.g. leases, insurance contracts)

• It provides a five-step model for recognizing revenue from contracts with customers

• The standard requires entities to identify performance obligations in the contract and allocate th...read more

Risk mitigation is better as it focuses on overall risk management rather than just compliance.

• Risk mitigation allows for a more holistic approach to managing risks across the organization.

• Strict line by line SOX control may lead to a checkbox mentality without addressing underlying risks.

• Examples of risk mitigation strategies include diversifying investments, implementing cybersecurity measures, and creating contingen...read more