The Saraswat Co-operative Bank Audit Manager Interview Questions and Answers

Q1. All related to your cv and audit discussion
Add your answer

Q1. 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

• Helps maintain the balance in accounting records

• Used to ensure accuracy in financial transactions
Answered by AI
Add your answer
Q2. Explain requirements of LFAR
Ans. 
LFAR stands for Long Form Audit Report, which is a detailed report prepared by auditors to provide a comprehensive analysis of a company's financial statements and internal controls.
• LFAR is a regulatory requirement for banks and financial institutions in India, mandated by the Reserve Bank of India (RBI).

• It includes detailed information on the financial position of the company, compliance with regulatory requirements, ...read more
Answered by AI
Add your answer

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
Answered by AI
Add your answer
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
Answered by AI
Add your answer

Q1. What have you done in your articleship and it’s related exposure in brief.
Add your answer
Q2. Behavioural questions
Add your answer

Coding test is programming decide the factor

Aptitude is numerical abstract and reasoning logical question

Assume you are one of the members of a real group discussion.
Take the initiative to participate and contribute your thoughts.
Contribute your positive thoughts towards providing the solution.

Q1. Tell me about your experience
Add your answer
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
Answered by AI
Add your answer

Q1. What is your prior experience as detailed in your CV?
Add your answer

Q1. Generic question on job background
Add your answer

Q1. Salary discussion
Add your answer

Q1. Basic Job profile and work experience
Add your answer
Q2. How do you come to know about job
Add your answer