Ul Quality Assurance LQC Interview Questions and Answers

I completed my articleship in a reputed CA firm where I gained exposure to various aspects of accounting and auditing.

• Worked on audit assignments for clients in different industries

• Prepared financial statements and tax returns

• Assisted in statutory audits and tax audits

• Learned about internal controls and risk management

• Attended client meetings and interacted with clients

• Developed skills in using accounting software and

Key controls in Procurement to payment process include segregation of duties, approval hierarchy, and invoice matching.

• Segregation of duties to prevent fraud and errors

• Approval hierarchy to ensure proper authorization

• Invoice matching to verify accuracy of invoices

• Vendor master data management to prevent duplicate or fraudulent vendors

• Purchase order management to ensure goods/services are received as ordered

• Contract man...read more

Observations during articleship

• Lack of proper guidance from seniors

• Long working hours and high workload

• Limited exposure to different areas of work

• Inadequate training on soft skills and communication

• Inconsistent quality of work assigned

• Opportunities to learn from mistakes and take ownership of work

• Importance of time management and prioritization

• Significance of building professional relationships

• Understanding the importa