Assistant Auditor Interview Questions and Answers for Freshers

Pre-receive liability is a financial obligation that arises before the receipt of goods or services.

• Pre-receive liability refers to a liability that is incurred before the actual receipt of goods or services.

• It is a financial obligation that a company owes to its suppliers or vendors for goods or services that have not yet been received.

• Examples of pre-receive liabilities include advance payments made for future purchases or services, such as prepayment for a subscription or ...read more

Fundamentals of auditing involve understanding the principles, procedures, and standards used in examining financial records.

• Auditing involves examining financial records to ensure accuracy and compliance with laws and regulations

• Key principles of auditing include independence, integrity, objectivity, and confidentiality

• Auditors must follow specific procedures and standards set by regulatory bodies like the PCAOB or AICPA

• Examples of auditing procedures include testing transac...read more

Types of auditing include financial, operational, compliance, and forensic auditing.

• Financial auditing involves examining financial statements to ensure accuracy and compliance with regulations.

• Operational auditing focuses on evaluating the efficiency and effectiveness of internal processes.

• Compliance auditing ensures that an organization is following laws and regulations.

• Forensic auditing involves investigating financial discrepancies and potential fraud.