Audit Consultant Interview Questions and Answers

To start an audit of an existing client, I would follow these steps:

• Review the client's financial statements and previous audit reports

• Understand the client's business operations and industry

• Identify potential risks and areas of focus for the audit

• Develop an audit plan and timeline

• Communicate with the client to establish expectations and obtain necessary information

• Perform preliminary analytical procedures to identify unusual transactions or trends

• Assess the client's internal...read more

To start an audit of a new client, I would follow a systematic approach to gather information and assess risks.

• Obtain background information about the client's business and industry

• Review previous audit reports and financial statements

• Identify key areas of risk and develop an audit plan

• Conduct preliminary meetings with management to discuss the audit scope and objectives

• Perform walkthroughs and testing to gain an understanding of the client's internal controls

• Document finding...read more

I am familiar with IFRS 9, IFRS 15, and IFRS 16 standards.

• IFRS 9 - Financial Instruments

• IFRS 15 - Revenue from Contracts with Customers

• IFRS 16 - Leases