Audit Consultant

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Audit Consultant Interview Questions and Answers

Updated 14 Mar 2024

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Q1. How would you start an audit of an existing client?

Ans.

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

Q2. How would you start an audit of a new client?

Ans.

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

Q3. What are IFRS standards you're familiar with?

Ans.

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

Audit Consultant Jobs

Consultant Audit/Audit-PIE/Attest Services-PIE 1-3 years
WALKER CHANDIOK
3.0
Mumbai
Consultant Audit/Audit-PIE/Attest Services-PIE, Bangalore 1-3 years
WALKER CHANDIOK
3.0
Bangalore / Bengaluru
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