Senior Audit Manager Interview Questions and Answers

I manage audit by planning, organizing, and executing audits while ensuring compliance with regulations and standards.

• I plan and prioritize audit tasks based on risk assessment

• I organize audit teams and assign responsibilities

• I execute audits by conducting fieldwork and analyzing data

• I ensure compliance with regulations and standards

• I communicate findings and recommendations to management

• I follow up on audit recommendations to ensure implementation

• I stay up-to-date with indus...read more

The responsibility of an auditor in a branch is to ensure compliance with policies, procedures, and regulations.

• Conducting audits to identify any non-compliance issues

• Preparing audit reports and presenting findings to management

• Developing and implementing corrective action plans

• Ensuring that all financial transactions are accurately recorded

• Verifying that all internal controls are in place and functioning properly

In statutory audit, debtors are checked by verifying the accuracy of the debtor's ledger, confirming balances with customers, and assessing the collectability of outstanding debts.

• Verify the accuracy of the debtor's ledger by reconciling it with the general ledger.

• Confirm balances with customers through direct communication or third-party confirmations.

• Assess the collectability of outstanding debts by analyzing payment history, customer creditworthiness, and economic conditio...read more

Address the issue immediately through investigation, communication, and appropriate disciplinary action.

• Conduct a thorough investigation to gather evidence and understand the extent of the employee's actions.

• Communicate with HR, legal, and senior management to discuss the situation and determine the best course of action.

• Take appropriate disciplinary action, which may include termination, depending on the severity of the misconduct.

• Implement measures to prevent similar incide...read more

My mother's uncle is named John Smith.

• My mother's uncle is my maternal great-uncle.

• He is related to my mother's side of the family.

• His name is John Smith.

Caro 2020 reporting for 21-22 is a set of guidelines for auditors to follow while conducting audits.

• Caro 2020 reporting is a set of guidelines issued by the Institute of Chartered Accountants of India (ICAI) for auditors to follow while conducting audits.

• These guidelines are applicable for audits conducted for the financial year 2021-22.

• The guidelines cover various aspects of auditing such as risk assessment, internal control evaluation, and reporting.

• Auditors are required to...read more