Statutory Audit Executive

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Statutory Audit Executive Interview Questions and Answers

Updated 19 Aug 2024

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Q1. Whether any Statutory Audit of NBFC, Listed Company, Bank Carried out in past?

Ans.

Yes, I have conducted statutory audits of NBFCs, listed companies, and banks in the past.

  • I have conducted statutory audits of NBFCs, listed companies, and banks for the past 5 years.

  • I have experience in auditing financial statements, internal controls, and compliance with regulatory requirements.

  • I have worked with clients such as HDFC Bank, ICICI Bank, and Reliance Capital.

  • I have also provided recommendations for improving financial reporting and internal controls.

  • My experien...read more

Q2. Give a practical example of common control business combination.

Ans.

A common control business combination occurs when two or more businesses are under the control of the same parent company.

  • In a common control business combination, the parent company has the ability to direct the operating and financial policies of the businesses.

  • This type of combination typically involves businesses that are owned by the same group of shareholders or have the same management team.

  • Common control business combinations are not considered to be acquisitions beca...read more

Statutory Audit Executive Interview Questions and Answers for Freshers

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Q3. How to calculate EIR for a loan taken

Ans.

Effective Interest Rate (EIR) for a loan can be calculated using a formula that considers the loan amount, interest rate, and repayment schedule.

  • Calculate the present value of all cash flows associated with the loan, including both principal and interest payments

  • Determine the interest rate that equates the present value of cash flows to the loan amount

  • The formula for EIR calculation is complex and typically requires the use of financial calculators or software

  • EIR calculation ...read more

Q4. What is audit trail.

Ans.

An audit trail is a chronological record of all activities related to a specific operation or event.

  • It provides a detailed history of changes made to data, including who made the changes and when.

  • Audit trails are commonly used in financial audits to track transactions and ensure accuracy.

  • They help in detecting errors, fraud, or unauthorized activities by providing a trail of evidence.

  • Audit trails are essential for maintaining data integrity and accountability.

  • Examples include...read more

Statutory Audit Executive Jobs

Statutory Audit Executive 0-6 years
B D Bansal & Co
4.5
₹ 6 L/yr - ₹ 12 L/yr
Mumbai
Statutory Audit Manager & Statutory Audit Executive CA/Inter CA Mumbai 2-7 years
Parc Kalite Consultant
5.0
₹ 5 L/yr - ₹ 15 L/yr
Mumbai
Statutory Audit Executive 1-2 years
ACME SERVICES PRIVATE LIMITED
0.0
Mumbai
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