Audit Articleship Interview Questions

Auditors are experts specializing in data analysis. A skilled auditor will need to be able to:

  • Maintain a system that keeps track of financial statements
  • Manage their time well in order to stay on top of all of their duties
  • Have a keen eye for details to catch discrepancies within the business
  • Conduct research and analyze data to provide accurate financial feedback
  • Make inquiries within management to gain an understanding of business operations
  • Because auditing is a specialized job, an associate’s degree will not be enough for most companies. A bachelor’s or master’s degree will be required for most entry-level jobs, and an auditor will often need to acquire a CPA certification if they wish to work as an external auditor.

    4) Mention what is meant by decommission liability?De-commission liability is costs that a company expects to levied in the future when the plant is shut-down.

  • Warrants / Vouchers
  • Bills / Receipts
  • Disbursements / checks
  • Bank Reconciliation
  • Income
  • Treasurer’s Reports
  • Taxes
  • 7) Mention what all things have to be taken care for checks and vouchers in internal audit?Internal audit Checks and Vouchers

    • Make sure that there are no missing checks
    • Voided checks are saved
    • All checks recorded in check register
    • Written for all checks, including voided checks
    • Amount on check matches amount on voucher/warrant
    • Adequate explanation for all expenditures

    9) Explain what is the meaning of plan drawn up in internal audit?Plan drawn up is the assessment of the risk that is mutually agreed between the internal audit, senior management and audit committee determines the frequency with which particular audits take place.

  • Enhance the size and complexity of businesses
  • Increase the compliance requirements
  • Focus on risk management and internal controls to manage them
  • Unconventional business models
  • Stringent norms implemented by regulators to protect investors
  • Intensive use of information technology
  • Increasingly competitive environment
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    8) Explain how you should conduct an internal audit?To conduct an internal audit you should

  • Decide what you want to achieve
  • Identify risks and review objectives
  • Plan and audit activities
  • Validate the facts and complete the work
  • Develop a deliverable or report that will drive action
  • Follow up
  • An auditor’s responsibilities may include:

  • Providing financial control information
  • Analyzing trends and data to find operational errors within the company
  • Performing research on industry norms
  • Preparing financial statements as quantifiable data for employers
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    How To Prepare For Statutory Audit Interview | Interview Question | CA Articleship | CA Sushil Kumar

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