I have the determination. On getting my feet to this door of oportunity and I am willing enough to give all my focus and attention to prove that the company gain an asset.
Scenario based questions are particularly common in typical interview questions and answers structures for audit roles as they provide practical proof of certain core competencies. In your example, interviewers will be looking for demonstrations of teamwork, leadership and versatility, problem-solving and quick thinking.
Interviewers want to see that you understand how the firm is successfully servicing its clients.
In your answer you should touch on what the firm does differently to its competitors, the strong relationship-building skills held by people at the firm, and the services it offers clients in addition to audit.
Effective Delegation.Identifying potential in the candidates.. Most importantly bringing the best out of the person and deliver effective results.
Errors can be detected in a financial document by comparing them to the originals and looking at the specific information in each of the columns. If the numbers do not match up, there is likely some sort of issue. The common issues in financial documents revolve around errors of principle, omission and commission.
Most interview guides will recommend having at least one example to hand so you are not seen to be struggling to think of something. The answer should be told like a story, in an engaging way, and demonstrate that you are the right person for the job due to a mixture of the right competencies and attitudes.
I would make the reports and avoid providing specific recommendations and leave management through their own brain storming process to identify the next course of action to address the anomaly pointed out.
For it let me gain different experiences that help me improve my skills personally and professional at the same time learning new things.
This question according to Edwards is again about striking the right balance. He says, “If a ‘rotation scheme' is in place, candidates should show clear ambition, whilst demonstrating an open-mindedness to different career directions.” He further explains, “If you typecast yourself into one narrow career path, there's a chance you're talking yourself out of the job if the company is any less than 100% sure they can deliver on your ambitions.”
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
I have a degree in accounting as well as well as a professional qualification with the association of certified chartered accountants. I have five years completed articles training with kpmg chartered accountants.
In an organisation, errors are about to happen intentionally or un intentionally. Intentional errors are frauds which is very tough to identify when people collude to make it very secretively since audit is persuasive and not conclusive.
Internal control review including role and effectiveness of senior management, evaluation of Human resources policies and practices, assess the role and effectiveness of the audit committee and other committees audit risk management c, Revenue cycle, receivables, Expenditure cycle, payroll cycle.
I have learnt that communicating effectively plays a very important role in audit. My articleship gave me a opportunity to work on it.
It is a good interview tactic to learn how to strike a balance between sounding confident but not conceited and modest but not overly self-critical. Acknowledge that while you are proud of your achievements there is always scope for improvement and development and you are keen to continue your journey with new opportunities.
Focus on the alignment of the opportunities the role offers with your personal aims and ambitions and convey what a good fit you are for the role by drawing attention to the parallels between your skills and experience, and the role requirements.
Be honest while staying positive, avoiding anything that suggests conflict or in which you could be perceived as portraying your current employer or manager negatively. This will reflect equally badly on you. A better interview tactic is to talk instead about the need for new challenges and development opportunities.
The first thing to know when answering this question is that your interviewer is hoping to understand how you operate in the internal audit function and how your personality may affect your work. Be honest in your response, mention a real weakness, but frame it as something you were made aware of, subsequently worked on and have overcome and thus improved. This shows your interviewer that you are self-aware, open to constructive criticism and flexible in terms of your own development.
A typical job interview question and one which gives you the opportunity to mention any achievements or qualifications you have that add value to your role as internal auditor. Now is the moment to talk about your skills, your experience and how you will be an asset to their business. Make sure to give examples of everything you discuss, for example, don't just say “I'm a good team player”, prove it. A handy tip in this instance is also to make sure you have memorised the job description so you can keep referring back to it as you make your case for why they should hire you.
After the internal audit,
☛ Hold an auditors meeting with auditees involved with the audit, discuss the non-conformances and what part is missed
☛ Issue the audit report in a timely manner
☛ Encourage auditees to take corrective actions again flaws
☛ Help and guide those responsible for completing the corrective actions with setting reasonable deadlines
☛ Take the feed-back of the auditees and how your audit team were perceived
To perform an internal audit all of the financial records shall be given by the treasurer for the audit, including the check-book register, bank statement, deposit slip, cancelled checks, treasurer's reports, expense vouchers or warrants with bill receipts, the annual treasurer's report etc.
Competency questions come up in interviews for all kinds of graduate roles, but they're particularly important to positions in audit. This is because your interviewers probably won't expect you to have a detailed understanding of the audit process so instead will be looking for a number of core competencies to show you have the potential to do well in the job.
The skills interviewers will look for include teamwork, leadership, problem-solving, adaptability and judgement. Make sure you have examples of times when you demonstrated these competencies to hand, and practise answering competency questions using the STAR method, outlining the Situation, Task, Action and Result.
This is a great opportunity to show an understanding of the audit industry as a whole, through ongoing professional development, keeping up with industry communications or through your professional network for example. Make sure your answer is as relevant as possible to the prospective employer and the role in question.
It is important to show commitment and loyalty so by all means mention that you are particularly interested in roles with scope for internal mobility within an organisation. One final interview tip is to use this as a chance to show ambition by making it clear that you are stimulated by a continual challenge.
For they serve as a translator because they help the management understand the company's standing in all aspects and help detect the problems in the earliest time by their audit report.
The fact that you engage people on different levels and that you get to be position to help in ensuring that an organisation thrives.
Honest, conscience, I can easily be bugged by my conscience as such I remain to be trustworthy in order to avoid sleepless nights due to guilt.
No I have not been offered a bribe. I have always been very straight and objective in handling audit matters. Management once indicated that they want me to train their staff in audit matters and accounting and they would pay my allowances. I indicated to them that this would not be possible unless the event is handled by the Institute of Public Accountants where I subscribe and I would be a facilitator, but under the institute.
Check-list for the internal audit includes
☛ Warrants / Vouchers
☛ Bills / Receipts
☛ Disbursements / checks
☛ Bank Reconciliation
☛ Treasurer's Reports
Edwards explains that the best way to answer this question is by showing, not telling. “Our clients are often looking for people who will travel frequently, across different time zones, and encounter many different cultural approaches both inside and outside of their business dealings,” he says. “If you can show that you know what that entails, it helps the interviewer feel more relaxed about putting you in that challenging environment. Any examples of visiting family and friends abroad, studying in a different country and thus experiencing their culture or adapting yourself to new ways of working will show the interviewer that this isn't going to shock you.”
I will keep encouraging them in each and every aspect of their performance and give them motivation to enhance their performance by making them refer standards and inculcate positive attributes within them so that they gain confidence that the company is actually growing because of their contribution towards work.
Yes many times. I was passionate to get my required details from them and after getting I worked closely on their issues.
Yes I am. Documentation helps give a background on the issue and the facts documented enable making of sound judgement and conclusions.
Number crunching allows one reach the right decisions through analysis and taking on the best options according to cost benefit analysis. Number crunching also allows one determine the right costs and also provides assurance that Value for money is being attained in terms cost and economy as well as efficiency and effectiveness. I like paying attention to details as it enables one take the best possible alternative given the various decision available.
Friendly attitude, team work, encouraging them since we are all of one team and towards one single goal.
I dont intend to make any improvements as yet. I wish to blend into the system and study how it functions. If there are any shortfalls that is where I will recommend for remedial action.
Because external auditors go into companies as an outsider in order to point out issues and enact change, I realize that communication is a vital skill. Without honed communication skills, the auditor may not be able to articulate his or her thoughts or explain the issues found in a way that can be understood by the general public. It is also important that an external auditor is able to communicate in a friendly way to ensure there is no animosity.
☛ How has your experience/education prepared you to be an internal auditor?
☛ How do you develop an audit plan? What is important to consider?
☛ What do you do after you finish with an audit?
☛ What are important elements of internal control systems? What process would you follow to review them?
☛ Do you know any audit software or CAATs (computer assisted audit techniques)? Have you used them before?
☛ What do you know about information technology controls?
☛ Where and how do you gather important raw data? How do you analyze them?
☛ Are you familiar with IFRS?
☛ How do you keep up with changes in regulations and laws?
☛ How do you think internal auditing can add value to a company?
☛ Why are you interested in the audit field? What do you like most about this job?
☛ Tell me about a time you had to correct someone's mistake
☛ What do you think this role involves?
☛ Describe a time when you had to improve a piece of work after criticism?
☛ What have you read about PWC in the news?
☛ Can you describe a time when you have worked in a team to deliver a piece of work? – What was your role in the team? What did you do exactly?
☛ Describe a time when you've successfully managed a project for example coursework or organising an event. What challenges did you overcome? Who supported you? What was the outcome?
☛ Can you tell me about a piece of recent financial news you've read? Why did you find it interesting?
☛ Give an example of a time you failed to accomplish something.
☛ Give an example of a time you built a relationship.
☛ Why audit?
☛ Give an example of a time you worked with someone with a different style. How did this differ to your own?
☛ Give an example of a time you said something unethical.
☛ Give an example of a time when you weren't given enough guidance.
☛ Why PWC?
☛ Give an example of a time you overcame conflict.
☛ What do you know about the ACA exams?
☛ Give an example of a time when you worked with people outside your usual network.
☛ What's the most difficult thing about working with you?
☛ Give an example of a time you solved a complex problem.
☛ Give an example of a time when you had to complete multiple different projects to a short deadline.
☛ What would you do if you heard one of your co-workers releasing confidential client information?
☛ Tell me about a time when you were given vague instructions for a task and had to figure out what to do.
☛ Give an example of a time you dealt with a team member who didn't pull his weight.
☛ Have you ever detected a case of fraud? What process did you follow?
☛ Imagine a situation where you suspect that a company is exposed to a major risk. What risk management procedures would you employ?
☛ Tell us about a serious operational issue you encountered in the past. How did you discover it and what solutions did you recommend?
☛ Imagine a situation where you have to deal with uncooperative colleagues. What would you do?
☛ Have you ever experienced conflict with senior management or within a team? What happened and how did you resolve it?
☛ Describe a time when you made a suggestion that was successfully implemented. What was the result?
☛ Have you ever had difficulty persuading others to implement your recommendations? What did you do?
☛ Imagine that someone asks you to do something unethical like covering up a fraud. What would you do?
☛ What makes KPMG different from the rest of the Big Four? Why do you want to work here?
☛ What's the difference between an internal auditor and an external auditor?
☛ What do you think this job will involve exactly?
☛ Talk about a time you've managed multiple tasks to finish a project for a deadline.
☛ Talk about a time you worked in a team where there were communication problems. How did you help resolve them?
☛ Can you talk about a time you've had to deal with a difficult customer? How did you diffuse the situation?
☛ What's good about you? What's not? What do you need to learn?
☛ Can you give an example of a time when you've had to communicate an idea persuasively in writing?
☛ Can you tell me something interesting you've read about KPMG in the news?
☛ Can you tell me about a time when circumstances changed? How did you adapt?
☛ Can you tell me about a time when you've had to overcome a setback? How did you overcome it?
☛ Can you talk about a business that's doing well? Which three things do you consider key to their success?
☛ Can you talk about a business that's doing badly? Which problems does it face?
☛ Can you talk about a time when you've motivated a team to work together? What did you d exactly?
☛ What are you most proud of?
☛ Which opportunities can you see now for KPMG to develop new business?
☛ Which skills do you think you'll need in the role you're applying for at KPMG?
☛ Can you tell me about a time you felt bored at work? How did you make the job more interesting?
☛ Can you talk us through the way you evaluated a challenging situation in the past?
☛ A company wants to relocate overseas. Talk us through the problems it faces.
☛ How do you manage your time?
☛ What are your two biggest accomplishments in life?
☛ Describe your role in a piece of work you're particularly proud of.
☛ Describe a time you collaborated with others to achieve a goal.
☛ Give me an example of when you have dealt with a difficult character
☛ How would people describe you in three words?
☛ Why Deloitte?
☛ Why audit?
☛ Talk me through a long term project you've been involved in.
☛ Why did you study a university degree if you want to work in accountancy?
☛ What's good about you?
☛ Describe a time you defended a friend.
☛ How would you sell yourself?
☛ Which other companies are you applying to?
☛ Describe a time when you had to settle upon the right course of action. What were your thought processes when you made this decision?
☛ How do you try to be the best you can be?
☛ Tell us about a time you led a team.
☛ What can you bring to Deloitte?
☛ How do you handle stress at work?
☛ Tell me about a time you adapted to an unfamiliar situation.
☛ Why are pot holes round?
☛ How many pens can I fit in this room?
☛ Why should Deloitte invest in you?
☛ What is your leadership style?
☛ What are you reading right now?
☛ 1. What are you good at?
☛ 2. What do you most enjoy studying?
☛ 3. What gives you a buzz?
☛ 4. Are you a starter or a finisher?
☛ 5. Are you into big picture or detail?
☛ 6. Describe a successful day you had recently.
☛ 7. What do you love doing in your spare time?
☛ 8. When are you happiest?
☛ 9. When you do you feel most like yourself?
☛ 10. Do you find there are enough hours in the day?
☛ 11. Have you ever done something differently the second time around?
☛ 12. Tell me about your friends.
☛ 13. Which three words would you friends use to describe you?
☛ 14. What's your biggest weakness?
☛ 15. Have you ever wanted to stop doing something?
☛ 16. Do you think you need to be an expert to lead a team?
☛ 17. Would you say you're organized? Would your friends?
☛ 18. Do you enjoy hard work?
☛ 19. Why do you want this job?
☛ 20. Give an example of a time you asked for more responsibility.
☛ 21. If there was a family member or friend sitting next to you, what would they tell me were your top 3 strengths and top 3 weaknesses?
☛ 22. Which books do you read?
☛ 23. Tell me about something that's not on your resume.
☛ Tell us something about your work experience? Discuss the biggest strength and weakness of your resume?
☛ Why financial audit is essential to manage and evaluate the overall financial procedures?
☛ What do you understand from web auditing? How does web editing different from financial computer editing?
☛ Explain the diverse steps for initiating financial auditing procedures? According to you, what is the ideal deadline to complete the financial audit?
☛ Define internal finance audit? What are the different types of internal audit systems are available?
☛ Distinguish between annual external finance audit and internal audit?
☛ Discuss the different procedures involved to conduct and accomplish the internal finance audit?
☛ How do you handle the errors and frauds found in the internal and external audit? Would you like to suggest some beneficial process to bring transparency in the financial records?
☛ What approach do you follow to communicate with the concerned people during the financial audit?
☛ Explain the various before auditing and after auditing procedures? How do you organize the official meetings regarding the financial audit programs?
☛ As a financial auditor, what are your objectives to serve the finance department of the concerned organization?
☛ Have you ever encountered with any panic issue in which you found a lot of finance calculation errors during the audit procedure?
☛ According to you, which five traits are required to be a successful finance auditor?
Your interviewers want you to show that you've done your research into a career at the firm and have a good understanding of what a graduate role in audit involves.
This means you need to know what kind of projects you'll be working on and what sort of tasks you'll be responsible for, who you'll be reporting to, where your work will be carried out – at your firm's office or on client sites – and how much of your time will be spent studying at college.
☛ Ensure the authority of the audit team is established- it will enhance the co-operation from the auditees
☛ Decide which areas of the company will be audited and the frequency of the audits. Prepare as yearly audit schedule and distribute
☛ Determine the purpose of the audit whether it complies with government regulations, quality standards, internal procedures and systems
☛ Organize a meeting with the auditors to discuss plan, scope and purpose of the audit
☛ Read the documents you are auditing against.
Careers in audit are open to graduates from all degree disciplines, so don't worry if you haven't studied maths or a business-related course at university.
Firms look for candidates with good numeracy skills, strong teamwork and communication skills, willingness to learn, and the ability to build relationships with clients. Use your academic experience, part-time work and participation in clubs and societies to demonstrate that you've developed these skills.
It's important to demonstrate that you have broad commercial awareness and keep up to date with developments in the business and financial press, but you should also be prepared to show that you're following the audit industry specifically and be ready to discuss it in detail.
The Big Four professional services firms have been criticised for failing to spot, or warn about, the global financial crisis, and their practices are also facing scrutiny from British and European regulators who say there's not enough competition among auditors. Make sure you're able to discuss these issues, and their impact on firms in the industry.
There are a lot of skills that can benefit an auditor, such as being organized, proficient at math and detail oriented. However, one of the most important skills that can be possessed by an external auditor, in my opinion, is that of analysis. Someone in this position is expected to identify discrepancies in documents and have enough knowledge to suggest solutions. Without the ability to analyze this kind of bulk data, an auditor will not be very good at his or her job.
I am a planner, an organizer, and leader who sets a good example. I am an analyzer and have the ability to identify risks, and I know the benefits of stewardship and accountability.
Ten years. My experience in both internal and external audit at management level has prepared me for further roles as an audit manager.
Yes. I always make presentations on the departmental quarterly performance every quarter.
I was given rank 2. Out of 3. Received good feedback. But couldn't outperform the rank 1 holder.
Giving the management solution that will either lessen or eradicate cost or expense on their part.
Use this to show that you understand the organisation's philosophy and values and that these align with your own beliefs and preferences. Talk about your admiration for the organisation in an honest way, without slipping into what could be perceived as cynical or insincere flattery.
You will probably have numerous answers to this question, so it is important to be concise and at the same time not be daunted by the sheer amount of detail you want to get across. You could talk about a desire to understand how some of the country's top companies operate, and the opportunity to engage with these companies and build long-term relationships through them. It is important for passion and excitement to shine through.
I know continual learning is an important part of being an external auditor because it helps ensure I am up to date on changing regulations and the like. I take occasional classes offered by ISACA, the Institute of Internal Auditors and the Institute of Management Accountants to stay fresh on industry-related topics. I also strive to attend workshops and conferences as they fit into my schedule. I think it is important for professionals to at least take the time to read related publications and talk with their peers.
When it comes to conflict, what your interviewer is looking for is an internal auditor who can show a willingness to listen to and understand his or her colleagues' and employers' perspectives in order to work out a solution that is mutually agreeable. The key here is collaboration leading to resolution.
If you really want the job you're applying for, plenty of reasons will spring to mind.
It could be that you're keen to get an inside look at the country's top companies by studying their accounts; that you'd like the opportunity to visit client sites and build long-term relationships with them; or that you're eager to study for a professional qualification while getting hands-on experience on the job.
Whatever it is that excites you about working in audit, make sure you show that you've done some research and understand what the job involves, and that you can explain why it appeals to you.
De-commission liability is costs that a company expects to levied in the future when the plant is shut-down.
Internal audit Checks and Vouchers
► ► Checks:
☛ Make sure that there are no missing checks
☛ Voided checks are saved
☛ All checks recorded in check register
► ► Vouchers:
☛ Written for all checks, including voided checks
☛ Amount on check matches amount on voucher/warrant
☛ Adequate explanation for all expenditures
External audit's main focus is on the accuracy of the financial statements and annual report, while the internal audit has a wide prospective and looks into anything that is important for the organization's success.
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.
This question is all about testing your preparation skills pre-interview. Your employer wants to know how motivated you are to work for his or her company, thus how well you've researched the company culture. Use this question to identify which of their core values you share, your respect for their business ethos and how you intend to uphold the vision they have created for their organisation.
Have an example ready that hones in most importantly on the implementation of an idea you put forward, and one that was hopefully successful.
I gained a lot of the technical knowledge I need to be an external auditor while I pursued my bachelor's degree in accounting. I also have my Certified Information Systems Auditor designation from ISACA, which indicates I have a lot of technical knowledge related to information systems and operational auditing experience. I also gained much of my technical knowledge while I was an internal auditor for five years and an external auditor for three years.
We discover fraud in audit through effective planning. When planning for audit engagement auditor should consider possibility of fraud.
I am a very discipline person. During the week we concentrate in our jobs, at home we have someone who helps us to do some jobs so we do not need to stress to much. There are a couple of jobs that we do between my husband and myself. We normally leave the weekends to socialist with friends and spend time with our daughter.
Pastel evolution, pastel express, mach 4, swan, sap and sage.
YES when I finish ACCA I want to CPA exams and become CPA member.
I have managed small teams of four people as an Auditor, progressed to manage seven people as a Senior Auditor and twenty people as a Principal Auditor managing a Branch office.The aspects of management involved supervising work by staff, appraising them, providing guidance on audits, including developing audit work plans and audit Planning Memorandum, audit programs, tests of control, guidance on risk based audits and scheduling of audits and general management of resources for the branch ensuring adequacy, planning logistics and ensuring proper usage. I have also done general management of staff to ensure they are well motivated and perform to their full potential, while coordinating all activities with top management at the Head office.
I am very conscientious about my job and how it effects the company I work for. I Suggested accountability for timeliness of work performed and concern for a person doing a job they are unqualified for, due to finding a tremendous amount of errors causing financial risks, however no loss has taken place because of corrections I have made.
A team of professional go through the organisation and its work and communicate any difficulty in the manner in which organisation is being run to the board in their report.
Possibly the best interview tip is to research and understand the company, its products and services. Avoid reeling off a list of memorised information, and instead highlight particular things that caught your interest.
As a professional, I think it is important to always think about the future. I am excited to join your company as an external auditor, but I have a potential future in mind. I would love to gain a managerial position with your company within the next five years. From there, I would be interested in joining the executives as a financial officer or something of the kind. I do not know exactly how this position will help me in my career, but I know I will gain a lot of important experiences and skills because of it. It will also give me the chance to hone the skills I have currently.
This is in some ways a trick question. In that they are trying to trick you into slipping up. Never answer this question directly. Answer it with a question instead, for instance, you can ask them about the range of the position and then explain that salary can depend on the details of the job of which there are many, but only mention a few.
Some people are career auditors,”, “others view Internal Audit as their entry point into a new business before progressing elsewhere after some time. Whichever you are, make sure you are able to clearly articulate why you are interviewing for this job.
You may have applied to work in a specific location, in which case you'll probably be asked why.
It might be because you'll be able to save money by living with your parents - it's fine to mention your personal reasons, but try to show that you've had a closer look at the office in question too. Perhaps it works with some clients that particularly interest you, or you may have met some of the team members at a recruitment event and got on well with them.
Internal Audit is necessary to
☛ 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
An independent and objective evaluations or examination of the company's financial and operational business activities is referred as internal audit.