1. Tell me what is External Audit?
External audit is that which is critical review of the representation of the published financial statements it is compulsary for all company;s which are listed in the stock exchange.
2. Do you know 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.
3. Tell us some examples of managing conflict?
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.
4. Explain me what methods have you used for estimating bad debt?
This question can open a conversation about the ways you've approached this routine process with previous employers.
“Your answer can reveal the level of understanding of the methods most commonly used and could open a dialogue about how the company you are interviewing with handles this,”
5. What are your salary expectations as Insurance Auditor?
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.
6. Tell us what type of audits have you done?
You should know how to respond to this based on the job description and whether the position requires experience doing financial audits, operational audits or something else.
7. What are your strengths as Insurance Auditor?
This is a commonly asked question in job interviews for all levels of positions in all industries.
The best way to respond is to describe the skills and experience that directly correlate with the job you are applying for.
“I am a great problem solver as I have the ability to see a situation from different perspectives and I can get my work done even in the face of difficult obstacles. My time management skills are excellent and I'm organized, efficient, and take pride in excelling at my work.”
8. Explain me how hands-on were you?
Your response will depend on whether you've been working for a bigger or smaller firm.
At a bigger organization, your responsibility may be a bit more siloed, whereas at a smaller company you probably have to wear many hats, and there are not as many checks and balances compared to a big company.
Regardless of size, it doesn't take away from the detail-oriented nature of a good accountant or auditor. Highlights your skills, rather than just saying you have experience in accounts payable.
9. Tell me which enterprise resource planning (ERP) systems have you used?
Most accountants, especially those with experience working for medium to large organizations, should have an answer for this. You must be master of Excel. A response might include any of the following: Hyperion, Microsoft Dynamics GP or Oracle Enterprise Manager.
“For entry-level candidates, it's an opportunity to turn this into a discussion of finance certifications and future training possibilities,” he said.
10. Explain me 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
