Financial Auditor Interview Questions And Answers

An independent and objective evaluations or examination of the company’s financial and operational business activities is referred as internal audit.

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

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.

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.

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.

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.

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.

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.

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.

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.

YES when I finish ACCA I want to CPA exams and become CPA member.

Pastel evolution, pastel express, mach 4, swan, sap and sage.

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.

We discover fraud in audit through effective planning. When planning for audit engagement auditor should consider possibility of fraud.

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.

Have an example ready that hones in most importantly on the implementation of an idea you put forward, and one that was hopefully successful.

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.

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.

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.

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

De-commission liability is costs that a company expects to levied in the future when the plant is shut-down.

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.

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.

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.

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.