6 Auditor Interview Questions and Answers
Can you give an example of a situation where you needed to use hard data to prove a point about your audit?
There are times when an auditor’s work or accuracy may be called into question. Potential hires should be able to explain how they respond to questions and provide evidence for their findings. This question can show you how the applicant handles pressure. What to look for in an answer:
- Ability to recall or find specific data quickly
- Ability to explain data in simple terms
- Excellent organizational skills
What’s your process for approaching an audit before it’s officially initiated?
There are many steps to be completed throughout the auditing process from start to finish. Auditors usually have to complete several tasks before they’re able to conduct the audit. This question helps you understand how well the candidate plans ahead for their audits. If they show that they’re well-organized and have a set strategy ready before the audit, this can reassure you that they’re responsible and that the audit itself will run smoothly.
The candidate’s answer should emphasize:
- Clear strategy for approaching the audit
- Organizational and planning skills
- Understanding of the entire auditing process
An answer to this question could look like this:
Have you worked with different types of software as an auditor and what level of qualifications do you have?
Modern auditors can use several types of accounting software to supplement their hard skills and keep track of data. A potential hire should have some experience with one or two of the most common programs in the industry. What to look for in an answer:
- Expertise at using auditing software
- Examples of how the interviewee uses technology
- A willingness to learn new programs
How would you handle giving client feedback that might be difficult to hear?
Auditors need to be accurate with their numbers, but they also have to have some communication and interpersonal skills to be able to offer guidance. Answers to this question will help you learn about a potential hire’s personality and mannerisms when it comes to taking care of possible disputes. What to look for in an answer:
- Specific steps the auditor takes to talk through the negatives
- Helping clients deal with feedback positively
- Steps the auditor takes to help clients improve
Have you developed any systems for reducing the number of errors in your audits?
You want to hire an auditor who does everything they can to produce accurate, error-free work every time they perform an audit. The answers to these questions should give you some insight into the thought processes of the candidate as well as an idea of how they solve problems. What to look for in an answer:
- Detailed explanation of systems that reduce errors
- Willingness to learn new techniques to correct common mistakes
- An understanding that there’s always room to improve
How would you describe the process of auditing? Can you take me through a typical workflow?
Any potential auditors who you interview for your business should have a good grasp of the auditing process, but this question can help you get to know their communication style better. They should be able to describe a simple audit to you in both technical and layperson’s terms and take you through their workflow from beginning to end. A candidate’s answer to this question will help you gauge their basic knowledge of the industry. What to look for in an answer:
- Precise working knowledge of the auditing process
- Ability to communicate in both technical and basic terms
- Display of critical thinking
What is an internal auditor?
An internal auditor is a professional who evaluates a company’s financial and business practices. They usually have an accounting degree, finance or a related business field. Internal auditors should be organized and tactful and have strong critical thinking skills.
What are the purposes of ISA 610 and INTOSAI standards?
Employers ask this question to make sure you are familiar with auditing organizations, regulations and working with other auditors. ISA stands for the International Standards for Auditing, and ISA 610 gives guidelines about how internal and external auditors should work together. The International Organization of Supreme Audit Institutions (INTOSAI) is a group of government entities. Its members include the Chief Financial Controller, the Comptroller General and the Auditor General Offices of many countries.
The INTOSAI started in Havana, Cuba in 1953, and its headquarters are in Vienna, Austria. It produces standards and guidelines about regulatory or statutory audits and performance audits.
Example: “ISA 610 is part of the International Standards for Auditing. It gives useful guidelines about how internal and external auditors can work with each other efficiently and smoothly. The International Organization of Supreme Audit Institutions or INTOSAI is a group of government offices and organizations that produces standards and guidelines about regulatory or statutory audits and performance audits.”
Why did you apply for this position?
Tell your interviewer about your passion for optimizing business processes and discuss any relevant experiences. If you have worked as an internal auditor before, mention your previous successes. For instance, you could talk about how you saved your past employer money and made the business more efficient.
Example: “Your business is growing, and using my internal auditing skills to help you become even more successful sounds very exciting. Your company also offers excellent benefits, and I have spoken to current employees who love the friendly atmosphere.”
De-commission liability is costs that a company expects to levied in the future when the plant is shut-down.
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.
An independent and objective evaluations or examination of the company’s financial and operational business activities is referred as internal audit.
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.
7) Mention what all things have to be taken care for checks and vouchers in internal audit?
Auditors are experts specializing in data analysis. A skilled auditor will need to be able to:
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.
FAQ
How do I prepare for an audit interview?
- Consider your audience. …
- Remember that an interview is a two-way road. …
- First appearances are important. …
- Research the firm. …
- Clearly express your interest in the position. …
- Thank your interviewer.
What does an audit trainee do?
How do I prepare for a traineeship interview?
- It’s Overwhelming. You will be completely overwhelmed starting out. …
- Ask Questions! If you don’t understand what you’re doing, then ask for clarification. …
- Learn, Learn, Learn. …
- Communication is Key. …
- Find a Mentor. …
- Get Your letters (ACA, ACCA, CPA) ASAP.
