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JUNIOR LEVEL

Give an example of a time when you tracked and monitored the resolution of audit findings.

Audit Coordinator Interview Questions
Give an example of a time when you tracked and monitored the resolution of audit findings.

Sample answer to the question

In my previous role as an Audit Assistant, I was responsible for tracking and monitoring the resolution of audit findings. One such example was during an internal audit of our company's financial processes. After the audit, I created a detailed spreadsheet to track each finding and its status. I diligently followed up with the responsible individuals and departments to ensure that the identified issues were addressed in a timely manner. I also scheduled regular meetings with the audit team to provide updates on the progress of resolution. By closely monitoring the findings, I was able to ensure that all necessary action plans were implemented and that the audit recommendations were fully addressed.

A more solid answer

In my previous role as an Audit Assistant at ABC Company, I was responsible for tracking and monitoring the resolution of audit findings. One instance where I successfully implemented this was during an external audit of our company's financial statements. I created a detailed tracking system using Excel, which allowed me to categorize and prioritize each finding according to its severity. I also assigned each finding to the relevant department and individual responsible for its resolution. I followed up regularly with them to ensure progress and provided assistance whenever needed. To foster collaboration, I organized weekly meetings with the audit team and stakeholders to discuss the findings and their resolution. This allowed for open communication and efficient resolution of the audit issues. I also maintained clear documentation of all actions taken and their outcomes, which I shared in the final audit report. This comprehensive approach ensured that all audit findings were adequately addressed and resolved in a timely manner.

Why this is a more solid answer:

The solid answer provides specific details about the candidate's experience in tracking and monitoring audit findings. It demonstrates their analytical and problem-solving skills by explaining how they categorized and prioritized the findings. It also showcases their organization and attention to detail by describing their tracking system and documentation. Additionally, the answer highlights the candidate's ability to work collaboratively by organizing meetings and fostering open communication. However, it can be further improved by including more information about the candidate's adaptability to new challenges and changing priorities.

An exceptional answer

During my time as an Audit Assistant at ABC Company, I was responsible for tracking and monitoring the resolution of audit findings. In a particularly challenging audit of our company's inventory management system, I utilized my strong analytical and problem-solving skills to identify and categorize the findings. I created a detailed action plan to address each issue, breaking it down into smaller, manageable tasks. This allowed for a more efficient resolution process and ensured that no findings were overlooked. To adapt to changing priorities, I prioritized the findings based on their potential impact on the organization and made adjustments to the action plan accordingly. I collaborated closely with the audit team, as well as the IT and operations departments, to ensure a comprehensive and coordinated approach to the resolution process. We conducted regular progress meetings, where I provided updates on the status of each finding and identified any roadblocks or challenges. As a result of my proactive monitoring and follow-up, all audit findings were successfully resolved within the agreed-upon timeline. This experience not only sharpened my skills in tracking and monitoring audit findings but also highlighted my ability to adapt to new challenges and work collaboratively with cross-functional teams in a fast-paced environment.

Why this is an exceptional answer:

The exceptional answer goes above and beyond by providing specific and detailed examples of the candidate's experience in tracking and monitoring audit findings. It emphasizes their strong analytical and problem-solving skills by explaining their approach to categorizing and prioritizing the findings. It also showcases their adaptability to changing priorities by describing how they adjusted the action plan. Additionally, the answer demonstrates exceptional teamwork and collaboration by highlighting the candidate's collaboration with multiple departments and their proactive approach to addressing challenges. This answer effectively addresses all the evaluation areas mentioned in the job description.

How to prepare for this question

  • Familiarize yourself with different auditing methodologies and best practices.
  • Develop strong analytical and problem-solving skills by practicing with case studies or mock audits.
  • Improve your organizational skills by using tools such as Excel or project management software to track and monitor tasks.
  • Enhance your collaboration skills by actively participating in team projects or group activities.
  • Stay updated on industry regulations and standards related to auditing.

What interviewers are evaluating

  • Analytical and problem-solving skills
  • Organization and attention to detail
  • Teamwork and collaboration

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