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JUNIOR LEVEL

What is your experience in conducting audits?

Internal Auditor Interview Questions
What is your experience in conducting audits?

Sample answer to the question

I have experience conducting audits as part of my role as an intern at a financial services firm. During this internship, I assisted senior auditors in reviewing financial statements, verifying transaction records, and analyzing internal controls. I also participated in on-site visits to various client locations to conduct physical inventory counts and observe operational processes. I am familiar with auditing standards and procedures, and have used software such as Excel to analyze and interpret data. Additionally, I have developed strong attention to detail and the ability to work with confidential information. While my experience is limited to my internship, I am eager to expand my knowledge and skills in conducting audits.

A more solid answer

During my internship at a financial services firm, I gained hands-on experience conducting audits. I worked closely with senior auditors to review financial statements, perform transaction testing, and assess internal controls. I utilized tools such as Excel to organize and analyze data, identify trends, and evaluate the effectiveness of internal procedures. I also participated in on-site visits to client locations, where I conducted physical inventory counts and observed operational processes. This experience helped me develop a strong attention to detail and the ability to work with confidential information. I am familiar with auditing standards and procedures, and have a basic understanding of laws and regulations. I am also adaptable and willing to learn new techniques and processes. While my experience is within the range of 0-2 years, I am confident in my ability to contribute to the audit team.

Why this is a more solid answer:

The solid answer provides more specific details about the candidate's internship experience conducting audits, including their involvement in reviewing financial statements, performing transaction testing, and conducting on-site visits. It also mentions their ability to use Excel for data analysis and their awareness of auditing standards and procedures. However, it could still be improved by mentioning the candidate's ability to work under pressure, meet deadlines, and their commitment to continuous learning.

An exceptional answer

As an intern at a financial services firm, I had the opportunity to gain comprehensive experience in conducting audits. I worked closely with senior auditors to plan and execute financial, operational, and compliance audits. This involved reviewing financial statements, conducting transaction testing, and assessing the effectiveness of internal controls and risk management practices. I leveraged tools such as Excel to analyze and interpret data, identify anomalies, and provide recommendations for improvements. I also participated in on-site visits to client locations, where I conducted physical inventory counts and observed operational processes to ensure accuracy and compliance. What sets me apart is my ability to work well under pressure and meet deadlines while maintaining a high level of accuracy and attention to detail. My commitment to continuous learning is demonstrated by my active pursuit of industry certifications such as CIA and CISA. I am confident that my experience and skills make me a strong candidate for the role of Internal Auditor.

Why this is an exceptional answer:

The exceptional answer provides a more comprehensive and detailed overview of the candidate's experience conducting audits. It highlights their involvement in planning and executing various types of audits, as well as their ability to use tools like Excel for data analysis and interpretation. The answer also emphasizes the candidate's ability to work under pressure, meet deadlines, and their commitment to continuous learning by pursuing industry certifications. The exceptional answer demonstrates a strong alignment with the job description and showcases the candidate's passion and dedication to the field of auditing.

How to prepare for this question

  • Review and refresh your knowledge of auditing standards, procedures, laws, rules, and regulations.
  • Gain hands-on experience by seeking opportunities to participate in audits or related projects.
  • Develop strong analytical and problem-solving skills, as well as attention to detail.
  • Familiarize yourself with relevant software such as Excel for data analysis.
  • Stay updated on industry best practices, tools, techniques, and performance standards through continuous learning and professional certifications.

What interviewers are evaluating

  • Experience conducting audits
  • Knowledge of auditing standards and procedures
  • Ability to analyze and interpret data
  • Attention to detail
  • Ability to work with confidential information

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