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Auditics Private Limited Interview Questions and Answers

Updated 6 Jun 2025
Popular Designations

19 Interview questions

An A2 - Process Associate was asked 2mo ago
Q. Are you willing to travel?
Ans. 

I am open to traveling for work, as it enhances my experience and allows me to contribute effectively to the team.

  • Traveling allows me to meet clients and understand their needs better.

  • I enjoy exploring new places and cultures, which can inspire creativity.

  • I am flexible with travel schedules and can adapt to changing plans.

  • For example, attending a conference in another city can provide valuable networking opportuni...

An Audit Associate (Trainee) was asked 4mo ago
Q. How do you maintain records for the stock ledger?
Ans. 

I maintain stock ledger records through systematic tracking, regular updates, and reconciliation to ensure accuracy and compliance.

  • Use accounting software to record stock transactions, ensuring real-time updates.

  • Conduct regular physical counts to reconcile with ledger entries, e.g., monthly inventory checks.

  • Categorize stock items by type and value for easier tracking and reporting.

  • Implement a FIFO (First In, First...

An Audit Associate (Trainee) was asked 4mo ago
Q. How do you ensure compliance during the inventory audit process?
Ans. 

Ensuring compliance in inventory audits involves systematic procedures, adherence to regulations, and thorough documentation.

  • Conduct a thorough understanding of relevant regulations and standards, such as GAAP or IFRS.

  • Implement a checklist for inventory counts to ensure all items are accounted for, e.g., using barcodes.

  • Perform regular reconciliations between physical counts and recorded inventory to identify discr...

An Audit Associate (Trainee) was asked 4mo ago
Q. What are the simple average method and weighted average method?
Ans. 

The simple average method calculates the mean of a set of values, while the weighted average method accounts for varying importance of values.

  • Simple Average: Sum of values divided by the number of values. Example: (2 + 4 + 6) / 3 = 4.

  • Weighted Average: Each value is multiplied by a weight, then summed and divided by the total weights. Example: (2*1 + 4*2 + 6*3) / (1 + 2 + 3) = 5.

  • Use Simple Average when all values a...

An Audit Associate (Trainee) was asked 4mo ago
Q. What are the differences between FIFO (First In, First Out) and LIFO (Last In, First Out) methods, and how can you determine whether inventories are managed using LIFO or FIFO?
Ans. 

FIFO and LIFO are inventory valuation methods affecting cost of goods sold and tax implications.

  • FIFO assumes that the oldest inventory items are sold first. Example: If you buy 100 units at $10 and 100 units at $12, the cost of goods sold for the first 100 sold will be $10 each.

  • LIFO assumes that the newest inventory items are sold first. Example: Using the same purchase scenario, the cost of goods sold for the fir...

An Audit Associate (Trainee) was asked 4mo ago
Q. What are the first three accounting standards and how do they apply in practice?
Ans. 

The first three accounting standards guide financial reporting and ensure consistency and transparency in financial statements.

  • 1. IAS 1 - Presentation of Financial Statements: Establishes the overall framework for financial statement presentation, ensuring clarity and comparability.

  • 2. IAS 2 - Inventories: Provides guidance on the valuation and cost of inventories, ensuring that they are reported accurately in fina...

Auditics Private Limited HR Interview Questions

10 questions and answers

Q. Can you describe your experience interning virtually as an Audit intern at ... read more
Q. Where do you see yourself in the next five years?
Q. Can you describe your previous roles and responsibilities?
View all HR interview questions
An Audit Associate (Trainee) was asked 4mo ago
Q. What is the formula for the VLOOKUP function in Excel?
Ans. 

VLOOKUP is an Excel function used to search for a value in the first column of a table and return a value in the same row from a specified column.

  • Syntax: VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

  • lookup_value: The value you want to search for.

  • table_array: The range of cells that contains the data.

  • col_index_num: The column number in the table from which to retrieve the value.

  • range_lookup: Opt...

Are these interview questions helpful?
An Audit Associate (Trainee) was asked 4mo ago
Q. What is the process and purpose of auditing?
Ans. 

Auditing is a systematic process to evaluate financial records for accuracy and compliance with regulations.

  • Purpose: To ensure financial statements are accurate and free from material misstatement.

  • Process: Involves planning, risk assessment, evidence gathering, and reporting.

  • Example: An auditor reviews a company's financial records to verify revenue recognition practices.

  • Compliance: Auditors check adherence to law...

An Audit Associate (Trainee) was asked 4mo ago
Q. What are the key components of inventory audit planning?
Ans. 

Key components of inventory audit planning include risk assessment, materiality, and audit procedures.

  • Risk Assessment: Identify areas with higher risk of misstatement, such as obsolete inventory.

  • Materiality: Determine the significance of inventory amounts in relation to financial statements.

  • Internal Controls: Evaluate the effectiveness of controls over inventory management.

  • Sampling Methods: Decide on sampling tech...

An Audit Associate (Trainee) was asked 4mo ago
Q. What is the Economic Order Quantity (EOQ)?
Ans. 

EOQ is a formula used to determine the optimal order quantity that minimizes total inventory costs.

  • EOQ helps businesses minimize holding and ordering costs.

  • The formula is EOQ = sqrt((2DS)/H), where D = demand, S = ordering cost, H = holding cost.

  • For example, if a company has a demand of 1000 units, an ordering cost of $50, and a holding cost of $2, EOQ = sqrt((2*1000*50)/2) = 500 units.

  • Using EOQ can lead to signif...

Auditics Private Limited Interview Experiences

19 interviews found

Accounts & Finance Executive Interview Questions & Answers

user image MERVIN BRITTO

posted on 20 Feb 2022

I applied via Naukri.com and was interviewed in Aug 2021. There was 1 interview round.

Round 1 - Technical 

(2 Questions)

  • Q1. GST terms and due dates.
    • Add your answer
  • Q2. Excel knowledge and vlookup formula.
    • Add your answer

Interview Preparation Tips

Interview preparation tips for other job seekers - Worst hospitality. No courtesy to greet the candidate. Interviewer showed attitude and discrimination.

Interview Questions & Answers

user image Anonymous

posted on 10 Apr 2025

Interview experience
4
Good
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I appeared for an interview in Mar 2025, where I was asked the following questions.

  • Q1. Can you tell me about yourself?
    • Add your answer
  • Q2. Can you describe your experience interning virtually as an Audit intern at PwC?
  • Ans. 

    I interned virtually at PwC, gaining hands-on experience in audit processes and collaborating with teams remotely.

    • Participated in virtual training sessions, enhancing my understanding of audit methodologies and tools.

    • Worked on real client data, assisting in the preparation of financial statements and audit reports.

    • Collaborated with team members through video calls and shared documents, ensuring effective communication.

    • ...

    • Answered by AI
    Add your answer
  • Q3. What is the process and purpose of auditing?
  • Ans. 

    Auditing is a systematic process to evaluate financial records for accuracy and compliance with regulations.

    • Purpose: To ensure financial statements are accurate and free from material misstatement.

    • Process: Involves planning, risk assessment, evidence gathering, and reporting.

    • Example: An auditor reviews a company's financial records to verify revenue recognition practices.

    • Compliance: Auditors check adherence to laws and...

    • Answered by AI
    Add your answer
  • Q4. What are the first three accounting standards and how do they apply in practice?
  • Ans. 

    The first three accounting standards guide financial reporting and ensure consistency and transparency in financial statements.

    • 1. IAS 1 - Presentation of Financial Statements: Establishes the overall framework for financial statement presentation, ensuring clarity and comparability.

    • 2. IAS 2 - Inventories: Provides guidance on the valuation and cost of inventories, ensuring that they are reported accurately in financial...

    • Answered by AI
    Add your answer
  • Q5. What is inventory audit and what is the accounting standard for that?
    • Add your answer
  • Q6. How do you maintain records for the stock ledger?
  • Ans. 

    I maintain stock ledger records through systematic tracking, regular updates, and reconciliation to ensure accuracy and compliance.

    • Use accounting software to record stock transactions, ensuring real-time updates.

    • Conduct regular physical counts to reconcile with ledger entries, e.g., monthly inventory checks.

    • Categorize stock items by type and value for easier tracking and reporting.

    • Implement a FIFO (First In, First Out)...

    • Answered by AI
    Add your answer
  • Q7. What is the formula for the VLOOKUP function in Excel?
  • Ans. 

    VLOOKUP is an Excel function used to search for a value in the first column of a table and return a value in the same row from a specified column.

    • Syntax: VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

    • lookup_value: The value you want to search for.

    • table_array: The range of cells that contains the data.

    • col_index_num: The column number in the table from which to retrieve the value.

    • range_lookup: Optional...

    • Answered by AI
    Add your answer
  • Q8. Where do you see yourself in the next five years?
    • Add your answer
  • Q9. What is variance analysis, and how do you plan to apply it in an inventory audit?
  • Ans. 

    Variance analysis evaluates differences between expected and actual performance, crucial for inventory audits.

    • Identify variances: Compare actual inventory levels to budgeted or historical levels.

    • Analyze causes: Determine reasons for variances, such as theft, spoilage, or mismanagement.

    • Implement corrective actions: Suggest improvements based on findings, like better inventory controls.

    • Example: If actual inventory is 20%...

    • Answered by AI
    Add your answer
  • Q10. How do you ensure compliance during the inventory audit process?
  • Ans. 

    Ensuring compliance in inventory audits involves systematic procedures, adherence to regulations, and thorough documentation.

    • Conduct a thorough understanding of relevant regulations and standards, such as GAAP or IFRS.

    • Implement a checklist for inventory counts to ensure all items are accounted for, e.g., using barcodes.

    • Perform regular reconciliations between physical counts and recorded inventory to identify discrepanc...

    • Answered by AI
    Add your answer
  • Q11. What are the key components of inventory audit planning?
  • Ans. 

    Key components of inventory audit planning include risk assessment, materiality, and audit procedures.

    • Risk Assessment: Identify areas with higher risk of misstatement, such as obsolete inventory.

    • Materiality: Determine the significance of inventory amounts in relation to financial statements.

    • Internal Controls: Evaluate the effectiveness of controls over inventory management.

    • Sampling Methods: Decide on sampling technique...

    • Answered by AI
    Add your answer
  • Q12. What is the Economic Order Quantity (EOQ)?
  • Ans. 

    EOQ is a formula used to determine the optimal order quantity that minimizes total inventory costs.

    • EOQ helps businesses minimize holding and ordering costs.

    • The formula is EOQ = sqrt((2DS)/H), where D = demand, S = ordering cost, H = holding cost.

    • For example, if a company has a demand of 1000 units, an ordering cost of $50, and a holding cost of $2, EOQ = sqrt((2*1000*50)/2) = 500 units.

    • Using EOQ can lead to significant...

    • Answered by AI
    Add your answer
  • Q13. What are the differences between FIFO (First In, First Out) and LIFO (Last In, First Out) methods, and how can you determine whether inventories are managed using LIFO or FIFO?
  • Ans. 

    FIFO and LIFO are inventory valuation methods affecting cost of goods sold and tax implications.

    • FIFO assumes that the oldest inventory items are sold first. Example: If you buy 100 units at $10 and 100 units at $12, the cost of goods sold for the first 100 sold will be $10 each.

    • LIFO assumes that the newest inventory items are sold first. Example: Using the same purchase scenario, the cost of goods sold for the first 10...

    • Answered by AI
    Add your answer
  • Q14. What are the simple average method and weighted average method?
  • Ans. 

    The simple average method calculates the mean of a set of values, while the weighted average method accounts for varying importance of values.

    • Simple Average: Sum of values divided by the number of values. Example: (2 + 4 + 6) / 3 = 4.

    • Weighted Average: Each value is multiplied by a weight, then summed and divided by the total weights. Example: (2*1 + 4*2 + 6*3) / (1 + 2 + 3) = 5.

    • Use Simple Average when all values are eq...

    • Answered by AI
    Add your answer
  • Q15. How is cost accounting associated with inventory audits?
    • Add your answer

Senior Process Associate Interview Questions & Answers

user image Anonymous

posted on 10 Dec 2024

Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - HR 

(1 Question)

  • Q1. Past company experience
    • Add your answer
Round 2 - Technical 

(2 Questions)

  • Q1. Core related experience and skills
    • Add your answer
  • Q2. Accounting tools ?
    • Add your answer
Round 3 - One-on-one 

(1 Question)

  • Q1. Salary discussion
    • Add your answer

Interview Preparation Tips

Interview preparation tips for other job seekers - Be prepared with your domain knowledge and apply for interview which is related to your experience.

Senior Executive Finance & Accounts Interview Questions & Answers

user image Dinesh Kumar R

posted on 10 Dec 2024

Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - One-on-one 

(2 Questions)

  • Q1. Previous company work experience
  • Ans. 

    I have over 10 years of experience in finance and accounts, including managing budgets, financial reporting, and overseeing audits.

    • Managed financial reporting processes for monthly, quarterly, and annual statements

    • Led budget planning and analysis to ensure financial goals were met

    • Oversaw internal and external audits to ensure compliance with regulations

    • Implemented cost-saving measures to improve overall financial perfo...

    • Answered by AI
    Add your answer
  • Q2. Process related questions
    • Add your answer
Round 2 - HR 

(2 Questions)

  • Q1. General interview questions
  • Ans. 

    Discussing general interview questions for a Senior Executive in Finance & Accounts role.

    • Highlight your leadership experience in finance teams, e.g., managing a team of 10 accountants.

    • Discuss your strategic planning skills, such as developing a 5-year financial forecast.

    • Provide examples of cost-saving initiatives you've implemented, like reducing overhead by 15%.

    • Emphasize your knowledge of regulatory compliance and...

    • Answered by AI
    Add your answer
  • Q2. Process related questions
    • Add your answer

Audit Associate Interview Questions & Answers

user image Anonymous

posted on 30 Nov 2024

Interview experience
4
Good
Difficulty level
Moderate
Process Duration
2-4 weeks
Result
Selected Selected

I applied via Naukri.com and was interviewed in May 2024. There were 2 interview rounds.

Round 1 - HR 

(6 Questions)

  • Q1. Tell me about yourself
  • Ans. 

    I am a detail-oriented Audit Associate with a strong background in finance and accounting, eager to contribute to your team.

    • Educational Background: I hold a Bachelor's degree in Accounting from XYZ University, where I graduated with honors.

    • Professional Experience: I interned at ABC Firm, where I assisted in conducting audits for small businesses, enhancing my analytical skills.

    • Technical Skills: Proficient in using audi...

    • Answered by AI
    Add your answer
  • Q2. Why this role attracts you
  • Ans. 

    The Audit Associate role excites me due to its blend of analytical challenges and the opportunity to ensure financial integrity.

    • I enjoy problem-solving and analyzing data, which is crucial in auditing.

    • The role allows me to work with diverse clients, enhancing my understanding of various industries.

    • I am passionate about ensuring compliance and accuracy in financial reporting, which is vital for business success.

    • The oppo...

    • Answered by AI
    Add your answer
  • Q3. What are your hobbies
    • Add your answer
  • Q4. What are your goals
    • Add your answer
  • Q5. What is your educational background
  • Ans. 

    I have a Bachelor's degree in Accounting and Finance from XYZ University.

    • Bachelor's degree in Accounting and Finance

    • Graduated from XYZ University

    • Completed relevant coursework in auditing

    • Answered by AI
    Add your answer
  • Q6. What was your previous role
  • Ans. 

    I was a Financial Analyst at a Fortune 500 company

    • Prepared financial reports and analysis for management

    • Assisted in budgeting and forecasting processes

    • Conducted variance analysis to identify trends and areas for improvement

    • Answered by AI
    Add your answer
Round 2 - Technical 

(6 Questions)

  • Q1. What is Auditing
  • Ans. 

    Auditing is the process of examining and evaluating financial information to ensure accuracy and compliance with regulations.

    • Auditing involves reviewing financial statements, transactions, and internal controls.

    • Auditors assess the risk of material misstatement in financial reporting.

    • They gather evidence to support their findings and issue an opinion on the financial statements.

    • Auditing helps stakeholders make informed ...

    • Answered by AI
    Add your answer
  • Q2. What is the formula of VLOOKUP
  • Ans. 

    VLOOKUP is a function in Excel used to search for a value in a table and return a corresponding value.

    • VLOOKUP stands for 'Vertical Lookup'

    • The formula syntax is =VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

    • Example: =VLOOKUP(A2, B2:D10, 3, FALSE) - this will search for the value in cell A2 in the range B2:D10 and return the value in the 3rd column

    • The range_lookup parameter can be either TRUE (approxi...

    • Answered by AI
    Add your answer
  • Q3. Name the three accounting standards
  • Ans. 

    The three accounting standards are GAAP, IFRS, and GASB.

    • GAAP (Generally Accepted Accounting Principles) is used in the United States

    • IFRS (International Financial Reporting Standards) is used globally in many countries

    • GASB (Governmental Accounting Standards Board) is used for government entities

    • Answered by AI
    Add your answer
  • Q4. What is inventory management
  • Ans. 

    Inventory management involves overseeing the flow of goods from manufacturers to warehouses to retailers, ensuring optimal levels are maintained.

    • Inventory management involves tracking and controlling the flow of goods from suppliers to warehouses to customers.

    • It includes forecasting demand, setting reorder points, and managing stock levels to prevent stockouts or overstocking.

    • Efficient inventory management can help red...

    • Answered by AI
    Add your answer
  • Q5. What is store ledger
  • Ans. 

    Store ledger is a record of all transactions related to inventory in a store.

    • Store ledger tracks the movement of goods in and out of the store.

    • It helps in maintaining accurate inventory levels and preventing stockouts.

    • The ledger includes details such as item description, quantity, date of transaction, and cost.

    • Regularly updating the store ledger is essential for effective inventory management.

    • Example: A store ledger ma...

    • Answered by AI
    Add your answer
  • Q6. Do you have any questions for us
  • Ans. 

    I would like to understand more about the company's culture and growth opportunities for Audit Associates.

    • Can you describe the typical career path for an Audit Associate in your firm?

    • What kind of training and development programs do you offer for new hires?

    • How does the team collaborate on audits, and what tools do you use?

    • What are the key challenges currently facing the audit team?

    • Can you share examples of recent proje...

    • Answered by AI
    Add your answer

Interview Preparation Tips

Interview preparation tips for other job seekers - Be courageous, don't be afraid of anything and make sure be prepared.

Interview Questions & Answers

user image Anonymous

posted on 6 Jun 2025

Interview experience
3
Average
Difficulty level
Easy
Process Duration
Less than 2 weeks
Result
Selected Selected

I appeared for an interview in May 2025, where I was asked the following questions.

  • Q1. Willingness of Traveling
    • Add your answer
  • Q2. There is no need experience
    • Add your answer

Process Associate Interview Questions & Answers

user image Anonymous

posted on 27 Jun 2024

Interview experience
5
Excellent
Difficulty level
-
Process Duration
-
Result
-
Round 1 - One-on-one 

(2 Questions)

  • Q1. The first interview was
    • Add your answer
  • Q2. Then document verification
    • Add your answer
Round 2 - Technical 

(2 Questions)

  • Q1. I was asked about my equation
    • Add your answer
  • Q2. I passed my interview in a good way,Thanks to Auditics team
    • Add your answer

Interview Preparation Tips

Interview preparation tips for other job seekers - Thanks you for choosing Auditics Pvt ltd as your team

Process Associate Interview Questions & Answers

user image tabasum r

posted on 11 Dec 2024

Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Naukri.com and was interviewed in Nov 2024. There were 2 interview rounds.

Round 1 - Coding Test 

Advanced excel, VBA macros

Round 2 - HR 

(1 Question)

  • Q1. Can you describe your previous roles and responsibilities?
    • Add your answer

Senior Process Associate Interview Questions & Answers

user image Usharani S

posted on 10 Dec 2024

Interview experience
5
Excellent
Difficulty level
Easy
Process Duration
2-4 weeks
Result
Selected Selected

I applied via Naukri.com and was interviewed in Jun 2024. There were 2 interview rounds.

Round 1 - HR 

(1 Question)

  • Q1. Previous company work experience and about myself.
    • Add your answer
Round 2 - Technical 

(1 Question)

  • Q1. About previous company process
  • Ans. 

    In my previous role, I streamlined processes to enhance efficiency and reduce errors, leading to significant improvements.

    • Implemented a new tracking system that reduced processing time by 20%.

    • Conducted regular training sessions for team members to ensure adherence to updated procedures.

    • Collaborated with cross-functional teams to identify bottlenecks and develop solutions.

    • Utilized data analytics to monitor performance m...

    • Answered by AI
    Add your answer

Process Associate Interview Questions & Answers

user image Anonymous

posted on 8 Apr 2025

Interview experience
2
Poor
Difficulty level
-
Process Duration
-
Result
-
  • Q1. AP accounting process
    • Add your answer
  • Q2. GST TDS related
    • Add your answer

HR Executive Interview Questions & Answers

user image Anonymous

posted on 12 Jan 2024

Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Naukri.com and was interviewed in Dec 2023. There were 2 interview rounds.

Round 1 - Technical 

(2 Questions)

  • Q1. About your previous experience
    • Add your answer
  • Q2. Roles & Responsibility
    • Add your answer
Round 2 - Behavioral 

(1 Question)

  • Q1. Self Intro & Previous experience with technical questions
    • Add your answer

Interview Preparation Tips

Interview preparation tips for other job seekers - Prepare yourself with what you’ve worked previously

Top trending discussions

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Interview Hub
1w (edited)
anshitanegi
·
ex -
Planet Spark
When HR’s Chinese English made me drop the interview!
So, I talked to the HR yesterday about the interview. I asked Please send me the location But their English… bro I was shocked! It was like talking to someone jisne english nahi kuch ar hi seekh liya ho, if the HR’s English is this I can only imagine the rest of the company I decided to drop the interview with this chinese english😶‍🌫️
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Auditics Private Limited Interview FAQs

How many rounds are there in Auditics Private Limited interview?
Auditics Private Limited interview process usually has 2-3 rounds. The most common rounds in the Auditics Private Limited interview process are Technical, One-on-one Round and HR.
How to prepare for Auditics Private Limited interview?
Go through your CV in detail and study all the technologies mentioned in your CV. Prepare at least two technologies or languages in depth if you are appearing for a technical interview at Auditics Private Limited. The most common topics and skills that interviewers at Auditics Private Limited expect are Accounting, Excel, Accounts Payable, Vendor Reconciliation and Advanced Excel.
What are the top questions asked in Auditics Private Limited interview?

Some of the top questions asked at the Auditics Private Limited interview -

  1. What are the differences between FIFO (First In, First Out) and LIFO (Last In, ...read more
  2. What is variance analysis, and how do you plan to apply it in an inventory audi...read more
  3. What are the first three accounting standards and how do they apply in practi...read more
How long is the Auditics Private Limited interview process?

The duration of Auditics Private Limited interview process can vary, but typically it takes about less than 2 weeks to complete.

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Auditics Private Limited Interviews By Designations

Interview Questions for Popular Designations

Overall Interview Experience Rating

4/5

based on 24 interview experiences

Difficulty level

Easy 14%
Moderate 86%

Duration

Less than 2 weeks 67%
2-4 weeks 33%
View more

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Auditics Private Limited Reviews and Ratings

based on 144 reviews

4.0/5

Rating in categories

3.9

Skill development

3.9

Work-life balance

3.6

Salary

3.8

Job security

3.7

Company culture

3.5

Promotions

3.8

Work satisfaction

Explore 144 Reviews and Ratings
Auditics Private Limited Salaries in India
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