B. K. Khare & Co Article Assistant Interview Questions and Answers

I am a dedicated and hardworking individual with a strong interest in the field of accounting and finance.

• I have completed my Bachelor's degree in Accounting and Finance from XYZ University.

• During my studies, I gained practical experience through internships at ABC Accounting Firm and XYZ Bank.

• I have a good understanding of financial statements, taxation, and auditing principles.

• I am proficient in using accounting soft...read more

I can join you in two weeks from now.

• I have a notice period of two weeks at my current job.

• I need to wrap up my current projects before joining a new organization.

• I can start on [specific date].

Yes, I am comfortable with travelling for work purposes.

• I am willing to travel for client meetings, audits, and other work-related tasks

• I understand that travelling may be required occasionally and I am prepared for it

• I have previous experience travelling for work during internships or previous jobs

Yes, I have a vehicle for daily commute to the office and back home.

• Yes, I have a car that I use for daily transportation.

• I ensure regular maintenance of my vehicle to avoid any breakdowns.

• Having a vehicle allows me to be punctual and reliable for work.

• In case of emergencies or late hours at work, having a vehicle is convenient for safe travel.

Audit is a systematic examination of financial records, statements, and transactions of an organization.

• Audit is conducted to ensure accuracy, reliability, and compliance with laws and regulations.

• It involves examining financial records, statements, and transactions of an organization.

• Auditors provide an opinion on the fairness and accuracy of the financial statements.

• Types of audits include internal audit, external au...read more

Statutory audit is mandatory and conducted by external auditors while internal audit is voluntary and conducted by internal auditors.

• Statutory audit is conducted to ensure compliance with legal and regulatory requirements while internal audit is conducted to evaluate and improve the effectiveness of internal controls.

• Statutory audit is mandatory for all companies while internal audit is voluntary and can be conducted b...read more

A purchase checklist in manufacturing entities ensures all necessary items are acquired for production.

• Identify required raw materials and components

• Check inventory levels to avoid overstock or stockouts

• Verify supplier credentials and negotiate prices

• Ensure timely delivery schedules are met

• Monitor quality of purchased items

I am looking for a competitive salary that reflects my skills and experience, ideally in the range of $X to $Y.

• Research industry standards: For example, according to Glassdoor, the average salary for this role is $X.

• Consider my experience: With X years in the field, I bring valuable skills that justify a higher salary.

• Be open to negotiation: I am flexible and willing to discuss a compensation package that includes bene...read more

One of the best audit remarks discovered was related to identifying a significant financial discrepancy in the company's revenue recognition process.

• Identifying a significant financial discrepancy in revenue recognition process

• Highlighting potential risks in the company's financial reporting

• Providing recommendations for improving internal controls

Types of audit include financial audit, operational audit, compliance audit, and forensic audit.

• Financial audit: examines financial statements to ensure accuracy and compliance with laws and regulations

• Operational audit: evaluates the efficiency and effectiveness of operations within an organization

• Compliance audit: verifies adherence to laws, regulations, and internal policies

• Forensic audit: investigates potential fra...read more

Internal audit provides a more comprehensive view of the organization's operations and helps identify areas for improvement.

• Internal audit focuses on evaluating and improving the effectiveness of an organization's risk management, control, and governance processes.

• Statutory audit is a legal requirement and focuses on ensuring compliance with applicable laws and regulations.

• Internal audit provides valuable insights into...read more