Mazars Consultant Interview Questions and Answers

P2P Process involves requisition, approval, purchase order, goods receipt, invoice verification, and payment.

• Requisition: Risk of incorrect or unauthorized requests leading to unnecessary purchases.

• Approval: Risk of delays or errors in approval process causing delays in procurement.

• Purchase Order: Risk of incorrect details or unauthorized purchases being made.

• Goods Receipt: Risk of receiving damaged or incorrect goods,...read more

A ghost employee is a fictitious employee created by someone to embezzle funds from a company.

• Ghost employees may have fake identities and bank accounts.

• They may receive paychecks without actually working for the company.

• To identify ghost employees, cross-check employee records with HR and payroll data.

• Look for discrepancies in employee attendance, performance, and salary payments.

• Conduct regular audits and reviews of ...read more

Perform various checks on purchase order data dump

• Verify accuracy of vendor information

• Check for duplicate PO numbers

• Ensure correct pricing and quantities

• Validate delivery dates

• Confirm approval signatures

P2P process involves requisition, approval, purchase order, goods receipt, invoice receipt, and payment.

• Requisition: Request for goods or services

• Approval: Authorization of the requisition by appropriate personnel

• Purchase Order: Formal document to the supplier specifying the details of the purchase

• Goods Receipt: Verification of goods received matching the purchase order

• Invoice Receipt: Receipt of invoice from the suppl...read more

Key risks identified in internal audit experience

• Lack of segregation of duties leading to potential fraud

• Inadequate controls over financial reporting

• Insufficient IT security measures

• Non-compliance with regulations and policies

• Weaknesses in inventory management

Ghost employees can be identified by cross-referencing payroll records with HR records and conducting regular audits.

• Cross-reference payroll records with HR records to identify discrepancies

• Conduct regular audits of employee information and payroll to detect any anomalies

• Implement strong internal controls and segregation of duties to prevent ghost employees

• Use biometric verification or time-tracking systems to ensure e...read more

You can perform procedures such as creating purchase orders, updating purchase orders, cancelling purchase orders, etc. from a PO dump.

• Creating new purchase orders based on the information in the dump

• Updating existing purchase orders with new information

• Cancelling purchase orders that are no longer needed

• Reviewing and analyzing purchase order data for insights

Valuations can be of various types depending on the purpose and method used.

• Asset-based valuation

• Market-based valuation

• Income-based valuation

• Liquidation valuation

• Replacement cost valuation

Equity represents ownership in a company, while enterprise value represents the total value of a company.

• Equity is the residual interest in the assets of a company after liabilities are paid off

• Enterprise value is the sum of equity, debt, minority interest, and preferred stock minus cash and cash equivalents

• Equity is used to calculate metrics such as return on equity and price-to-book ratio

• Enterprise value is used to c...read more

Comparable company analysis compares multiples of similar public companies while comparable transaction analysis compares multiples of similar M&A deals.

• Comparable company analysis is based on multiples of similar public companies

• Comparable transaction analysis is based on multiples of similar M&A deals

• Comparable company analysis is more commonly used

• Comparable transaction analysis is more accurate but harder to find d...read more