Thinking Bridge: Get Skilled, Get Placed!

104, Plaza-1, South Ex Part-II, New Delhi-110049

Important Interview Questions and Topics

Internal Audit
S.No Important Questions & Topics to Study for Interviews

.in
1 Can you briefly explain a company’s value chain in general?
2 What are the business processes that you have previously reviewed?
Please explain a business process such as Revenue/ HR Payroll in
detail?

ge
3 What are the top 7 key risks in an order to cash cycle?
4 What are the top 7 risks in HR Payroll process?
5 What is Average Collection Period (ACP)? How would you calculate it?
6 How can you prevent the risk of absconding employees in a company?

id
7 What can be the controls around the customer invoicing process?
8 What kind of controls would you recommend mitigating the risk of
unauthorized changes to rate/ price master

br
9 What are the controls to mitigate risk of misappropriation of cash?
10 Ind AS on revenue recognition, revenue from contracts, leases
11 What kind of data analytics would you perform on a customer master?
ng
12 What kind of data analytics would you perform on an employee
master?
13 How can you mitigate the risk of ghost employees in a company?
14 Have you previously performed an Internal Audit of any business
process? If yes, what kind of high-risk observations did you find out?
ki

What was your role in that audit? What recommendations did you
give to the management to improve the process?
15 Accounting entries around credit sales, creation of provisions and
in

write-offs
16 What is the difference between Internal Financial Controls and
Internal Controls over Financial Reporting?
.th

17 What kind of controls are covered in SOX and IFC?

18 How would you test an automated control?
19 What is the difference between operational and financial control?
20 How do you perform Test of Operating Effectiveness in SOX?
w
w
w

www.thinkingbridge.in
Phone: ​+91 9650147313 | Email: connect@thinkingbridge.in