Deloitte USI Interview (1st & 2nd Round):
1. Audit Materiality ad Performance Materiality?
2. Bank reconciliation statement (BRS)
3. Case Study on Ind as 115, when to recognize revenue?
4. Ind as 115 recognition criteria (5 steps model)?
5. Diff. between Ind as 116 Vs. Ind as 17
6. PO definition
7. Independence
8. Audit planning, strategy
9. Diff. between Operating effectiveness ad design effectiveness.
10. When to recognize revenue in Bill of “FOB shipping basis ad FOB destination basis”?.
11. Diff. between Management representation letter (MR) and Engagement letter (ER) ?
12. Why do you think Risk assessment is imp. And how do we do that?
MD ROUND
1. Journal entry for the prepaid expenses ac?
2. If in an environment, we are suffering from inflation according to you which method of accounting in Inventory LIFO or FIFO gives you the higher value of Inventory.?
3. In this ongoing covid – 19 scenario how will you evaluate going concern assumption taken by management?
4. What is (MR) management representation letter, why auditor used to take that?
5. What is Permanent audit file?
6. What comprises of financial statements and explain what auditor looks into them?
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