Problem hai?Andar solution hai Interview Guidebook for Statutory Audit SSP Your ticket toe Top Fuuma Team MentoreshwaroC a Before we proceed A L © — While Preparing for the Articleship interview of Statutory Audit, an Aspirant should try broadening the scope of his/her preparation, however at the same time due attention should be given to the basics of the core subjects in the curriculum. In this guidebook, you will find several important topics, so that you can brush up your concepts well before sitting in interviews. Though it is not humanly possible to guess the interview questions since the recruiters do not for obvious reasons ask copy paste questions from each candidate These topics are of the most significance and are generally asked in most of the interviews. Please note, the subjects (in order of relevance) to be covered while preparing for interviews are: * Auditing & Assurance * Accounting * Taxes * Corporate Law Onwards from here, we will discuss relevant portions to be revised from these subjects. eNtOre, wens i)Cx Auditing Content ex (ow Since the domain is going to be Statutory Audit, special emphasis has to be given to revision of Audit subject. As per the Industry trends, most of the interviews contain questions based on; v Basics of Audit (Financial Reporting framework, True & Fair view, Evidences, Material Misstatement, Inherent Limitations of Audit, Persuasive Vs Conclusive Evidence, Ethical requirements, Reasonable Vs Absolute Assurance, Professional Skepticism) v Audit Documentation ¥ Materiality v Sampling ¥ Audit Opinions ¥v SA 200: Overall objective of an Independent Auditor & Conduct of Audit in accordance with Standards on Auditing v SA 210 : Agreeing the terms of Audit Engagement v SA 315: Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment v SA500 Series vy SA700 Series v Chapter : Audit of Items of Financial Statements v CARO 2020 (Also, CARO 2016 VS 2020) v Cut off procedures Tea,Accounting Content For An Auditor, it’s very essential to have accounting concepts very clear because that’s the only way of becoming proficient in Audit. Let’s jot down what are those basics which we should be clear before sitting for an Articleship Interview for Audit Domain Revise; * Entries for the basic transactions xq * Real, personal and nominal Accounts 4 * Accounting flow - « Types of Errors and Rectification * Depreciation- Meaning, Accounting entry and related adjustments Co After that, delve into topics from your Intermediate syllabus * AS 2,9, 11,18, 19 & 22 = Basics of Ind AS (Applicabil -y, and general stuff) Accounting forms the basis for anything and everything in Auditing. However, as we go in depth of the subjects in CA Curriculum, we tend to lose our grip on the basics of accounting. This is hazardous for interviews and also for your days in Auditing. qhento, om, EB f: a Taxation Content \ In order to be an Internal Auditor, you should also have working knowledge of Taxation. Focus on these topics while preparing for an interview - * Basics of Income Tax & GST * Income Tax Slabs for Individual in Old Scheme & New Scheme * TDS Basics (194C is must) * ITC Basic Wd In Taxation, this will Be mere than “Believe you can and you’re halfway sufficient for your there.” - Theodore Roosevelt interview @ © 9 @ Ee hentor, ‘i,Law Content et id * CSR * Schedule IIl and recent changes thereon * Audit Committee Also, Take basic understanding of recent developments in the world of Business Huh? Kaha se padhna hai?? Newspaper, Magazines,Apps, TV ye sab kab kaam ayenge? E entore,, Te ay, wens& Additional Content - Excel Necessity As a fresher Aspirant, you are not expected to be 100% perfect with it, however, some basic knowledge is a pre-requisite. We suggest investing in a good quality course, so that you know a thing or two about Excel beforehand (if budget permits) Nevertheless, you should at least understand the following things in Excel because interviewer can ask you about these; v Basics v Conditional Formatting a. co v Pivot Table = v Data Validation v Filters v Formulas ( Count, Sum, If, Lookups & their combinations ) sFound this helpful? oo wNY Share it with someone who might need this, be their SUPERHERO Contributors to this guide : £ Gs Do give us a follow Sourabh | Peer Mentor & Creative Head \ ay _wentore, Mentoreshwar 4 Sy 3 Te,