Sample interview questions: What strategies do you employ to ensure financial data accuracy and completeness?
Sample answer:
- Data validation: Establishing rules and constraints to ensure data integrity, such as range checks, consistency checks, and data type checks.
- Source system reconciliation: Comparing data from different sources to identify and correct any discrepancies.
- Data aging analysis: Regularly reviewing data to identify any missing or outdated information and taking appropriate action to rectify it.
- Data profiling: Analyzing data to identify patterns, trends, and outliers that may indicate data inconsistencies or errors.
- Internal controls: Implementing procedures and policies to prevent or detect errors and maintain data accuracy, such as data entry controls, authorization limits, and regular audits.
- Data governance: Establishing clear ownership and accountability for data, ensuring that data is managed consistently and accurat… Read full answer