Sample interview questions: Can you explain your approach to financial compliance audits and risk assessments in global organizations?
Sample answer:
Approach to Financial Compliance Audits and Risk Assessments in Global Organizations
1. Comprehensive Planning:
- Define audit scope and objectives based on applicable regulations, internal controls, and risk appetite.
- Establish a detailed audit strategy, including timelines, resources, and potential impact on operations.
- Engage with key stakeholders to gather information and obtain necessary approvals.
2. Risk Assessment and Mitigation:
- Conduct thorough risk assessments to identify vulnerabilities and potential non-compliances.
- Analyze financial statements, internal controls, and regulatory requirements to assess compliance gaps.
- Develop and implement tailored risk mitigation strategies to address identified vulnerabilities.
3. Audit Execution:
- Review accounting records, supporting documentation, and internal controls in a systematic and comprehensive manner.
- Perform analytical procedures to detect anomalies and areas of potential concern.
- Interview management and staff to gather insights and evaluate the effectiveness of internal controls.
4. Reporting and Remediation:
- Issue comprehensive audit … Read full answer