5 Common Audit Manager Interview Questions & Answers
Once you are done writing your standout resume and cover letter, you should be turning your attention to finding ways to prepare for the big interview. Why is this preparation so important? If you flub at the first face-to-face meeting, your chances of landing the job decrease greatly. You need to wow the hiring manager, and you can only do that if you properly prepare.
Start this preparation off the right way by reviewing best practice tips and commonly asked interview questions, such as “Where do you see yourself in five years?” or “What do you feel is your biggest weakness?” These basic points will give you the foundation you need, but they may not give you the wow factor you are looking for. Use these specific audit manager interview questions and answers to give yourself an edge with industry-related information you can use to confidently answer questions about accounting.
5 Audit Manager Interview Questions & Answers
What was your role in discovering a problem and helping management fix the issue?
Early in my auditing career, I was analyzing some financial statements when I noticed a discrepancy where an equity was entered into the statement as a liability. This issue was going to cause the business to pay money it should not have to pay. I quickly reported the problem to my direct supervisor, who was able to verify the problem. The discrepancy was quickly changed to properly show the financial status of the company.
Why do you enjoy auditing?
I have always liked to explore the inner workings of different systems. With auditing, I get to see what fits into the system and what should not be in the system of a business’s finances. When I had my first soirÃ©e with auditing I was a simple bookkeeper fresh out of college. I had little experience and no notion I was going to become an internal auditor. As I got more familiar with the computer system the company was using, I started to notice the system was not reconciling. I did a little digging into the inner workings of the system and discovered a coding issue, which I was able to show my manager and eventually fix. Even since that experience, I have enjoyed being able to find and solve problems.
Have you ever discovered fraudulent activity during an audit?
If you had asked me that question two years ago, I would have given you a much different answer. I have discovered fraudulent activity during a big audit of one of my former company’s clients. I was looking at what I thought would be a fairly textbook audit when I started seeing an odd invoice number pop up quarter after quarter. After some digging and being unable to locate this mysterious invoice, I discovered one of the executives of the business had been siphoning money away from the company for five years. Other auditors had looked at the financial records and missed the important signs.
What are some improvements you would make as an audit manager?
As a new audit manager, it would be difficult to come into the position and enact change right off of the bat. I would need to get to know the team and the process before I would be able to really improve the department. I would call a team meeting in order to get a better sense of the team as a whole. I would try to look at recent audits, the role everyone played in those audits and how the audits are documented. After the big meeting, I would hold one-on-one sessions to better assess individual skills and start building relationships. This information would give me a better idea of what needs to be improved and what is already working.
Why do you think the role of internal auditor is important?
An internal auditor is important because he or she can help detect fraudulent activities, but this role has other purposes as well. One of the real reasons this position is so important and so sought after by many companies is because it is one of the few roles that is able to audit internal policies. This assessment ensures employees are following the policies set up and that the policies work for the company as it is right now.
Confidence is a key part of doing well at an interview. Reviewing commonly asked audit manager interview questions and their answers can give you the self-assurance to really impress the potential employer.