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Meyers Norris Penny LLP Interview
Questions

27 Questions and Answers by
| Ryan has over 10 years of experience interviewing
candidates in the healthcare, public service, and private manufacturing/distribution industries.

Question 1 of 27

With some of our clients here at Meyers Norris Penny LLP being hesitant to run an internal audit, what points would you use to sell them on the importance of conducting an internal audit?

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Meyers Norris Penny LLP Interview Questions

  1. 1.

    With some of our clients here at Meyers Norris Penny LLP being hesitant to run an internal audit, what points would you use to sell them on the importance of conducting an internal audit?

      At some point in your career, you've likely faced resistance to creating and running an internal audit process regarding accounting practices within an organization. It can be a very touchy subject for a variety of reasons. To help curb resistance, you will be relied upon to point out the importance of internal audits. From your own perspective, reiterate the key points that you would use to sell the development of an internal auditing process to the clients at Meyers Norris Penny LLP.

      Ryan's Answer #1

      "From my experience, increasing industry regulation and compliance with such regulation is a huge selling point to leaders for conducting internal audits. Oftentimes, leaders are well aware of impacts that regulations have on many aspects of their business, but financial records and book keeping often gets overlooked. With my experience and knowledge across many industries, I can speak knowledgeably to high level leaders about how industry regulations can impact accounting practices and audits are the best way to implement positive change."

      Ryan's Answer #2

      "Over the past 10 years, the impact of the digitalization of businesses has greatly increased the need for internal audits of accounting and finance departments. Many factors surrounding the digital impact on organizations have made life tough for accountants and educating leaders on these impacts is essential in today's day and age. Recently, I worked with an organization on an audit that revealed significant gaps in their web invoicing systems. Without the audit, the organization was risking losing hundreds of thousands of dollars in tax money."

  2. 2.

    What would you do in a situation where you just didn't have all of the information you needed from a client? What would be the steps that you took in ensuring you had all of the information possible in creating a financial analysis for a client?

      Consulting with clients at Meyers Norris Penny LLP will likely put you in a situation where you need to put on your investigative detective hat and do some extra digging to be able to provide great results to a client. For this question, talk about your interpersonal skills with your ability to work with others when needed. As well, talk about your ability to research and understand different financial statements and software programs to get the information that you need to solve a problem.

      Ryan's Answer

      "Through my experience in working in corporate finance across many industries during my career, I am confident in my ability to troubleshoot issues I may have along the way when working with new clients. If I ever came across this situation when on a project with a client, I would start be using my best judgement and analytical skills to search for the information on my own in financial statements and accounting software of the client. If I was still left scratching my head, I wouldn't hesitate to sit down with employees in the finance department or leaders of the organization to pull the information that I would need."

  3. 3.

    Which accounting platforms are you familiar working with?

      Coming to work for Meyers Norris Penny LLP as an accountant, your interviewer is looking to hear how fluent you are in working on the technical side of the job. Talk about your experience in working with some of the many accounting programs. No matter which programs you are familiar working with, make sure that your interviewer has the clear understanding that your readily adaptable to working on any program and that you understand the importance these platforms play in your work.

      Ryan's Answer #1

      "As you can see from my resume, my experience over the past 15 years has placed me in a few different industries. With each industry has come experience working with many accounting software programs. I have worked in Infor, QuickBooks, Net Suite and Patriot Accounting over the last five years alone. While they all have their features and benefits that are catered to each industry, I've found myself able to learn systems proficiently and adapt my work to the needs of the systems. If hired here at Meyers Norris Penny LLP, you can rest assured knowing that I would pick up any systems with ease."

      Ryan's Answer #2

      "In my current role, I work exclusively with SBS Financials Suite. I love its ability to custom create reports that are reusable over time and adaptable to be able to use with different internal customers. I also love the budgeting and electronic invoice approval features of this system. In knowing other systems like Workday and QuickBooks, I am confident in my ability to pick-up and work on just about any system quickly and efficiently."

  4. 4.

    Do you have any experience in financial modeling? What skills in financial modeling could you bring to the clients here at Meyers Norris Penny LLP?

      In the corporate finance world at Meyers Norris Penny LLP, clients may look to you to be the expert to help them build forecasting models for the future. For this question, your interview is looking to hear that you have experience in financial modeling. Talk about your experience, what industry it was in and what tools you needed to help build as detailed of a model as possible. To seal the deal for this question, make sure to explain that your experience could be used across many businesses and industries with the clients you would be working with.

      Ryan's Answer #1

      "As you can see from my resume, my corporate finance experience has mostly fallen in the manufacturing industry and financial modeling for forecasting purposes has been a skill that I've been developing over the past ten years. To start, I consider myself a master in Microsoft Excel to build great financial modeling tools that utilize all necessary data from an organization's financial statements. Though my experience is in manufacturing, my skills in financial modeling are ready to be applied to healthcare, banking or any other industry with your clients."

      Ryan's Answer #2

      "I have experience creating financial forecasting models in a few different areas of business. I consider my most unique talent to be my experience in M&A modeling for organizations that are looking to grow their business. In my current role, I've worked with leaders of organizations to strategically plan new acquisitions and modeling M&A for them was an integral part of the process. On top of M&A, I have experience in the standard three statement model and discounted cash flow analysis."

  5. 5.

    If hired for this position here at Meyers Norris Penny LLP, how would you coach our clients to be more detailed in their accounting practices?

      As an accounting professional, you know that a detailed approach to your work is necessary in ensuring that work produced is accurate. Inaccuracy in accounting practices can have significant impact on an organization. As you look to join Meyers Norris Penny LLP, you will be put in a position to teach others the importance of accuracy and methods for ensuring accuracy in their accounting practices. Talk about how you would go about doing this from a high level overview and make sure you give your interviewer the impression that you have the ability to teach accuracy to the clients of Meyers Norris Penny LLP.

      Ryan's Answer

      "Accuracy in accounting practices requires a methodical approach and documented procedures for staff to follow. If hired for this position, my first priority with clients would be to ensure that procedures are in place for staff that entail details on data entry, data confirmation and re-checking work after it is completed. I have a lot of experience creating custom procedures for accounting departments and I would always make sure that department leaders know that they are ultimately responsible for the work that is being put out by their staff."

  6. 6.

    As we work with clients on assessing potentials mergers and/or acquisition, valuation is an important skills to possess. How would you go about placing a value on an organization for a client?

      As you look to join the ranks at Meyers Norris Penny LLP, this question is giving your interviewer the chance to look into your technical skills that you could bring to their clients. For your answer, talk about your ability to take measure of cash flows, revenues, price/earnings ratios and other factors to value a company. Another aspect to keep in mind when answering question is the methods that are most common for a valuing a particular industry. Prior to your interview, try to do as much research as possible on Meyers Norris Penny LLP and the typical clients that they serve.

      Ryan's Answer

      "First and foremost, my valuation method would be strictly dependent on the business and industry that I was consulting in. A majority of my experience in mergers and acquisitions has come in the manufacturing industry. In manufacturing, I have used the discounted cash flow model to properly value small operations and an important factor in this method was future forecasting. In each situation that I used this method, my clients saw significant growth and value in their purchases based on the work that I had done."

  7. 7.

    A key component to success here at Meyers Norris Penny LLP is building solid relationships with new clients. How do you effectively get to know new people and lay the groundwork for a long lasting relationship?

      The fast paced world of business consulting requires the ability to build relationship after relationship with all of the clients that you will potentially be working with. For this question, your interviewer will be looking to gain insight into how you build relationships with new people from the first time you interact with them. In your answer, talk about how you gain and build trust with new people and explain how the little things in your initial interactions go a long way toward building long lasting working relationships.

      Ryan's Answer

      "I am a firm believer that success in any role I've played in my career was due in part to the relationships that I've built in those roles. Whenever I have the chance to work with a new colleague or a new customer, my approach is to create an initial connection with them to build trust. After that point, my interpersonal skills take over through active listening. I use my listening skills to learn about the motivating factors and needs of the person that I will be working with and this helps mold that respect and trust between us even more. I think this approach would be very critical in working with new clients on a regular basis here at Meyers Norris Penny LLP and I'd love the opportunity to bring these skills to the table for you."

  8. 8.

    If working with a client of Meyers Norris Penny LLP and you discovered fraudulent activity, what steps would you take following your discovery?

      Fraud is a serious matter that some auditors come across during their career. While some industries have specific guidelines regarding fraud reporting, talk to your interviewer about the steps that you are familiar with and explain to your interviewer that you always have your fraud detective hat on. As a consultant to clients at Meyers Norris Penny LLP, you will be expected to be the last line of defense against potential fraud.

      Ryan's Answer #1

      "Throughout my career conducting financial audits, I've always adhered to the SAS 99 statements on fraud. As long as I took every step possible in evaluating the risks, verifying that information was correct and verifying actual fraud, I would ensure that my evidence was sound and approach management of the organization and the auditing team with the information that I gathered."

      Ryan's Answer #2

      "The potential discovery of fraudulent activity starts with a methodical approach to the audit, assessing all potential risks and gathering all evidence possible to ensure that fraudulent activity is actually taking place. Once this is all in place, I would take the proper measures to notify leadership of the activity and walk through all necessary steps of documenting the fraud activity and my notification of it to leaders."

  9. 9.

    Would you say that you are a goal oriented person on the job? Why would you say that?

      Success in business consulting is most often measured in the achievement of goals for clients and for this question, your interviewer will ideally be looking to hear that you are driven by goals and that you have the ability to set them as well. In your answer, give your interviewer the sense that you are goal oriented by giving an example or two of a time where you set and worked towards a goal as part of a team effort. Explain your part in the achievement of the goals and your ability to stay focused on the end result.

      Ryan's Answer #1

      "If hired for this position, one of the first things that you'll learn about me is that I am very driven to succeed in all that I do on the job. For me, personal drive definitely centers around goals and my desire to achieve them. I have the focus to set goals myself and to work towards goals that are set by my organization, my leaders or my customers and I would bring this ability with each client that I work with here at Meyers Norris Penny LLP."

      Ryan's Answer #2

      "I would definitely say that I am goal oriented in the work that I do on a daily basis. In project management, I work off of both time related goals and production related goals and these really drive my daily tasks and my delegation of responsibilities to other team members. If given the opportunity to come work for Meyers Norris Penny LLP, my clients would greatly benefit from my ability to both set and achieve goals with them."

  10. 10.

    What logical steps would you take following an internal audit process with our clients here at Meyers Norris Penny LLP?

      If hired for this position, your work as an auditor with Meyers Norris Penny LLP doesn't end when the audit is done. Clients expect follow-up in the form of written reporting. Talk about your ability to write a follow-up report clearly and concisely and do so in a timely manner. To really have an impact on your interviewer, talk about how these steps in your work would hopefully make a repeat client out of those that you work with.

      Ryan's Answer

      "Through my time working with different financial auditors, the follow-up to an audit is often overlooked as most people look to move onto the next project. In reality, clients look for the follow up report to learn and grow from their audit experience and this is a part of the process that I take great pride in. My writing skills are tailored to be to the point and clear in my findings. Without having my head get too bogged down in other work, I write and submit reports to leadership in a very timely manner following the completion of an audit."

  11. 11.

    What steps would you take in creating a new audit process for a client here at Meyers Norris Penny LLP?

      When Meyers Norris Penny LLP is asked consult with an organization on their audit processes, you will be looked upon to be the expert in creating a solid auditing process for them. To get an idea of your knowledge and experience, your interviewer is asking you how you would go about creating a new process from scratch for an organization that you are consulting. While your discussion will certainly be high level without knowing much detail about the specific organization you are hypothetically working with, make sure that you hit the important aspects of creating an audit process.

      Ryan's Answer #1

      "If asked to consult with a new client on their audit process, my first goal would be to determine the overall purpose of the audit. I would have to ask questions about any regulating bodies for the industry and internal quality perspectives that would guide my work. Only when those questions are answered can I move forward with assembling an audit team, giving the team purpose and setting expectations for the new process. With this great start, my leadership skills in the audit process would take over and greatly benefit your clients here at Meyers Norris Penny LLP."

      Ryan's Answer #2

      "Any solid auditing process starts with great planning. Planning includes outlining the scope of the audit, clearly defining what data and information is required to successfully perform the audit and selecting a team of individuals to be a part of the audit process. If hired for this position, you can rest assured knowing that I have great experience in planning for and creating auditing processes across many businesses and industries."

  12. 12.

    In what ways would our clients here at Meyers Norris Penny LLP benefit from your knowledge and services?

      This question is your chance to talk about the unique skills and knowledge that you would bring to Meyers Norris Penny LLP and that is exactly what your interviewer is looking to hear. In your answer, keep your focus centered on how clients of the organization will benefit from the things that you bring to their table because Meyers Norris Penny LLP is client focused in all that they do. To be effective with this answer, be sure to do your research on the clients at Meyers Norris Penny LLP and think about how your experience will be beneficial for them.

      Ryan's Answer #1

      "As you can see from my resume, I have extensive experience in risk management in the healthcare industry. Having worked with some major players in the industry, your healthcare clients would benefit the most from the experience and solutions I could help provide them. Not to leave other industries out, I think my experience in the healthcare realm will also translate nicely to your clients in other areas of the private sector."

      Ryan's Answer #2

      "Having worked in accounting and tax law in a few different industries during my career to this point, I also have the unique experience of creating new organizational policies and procedures in my current role. In hearing more about this role, I think this experience would be very beneficial for your clients as I would be helping advise them in their practices and creating new policy would be crucial in that process."

  13. 13.

    Being successful in the consulting industry requires adaptability and the ability to learn a business fast. What would be your approach to help you learn the ins and outs of a new client?

      Meyers Norris Penny LLP contracts with businesses in different industries for their services and it is likely that your job would require you to learn the fine details of each business that you would work with. Demonstrate your ability to be flexible by giving examples of times you've had to do this during your career. As well, describe the approach that you would take to get the know the businesses you would be working with so you can apply your knowledge and expertise toward helping them.

      Ryan's Answer #1

      "As you can see from my resume, I've been in corporate training and education for over ten years. In my current role, I have to use similar techniques working with different departments to try and tailor programs that meet their specific needs. I feel that my current approach of hosting an intake meeting with leaders would be effective in a consulting role with external customers. The current intake meetings that I lead are an opportunity for me to ask questions and learn as much as I can about my customers. In turn, it is an opportunity for me to lay the groundwork for the project and set expectations. Do you see this as an effective approach for this role?"

      Ryan's Answer #2

      "Having worked in quality roles for most of my career in both the private and public sectors, I think my career experiences have shaped me well for this role. Transitioning to a consultative role would definitely be a transition for me and the biggest transition will be this need to work in many different industries. For me, researching clients, their business and their industry will be the first step to my approach in learning about them. I want to make a great first impression when I am face to face with a new client and that first impression starts with my knowledge. Then, my openness and ability to communicate would take over when I am working directly with clients. I know the right questions to ask for laying out quality initiative projects and I know the right things to educate clients on."

  14. 14.

    What interests you in joining the business consulting world here at Meyers Norris Penny LLP?

      Anytime the question regarding why you want to join the company is asked, it is very important to do your research on the organization and the position you are interviewing for so you can match your skills and desires to the job. In your answer here, be sure that you also speak to the potential move to a consultative type role if this will be the first time for you with a consulting organization. Be sure to highlight your qualities that make you an ideal fit for the job.

      Ryan's Answer #1

      "At this point in my career, I feel like I have really maxed out my capabilities in my current role as the IT Director with my current organization. Over the past two or three years, I've found so much fulfillment in my work when I've been helping others and providing education to them that I've narrowed my job search down to the IT consulting field. The prospect of helping other IT departments grow and become more efficient under my consultation is an adventure that I would love to embark on here at Meyers Norris Penny LLP!"

      Ryan's Answer #2

      "As I've grown in my role in the Training & Education department with my current employer, I've gravitated toward leadership development and succession planning with my organization and I'd like to bring these skills to work here at Meyers Norris Penny LLP as this position fits right in that mold. Using my experience and knowledge, you'll quickly find that I have a great ability to work alongside and train the top level executives with your clients in a manner that is professional and effective at the same time. My experiences in both healthcare and manufacturing sound like they'd fit well with your client base as well."

  15. 15.

    If you are hired for this position here at Meyers Norris Penny LLP, what do you think the biggest hurdle for you would be from the start?

      For this question, you can showcase your research that you've done on both Meyers Norris Penny LLP and the role you are interviewing for by being upfront and honest about what you feel would be the biggest learning curve for you if hired for the position and giving your plan for how you would approach this hurdle. In your answer, make sure that you highlight your skills and abilities in making a molehill out of a mountain on your way to success in this role.

      Ryan's Answer #1

      "As you can see from my resume, most of my career experience is in the food industry. If fortunate enough to be hired for this position, the biggest area for learning for me would be the finance side of other industries like technology, telecommunications and healthcare. From day one, I would begin by thoroughly research the clients here at Meyers Norris Penny LLP and speaking with as many industry experts that I know through business networking. While learning the ins and outs of other industries is the biggest learning curve for me, I see it as a great opportunity for me to become more proficient and effective in the work that I'd be doing for you."

      Ryan's Answer #2

      "While this may sound funny to you at first, I think the biggest challenge for me from the start will be adapting to the great corporate lifestyle and culture here at Meyers Norris Penny LLP. When I saw this position being open for applicants and I did my research, I was extremely excited to hear about the flexibility and openness to the ideas of your staff members. I've been working for six years in an environment that is very opposite of an open culture for new ideas and for me personally, it will feel foreign for me to bring new ideas to the team here and have them be accepted."

  16. 16.

    How do you stay organized and on track when working on a long-term project?

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  17. 17.

    Here at Meyers Norris Penny LLP, we are often brought in to consult with clients on ensuring accounting accuracy in their practices. What tricks, tips and tools will you be able to bring to our clients to help them ensure accuracy?

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  18. 18.

    At Meyers Norris Penny LLP, you will have the opportunity to work with high level executives and leaders from the companies we contract with. What experience do you have in working with people at these levels?

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  19. 19.

    At Meyers Norris Penny LLP, our clients look to us to help find new and creative ways to save tax dollars. Have you ever had a unique situation where you helped an organization save tax dollars through your work and insight?

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  20. 20.

    At Meyers Norris Penny LLP, we expect our accounting professionals to be adaptable to working with clients across many different businesses and industries. Why would you say that you have the ability to adapt your knowledge and skills across different in

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  21. 21.

    As a consultant here at Meyers Norris Penny LLP, you will have the opportunity to work with many accounting departments on tax filing for their business. When called upon, how would you go about verifying the accuracy of an accounting department?

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  22. 22.

    How do you feel that your education and career to this point has prepared you to work in the international tax realm here at Meyers Norris Penny LLP?

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  23. 23.

    Working with our clients here at Meyers Norris Penny LLP often involves some initial conflict with our clients. How would you rate your ability to handle conflict or disagreements in the workplace?

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  24. 24.

    Give an example of a time that you brought an innovation to an accounting practice for an organization. What was your motivation to do this?

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  25. 25.

    If a client you were working with here at Meyers Norris Penny LLP purchased a large asset, how would you explain to them the impact of that purchase on their financial statements?

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  26. 26.

    How do you define working capital and why is it important for our clients here at Meyers Norris Penny LLP to take this into consideration when evaluating their finances?

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  27. 27.

    Our clients here at Meyers Norris Penny LLP rely on our experts to help find new and unique sources of business funding. How would you be able to assist our clients with their funding needs?

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