How to Answer: Why do companies require audits?
Advice and answer examples written specifically for a Senior Auditor job interview.
21. Why do companies require audits?
How to Answer
This question tests your understanding of the audit process beyond just the basic technical aspects.. Being able to answer this question shows you have a firm understanding of one of the basics of the profession.
Written by Brian Schuchart on January 4th, 2021
Answer Example
"Audits can be required for a variety of reasons. Most commonly, lenders and investors demand audits to ensure that an organization's accounting and financial reporting is free of material misstatement or errors. Some organizations, such as not-for-profits, may be required to have an audit performed by a regulatory body or grant stipulation. In some cases, an organization may choose to have an independent audit performed as good practice."
Written by Brian Schuchart on January 4th, 2021
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