MockQuestions

Senior Auditor Interview

25 Questions and Answers by

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

Senior Auditor was published on January 4th, 2021. Learn more here.

Question 1 of 25

Why do companies require audits?

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Senior Auditor Interview

  1. 1.

    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.

      Brian's Answer

      "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."

      1 Community Answer

      Anonymous Answer

      "Investors rely on the general managers and officers of the companies who actually run the show. These investors require an independent CPA to attest to the financial statements of the Company since an audited financial statement gives a reasonable opinion about the financial health of the Company and helps investors place reliance upon the Company's internal controls over financial reporting."

      Cindy's Answer

      Great. Can you apply your own situation to this question? How have you been able to help clients assess the financial health of a company?

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