Senior External Auditor Interview

Can you describe your experience in external auditing and how it relates to our industry?

The English section attentions university with the cumulative great major accounting and currently I'm working KPMG Egypt for two years and previously I was I have worked at Deloitte for one year.Mainly the last two years I have an experience in.Construction industry leading construction company in Egypt.

Your answer provides some relevant information about your background and experience in external auditing, particularly in the construction industry. However, it lacks clarity, detail, and structure, which may leave the interviewer wanting more specifics. Here's an evaluation of your answer:

1. Clarity: Your statement about "the English section attentions university" is confusing and likely a typographical error. This detracts from the overall comprehensibility of your response.

2. Detail: While you mention your experience at KPMG and Deloitte, you do not elaborate on specific auditing tasks, challenges faced, or the skills you applied in those roles. Providing concrete examples of projects or achievements in the construction industry could enhance your credibility.

3. Structure: Your response would benefit from a more organized structure. Consider breaking it into three parts: education, professional experience, and specific examples related to the construction industry.

To improve your answer, you could restructure it as follows:

"I hold a degree in Accounting from [University Name], and I have three years of external auditing experience, two of which have been with KPMG Egypt, focusing on a leading construction company. Prior to that, I worked at Deloitte for a year. During my tenure, I conducted audits that involved evaluating construction contracts, assessing project costs, and ensuring compliance with industry regulations.

I have developed a strong understanding of the unique challenges in the construction sector, such as revenue recognition and project financing. For example, I led an audit for a significant construction project where my team identified key areas for improvement in financial reporting, which ultimately enhanced the client's operational efficiency and compliance standards."

Rating: 2/5

This score reflects the need for increased clarity, detail, and structure in your response. By following the suggested improvements, you could present a far stronger answer.

What specific challenges have you faced while auditing construction projects, and how did you address them?

What do you think the construction companies in my last two years of experience, I have taken a very critical accounts in this industry like revenue and inventory and also.And you don't. Revenue has many, many risky and significant risk count like.Like that percentage of completion as the construction revenue recognition method is over time using percentage of completion always have have a lot of estimates.To estimate the costs and also faces.Changing contracts and then the change in orders or variation order.

Your answer touches on important points related to auditing in the construction industry, particularly focusing on revenue recognition and estimating costs. However, there are areas for improvement in clarity, structure, and depth.

Evaluation:

1. Clarity: Your answer is somewhat disjointed and could benefit from clearer phrasing. For example, breaking down your thoughts into specific challenges and the actions you took would enhance understanding.

2. Specificity: While you mention critical areas like revenue and estimates related to the percentage of completion, providing concrete examples of specific challenges you faced (such as dealing with disputes over change orders or inaccuracies in cost estimates) would strengthen your answer.

3. Resolution: You didn’t elaborate on how you addressed these challenges. Discussing specific measures, such as enhancing communication with project managers or implementing more rigorous review processes, would demonstrate your proactive approach.

To improve your answer, consider the following structure:

- Identify a specific challenge: For example, "One major challenge was accurately estimating costs in a dynamic contract environment."

- Explain the approach taken: "I collaborated with project managers to gather realistic estimates and closely monitored project changes."

- Discuss the outcome or learning: "This approach reduced discrepancies in revenue recognition and improved the accuracy of financial reporting."

Rating: 3/5

Your answer shows good knowledge of the challenges but lacks clarity and depth in addressing the question fully. Focusing on specific examples and how you managed challenges would elevate your response.

How do you ensure compliance with relevant accounting standards and regulatory requirements during an audit?

Compliance with relevant accounting standards and regulatory requirements during another requires from me to being most of the time updated and have knowledge about Ifres international financial reporting standards.Which are relevant for?Industry for the company I have.I have ordered uh also.

Your answer touches on essential points related to compliance with accounting standards and regulatory requirements but lacks clarity and depth. Here’s an evaluation of your response:

1. Knowledge of Standards: You mentioned being up-to-date with IFRS, which is crucial. However, you didn't specify which standards are particularly relevant to the construction industry (e.g., IFRS 15 for revenue recognition, IFRS 16 for leases). This specificity enhances credibility and shows deeper understanding.

2. Continuous Learning: Your acknowledgment of the need for continuous updates is good. Expanding on how you stay informed (e.g., attending seminars, reading industry publications, or participating in professional networks) would strengthen your answer.

3. Practical Application: You could improve by explaining how you ensure compliance during an audit. For instance, you might assess internal controls, perform substantive testing, or consult with specialists when necessary.

4. Examples: Incorporating an example of a situation where your knowledge of accounting standards directly influenced your audit work would provide practical evidence of your capability.

5. Language and Structure: Your response has several grammatical errors, which may undermine your professionalism. Structuring your answer more clearly and using precise language would enhance comprehension.

Overall, while you have the foundational knowledge required, your answer lacks structure and specific examples that show your expertise in practice.

Rating: 2/5

To improve your answer, focus on elaborating on your methodology, providing specific examples, and correcting language issues for clarity and professionalism.