Audit Specialist Interview

Can you explain the process you follow for testing internal controls under SOX Section 404?

How to test the controls for example in change management or in access management if you take the user provisioning control to test the control the user provisioning is usually be a monthly control or a quarterly control depending upon the application to application mostly it will be if it is too critical it will be a monthly basis or else it will be quarterly assuming it to be a quarterly so I will review all the three quarters user provisioning so the process will be like the HR form is raised and sent it to the manager for the approval once the manager approval is received I will see whether there is any secondary manager if applicable and then the road owner sent it to the rule owner for his approval once the rule owner approval yesterday saved it admin will create a credential for the user into the system this is the usual process what I have explained right now it might be different from application to application the actual process of the control will get to know when we attend to walk through meeting in the walk through meeting we will test the test of design by taking the sample of one so if the sample of one is effective will prepare the test of design walk through document once the documentation is done we will request the population to the admin team and I will use a randomizer tool to select the samples once the samples are selected I will send a document request to the admin team I will send documents to the admin team they will be sending back with the evidence once I receive the evidence I'll make sure that the data received is valid to proceed further by doing the completeness and accuracy checkpoints once the complaints and accuracy accuracy test is done I will do my operating test of operating Effectiveness and I'll prepare a walk through document and submit it to my manager this is how I test internal control under Section 404

Your response outlines a structured process for testing internal controls under SOX Section 404, particularly focusing on user provisioning controls within access management. Here’s an evaluation:

1. Clarity and Structure: Your answer follows a logical flow, detailing the steps involved in the testing process, from document review to evidence collection and testing effectiveness. However, it could benefit from a clearer structure with more defined stages (e.g., planning, execution, reporting).

2. Technical Detail: You provided specific details about the user provisioning process and related approvals, which showcases your understanding of internal controls. However, including more on general principles—like the importance of control environment, risk assessment, and monitoring—would enhance your response.

3. Terminology: You mention “test of design” and “operating effectiveness,” which demonstrates familiarity with audit jargon. Nevertheless, briefly explaining these terms could clarify their significance for those less versed in audit practices.

4. Engagement: Engaging with the interviewer by summarizing the importance of SOX Section 404 in ensuring accurate financial reporting would have strengthened your answer.

5. Conclusion: A concluding statement summarizing the importance of your testing in the context of compliance and risk management would round off your answer effectively.

Improvements: Focus on clarity, ensure concise language, and enhance the conclusion to connect your technical steps to the broader implications of compliance with SOX.

Rating: 3.5/5. While your answer is relevant and demonstrates solid knowledge, enhancing clarity and context would improve its effectiveness.

Describe a time when you discovered a significant control flaw. How did you handle it?

While we were conducting the user access review we realized that there is a review quarterly review missing for one of the application we immediately raise the concern with application team and ask for the justification and

Your answer provides a relevant example of identifying a control flaw during a user access review, which aligns with the topic of Finance and Compliance. However, there are areas for improvement to make your response more comprehensive and impactful.

1. Specifics of the Control Flaw: You mention a missing quarterly review but don't explain why this is a significant control flaw. Elaborating on the potential risks involved (e.g., unauthorized access, data breaches) would add depth to your answer.

2. Your Actions: While you indicate that you raised a concern with the application team, you should detail your approach. Did you document the flaw? Did you escalate the issue if it was not addressed promptly? Providing specifics about how you handled the situation demonstrates your proactive and thorough approach.

3. Outcome: Including the outcome of your actions is crucial. Did the application team implement corrective measures? Was there a change in policy or procedure following your discovery? This outcome highlights your impact on the organization and reinforces your problem-solving skills.

4. Reflection and Learning: Concluding with what you learned from the experience or how it influenced your approach to future audits can strengthen your response. It shows your ability to learn and adapt.

Overall, your answer addresses the question but could be enhanced with more details and reflection on the implications and your contributions.

Rating: 3/5

What automated and IT general controls have you tested in your previous roles?

In my previous role I have tested many it General controls such as access management change management Incident Management and it operations as per access management have tested controls relating to user provisioning and deprovisioning that is authentication and authorization and deactivation of the user from the system when no longer needed and the reviewing the user only timely basis this is very essential as per change management I have tested whether the changes system has been followed all the process of change management from change initiation to migration to production with it they have followed four brothers or not and whether they have followed segregation of duties or not and necessary approvals have been taken or not as per Incident Management I have a verified the root cause analysis and service level agreement have met or not if not for the selected samples if not I used to ask for the business justifications and then with regarding to it operations I have worked on backup control the frequency of the backup how long frequency of the job who have access

Your answer effectively outlines the specific IT general controls you have tested in previous roles, covering key areas such as access management, change management, incident management, and IT operations. This demonstrates your familiarity with essential compliance and audit practices, which is crucial for an Audit Specialist position.

Strengths of your answer:
1. Specificity: You provided detailed components of each control area, highlighting your direct experience and understanding.
2. Relevance: Your mention of important elements, like user provisioning and deactivation in access management, indicates a solid grasp of security protocols.
3. Process Awareness: By discussing the change management process in detail, you showed awareness of the importance of structured methodologies in system changes.

Areas for improvement:
1. Clarity and Structure: Consider breaking your response into clearer sections. This helps the interviewer follow your thoughts more easily. Use bullet points when possible.
2. Use of Terminology: Ensure that you explain any technical terms briefly for those who may not be familiar.
3. Examples: If space permits, provide one or two specific examples of challenges you faced or successes you achieved related to these controls. This enhances your narrative.

Overall, your answer demonstrates a solid knowledge base but could be improved by enhancing clarity and including specific examples.

Rating: 4/5.