JUNIOR LEVEL

What experience do you have with internal audits and compliance checks?

Sample answer to the question

I have experience with internal audits and compliance checks through previous internships and coursework during my degree in Business Administration. In one internship, I helped conduct internal audits to ensure compliance with company policies. I reviewed documents, performed data analysis, and collaborated with different departments to gather information. Additionally, I assisted in developing corrective action plans based on audit findings. My coursework provided me with a solid understanding of quality assurance processes and methodologies, as well as regulatory compliance within the industry.

A more solid answer

I have gained relevant experience with internal audits and compliance checks through my internships and coursework. During my internship at ABC Company, I was part of a team responsible for conducting internal audits to ensure compliance with company policies and industry regulations. I reviewed financial records, analyzed data, and performed interviews with employees to gather information. Based on the audit findings, I collaborated with the team to develop actionable recommendations and corrective action plans. Additionally, my coursework in Business Administration provided me with a comprehensive understanding of quality assurance processes, methodologies, and regulatory compliance within the industry.

Why this is a more solid answer:

The solid answer builds upon the basic answer by providing specific details and examples of the candidate's experience with internal audits and compliance checks. It mentions the candidate's involvement in conducting audits, reviewing financial records, analyzing data, performing interviews, and developing recommendations and corrective action plans. It also highlights their comprehensive understanding of quality assurance processes and regulatory compliance.

An exceptional answer

I have extensive experience with internal audits and compliance checks, both in my professional roles and academic background. In my previous position as an Assurance Associate at XYZ Company, I led multiple internal audit engagements for clients in various industries. This involved planning and executing the audits, assessing risks, testing controls, and evaluating compliance with industry regulations and internal policies. I worked closely with senior management and stakeholders to present audit findings and recommendations for improvement. Additionally, I have pursued further certification in quality management, which has provided me with advanced knowledge and skills in auditing standards, risk management, and compliance. Overall, my diverse experience and expertise make me well-equipped to handle internal audits and compliance checks effectively.

Why this is an exceptional answer:

The exceptional answer goes above and beyond by providing extensive and specific details of the candidate's experience with internal audits and compliance checks. It mentions their leadership role in leading multiple audit engagements, planning and executing audits, assessing risks, testing controls, and presenting findings. It also highlights their pursuit of further certification in quality management, demonstrating their commitment to continuous learning and improvement. This answer showcases the candidate's expertise and makes them stand out as a highly qualified candidate for the Assurance Manager position.

How to prepare for this question

Review the company's policies and industry regulations related to internal audits and compliance checks.
Be prepared to discuss specific examples of audits or compliance checks you have been involved in and the outcomes of those assessments.
Stay updated on current auditing standards, risk management practices, and quality management tools.
Highlight any additional certifications or training you have completed related to auditing and compliance.
Practice articulating your experience and knowledge in a clear and concise manner during mock interviews.

What interviewers are evaluating

Experience with internal audits
Experience with compliance checks