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Can you provide an example of a time when you identified a significant discrepancy during an audit?

Your Answer

How To Answer This Question?

When answering this question, focus on a specific instance where you identified a significant discrepancy during an audit. Start by briefly describing the context: the company, the type of audit, and the nature of the discrepancy. Then, explain the steps you took to investigate and resolve the issue. Highlight your analytical skills, attention to detail, and ability to follow through with corrective actions. Conclude with the outcome and any lessons learned. For example:

"During an internal audit at XYZ Corporation, I discovered a significant discrepancy in the accounts payable records. The records showed a recurring payment to a vendor that was not authorized. I conducted a thorough investigation, which involved cross-referencing invoices, payment records, and communication logs. I identified that the discrepancy was due to a clerical error that had gone unnoticed for several months. I reported the issue to management, who took immediate corrective action, and we implemented additional checks to prevent similar errors in the future. This experience reinforced the importance of meticulous record-keeping and regular audits."

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