P1 started off by asking my about any financial irregularities I observed and rectified as an auditor.
I talked about a stock verification which resulted in a significant provision for damaged inventory
P1 moved the discussion to disclosures in the financial statements and the manipulative effect they have. His question was what is an auditor's responsibility.
I talked about reading these disclosures thoroughly, and certain sections in the audit reports that help us communicate to the shareholders clearly in the event of disagreement
P1 asked about tech in evaluation these disclosures.
I said nothing as of now as they are very subjective. We conduct multiple level of reviews, and even employ experts to evaluate these disclosures.
P1 asked me about Triple Bottom Line (answered)
P1 then asked me about correlation and regression (answered)
There was then 2 question on advanced stats and differentiation
I said I was short of knowledge explaining that i have only done this till 10th. However, i said, i plan on actively pursuing courses on basic business maths before joining the college to make me more comfortable.
P2 took over. Asked me about 'esg'. I wasn't sure. He encouraged me to try. I was able to arrive at e-environmental, s-social but not g. To navigate towards the G, he asked me about shareholders activism and then an example of it (talked about Zee entertainment case) which finally resulted in the terms corporate governance and I was able to arrive at g-governance.
Lastly, he asked me about whether any mechanism to protect minority shareholders. I talked about small shareholders directors.
PS: I had to wait for almost 3 hours.
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