17 Assurance Associate Interview Questions and Answers

As an assurance associate, you’ll be providing support to assurance partners and managers in the performance of their duties. This may include conducting fieldwork, preparing reports, and assisting with the development of new business. Your job is important—after all, the quality of the work performed by assurance associates has a direct impact on the reputation of the firm.

Before you can start your new job, though, you’ll need to go through the interview process. This guide will help you prepare for your interview by providing you with sample answers to the most common assurance associate interview questions.

Are you familiar with the AICPA’s auditing standards?

The American Institute of Certified Public Accountants (AICPA) is a professional organization that sets standards for auditing. The AICPA’s Auditing Standards Board publishes the standards, which are updated every five years. Your answer should show that you understand these standards and how they apply to your work as an assurance associate.

Example: “Yes, I am familiar with the AICPA’s auditing standards. In fact, I have used them in my previous role as an auditor at XYZ Company. These standards help me perform my job by providing guidance on what information to look for when performing audits. They also provide guidelines on how to report findings and recommendations.”

What are the key differences between a financial statement audit and an audit of internal controls?

This question is a great way to test your knowledge of the two most common types of audits. It also allows you to show that you understand how each type of audit can be beneficial for an organization. When answering this question, it can be helpful to list out the key differences between financial statement audits and internal controls audits.

Example: “The main difference between a financial statement audit and an audit of internal controls is the scope. A financial statement audit focuses on reviewing the accuracy of financial statements while an audit of internal controls looks at the effectiveness of an organization’s internal control procedures. Another major difference is who performs these audits. Financial statement audits are usually performed by external auditors while internal controls audits are typically conducted by in-house staff.”

How would you respond if you discovered a fellow associate had not followed proper auditing procedures?

This question can help the interviewer assess your ability to work with others and how you respond to challenges. Your answer should show that you value teamwork and are willing to support your colleagues when needed.

Example: “I would first speak with my colleague about their actions, as I believe it’s important to understand why they made a mistake. If they were new to the company or department, I would offer them additional training so they could learn proper procedures. If they had been working for the company for some time, I would discuss what steps they need to take to improve their performance.”

What is your process for ensuring that you have properly identified all relevant audit risks before beginning an audit?

This question can help the interviewer understand how you approach your work and ensure that it’s done thoroughly. Your answer should show that you have a process for identifying risks, but also that you’re willing to take initiative when necessary.

Example: “I start by reviewing the client’s financial statements and other relevant documents to identify any areas of concern. I then discuss these with my team members to see if they notice anything else that might be an issue. If we don’t find anything, I’ll ask the client about their business processes and operations to learn more about what could cause issues in their company. This helps me make sure I’m covering all possible audit risks.”

Provide an example of an assurance service you would recommend for a client based on their financial statements.

The interviewer may ask you this question to assess your ability to make recommendations based on financial statements. Use examples from past experience where you made a recommendation and the client followed through with it.

Example: “In my last role, I worked with a client who was looking for ways to reduce their expenses while maintaining their revenue. After reviewing their financial statements, I recommended they implement an expense reduction program that would help them save money without affecting their revenue. The client agreed to the recommendation and implemented the program. They saved over $100,000 in one year.”

If you were in charge of training new assurance associates, what would you teach them?

Interviewers ask this question to see if you have any special training methods or techniques. They want to know that you can teach others and help them learn the job quickly. In your answer, explain what you would cover in a training program and why it’s important for new employees.

Example: “I would start by teaching my team how to use our software. I find that many assurance associates don’t know how to navigate through the system and enter data correctly. I would also show them how to perform basic tasks like running reports and analyzing client information. These skills are essential to performing the job well, so I think it’s important to make sure everyone knows how to do them.”

What would you do if you noticed a recurring error in one of your colleagues’ work?

This question can help the interviewer assess your ability to work with others and communicate effectively. Your answer should show that you are willing to offer constructive feedback, even if it’s about a colleague.

Example: “I would first make sure I understood exactly what was causing the error. Then, I would talk to my colleague in private and explain why the recurring error is important to fix. If they still didn’t understand or refused to change their work, I would ask them to speak to our manager so we could find a solution together.”

How well do you handle stress? Can you perform your duties effectively under pressure?

Assurance associates often work under tight deadlines and pressure to meet client expectations. Employers ask this question to make sure you can handle the stress of the job. In your answer, explain how you manage stress in your life. Share a few strategies that have helped you stay calm and focused on your tasks.

Example: “I am an organized person who likes to plan ahead. This helps me feel less stressed when I know what is coming up next. When I first started working as an assurance associate, I would get overwhelmed by all the projects I had to complete each day. Now, I use my planner to keep track of everything I need to do. I also take short breaks throughout the day to help relieve some of the stress.”

Do you have any experience working with financial software?

Assurance associates often use financial software to complete their work. The interviewer may ask this question to learn about your experience with specific types of software and how you’ve used it in the past. If you have experience using a particular type of software, explain what you like most about it. If you don’t have any experience working with financial software, consider explaining which other types of software you’re familiar with.

Example: “I’ve worked with several different types of financial software throughout my career. I find that I’m most comfortable with accounting software because I can use it to record all of the information for an organization’s finances. I also enjoy using project management software because it allows me to organize my tasks and communicate with my team members.”

When performing an audit, you find that management intentionally hid information from shareholders. What do you do?

This question is designed to test your ethics and values. It’s important that you demonstrate a commitment to honesty, integrity and compliance with regulations.

Example: “In this situation, I would first report the management for any violations of company policy or laws. Then, I would inform shareholders about the violation and provide them with all relevant information. If there are no legal ramifications, I would also recommend that management take steps to ensure it doesn’t happen again.”

We want to improve our internal communication. Describe your strategy for improving communication between assurance associates and other departments.

Assurance associates often work with other departments, such as IT and finance. The interviewer wants to know how you will improve communication between these teams. Use examples from your previous experience that show you can collaborate with others to solve problems or achieve goals.

Example: “I have found that the best way to improve internal communication is by creating a culture of trust. I encourage my team members to share their ideas and concerns with me so we can discuss them openly. This helps us find solutions together rather than keeping our thoughts to ourselves. It also allows us to build relationships with each other so we feel comfortable asking for help when needed.”

Describe your strategy for building trust with clients.

When working as an assurance associate, you’ll need to build a strong relationship with your clients. This is because they will be relying on you for advice and guidance when it comes to their financial matters. When answering this question, try to explain how you plan to get to know your clients and learn about their needs.

Example: “I believe that trust is the most important part of my job. I always strive to make sure my clients feel comfortable talking to me about any concerns or questions they have. To do this, I take time to listen to them and ask open-ended questions so they can share more information. I also like to send them periodic updates on their accounts so they know what’s going on.”

What makes you stand out from other candidates?

Employers ask this question to learn more about your qualifications and how you can contribute to their company. Before your interview, make a list of your strengths and accomplishments that relate to the job description. Choose two or three skills from your resume that show you have what it takes to succeed in this role.

Example: “I am an excellent communicator who is always willing to help others. I also have five years of experience working as an assurance associate, which means I know all the ins and outs of this position. My communication skills are especially helpful when speaking with clients because I can explain complex financial information in ways they understand.”

Which industries do you have the most experience working in?

This question can help the interviewer understand your experience level and how it may relate to their company. Use this opportunity to highlight any relevant skills you have that would be helpful in this role, such as industry-specific knowledge or soft skills like communication.

Example: “I’ve worked primarily with financial institutions for the past five years, but I also have experience working with small businesses and startups. In my previous position, I helped a startup grow from $1 million in revenue to over $10 million within two years by implementing new processes and procedures. This experience has given me valuable insight into what works well for smaller companies and how I can apply those strategies to larger organizations.”

What do you think is the most important skill for an assurance associate to have?

This question is an opportunity to show the interviewer that you have a strong understanding of what it takes to be successful in this role. Your answer should include a skill that you feel confident using and one that you are currently working on improving.

Example: “I think the most important skill for an assurance associate is communication. This job requires us to communicate with our team members, clients and other stakeholders about financial information. I am always prepared to speak confidently about my findings and explain complex concepts in ways that everyone can understand. In my previous position, I took a public speaking course to help me prepare for these types of situations.”

How often do you perform quality checks on your work?

This question can help the interviewer understand how you ensure your work is accurate and meets client expectations. Your answer should show that you have a system in place to check your work for accuracy, including double-checking calculations or comparing data with other team members.

Example: “I perform quality checks on my work throughout the entire assurance process. I start by checking all of my math and making sure it’s correct before entering any data into the computer. Once I enter the data, I compare it to what my colleagues entered so we’re all working from the same information. Finally, once I’ve completed my analysis, I review my findings one last time to make sure they’re consistent.”

There is a conflict between two colleagues. How do you handle it?

This question is an opportunity to show your interpersonal skills and ability to resolve conflicts. When answering this question, it can be helpful to describe a specific situation where you helped two colleagues work through their differences and find common ground.

Example: “In my previous role as an assurance associate, I had the opportunity to help two of our senior accountants who were having a disagreement about how to complete a project. The disagreement was causing stress for both employees and impacting their productivity. I met with each employee separately to understand what they wanted from the other person and why they felt so strongly about their position. After understanding their perspectives, I worked with them to create a compromise that would allow them to continue working together.”