Internal Auditor Interview Question:

Can you provide an example of a time when you identified a significant risk during an audit and how did you address it?

As an internal auditor, it is crucial to be able to identify and address significant risks during audits. One example of this was during a recent audit of a company's financial processes. Through careful analysis, I discovered a potential fraud risk related to the handling of cash transactions.

To address this risk, I immediately reported my findings to senior management and recommended implementing stricter controls and regular reviews of cash handling procedures. I also conducted additional testing to ensure that the controls were effective in mitigating the risk.

Overall, by identifying and addressing this significant risk proactively, we were able to prevent potential financial losses and maintain the integrity of the company's financial operations.