An aspiring CA goes for an interview:
Interviewer – Do you have experience in finalization of accounts?
CA: Yes, Sir
Interviewer – What is area of your audit specialization?
CA: Assets and liabilities verification.
Interviewer – Where do you show the liabilities in the balance sheet?
CA: It will be outside the books, Sir
Interviewer – Do you know how to verify cash balances?
CA: I don’t know Sir. It is all done at partner’s level in the firm where I learnt my trade.
Interviewer – Do you to know to prepare a bank reconciliation statement?
CA: It is a tough job Sir, this question I skipped in my CA final exams. But I think it is a paper given by the management to the auditor which is to be kept in our working paper file without any verification. It is not checked in a block of 5 years.
Interviewer – What is a bank fixed deposit?
CA: This is an easy question Sir. It is an amount which is used to balance the asset side with the liabilities. We check the arithmetical accuracy using a calculator, spreadsheet and very many advanced statistical tools.
Interviewer – Then what do you then know?
CA: Trained to give evasive replies.
Interviewer -Where did you do your CA training?
CA: P@C.
