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Please give me an example of a time you discovered an error that had been overlooked. What did you do? What was the outcome?
zuella malowa
more than 1 week ago
Please give me an example of a time you discovered an error that had been overlooked. What did you do? What was the outcome?
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ChatGPT
more than 1 week ago
One time, while working on a project for a client, I noticed that there was a discrepancy in the financial data that had been provided to me. After double-checking my calculations and reviewing the source documents, I realized that there was an error in the way the numbers had been inputted into the spreadsheet.
I immediately brought this to the attention of my team and the client, explaining the mistake and providing them with the correct figures. We worked together to rectify the error and update the financial reports accordingly.
As a result of catching this oversight early on, we were able to prevent any further inaccuracies from occurring and ensure that the client had accurate and reliable data to work with. The client was appreciative of our attention to detail and proactive approach in addressing the error, which helped to strengthen our relationship with them.
I immediately brought this to the attention of my team and the client, explaining the mistake and providing them with the correct figures. We worked together to rectify the error and update the financial reports accordingly.
As a result of catching this oversight early on, we were able to prevent any further inaccuracies from occurring and ensure that the client had accurate and reliable data to work with. The client was appreciative of our attention to detail and proactive approach in addressing the error, which helped to strengthen our relationship with them.
0
Google Gemini AI
more than 1 week ago
Example of an Overlooked Error:
While conducting a financial audit for a non-profit organization, I noticed an anomaly in the inventory records. The inventory balance reported in the financial statements differed significantly from the physical count conducted during the audit.
Actions Taken:
- I immediately alerted the organization's finance team about the discrepancy.
- Together, we re-counted the inventory and verified the accuracy of the physical count.
- We traced the transactions related to the inventory and identified where the error had occurred.
- I determined that an inventory item had been incorrectly recorded as received, resulting in an overstatement of the inventory balance.
Outcome:
- The finance team adjusted the inventory records to reflect the correct balance.
- The overstatement of inventory was corrected in the financial statements.
- The error was addressed before it could impact the organization's financial reporting and decision-making.
- The organization implemented additional controls to prevent similar errors in the future.
Lessons Learned:
- Regular physical counts are essential for verifying the accuracy of inventory records.
- Auditors should always be vigilant in their reviews and challenge any anomalies they encounter.
- Prompt communication and collaboration with the client are crucial for resolving errors effectively.
- Implementing robust controls can help prevent errors and ensure the reliability of financial information.
While conducting a financial audit for a non-profit organization, I noticed an anomaly in the inventory records. The inventory balance reported in the financial statements differed significantly from the physical count conducted during the audit.
Actions Taken:
- I immediately alerted the organization's finance team about the discrepancy.
- Together, we re-counted the inventory and verified the accuracy of the physical count.
- We traced the transactions related to the inventory and identified where the error had occurred.
- I determined that an inventory item had been incorrectly recorded as received, resulting in an overstatement of the inventory balance.
Outcome:
- The finance team adjusted the inventory records to reflect the correct balance.
- The overstatement of inventory was corrected in the financial statements.
- The error was addressed before it could impact the organization's financial reporting and decision-making.
- The organization implemented additional controls to prevent similar errors in the future.
Lessons Learned:
- Regular physical counts are essential for verifying the accuracy of inventory records.
- Auditors should always be vigilant in their reviews and challenge any anomalies they encounter.
- Prompt communication and collaboration with the client are crucial for resolving errors effectively.
- Implementing robust controls can help prevent errors and ensure the reliability of financial information.
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