The employer screens for self-review habits and technical thoroughness, because analyst errors can undermine a client pitch or internal decision. This question reveals whether you have a repeatable method for quality control.
Walk through your review process in a logical order: inputs, formulas, outputs, and a second pair of eyes. Mention testing or stress-checking assumptions, which shows you understand how errors can hide.
Start by grounding your answer in a practical sequence, because interviewers want to hear that your review is systematic, not last-minute. Begin with the raw inputs: say you would pull the original data from the client's financial statements or the research database and cross-check every hardcoded figure against that source, line by line, including dates, currency units, and any assumptions like growth rates or discount factors. Then move to the formulas: explain that you would trace each formula across the model, using Excel's trace precedents and dependents, and you would specifically look for broken links, hardcoded numbers hiding inside formulas, and inconsistent ranges that might have been dragged incorrectly. After that, test the outputs by changing one assumption at a time, such as raising revenue growth by a percentage point, and see if the resulting change in valuation or EBITDA makes logical sense; if the output jumps in an unexpected way, you know there is a wiring error. Finally, say you would run a quick sanity check on totals and ratios against industry benchmarks, then save a version and ask a colleague to review it with fresh eyes, because a second person often spots what you have become blind to. Close by mentioning that you would attach a short review note to the file, listing what you checked and any assumptions you flagged, so your manager knows exactly what was verified and what still needs judgment. This shows you own the quality of your work and respect your manager's time.
Avoid saying 'Tingin ko okay naman po, kayo na po bahala mag-check' because it shifts the responsibility to your manager. Instead say: 'I checked the inputs against the source, traced the formulas, and tested the outputs; here is my review note.'
Situation
In a previous internship, I was asked to prepare a simple three-statement model for an internal case study before presenting it to the senior analyst.
Task
I had to ensure every formula, linked cell, and input was correct so the senior analyst could trust the output for the case discussion.
Action
First I checked all input cells against the source data, row by row, with a printed list. Then I traced the main formulas in the income statement and balance sheet to confirm they referenced the right cells. I also toggled a few key assumptions to see if the output changed logically, which helps catch hard-coded numbers. Finally I ran a quick check on totals and subtotals, and asked a fellow intern to do a two-minute visual scan for formatting issues.
Result
The senior analyst accepted the model without corrections and said the toggle test was a smart addition. I documented my review steps and used them for every subsequent model I built.
A systematic self-audit before submission protects your credibility.
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