What do they talk about in the interview stage etc. Also is it common for people to get an ATAR of 85-95 and get rejected?
I was under the assumption most people with 85+ pretty much get in, if they were offered.
Haha don't get too caught up on what will be asked in the interview. I don't think it's strict, they can ask what they want. I don't feel my interview was really strict, it was flexible in terms of what was asked, and my responses seemed at times to direct the interview. But you will likely get questions on examples of leadership, team work, etc, why you are interested in accounting, what you think accountants are/do, logic problems and more. Just be prepared to go in there and talk. Obviously think about what might be asked, but don't try and prepare scripted responses to a certain question. I'm sure they will tell straight away if an answer sounds prepared or rote learned. Just be genuine, honest and open about why business and specifically accounting is appealing to you.
About rejection with an ATAR above 85 after already being offered a position, I'm not sure to be honest. Obviously, there will be students who are offered BAcc but reject it for UNSW Co-op, cadetships, combined law and completely different degrees because they decide accounting is not for them. So I think if you ended up getting rejected despite getting over 85, it would mean an unusually high number of very high achieving students on the reserve lists. But again, don't worry too much about these things