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Aue2602 Assignment 7 Semester 1 2024
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Assessment 7 (page 1 of 15) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=210 Dashboard Calendar
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Question 1 / My courses / AUE2602-24-S1 / Welcome Message / Assessment 7
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You obtain the following payroll information from the payroll manager. The payroll system has been set up to account for the standard
hours in accordance with the employment contract. Fuel attendants who work additional hours are required to complete an overtime
form which is sent to the payroll department weekly for capturing by Mr Diesel, the payroll clerk. The system automatically calculates
the gross and nett wages along with the relevant deductions. These calculations are not reviewed.
Which one of the following risks will be a consequence of the fact that the wage calculations are not reviewed?
Select one:
a. Unauthorised access to the payroll system.
b. The hours on the system may be incorrect.
c. Risk of unauthorised hours worked.
d. Personnel costs may be overstated.
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The activities below all represent control weaknesses in the system. Which one of these weaknesses is due to management overriding
the controls?
Select one:
a. The finance manager prepares the schedule of payments monthly and approves the payment on the bank’s EFT software.
b. The chief financial officer has write access to the masterfile as well as approval to make masterfile amendments.
c. The purchasing manager does not check supplier invoices against the purchase orders prior to approving the invoices.
d. The warehouse manager does not check the condition of goods received prior to acknowledging receipt of the goods in the
warehouse.
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Question 3 / My courses / AUE2602-24-S1 / Welcome Message / Assessment 7
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Which one of the following application controls is an example of a sequence check?
Select one:
a. The creditors masterfile is amended by the creditors clerk after logging in with his/her username and password.
b. The creditors clerk will have to type in the supplier’s 10-digit account number in order to record transactions on the supplier’s
account in the creditors masterfile.
c. The system will not allow a purchase order to proceed for authorisation unless the quantity order field is completed.
d. The masterfile amendment forms are checked against the log to identify any missing forms.
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Starlight Wholesalers Ltd is a manufacturer of branded sneakers for retail stores. The audit senior has requested that you attend the
year-end inventory count.
At the year-end inventory count you observe that the warehouse controller walks through the warehouse and inspects that all sections
are counted. He further selects items at random for counting and supervises count teams recounting items where there are
discrepancies.
Which one of the following statements reflects the most correct impact of the above-mentioned observation on the inventory count?
Select one:
a. The warehouse controller can be confident that all count sheets were accurately completed.
b. The warehouse controller can be confident that any differences from the physical count and perpetual records are due to theft.
c. The warehouse controller can be confident that all items of inventory in the warehouse were counted and exists.
d. The warehouse controller can be confident that the damaged or obsolete inventory has been identified.
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You obtain the following payroll information from the payroll manager. The overtime report is run by Mrs Thabane, the payroll
administrator, and sent to the service station manager for authorisation if overtime hours exceed 25% of standard hours. Mr Ram, the
payroll manager, analyses the payroll of each service station on a monthly basis and prepares a variance report for the finance manager,
Ms Nkosi.
Choose the option below that will best complete the following sentence: The overtime report is sent to the station manager for
authorisation only when the overtime hours exceed 25% of standard hours. This can be considered a …
Select one:
a. risk in the system
b. test of control in the system
c. control deficiency in the system
d. control activity in the system
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