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Summary Aui3703 Assessment 1 S2 2024
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AUI3703-24-S2 Welcome Message Assessment 1QUIZ
Started on Friday, 30 August 2024, 10:40 AM
State Finished
Completed on Friday, 30 August 2024, 11:43 AM
Time taken 1 hour 2 mins
Grade 58.00 out of 60.00 (96.67%)
Question 1
Correct
Mark 1.50 out of 1.50
Which one of the following activities may be performed by an internal auditor?
a. Designing systems of control.
b. Implementing systems of control.
c. Drafting procedures for systems of internal control.
d. Reviewing systems of internal control before implementation.
Your answer is correct.
Question 2
Correct
Mark 1.50 out of 1.50
Which one of the following alternatives is not a key concept of an internal audit mission statement?
a. Being objective in performing duties.
b. Providing assurance.
c. Following a control-based approach.
d. Enhancing and protecting organisational value.
Your answer is correct.
,Question 3
Correct
Mark 1.50 out of 1.50
Which one of the following alternatives is not a key concept of an internal audit mission statement?
a. Being objective in performing duties.
b. Providing assurance.
c. Following a control-based approach.
d. Enhancing and protecting organisational value.
Your answer is correct.
Question 4
Correct
Mark 1.00 out of 1.00
Indicate whether the following statement is true or false:
A performance objective is a clear statement of what an organisation, unit or activity wants to achieve. To develop meaningful
objectives the internal auditor must have knowledge of the nature of and requirements for performance objectives.
Select one:
True
False
Question 5
Partially correct
Mark 1.00 out of 3.00
For each of the input and output processes described, indicate whether the process relates to the economy, e[ciency or
effectiveness of the process.
The relationship between actual outputs and planned outputs. E[ciency.
The relationship between planned inputs and actual inputs regarding unit costs. Economy.
The relationship between actual inputs and actual outputs. Effectiveness.
Your answer is partially correct.
You have correctly selected 1.
, Question 6
Correct
Mark 1.50 out of 1.50
Risk management, control and governance processes may be regarded as effective if such processes are planned and
designed in a manner that provides reasonable assurance that...
a. all organisational objectives and goals will be achieved.
b. all irregularities will be eliminated.
c. expenses will be minimised.
d. all business risks will be eliminated.
Your answer is correct.
Question 7
Correct
Mark 5.00 out of 5.00
Indicate for each of the recommendations listed below whether it relates to economy, e[ciency or effectiveness.
All vacant positions should be ]lled, and staff should be adequate in relation to the functions that need to be performed.
E[ciency.
The factors that can impede satisfactory performance should be identi]ed and addressed. Effectiveness.
The procurement policy should outline the procedures that should be followed when procuring new machinery.
Economy.
Cost-bene]t studies should be completed, and the results of the cost-bene]t studies should be taken into consideration before
the selection of suppliers. Economy.
All targets and objectives should be communicated to staff in a timely manner. Effectiveness.
Your answer is correct.
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