The Internal Audit Process: Specific Engagements and Reporting (AUI3703)
Exam (elaborations)
AUI3703 Exam pack 2024
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Course
The Internal Audit Process: Specific Engagements and Reporting (AUI3703)
Institution
University Of South Africa (Unisa)
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The Internal Audit Process: Specific Engagements and Reporting (AUI3703)
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AUI3703
2019 – 2023
EXAM PACK
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Solutions
2.1
1. Assess if the mission statement has been formally defined. Without a mission
statement, the organisation or unit will be without direction.
2. Assess if the mission statement conveys the organisation or unit’s reason for
existence.
3. Assess if the mission has been translated correctly into performance
objectives.
4. Assess if managers are keeping their mission statements in line with the
changing needs and wants of their customers.
5. Assess if the organisation’s reason for existence is still valid and that
customers still have a genuine need for the service provided.
2.2
ECONOMY EFFICIENCY EFFECTIVENESS
• Procurement • Manual vs. EDP. • Product/service
practices. • Paperwork flow. provided.
• Overstaffing. • Systems and • Planning system
• Excess procedures. goals, objectives
materials. • Organizational and detailed
• Avoidable hierarchy and plans.
waste communication. • Results achieved.
• Duplication of • Expectations.
efforts.
• Unnecessary work
steps.
2.3
1. Determine whether realistic targets, objectives and procedures for attaining those
targets have been developed for the framing department.
2. Determine whether management has a method of measuring effectiveness and
whether it is adequate.
3. Determine to what extent the targets and objectives of the framing
department are being met.
4. Determine whether there are any factors that impede satisfactory performanceor
the achievement of results within the framing department.
2.4
I. New software must be acquired to help improve the signing in of new
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paintings
II. Machines must be regularly serviced
III. Staff should be paid overtime
IV. Vacant posts must be filled
V. New machines must be acquired so as to improve the cutting process
VI. Document flow must be efficient.
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