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AUI4862 EXAM PACK 2024/2025
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AUI4862 EXAM PACK 2024/2025 QUESTIONS WITH DETAILED ANSWERS, COMPILED FROM RECENT PAST EXAM PAPERS. PERFECT FOR EXAM PREPARATION.
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lOMoAR cPSD| 42036583, lOMoAR cPSD| 42036583
UNIVERSITY EXAMINATIONS
OCTOBER/NOVEMBER 2023
AUI4862
Advanced internal auditor’s responsibility in governance, risk management and control
100 Marks
Duration 3 Hours
This paper consists of 13 pages.
Please take note that The
Invigilator App will request you take a
picture of every page of your answer
sheet at the end of the assessment.
Please take note that this does not
replace your formal scan and upload
to your Learning
Management System
(MyExams).
YOUR EXAM QR CODE & QR ACCESS CODE
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INSTRUCTIONS ON THE DAY OF ASSESSMENT:
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CONFIDENTIAL
Page 2 of 13 AUI4862
OCTOBER/NOVEMBER 2023
•
QUESTION MAIN TOPIC MARKS
1 Multiple choice question 20
2 Corporate Governance, Risk Management and Internal Control 80
100
PLEASE NOTE
Although the primary purpose of the examination is to test your knowledge, understanding and
application of the subject matter, the examiners will also consider your ability to organise and
present your knowledge in the written language of an acceptable standard.
, lOMoAR cPSD| 42036583
QUESTION 1 20 marks REQUIRED
For each subsection of this question, choose only one option that you consider to be appropriate
and then write down – as your answer – only the number of that subsection and the letter that
precedes the option. If you think more than one answer is correct, choose the most correct option.
Please answer the subsections of this question in numerical sequence, for example:
1.1 A
1.2 B
Each correct answer is worth 1 mark.
1.1 Internal Audit Standard 2010 states that the chief audit executive must establish a
riskbased audit plan. According to the Standard, when developing the plan, the
following must be taken into consideration:
A. Governance, risk management and controls as discussed in KING IV.
B. The Public Finance Management Act and the Municipal Finance Management Act.
C. The organisation’s risk management framework, including the risk appetite levels
set by management.
D. The Company’s Act and JSE listing requirements.
1.2 External auditors seek to provide an opinion on whether the financial statements present
fairly, in all material respects, the financial position of the company and its financial
performance and cash flows for the period under review. Internal auditors on the other
hand provide assurance on the …
A. Adequacy and effectiveness of governance, risk management and control
processes, which reside outside the main accounting systems.
B. Adequacy and effectiveness of governance, risk management and control
processes, which relate primarily to the main accounting systems.
C. Adequacy and effectiveness of compliance with internal control, which resides
outside the main accounting systems.
D. Fairness of the systems of risk management, control and governance processes,
which reside outside the main accounting systems.
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