The Internal Audit Process: Test of Controls (AUI3702)
Exam (elaborations)
AUI3702 EXAM PACK 2024
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Module
The Internal Audit Process: Test of Controls (AUI3702)
Institution
University Of South Africa (Unisa)
Book
Auditing Notes for South African Students
AUI3702 Latest exam pack questions and answers and summarized notes for exam preparation. Updated for 2024 exams . For assistance Whats-App.0.6.7..1.7.1..1.7.3.9 . All the best on your exams!!
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QUESTION MAIN TOPIC MARKS
1 Multiple-choice questions 15
2 Short Question 10
3 Revenue and Receipt Cycle 20
4 Payroll Cycle and Fraud 25
5 Financial and Operational Audit 30
100
QUESTION 1 15 marks
REQUIRED
For each subsection of this question, select one alternative that you consider to be the
most appropriate answer. In your answer book, write down the number of the
subsection, and next to it the letter representing the alternative you have selected.
Answer the sub-questions in numerical sequence, for example:
1.1 A
1.2 C
Each correct answer is worth 1 mark.
1.1 One payroll audit objective is to determine whether the segregation of duties is
proper. Which of the following activities is incompatible?
A. preparing attendance data and preparing the payroll.
B. preparing the payroll and filing payroll tax forms.
C. signing and distributing the payroll cheques.
D. hiring employees and authorising changes in the pay rates.
1.2 Select the most effective audit engagement procedure. Audit engagement
procedures for assessing the efficiency of an online ordering system include:
A. review copies of weekly and monthly reports that show system availability
(uptime) and terminal.
B. compare the cost of processing the orders manually with the cost of the
online system.
C. compare the cost of developing the order entry system with the cost of
developing other applications.
D. determine the total number of transactions processed by the system for
each of the previous 12 months and note any fluctuations.
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