The Internal Audit Process: Test of Controls (AUI3702)
Exam (elaborations)
AUI3702 Exam Pack 2024
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Course
The Internal Audit Process: Test of Controls (AUI3702)
Institution
University Of South Africa (Unisa)
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The Internal Audit Process: Test of Controls (AUI3702)
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AUI3702
EXAM PACK
2020 - 2024
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2.1 E - Ordinary errors are being made.
2.2 D - Types of internal control activities (Segregation of duties).
2.3 G - Measure the effectiveness of the preventive control (Detective control).
2.4 H - Must be signed and dated by the internal auditor who prepared it (Working paper).
2.5 B - Information that supports engagement observations and recommendations and is
consistent with the objectives of the engagement (Relevant information).
2.6 J - Documentary evidence (Supplier's invoice).
2.7 I - The conclusion that the internal auditor reaches based on the analysis of a sample will
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,differ from those conclusions that would be reached by examining the entire population
(Sampling risk).
2.8 C - A written description of the business process or business unit, which includes the
internal control activities in the system (System description).
2.9 A - The characteristics in the sample selected are approximately the same as those of the
population (Representative sample).
2.10 F - Engagement procedures are performed to determine whether a transaction,
financial statement balance or operational activity is correctly reflected as indicated in
records (Substantive testing procedures).
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, 3.1
Collection of Cash from the Cash Registers (4 Marks)
1. Dual Custody during Cash Collection:
o Cash should be collected from the registers by two authorized employees
(e.g., the till supervisor and one cashier). This ensures that no single person
has full control over the cash collection process, reducing the risk of theft or
fraud.
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