Exam (elaborations)
AUI3703 Exam pack 2024(The Internal Audit Process: Specific Engagements and Reporting)
- Course
- Institution
AUI3703 Exam pack 2024(The Internal Audit Process: Specific Engagements and Reporting)
[Show more]
Seller
Follow
gabrielmusyoka940
Reviews received
Content preview
AUI3703 EXAM PACK2024
QUESTIONS AND
ANSWERS
FOR ASSISTANCE CONTACT
EMAIL:gabrielmusyoka940@gmail.com
, lOMoARcPSD|49301315
This paper consists of THIRTEEN (13) pages
QUESTION: MARKS
1 Multiple choice questions 24
2 Consulting and IPPF 20
3 Performance Auditing 20
4 Computer Controls 20
5 IPPF 11
6 Fraud 5
100
PLEASE NOTE
Although the primary purpose of this examination is to test your knowledge and application
the subject matter, your ability to organise and present such knowledge in acceptable writte
English will also be taken into consideration by the examiners.
[TURN OVER]
Downloaded by Gabu King' (gabuk406@gmail.com)
, lOMoARcPSD|49301315
2 AUI3703
OCTOBER/NOVEMBER 2017
QUESTION 1 24 marks
REQUIRED
For each subsection of this question, choose only one option that you consider to b
appropriate and then write down – as your answer – only the number of the subsection and
the letter that precedes the option. If you think more than one answer is correct, choose the
most correct option.
Answer on the multiple choice answer sheet provided.
Each subsection of the question counts 1½ marks.
1.1 The internal audit activity should be ...
A. risk based.
B. materiality based.
C. variance based.
D. compliance based.
1.2 Which of the following activities are not presumed to impair the objectivity of an intern
auditor?
A. Recommending standards of control for a new information system application.
B. Drafting procedures for running a new computer application to ensure tha
proper controls are installed.
C. Performing reviews of procedures for a new computer application before it is
installed.
D. All of the above.
[TURN OVER]
Downloaded by Gabu King' (gabuk406@gmail.com)
, lOMoARcPSD|49301315
3 AUI3703
OCTOBER/NOVEMBER 2017
1.3 Assuming that the internal auditing staff possesses the necessary experience a
training, which one of the following tasks is the most appropriate for an internal audit
staff member to undertake?
A. Substitute for the accounts payable supervisor while they are on sick leave.
B. Determine the profitability of alternative investment acquisitions and select the
best option.
C. As part of an evaluation team, review vendor accounting software controls and
rank according to exposures.
D. Participate in an internal audit of the accounting department shortly after
transferring from the accounting department.
1.4 An internal auditor fails to discover an employee fraud during an assurance
engagement. The non-discovery is most likely to suggest a violation of the Internation
Standards for the Professional Practice of Internal Auditing (IPPF) if it was the result
of…
A. failure to perform a detailed review of all transactions in the area.
B. determination that any possible fraud in the area would not involve a material
amount.
C. determination that the cost of extending procedures in the area would exceed
potential benefits.
D. assuming that the internal controls in the area were adequate and effective.
1.5 In evaluating the effectiveness and efficiency with which resources are employed, an
internal auditor is responsible for…
A. determiningthe extent to which adequate operating criteria have been
established.
B. verifying the existence of assets.
C. reviewing the reliability of operating information.
D. verifying the accuracy of asset valuation.
[TURN OVER]
Downloaded by Gabu King' (gabuk406@gmail.com)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller gabrielmusyoka940. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.50. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now