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AUI3702 Assignment 1 2023 semester 1
- Institution
- University Of South Africa (Unisa)
AUI3702 Assignment 1 2023 semester 1
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Started on Monday, 27 March 2023, 12:44 PMState Finished
Completed on Monday, 27 March 2023, 2:45 PM
Time taken 2 hours 1 min
Grade 27.00 out of 30.00 (90%)
Question 1
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Mark 1.50 out of 1.50
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Question text
The internal auditor fails to discover employee fraud during the performance of an
assurance engagement. This non-discovery is most likely to suggest a violation of the
Standards if it was the result of which one of the following?
a.
The determination that the cost of extending the audit procedures would exceed the
benefit derived from such procedures.
b.
Failure to perform a detailed review of all the transactions in the area.
c.
The assumption that the internal controls in that area were operating in an adequate and
effective manner.
d.
Failure to perform a detailed review of all the transactions under the control of that
employee.
Question 2
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Question text
An element of authority that should be included in the charter of an internal audit
activity is ...
, a.
identification of the different types of disclosures that must be made to the audit
committee.
b.
identification of the organisational units where internal audit engagements must be
performed as well as the frequency of such engagements.
c.
access to records, personnel, and physical properties relevant to the performance of the
internal audit activity=s engagements.
d.
access to the external auditor's working papers and appointment agreement.
Question 3
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Question text
What describes the general functions of the Standards for the internal auditing
profession?
a.
The Standards are intended to represent the practice of internal auditing as it should be.
b.
The Standards are intended to represent the practising internal auditor in a
manufacturing environment.
c.
The Standards are intended for practicing internal and external auditors only.
d.
The Standards are intended to serve the interest of management by helping them
achieve their objectives.
Question 4
Complete
Mark 1.50 out of 1.50
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