Exam (elaborations)
AUE2602 Assignment 1 Semester 2 2024
- Institution
- University Of South Africa (Unisa)
AUE2602 Assignment 1 Semester 2 2024 Whastapp
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8/14/24, 10:46 AM Assessment 1: Attempt review Dashboard Calendar
Dashboard / My courses / AUE2602-24-S2 / AUE2602 Assessment 1 / Assessment 1
Started on Wednesday, 14 August 2024, 10:24 AM
State Finished
Completed on Wednesday, 14 August 2024, 10:48 AM
Time taken 23 mins 53 secs
Marks 30/30
Grade 100 out of 100
Question 1 0
Complete 0
Mark 2 out of 2 0
Which ONE of the following alternatives will not lead to the financial director being held liable for contravention of the standards of
director’s conduct in terms of the Companies Act 71 of 2008?
Select one:
a. failing to act in good faith and for a proper purpose
b. failing to inform the board of all the environmental law changes
c. failing to act in the best interest of the company
d. failing to disclose to the board a personal financial interest
Question 2
Complete
Mark 2 out of 2
Which ONE of the following control activities is an example of isolation of responsibility?
Select one:
a. An independent employee should regularly reconcile the debtors ledger with the debtors control account in the general ledger.
b. The company’s production foreman should sign the schedule of overtime before he or she hands it to the wages clerk for it to
be calculated and paid.
c. The order clerk in the sales department of a company should issue the internal sales order (ISO), the warehouse clerk should
perform the picking of the goods on the order in the warehouse and the dispatch clerk should dispatch the goods for delivery
to the customer.
d. Access to the inventory warehouse should be controlled by means of a turnstile gate and a security guard checking goods
leaving the warehouse.
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=218601&cmid=71041 1/7
,8/14/24, 10:46 AM Assessment 1: Attempt review
Question 3
Complete
Mark 2 out of 2
Dashboard Calendar
Which ONE of the following events is most likely to result in the segregation of duties becoming ineffective?
Dashboard / My courses / AUE2602-24-S2 / AUE2602 Assessment 1 / Assessment 1
Select one:
a. carelessness on the part of an employee
b. collusion
c. the tendency to direct internal controls - at routine transactions rather than non-routine transactions
d. cost constraints
Question 4
Complete
Mark 2 out of 2
Select the option that best answers the following question:
Which of the following parties are responsible for the internal control process of an entity?
Select one:
a. the board of directors
b. the management, the board of directors and the employees
c. the employees of the entity and the management
d. the management and the board of directors
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=218601&cmid=71041 2/7
,8/14/24, 10:46 AM Assessment 1: Attempt review
Question 5
Complete
Mark 2 out of 2
Dashboard Calendar
Principle 3 of King IV states that “the board should ensure that the company is and is seen to be, a responsible corporate citizen.
Dashboard / My courses / AUE2602-24-S2 / AUE2602 Assessment 1 / Assessment 1
List A below provides examples of factors which a company should consider in relation to being a responsible corporate citizen.
List B provides examples of how a good corporate citizen might act.
List A – Factors to be considered:
1). human rights.
2). employee well being and development.
3). holding business associates/contractors to account on their own “responsible corporate citizen” practices.
4) the impact on communities in which the company conducts its activities.
List B – how a good corporate citizen might act:
i) assist in providing basic human needs such as housing and fresh water.
ii) provide literary classes and study bursaries for employees.
iii) implement a policy of developing emerging small businesses as permanent suppliers.
iv) provide solar panels and wifi connectivity to local schools.
Which one of the following alternatives correctly matches the factors described in List A (a to d) with the examples thereof in List B (i
to iv)?
Select one:
a. LIST A LIST B
1 i
2 iii
3 iv
4 ii
b. LIST A LIST B
1 i
2 ii
3 iii
4 iv
c. LIST A LIST B
1 iv
2 iii
3 ii
4 i
d. LIST A LIST B
1 ii
2 iv
3 iii
4 i
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=218601&cmid=71041 3/7
, 8/14/24, 10:46 AM Assessment 1: Attempt review
Question 6
Complete
Mark 2 out of 2
Dashboard Calendar
Select the correct alternative relating to the disclosures required regarding the duties of the audit committee in terms of the King IV
Dashboard
Report. In/addition
My courses
to the/ required
AUE2602-24-S2
statutory /disclosure
AUE2602recommended
Assessment 1 for
/ all
Assessment 1
the committees of the governing body, the following
should be disclosed in relation to the audit committee:
1) a statement as to whether the audit committee is satisfied that the external auditor is independent of the organisation
2) the audit committee’s views on resolving disputes relating to the company’s operations
3) the audit committee’s views on the quality of the external audit
4) the audit committee’s views on the effectiveness of the chief audit executive and the arrangements for internal audit
5) the audit committee’s views on the process for determining the accounting principles to be applied in the annual financial
statements
6) the arrangements in place for combined assurance and the audit committee’s views on its effectiveness
Select one:
a. 1, 3, 4 and 6
b. 2, 3, 4, 5 and 6
c. 1, 4 and 6
d. 1, 3, 4, 5 and 6
Question 7
Complete
Mark 2 out of 2
Select the correct alternative to complete the following sentence: The chairperson of the governing body of a public company should
also … .
Select one:
a. be a member of the nomination committee
b. be the CEO of the company
c. be a member of the audit committee
d. be the chairperson of the remuneration committee
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=218601&cmid=71041 4/7
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