Exam (elaborations)
AUI3703 EXAM PACK 2024/2025
- Institution
- University Of South Africa (Unisa)
AUI3703 EXAM PACK 2024/2025 QUESTIONS WITH COMPLETE ANSWERS, COMPILED FROM RECENT PAST EXAM PAPERS. PERFECT FOR EXAM PREPARATION.
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lOMoAR cPSD| 48047628,UNIVERSITY EXAMINATIONS
Oct/Nov 2023
AUI3703
The Internal Audit Process: Specific Audit Assignments and Reporting
100 Marks
Duration: 2 Hours Examiners:
First: Ms JP Doster
Second: Ms BM van Wyk
External: Ms K Mnguni
This paper consists of 12 pages.
Instructions:
• The Invigilator app o Please remember to keep your cellphone fully charged
for the duration of the assessment.
o Please log into The Invigilator app if you have not done so yet. You need to be
connected to the internet to log in.
o Scan the QR code below once the examination starts. If you encounter difficulty with
scanning the QR code, you can also enter the QR access code as indicated at the
bottom of the QR code to start the online invigilation.
o Once the QR code is scanned, avoid any disturbances by putting your phone on
airplane mode. No internet connection is needed during the assessment.
o Always keep The Invigilator app open on your cellphone during the assessment.
o You may place your cellphone next to you. Your cellphone does not need to face you;
however, it should be close enough for you to hear the notifications from The
Invigilator app.
o The Invigilator app will notify you when an action is required.
o To receive notifications, do not put your cellphone on silent mode and ensure media
volume is turned up.
o When an action is required, a notification beep will be heard, and an instruction will
be visible.
o Please take note that once the examination time is over, you must focus on scanning
and uploading your script to your assessment platforms. Uploading your script is time
sensitive.
o Once your script is uploaded on your assessment platform, you may switch on your
data to start the uploading process on The Invigilator app.
• The examination o This is a closed-book examination. o Save a
copy of the examination paper before you start answering the questions.
o Consider the Honesty Declaration throughout while answering this paper.
o Upload your answer scripts in a single PDF file (answer scripts must not be
password-
,Question Main Topic Marks
1 True or False – All Topics 15
2 The internal audit activity and performance auditing 28
3 ISS and IT auditing 20
4 Fraud auditing 20
5 Contract auditing 7
6 Internal audit reporting 10
100
Please note:
Although the primary purpose of the examination is to test the candidate’s knowledge and
application of the subject matter, the candidate’s ability to organise and present such knowledge
in the written language of an acceptable standard will be considered by the examiners.
, QUESTION 1 15 marks
Gas Ltd is a company that is responsible for refuelling empty gas bottles. Gas Ltd has operations
in various parts of the country. The company conducts its business with a variety of customers
from individual households and small retailers to big manufacturing companies.
Gas Ltd recently established an internal audit activity. As the senior internal auditor, you tasked
one of the junior internal auditors to do a presentation to the senior management outlining the role,
purpose and authority of the internal audit activity in the company.
The junior internal auditor presented the following statements, which he would like to include in
his presentation, to you:
1. Risk management, control and governance processes may be regarded as effective if
such processes are planned and designed in a manner that provides reasonable
assurance that all irregularities will be eliminated.
2. Internal auditors may provide consulting services that add value and improve an
organisation’s operations. The performance of these services should be consistent with
the internal audit activity’s empowerment reflected in the internal audit charter.
3. The internal audit activity customarily has a dual relationship with management and the
audit committee. This means that the accuracy of engagement communication should be
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