Exam (elaborations)
AUE2602 EXAM PACK 2020.pdf
- Course
- Institution
Exam of 142 pages for the course AUE2602 EXAM PACK 2020 at Unisa (AUE2602 EXAM PACK)
[Show more]
Seller
Follow
UNISA1
Content preview
AUE2602 EXAM PACK 2020i i i
Downloaded by: prelisha | prelisha01@gmail.com
Distribution of this document is illegal
, Stuvia.com - The study-notes marketplace
AUE2602
EXAM PACK i
Downloaded by: prelisha | prelisha01@gmail.com
Distribution of this document is illegal
, Stuvia.com - The study-notes marketplace
THIS iPAPER iCONSISTS iOF iSEVEN i(7) iPAGES.
This ipaper iconsists iof ithe ifollowing iquestions iand imain itopics:
QUESTION MAIN iTOPIC MARKS
1 Corporate i governance, i internal i controls i and i the i acquisitions i and 50
payments icycle
2 Internal i controls, i revenue i and i receipts i cycle, i acquisition i and 50
payments i cycle, i inventory i and i production i cycle, i payroll i and
personnel icycle iand ifinance iand iinvestment icycle i
i 100 ii
NOTE:
Although ithe iprimary ipurpose iof ithe iexamination iis ito itest iyour iknowledge iand iapplication iof ithe isubject
i matter, iyour iability ito iorganise iand ipresent isuch iknowledge i in iwritten i language iof ian iacceptable istandard
iwill ibe itaken i into iconsideration iby ithe iexaminers.
Downloaded by: prelisha | prelisha01@gmail.com
Distribution of this document is illegal
, Stuvia.com - The study-notes marketplace
- i2 i- AUE2602
October/November i2018
QUESTION i1 50 iMARKS
Modern iClosets iLimited iis ia ilarge imanufacturing icompany isituated iin iJohannesburg, iSouth iAfrica. iThey ispecialise
iin ithe i design iand iconstruction i of iclosets iand icabinets ifor iprivate i or icommercial iuse. iThe icompany i was istarted i in
i1987 iby iMr iJay iand i is icurrently iconsidering i whether iit i should i list ion ithe iJohannesburg iStock iExchange i(JSE).
The iboard iof idirectors
Mr iJay Chairperson iof ithe iboard. iMr iJay iwas ithe iChief iExecutive iOfficer iof iModern iClosets ifor i20iyears, ibut
iretired ilast iyear.
Ms iClaire Chief iExecutive iOfficer i(CEO) iand iCA(SA). iMs iClaire iis ithe idaughter iof iMr iJay.
Mr iMitch Chief iOperating iOfficer i(COO) iand iqualified ilawyer. iMr iMitch iis ithe ison iof iMr iJay.
Mrs iGloria Non-executive idirector iand imarried ito iMr iJay.
Mr iCam Non-executive idirector iwho icurrently ihas i1% ishareholding iin iModern iClosets.
Mr iPhil Non-executive i director i with i no i relationship i with i the i other i directors i or i officers i of i Modern
iClosets.
Ms iLilly Non-executive i director i and i partner i in i the i legal i firm i that i assists i Modern i Closets i in i their
ibusiness.
Mr iJay iwas inever itoo iconcerned iabout ithe icorporate igovernance iof ithe icompany ias ihe ihad ia ivery ihands- ion iapproach
ito irunning ithe ibusiness. iHowever, iMs iClaire iwants ito iensure ithat iModern iClosets iis ifollowingithe irecommendations i of
ithe iKing iIV iReport i with iregard ito i ethical i leadership.
Ms iClaire ialso iknows ithat iher ifather ihas inever iappointed iboard icommittees iand iis iconcerned ithat ithey icanino ilonger ijust
iexplain i why. iShe i wants ito iappoint ithe irequired iboard icommittees ias isoon ias ipossible.
Internal icontrols
Mr iJay iis inot ia ifan iof ithe icomputerised isystems ithat ihave ibeen iimplemented iat iModern iClosets iover ithe ipast ifew
iyears. iAs isuch, i he i has inever iused isome i of ithe ibuilt-in ifunctionalities. iNow ithat iMs iClaire i is ithe iCEO, ishe i knows ithat
ithe isoftware i has idifferent ifunctions iand ican igenerate i different ireports, iwhich ican ibeiused ito iher iadvantage. iHowever,
ishe i is iunsure iwhat ithey irelate ito iand iwhat i would ibe iuseful ito iher.
She iknows ithat ithe iinternal iaudit iteam ialways iwants ito ilink ithe icontrols ito ithe icontrol iobjectives ibeing ioccurrence
iand iauthorisation, iaccuracy iand icompleteness.
She iis ispecifically iinterested iin ithe ifollowing icontrol iand ireport ifunctionalities iof ithe isoftware:
a. Audit itrails
b. Mandatory ifields
c. Override ireports
d. Validation ichecks
e. Activity ireports
f. Sequence ichecks
g. Valid icharacter iand isign ichecks
Acquisitions iand ipayments
Owing ito ithe iway iMr iJay iran ithe ibusiness, iModern iClosets ihas ialways imade ipayments iby iway iof iphysicalicheques. iMr
iMitch iis iin ithe iprocess iof iimplementing ia icomputerised isystem ithat iwould imake iEFT ipayments
[TURN iOVER]
Downloaded by: prelisha | prelisha01@gmail.com
Distribution of this document is illegal
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 UNISA1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.84. 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