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AUI3703 Assignment 3 Semester 2
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AUI3703 Assignment 3 Semester 2
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Complete the definition of Internal Auditing by selecting the correct answer from the list.Internal auditing is an Blank 1 , objective Blank 2
and Blank 3 activity designed to Blank 4
and improve an organisation's Blank 5 . It
helps an organisation accomplish its Blank 6 by bringing a systematic,
disciplined approach to evaluate and Blank 7 the effectiveness of Blank 8
, Blank 9 and Blank 10
.
Question 2
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You are an internal audit manager at File Force Limited. The chief audit executive (CAE) plans to
present to the audit committee the various types of internal audit engagements.
Identify the following types of audits that will be presented to the audit committee.
This type of audit is a systematic and independent
examination to determine whether quality-related
Answer 1
activities are implemented effectively and whether
they comply with the quality systems and/or quality
standards.
In this type of audit, a team of qualified inspectors
conducts a comprehensive examination of a plant or Answer 2
other facility to determine whether it is complying
with environmental laws and regulations.
This type of audit involves auditing the
accomplishment of established goals and objectives
for operations and programmes. In practical terms, it
Answer 3
refers to audits that determine whether the desired
results are being achieved, and whether management
has considered alternatives to achieve the same results
at a lower cost.
, This type of audit is carried out to determine whether
a business entity has complied with specific policies, Answer 4
plans, procedures, laws, regulations or contracts that
affect the organisation.
This type of audit involves firstly determining
management's objectives and then establishing Answer 5
whether management controls that exist lead to
effectiveness, efficiency or economy.
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True/False
Physical evidence is gathered in the course of interviews or enquiries. Generally this type of evidence
must be supported by documentation or other evidence.
Select one:
True
False
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A performance audit is scheduled for the plant in Gauteng, and you as the senior internal auditor are
responsible for the audit. Upon your arrival, you held a meeting with the plant manager, Josh Brom,
to gain an understanding of the operations.
The plant manager provided you with documentation relating to the operations of the plant.
For each of the documents provided (1 to 6), indicate whether the document refers to the efficiency,
effectiveness or economy of the plant.
1. The purchasing policy for the Gauteng plant, outlining the process to be followed when purchasing
from the supplier. Blank 1
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