Contents
AUI2601 ASSIGNMENT 3 SOLUTIONS 2021 SEMEMSTER 1 AND 2 ......................................................... 1
1. You are a senior manager of the internal audit division at Heritage Limited, a property investment
and management company .................................................................................................................... 1
2. Heritage Limited has grown over the years and owns properties in more than ten countries. The
extensive and complex operations of Heritage Limited have increased the need for expanding the
internal audit division ............................................................................................................................. 8
AUI2601 ASSIGNMENT 3 SOLUTIONS 2021 SEMEMSTER 1 AND 2
QUESTION 1
(28 Marks)
TOPIC 3
1. You are a senior manager of the internal audit division at
Heritage Limited, a property investment and management
company. The internal audit division is preparing for a periodic internal quality assurance
review to ensure compliance with the International Professional Practice Framework (IPPF)
for the Institute of Internal Auditors ( IIA). The chief audit executive (CAE), Ms Lucy Modise,
tasked you to identify any concerns regarding compliance with the IPPF and the following
information is at your disposal:
FOR ACCADEMIC NEEDS CONTACT 065 160 9781/
, PART A
REQUIRED
1.1 Conclude and discuss, with reference to the Institute of Internal Auditor’s (IIA) specific
principle and rules of conduct of the Code of Ethics whether each of the unrelated scenarios
below (1.1 to 1.4) is permissible or not permissible. Please provide reasons for each of your
conclusions.
Your answer should be structured as follows:
No Permissible/Not Reference to the code Reasons
permissible (1 mark) of ethics (1 mark)
(2 marks)
1.1.1 Not permissible Integrity The internal auditor is legally
bound to respond to a court
Internal auditors shall
order. The requirement not to use
observe the law and
information in any manner
make disclosures
detrimental to the legitimate and
expected by the law
ethical objectives of the
and the profession.
company does NOT override the
(Rule of conduct 1.2)
legal obligation to respond to a
court order. Therefore he/she has
violated the IIA Code of Ethics
FOR ACCADEMIC NEEDS CONTACT 065 160 9781/
AUI2601 ASSIGNMENT 3 SOLUTIONS 2021 SEMEMSTER 1 AND 2 ......................................................... 1
1. You are a senior manager of the internal audit division at Heritage Limited, a property investment
and management company .................................................................................................................... 1
2. Heritage Limited has grown over the years and owns properties in more than ten countries. The
extensive and complex operations of Heritage Limited have increased the need for expanding the
internal audit division ............................................................................................................................. 8
AUI2601 ASSIGNMENT 3 SOLUTIONS 2021 SEMEMSTER 1 AND 2
QUESTION 1
(28 Marks)
TOPIC 3
1. You are a senior manager of the internal audit division at
Heritage Limited, a property investment and management
company. The internal audit division is preparing for a periodic internal quality assurance
review to ensure compliance with the International Professional Practice Framework (IPPF)
for the Institute of Internal Auditors ( IIA). The chief audit executive (CAE), Ms Lucy Modise,
tasked you to identify any concerns regarding compliance with the IPPF and the following
information is at your disposal:
FOR ACCADEMIC NEEDS CONTACT 065 160 9781/
, PART A
REQUIRED
1.1 Conclude and discuss, with reference to the Institute of Internal Auditor’s (IIA) specific
principle and rules of conduct of the Code of Ethics whether each of the unrelated scenarios
below (1.1 to 1.4) is permissible or not permissible. Please provide reasons for each of your
conclusions.
Your answer should be structured as follows:
No Permissible/Not Reference to the code Reasons
permissible (1 mark) of ethics (1 mark)
(2 marks)
1.1.1 Not permissible Integrity The internal auditor is legally
bound to respond to a court
Internal auditors shall
order. The requirement not to use
observe the law and
information in any manner
make disclosures
detrimental to the legitimate and
expected by the law
ethical objectives of the
and the profession.
company does NOT override the
(Rule of conduct 1.2)
legal obligation to respond to a
court order. Therefore he/she has
violated the IIA Code of Ethics
FOR ACCADEMIC NEEDS CONTACT 065 160 9781/
