AUI2601 ASSIGNMENT 3 SOLUTIONS 2021 SEMEMSTER 1 AND 2

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: