Question 1
Complete
Mark 10.00 out of 10.00
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Question text
For each of the activities listed, indicate whether it will form part of an assurance- or
consulting engagement.
1. Determining whether procedures relating to reporting are being compiled with. Assurance
engagement.
2. Determining whether all applicable statutory requirements are being complied
with. Assurance engagement
3. Conducting special engagements requested by management where internal audit can add
value through their knowledge and skills, yet still remain independent and act in an advisory
capacity based on the results of such engagements. .Consulting engagement.
4. Reviewing the reliability of records. Assurance engagement.
5. Communicating in an authoritative manner with management by means of reporting to
improve and add value. Consulting engagement.
6. Independence from the normal policy-making function by only identifying and
recommending areas of improvement or change. .Consulting engagement.
7. Assisting directly with the discovery of fraud and error. Assurance engagement.
8. Reinforcement of all systems and controls by evaluating their adequacy and
application. Assurance engagement
9. Providing training and facilitating workshops on behalf of management. .Consulting
engagement.
, 10. Identifying and recommending areas of improvement or change in an advisory
capacity. .Consulting engagement.
Question 2
• Definition of Internal Auditing
Internal auditing is an independent, objective assurance and
consulting activity designed to add value and improve an
organisation’s operations. It helps an organisation accomplish
its objectives by bringing a systematic, disciplined approach to
evaluate and improve the effectiveness of risk management,
control and governance processes.
Question 3
Management is responsible for the progress, maintenance and functioning of the
organisation, through adequate planning, organising, directing and control.
For each of the basic management concepts listed below, identify whether the concept
relates to organising, planning, directing or controlling.
1. Set and determine the mission of the organisation, that is, the basic function or task
of an organisation Planning
2. Delegation includes assigning responsibility, granting authority and exacting
accountability Organising
3. The motivation of staff so that they adhere to managerial policy.Directing
4. Introduce and maintain an efficient system of internal accounting controls. Control
5. Decision making, which is problem solving and is therefore future-oriented. Planning
6. Achieving compliance with planned procedures Control
7. Brings together people and processes in logical groupings to carry out plans and
meet objectives Organising
8. Communication of organisational or managerial policy to subordinates, especially
heads of departments. Directing
9. Personnel planning, recruiting, selecting and developing people to operate the
organisation competently. Organising
Complete
Mark 10.00 out of 10.00
Flag question
Question text
For each of the activities listed, indicate whether it will form part of an assurance- or
consulting engagement.
1. Determining whether procedures relating to reporting are being compiled with. Assurance
engagement.
2. Determining whether all applicable statutory requirements are being complied
with. Assurance engagement
3. Conducting special engagements requested by management where internal audit can add
value through their knowledge and skills, yet still remain independent and act in an advisory
capacity based on the results of such engagements. .Consulting engagement.
4. Reviewing the reliability of records. Assurance engagement.
5. Communicating in an authoritative manner with management by means of reporting to
improve and add value. Consulting engagement.
6. Independence from the normal policy-making function by only identifying and
recommending areas of improvement or change. .Consulting engagement.
7. Assisting directly with the discovery of fraud and error. Assurance engagement.
8. Reinforcement of all systems and controls by evaluating their adequacy and
application. Assurance engagement
9. Providing training and facilitating workshops on behalf of management. .Consulting
engagement.
, 10. Identifying and recommending areas of improvement or change in an advisory
capacity. .Consulting engagement.
Question 2
• Definition of Internal Auditing
Internal auditing is an independent, objective assurance and
consulting activity designed to add value and improve an
organisation’s operations. It helps an organisation accomplish
its objectives by bringing a systematic, disciplined approach to
evaluate and improve the effectiveness of risk management,
control and governance processes.
Question 3
Management is responsible for the progress, maintenance and functioning of the
organisation, through adequate planning, organising, directing and control.
For each of the basic management concepts listed below, identify whether the concept
relates to organising, planning, directing or controlling.
1. Set and determine the mission of the organisation, that is, the basic function or task
of an organisation Planning
2. Delegation includes assigning responsibility, granting authority and exacting
accountability Organising
3. The motivation of staff so that they adhere to managerial policy.Directing
4. Introduce and maintain an efficient system of internal accounting controls. Control
5. Decision making, which is problem solving and is therefore future-oriented. Planning
6. Achieving compliance with planned procedures Control
7. Brings together people and processes in logical groupings to carry out plans and
meet objectives Organising
8. Communication of organisational or managerial policy to subordinates, especially
heads of departments. Directing
9. Personnel planning, recruiting, selecting and developing people to operate the
organisation competently. Organising
