Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=208
AUI2601-24-S2 Welcome Message Assessment 1
QUIZ
Started on Monday, 12 August 2024, 1:25 PM
State Finished
Completed on Monday, 12 August 2024, 1:59 PM
Time taken 33 mins 25 secs
Grade 57.50 out of 60.00 (95.83%)
Question 1
Complete
Mark 10.00 out of 10.00
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.
1 of 8 2024/08/12, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=208
Question 2
Complete
Mark 5.00 out of 5.00
Complete the De�nition of Internal Auditing by selecting the correct answer from the list.
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
Complete
Mark 9.00 out of 10.00
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 e�cient 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.
10. Authoritative direction and control of the organisation, of which risk management is an important aspect. Directing.
2 of 8 2024/08/12, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=208
Question 4
Complete
Mark 12.00 out of 12.00
The table below is a summary of the key differences between intenal and external auditing.
Complete the table by selecting the correct answer.
Factor Internal Audit External Audit
Audit Covers all the organisation’s operations. Works primarily with �nancial systems.
coverage
Audit time Performs audits throughout the year Mostly a year-end process
frame
Methodology Risk-based audits Vouching and veri�cation
Legislation Legally required in the public sector Legally required for all registered companies
Certi�cation Certi�ed Internal Auditor (CIA) Chartered Accountant (CA)
Membership Institute of Internal Auditors (IIA) South African Institute of Chartered Accountants (SAICA)
a�liation
Question 5
Complete
Mark 4.00 out of 4.00
The following is a glossary of internal auditing terms. Match the de�nition provided with the corresponding term.
The policies, procedures and activities that are part of a control framework, designed and operated to
Control process
ensure that risks are contained within the level that an organisation is willing to accept.
An objective examination of evidence for the purpose of providing an independent assessment on
Assurance services.
governance, risk management, and control processes for the organisation.
The combination of processes and structures implemented by the board to inform, direct, manage
Governance
and monitor the activities of the organisation towards the achievement of its objectives.
The internal audit activity identi�es and evaluates the organisaton's exposure to risk, assessing risk
Risk management
during the course of engagement and improving the risk management process.
3 of 8 2024/08/12, 14
AUI2601-24-S2 Welcome Message Assessment 1
QUIZ
Started on Monday, 12 August 2024, 1:25 PM
State Finished
Completed on Monday, 12 August 2024, 1:59 PM
Time taken 33 mins 25 secs
Grade 57.50 out of 60.00 (95.83%)
Question 1
Complete
Mark 10.00 out of 10.00
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.
1 of 8 2024/08/12, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=208
Question 2
Complete
Mark 5.00 out of 5.00
Complete the De�nition of Internal Auditing by selecting the correct answer from the list.
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
Complete
Mark 9.00 out of 10.00
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 e�cient 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.
10. Authoritative direction and control of the organisation, of which risk management is an important aspect. Directing.
2 of 8 2024/08/12, 14
,Assessment 1: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=208
Question 4
Complete
Mark 12.00 out of 12.00
The table below is a summary of the key differences between intenal and external auditing.
Complete the table by selecting the correct answer.
Factor Internal Audit External Audit
Audit Covers all the organisation’s operations. Works primarily with �nancial systems.
coverage
Audit time Performs audits throughout the year Mostly a year-end process
frame
Methodology Risk-based audits Vouching and veri�cation
Legislation Legally required in the public sector Legally required for all registered companies
Certi�cation Certi�ed Internal Auditor (CIA) Chartered Accountant (CA)
Membership Institute of Internal Auditors (IIA) South African Institute of Chartered Accountants (SAICA)
a�liation
Question 5
Complete
Mark 4.00 out of 4.00
The following is a glossary of internal auditing terms. Match the de�nition provided with the corresponding term.
The policies, procedures and activities that are part of a control framework, designed and operated to
Control process
ensure that risks are contained within the level that an organisation is willing to accept.
An objective examination of evidence for the purpose of providing an independent assessment on
Assurance services.
governance, risk management, and control processes for the organisation.
The combination of processes and structures implemented by the board to inform, direct, manage
Governance
and monitor the activities of the organisation towards the achievement of its objectives.
The internal audit activity identi�es and evaluates the organisaton's exposure to risk, assessing risk
Risk management
during the course of engagement and improving the risk management process.
3 of 8 2024/08/12, 14
