Assessment 2 (page 1 of 11) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=259
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Question 1
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Marked out of 1.50
After two months of waiting for confirmation of amounts owing to a supplier, Sally (a candidate auditor) could not verify the amount
payable. However, she concluded on the working paper that the audit procedures were adequately performed.
Which of the following statements is/are correct in terms of the SAICA Code of Professional Conduct? Note that there could be more
than one correct statement.
a. Sally did not act with professional competence and due care as she did not act in accordance with the technical and professional
standards
b. Sally breached the principle of objectivity for failing to carry out important audit work.
c. Sally did not act with integrity because she failed to confirm whether the company’s liability was accurately recorded, and she
was dishonest in the conclusion of the working paper
d. Sally did not comply with the principle of professional behaviour as she discredited the profession
1 of 3 2025/04/08, 17
,Assessment 2 (page 1 of 11) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=259
Question 2
Not yet answered
Marked out of 1.50
Dashboard Calendar
Katlego Gisi, a qualified chartered accountant (CA(SA)) and an audit manager at AAA Auditors, received a request from Lightning (Pty)
Dashboard / My courses / AUE2601-25-S1 / Welcome Message / Assessment 2
Ltd to prepare their tax return. A contingency fee will be payable for this service. Katlego is a member of the South African Institute of
Chartered Accountants (SAICA).
Below options include the type of threat(s) to the fundamental principle(s) of professional conduct as well as the fundamental
principle(s) affected in terms of the SAICA Code of Professional Conduct.
Choose the correct option applicable to the scenario provided.
a. Type of threat(s) Fundamental principle(s) affected
Self-interest threat Objectivity
b. Type of threat(s) Fundamental principle(s) affected
Self-review threat Integrity
c. Type of threat(s) Fundamental principle(s) affected
Intimidation threat Confidentiality
d. Type of threat(s) Fundamental principle(s) affected
Self-review threat Confidentiality
Clear my choice
2 of 3 2025/04/08, 17
,Assessment 2 (page 1 of 11) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=259
Question 3
Not yet answered
Marked out of 1.50
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Mrs Lock, the auditor of Sports Galore Ltd. discovered during the audit that the human resource director, who owns shares in the
Dashboard / My courses / AUE2601-25-S1 / Welcome Message / Assessment 2
company, has been knowingly authorising the payment of salaries to ghost employees for the last six months.
Select the correct option relating to this scenario.
a.
A reportable irregularity has not taken place as the human resource director is not part of Sports Galore Ltd's management
b. A reportable irregularity has not taken place as there is no evidence of fraud.
c.
A reportable irregularity has taken place and needs to be reported to the IRBA by the auditor
d. A reportable irregularity has not taken place as the entity did not suffer any losses.
Clear my choice
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,Assessment 2 (page 2 of 11) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=259
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Question 4
Answer saved
Marked out of 1.50
Nano Consultants (Pty) Ltd is a firm of architects based in Durban. For the year under review, the firm had 28 staff members, including
four executive directors. The company earned revenue of R36 million and net profit after tax of R9 million. The directors acquired
equipment at a cost of R5 million two weeks before year end, which was financed with a 70% loan from VW Bank Ltd, and the balance
was financed from cash reserves. The loan from VW Bank is the only third-party liability of Nano Consultants (Pty) Ltd at year end. There
are ten shareholders and none of the shareholders are directors.
What is the company’s public interest score?
a. 57
b. 78
c. 56
d. 79
Clear my choice
Question 5
Answer saved
Marked out of 1.00
Select the correct options relating to a reportable irregularity in terms of the Auditing Profession Act.
Note that there could be more than one correct option, select all correct options.
a. A reportable irregularity always includes an element of fraud.
b. An individual registered auditor of an entity that is satisfied or has reason to believe that a reportable irregularity has taken place
or is taking place in respect of that entity must, without delay, send a written report to the Regulatory Board.
c. If an individual registered auditor has reported an irregularity to the Regulatory Board, the individual registered auditor may not
be removed until the matter has been concluded and reported on that either a reportable irregularity was not taking place or a
reportable irregularity is no longer taking place or the reportable irregularity is continuing.
d. A reportable irregularity always involve an unlawful act or admission
1 of 2 2025/04/08, 17
Dashboard Calendar
Dashboard / My courses / AUE2601-25-S1 / Welcome Message / Assessment 2
Time left 1:22:59
Question 1
Not yet answered
Marked out of 1.50
After two months of waiting for confirmation of amounts owing to a supplier, Sally (a candidate auditor) could not verify the amount
payable. However, she concluded on the working paper that the audit procedures were adequately performed.
Which of the following statements is/are correct in terms of the SAICA Code of Professional Conduct? Note that there could be more
than one correct statement.
a. Sally did not act with professional competence and due care as she did not act in accordance with the technical and professional
standards
b. Sally breached the principle of objectivity for failing to carry out important audit work.
c. Sally did not act with integrity because she failed to confirm whether the company’s liability was accurately recorded, and she
was dishonest in the conclusion of the working paper
d. Sally did not comply with the principle of professional behaviour as she discredited the profession
1 of 3 2025/04/08, 17
,Assessment 2 (page 1 of 11) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=259
Question 2
Not yet answered
Marked out of 1.50
Dashboard Calendar
Katlego Gisi, a qualified chartered accountant (CA(SA)) and an audit manager at AAA Auditors, received a request from Lightning (Pty)
Dashboard / My courses / AUE2601-25-S1 / Welcome Message / Assessment 2
Ltd to prepare their tax return. A contingency fee will be payable for this service. Katlego is a member of the South African Institute of
Chartered Accountants (SAICA).
Below options include the type of threat(s) to the fundamental principle(s) of professional conduct as well as the fundamental
principle(s) affected in terms of the SAICA Code of Professional Conduct.
Choose the correct option applicable to the scenario provided.
a. Type of threat(s) Fundamental principle(s) affected
Self-interest threat Objectivity
b. Type of threat(s) Fundamental principle(s) affected
Self-review threat Integrity
c. Type of threat(s) Fundamental principle(s) affected
Intimidation threat Confidentiality
d. Type of threat(s) Fundamental principle(s) affected
Self-review threat Confidentiality
Clear my choice
2 of 3 2025/04/08, 17
,Assessment 2 (page 1 of 11) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=259
Question 3
Not yet answered
Marked out of 1.50
Dashboard Calendar
Mrs Lock, the auditor of Sports Galore Ltd. discovered during the audit that the human resource director, who owns shares in the
Dashboard / My courses / AUE2601-25-S1 / Welcome Message / Assessment 2
company, has been knowingly authorising the payment of salaries to ghost employees for the last six months.
Select the correct option relating to this scenario.
a.
A reportable irregularity has not taken place as the human resource director is not part of Sports Galore Ltd's management
b. A reportable irregularity has not taken place as there is no evidence of fraud.
c.
A reportable irregularity has taken place and needs to be reported to the IRBA by the auditor
d. A reportable irregularity has not taken place as the entity did not suffer any losses.
Clear my choice
Jump to...
3 of 3 2025/04/08, 17
,Assessment 2 (page 2 of 11) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=259
Dashboard Calendar
Dashboard / My courses / AUE2601-25-S1 / Welcome Message / Assessment 2
Time left 1:16:45
Question 4
Answer saved
Marked out of 1.50
Nano Consultants (Pty) Ltd is a firm of architects based in Durban. For the year under review, the firm had 28 staff members, including
four executive directors. The company earned revenue of R36 million and net profit after tax of R9 million. The directors acquired
equipment at a cost of R5 million two weeks before year end, which was financed with a 70% loan from VW Bank Ltd, and the balance
was financed from cash reserves. The loan from VW Bank is the only third-party liability of Nano Consultants (Pty) Ltd at year end. There
are ten shareholders and none of the shareholders are directors.
What is the company’s public interest score?
a. 57
b. 78
c. 56
d. 79
Clear my choice
Question 5
Answer saved
Marked out of 1.00
Select the correct options relating to a reportable irregularity in terms of the Auditing Profession Act.
Note that there could be more than one correct option, select all correct options.
a. A reportable irregularity always includes an element of fraud.
b. An individual registered auditor of an entity that is satisfied or has reason to believe that a reportable irregularity has taken place
or is taking place in respect of that entity must, without delay, send a written report to the Regulatory Board.
c. If an individual registered auditor has reported an irregularity to the Regulatory Board, the individual registered auditor may not
be removed until the matter has been concluded and reported on that either a reportable irregularity was not taking place or a
reportable irregularity is no longer taking place or the reportable irregularity is continuing.
d. A reportable irregularity always involve an unlawful act or admission
1 of 2 2025/04/08, 17