Audit – Knowsia

PSAF – L2 – Q5.3 – Public Expenditure and Financial Accountability

Discuss how professional skepticism and judgement assist in evaluating a hospital's operations for resource misuse and poor procurement.

Question

You have been appointed as an independent assessor to evaluate the operations of a major regional hospital, which has recently been in the news for significant misuse of resources and poor procurement practices.

Required:
Discuss how professional skepticism and judgement assist in the assignment in the hospital.

Answer

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Tags: Audit, Ethics, Financial management, Procurement, Professional Judgement, Professional Scepticism, Public Sector Accounting
Level: Level 2

Topic: Public expenditure and financial accountability framework

FM – L2 – Q3.3 – Public expenditure and financial accountability framework

Name and explain objects of enactments for external and internal audit in public sector.

Question

Audit is a very important vehicle for accountability in the public sector. Therefore, appropriate enactment is made to govern and regulate external audit and internal audit in the public sector of the Republic of Takoradi.

Required:

(a) Name and explain the objects of the two enactments that govern and regulate external audit and internal audit in the public sector respectively.

(b) Discuss four responsibilities each of the following institutions under the respective enactments:

(I) Audit Service.

(ii) Internal Audit Agency.

Answer

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Tags: Audit, External Audit, Internal Audit, Legislation, Takoradi
Level: Level 2

Topic: Public expenditure and financial accountability framework

AAA – L3 – Q69 – Audit-related services

Discuss the view that small businesses are unauditable due to their nature versus the benefits of auditor involvement.

Question

There is a view held by some, that small businesses are unauditable by their very nature. However, others would say that because the auditor of a small business is much more closely involved with his client, his knowledge of that client is extensive and he is therefore better placed to audit it, whereas larger audits are much more mechanical.

Required

Discuss.

Answer

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Tags: Audit, Audit Challenges, Audit-related services, Auditor involvement, Small businesses
Level: Level 3

Topic: Audit-Related Services

Tag (SQ): Audit

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PSAF – L2 – Q5.3 – Public Expenditure and Financial Accountability

Discuss how professional skepticism and judgement assist in evaluating a hospital's operations for resource misuse and poor procurement.

FM – L2 – Q3.3 – Public expenditure and financial accountability framework

Name and explain objects of enactments for external and internal audit in public sector.

AAA – L3 – Q69 – Audit-related services

Discuss the view that small businesses are unauditable due to their nature versus the benefits of auditor involvement.

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PSAF – L2 – Q5.3 – Public Expenditure and Financial Accountability

Discuss how professional skepticism and judgement assist in evaluating a hospital's operations for resource misuse and poor procurement.

You're reporting an error for "PSAF – L2 – Q5.3 – Public Expenditure and Financial Accountability"

FM – L2 – Q3.3 – Public expenditure and financial accountability framework

Name and explain objects of enactments for external and internal audit in public sector.

You're reporting an error for "FM – L2 – Q3.3 – Public expenditure and financial accountability framework"

AAA – L3 – Q69 – Audit-related services

Discuss the view that small businesses are unauditable due to their nature versus the benefits of auditor involvement.

You're reporting an error for "AAA – L3 – Q69 – Audit-related services"

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