Tag (SQ): Audit
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+ past questions and counting.
- 20 Marks
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.
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- 20 Marks
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.
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- 12 Marks
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.
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- Tags: Audit, Audit Challenges, Audit-related services, Auditor involvement, Small businesses
- Level: Level 3
- Topic: Audit-Related Services
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