Public sector audit – Page 4

AAA – Nov 2013 – L3 – AII – Q18 – Public Sector Audits

Identify the body responsible for reviewing the Auditor General's report for the Federation.

Question

The report of the Auditor General for the Federation is reviewed by…………which has the power to invite any person indicted for public hearing.

Answer

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Tags: Audit Review, Auditor General, Public Sector
Level: Level 3

Topic: Public sector audit
Series: NOV 2013

AAA – Nov 2013 – L3 – AII – Q6 – Public Sector Audits

Explores the alternate terminology for balance sheets of parastatals.

Question

The balance sheet of parastatals is also referred to as a statement of………….and…………….

Answer

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Tags: Audit Standards, Balance Sheet, Financial Statements, Public Sector, Terminology
Level: Level 3

Topic: Public sector audit
Series: NOV 2013

AAA – Nov 2012 – L3 – SB – Q3 – Public Sector Audit

This question covers the terms related to public sector audit, procedures for auditing revenue, and the distinction between regulatory and financial audits.

Question

a. Explain the following terms in relation to Public Sector Audit:
i. Self-Accounting Unit (2 Marks)
ii. Sub-Accounting Unit (2 Marks)

b. As a staff in the Auditor-General’s office, outline SIX procedures for the audit of revenue collected on behalf of the government. (6 Marks)

c. i. Distinguish between Regulatory Audit and Financial Audit. (2 Marks)
ii. State SIX documents an auditor of a Public Sector Organisation may require in conducting a Compliance Audit. (3 Marks)
(Total 15 Marks)

Answer

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Tags: Compliance Audit, Financial audit, Public Sector Audit, Regulatory Audit, Revenue Collection
Level: Level 3

Topic: Public sector audit
Series: NOV 2012

AAA – Nov 2012 – L3 – AII – Q8 – Public Sector Audits

Identifies the type of monthly accounts submitted to the Accountant-General by a Self-Accounting Unit.

Question

The monthly accounts submitted to the Accountant-General of the Federation by a Self-Accounting Unit are referred to as ……………………

Answer

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Tags: Accountant General, Financial Reporting, Government Accounts, Public Sector, Self-Accounting Unit
Level: Level 3

Topic: Public sector audit
Series: NOV 2012

AAA – Nov 2012 – L3 – AII – Q3 – Public Sector Audits

Defines an audit focused on assessing the relationship between service value and resources used.

Question

Defines an audit focused on assessing the relationship between service value and resources used.

Answer

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Tags: Efficiency, Public Sector Audits, Resource Allocation, Service Evaluation, Value for Money Audit
Level: Level 3

Topic: Public sector audit
Series: NOV 2012

AAA – Nov 2012 – L3 – SA – Q5 – Public Sector Audits

Key inclusions in the final report of a Board of Inquiry for public sector investigations.

Question

Regarding investigation in the public sector, the final report of the Board of Inquiry shall include:

A. The number of memoranda received from the public
B. A statement of the exact amount of loss that has been incurred
C. Certification from the Due Process office
D. Report of the Auditor-General for the Federation
E. External Auditors’ opinion statement on the loss that occurred

Answer

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Tags: Auditor General, Board of Inquiry, Loss Reporting, Public Sector
Level: Level 3

Topic: Public sector audit
Series: NOV 2012

AAA – Nov 2011 – L3 – SAII – Q8 – Public Sector Audits

Process for appointing a State Auditor-General.

Question

The Auditor-General for a State is appointed by the Governor on the recommendation of………………..subject to the confirmation of the State House of Assembly.

Answer

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Topic: Public sector audit
Series: NOV 2011

AAA – Nov 2011 – L3 – SA – Q13 – Public Sector Audits

Identifies an item that does not impact public sector audits in Nigeria.

Question

Which ONE of the following does NOT affect public sector audit?

A. Financial regulation
B. The 1999 Constitution of the Federal Republic of Nigeria (as amended)
C. Statement of Accounting Standard
D. Treasury and circular letters
E. Finance Act

Answer

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Tags: Financial Reporting Standards, Government Accountability, Public Sector Audit, Regulations
Level: Level 3

Topic: Public sector audit
Series: NOV 2011

AAA – Nov 2011 – L3 – SA – Q3 – Public Sector Audits

Identifies the audit type within the Auditor-General’s scope of responsibilities.

Question

Which ONE of the following is a type of audit included in the scope of responsibilities of the Auditor-General for the Federation?

A. Regulatory audit
B. Computer audit
C. Operational audit
D. Programme audit
E. Management audit

Answer

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Tags: Audit Types, Auditor General, Government Accountability, Public Sector Audit
Level: Level 3

Topic: Public sector audit
Series: NOV 2011

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

Question

Briefly discuss the THREE types of audit responsibility of the Auditor-General for the Federation in line with Financial Regulation (2009 Edition). (12 Marks)

Answer

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Tags: Auditor General, Compliance Audit, Financial audit, Financial Regulations
Level: Level 2

Topic: Public sector audit

AAA – April 2022 – L3 – Q4a – Government external audit and public accountability, Public sector audit

Discuss the factors an auditor considers in determining the going concern assumption of a public sector entity.

Question

Going concern assumption is important in financial audit, without which an entity being audited is viewed as not operating into a foreseeable future. In the public sector, going concern is also assumed, though the assumption may be different from financial considerations.

Required: Discuss the factors an auditor will consider in determining the going concern assumption of a public sector entity. (10 marks)

Answer

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Tags: Audit Procedures, Going Concern, Public Accountability, Public Sector Audit
Level: Level 3

Topic: Government external audit and public accountability, Public sector audit
Series: APR 2022

Topic: Public sector audit

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AAA – Nov 2013 – L3 – AII – Q18 – Public Sector Audits

Identify the body responsible for reviewing the Auditor General's report for the Federation.

AAA – Nov 2013 – L3 – AII – Q6 – Public Sector Audits

Explores the alternate terminology for balance sheets of parastatals.

AAA – Nov 2012 – L3 – SB – Q3 – Public Sector Audit

This question covers the terms related to public sector audit, procedures for auditing revenue, and the distinction between regulatory and financial audits.

AAA – Nov 2012 – L3 – AII – Q8 – Public Sector Audits

Identifies the type of monthly accounts submitted to the Accountant-General by a Self-Accounting Unit.

AAA – Nov 2012 – L3 – AII – Q3 – Public Sector Audits

Defines an audit focused on assessing the relationship between service value and resources used.

AAA – Nov 2012 – L3 – SA – Q5 – Public Sector Audits

Key inclusions in the final report of a Board of Inquiry for public sector investigations.

AAA – Nov 2011 – L3 – SAII – Q8 – Public Sector Audits

Process for appointing a State Auditor-General.

AAA – Nov 2011 – L3 – SA – Q13 – Public Sector Audits

Identifies an item that does not impact public sector audits in Nigeria.

AAA – Nov 2011 – L3 – SA – Q3 – Public Sector Audits

Identifies the audit type within the Auditor-General’s scope of responsibilities.

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

AAA – April 2022 – L3 – Q4a – Government external audit and public accountability, Public sector audit

Discuss the factors an auditor considers in determining the going concern assumption of a public sector entity.

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AAA – Nov 2013 – L3 – AII – Q18 – Public Sector Audits

Identify the body responsible for reviewing the Auditor General's report for the Federation.

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AAA – Nov 2013 – L3 – AII – Q6 – Public Sector Audits

Explores the alternate terminology for balance sheets of parastatals.

You're reporting an error for "AAA – Nov 2013 – L3 – AII – Q6 – Public Sector Audits"

AAA – Nov 2012 – L3 – SB – Q3 – Public Sector Audit

This question covers the terms related to public sector audit, procedures for auditing revenue, and the distinction between regulatory and financial audits.

You're reporting an error for "AAA – Nov 2012 – L3 – SB – Q3 – Public Sector Audit"

AAA – Nov 2012 – L3 – AII – Q8 – Public Sector Audits

Identifies the type of monthly accounts submitted to the Accountant-General by a Self-Accounting Unit.

You're reporting an error for "AAA – Nov 2012 – L3 – AII – Q8 – Public Sector Audits"

AAA – Nov 2012 – L3 – AII – Q3 – Public Sector Audits

Defines an audit focused on assessing the relationship between service value and resources used.

You're reporting an error for "AAA – Nov 2012 – L3 – AII – Q3 – Public Sector Audits"

AAA – Nov 2012 – L3 – SA – Q5 – Public Sector Audits

Key inclusions in the final report of a Board of Inquiry for public sector investigations.

You're reporting an error for "AAA – Nov 2012 – L3 – SA – Q5 – Public Sector Audits"

AAA – Nov 2011 – L3 – SAII – Q8 – Public Sector Audits

Process for appointing a State Auditor-General.

You're reporting an error for "AAA – Nov 2011 – L3 – SAII – Q8 – Public Sector Audits"

AAA – Nov 2011 – L3 – SA – Q13 – Public Sector Audits

Identifies an item that does not impact public sector audits in Nigeria.

You're reporting an error for "AAA – Nov 2011 – L3 – SA – Q13 – Public Sector Audits"

AAA – Nov 2011 – L3 – SA – Q3 – Public Sector Audits

Identifies the audit type within the Auditor-General’s scope of responsibilities.

You're reporting an error for "AAA – Nov 2011 – L3 – SA – Q3 – Public Sector Audits"

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

You're reporting an error for "PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit"

AAA – April 2022 – L3 – Q4a – Government external audit and public accountability, Public sector audit

Discuss the factors an auditor considers in determining the going concern assumption of a public sector entity.

You're reporting an error for "AAA – April 2022 – L3 – Q4a – Government external audit and public accountability, Public sector audit"

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