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2.Q Topic 1
practice topic 1 meh
Course
Auditing (AUD339)
402 Documents
Students shared 402 documents in this course
University
Universiti Teknologi MARA
Academic year: 2023/2024
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EXERCISE TOPIC 1 – INTRODUCTION OF AUDITING
1. State the reasons why a company needs to have both the internal and the
external auditors.
(2 marks)
2. Description of audit performed Type of audit Type of auditor
Providing reports on the credibility of
financial statements of DMZ Bank
Berhad to investors and creditors.
Evaluating the policies and
procedures of the Immigration
Department in bringing employees
from Indonesia
Examining the tax deductions and
EPF contributions for the staffs in
Indah Murni Berhad
(6 marks)
3. The audit of financial statements is performed by an external independent auditor.
There are also other types of auditors: internal auditor, government auditor and
forensic auditor. State the type of audit and explain the nature of the audit work
performed by;
a. an internal auditor
b. a government auditor
(4 marks)
4. Explain how an external auditor contributes to overcoming possible problems
associated with agency relationship.
(3 marks)
5. Do you agree that the roles of external auditors are not significant because their
scope of functions can be covered by the internal auditors?
(4 marks)
Was this document helpful?
2.Q Topic 1
Course: Auditing (AUD339)
402 Documents
Students shared 402 documents in this course
University: Universiti Teknologi MARA
Was this document helpful?
EXERCISE TOPIC 1 – INTRODUCTION OF AUDITING
1. State the reasons why a company needs to have both the internal and the
external auditors.
(2 marks)
2.
Description of audit performed
Type of audit
Type of auditor
Providing reports on the credibility of
financial statements of DMZ Bank
Berhad to investors and creditors.
Evaluating the policies and
procedures of the Immigration
Department in bringing employees
from Indonesia
Examining the tax deductions and
EPF contributions for the staffs in
Indah Murni Berhad
(6 marks)
3. The audit of financial statements is performed by an external independent auditor.
There are also other types of auditors: internal auditor, government auditor and
forensic auditor. State the type of audit and explain the nature of the audit work
performed by;
a. an internal auditor
b. a government auditor
(4 marks)
4. Explain how an external auditor contributes to overcoming possible problems
associated with agency relationship.
(3 marks)
5. Do you agree that the roles of external auditors are not significant because their
scope of functions can be covered by the internal auditors?
(4 marks)
