1.1 Discuss the purpose of internal auditing under the following headings: 1.1.1 The agency theory (10) 1.1.2 Corporate govemance (4) 1.2 The purpose of internal auditing is to improve the performance of the organisation. Discuss this issue. (6) [20] Question 2 2.1 Describe what you understand under the services provided by internal auditing. (10) 2.2 Distinguish between internal and extemal auditing. (10) [20] Question 3 3.1 Discuss the difference between risks and threats. (6) 3.2 Briefly discuss the different control strategies. (10) 3.3 Define control. (4) Question 4 4.1 Describe the steps in the intemal auditing process. (8) 42 Briefly discuss the main outputs of the Impact Assessment phase. (8) Question 5 5.1 What is the control strategy assessment? 5.2 Discuss the role of the internal auditor in the control adequacy assessment. (2) 5.3 Describe its main inputs of the control effectiveness assessment. 5.4 Discuss the role of the internal auditor in the quality of performance assessment. (2) [20]