-5210-3d1-363456/delivery deliverAssessment (28 Marks) TOPIC 3 You are a senior manager of the intemal audit division at Hentage Limited, a property investment and management company. The internal audit division is preparing for a periodic internal quality assurance review to ensure compliance with the International Professional Practice Framework (IPPF) for the Institute of Internal Auditors (HA) The chief audit executive (CAE), Ms Lucy Modise, tasked you to identify any concerns regarding compliance with the IPPF and the following information is at your disposal PARTA REQUIRED 1.1 Conclude and discuss with reference to the institute of Internal Auditor's (UA) specific principle and rules of conduct of the Code of Ethics whether each of the unrelated scenarios below (1.1 to 1.4 is permissible or not permissible. Please provide reasons for each of your conclusions Your answer should be structured as follows No Permissible/Not Reference to the Reasons permissible (1 mark) code of ethics (1 mark) (2 marks) 1 eg Confidentiality (1) eg Internal auditors shall be prudent in the use and protection of information acquired in the course of their duties (1) 1.1.1 The court subpoenaed Mr Moss Balle manager in the intemal audit function of Heritage Limited to testify and explain the allegations in the internal audit's preliminary investigation reports on fraud committed by the chief financial officer (CFO) on offshore investments because he was the lead auditor in the preliminary investigation. The director of legal services instructed Moss not to attend the court proceedings stating that Heritage Limited's attomeys wil testify on his behalt MOSS did not appear in court to give his testimony (4) 1.1.2 During the preliminary investigation on fraud committed on the offshore investments audit Moss Baile, the lead auditor discussed the full details of his preliminary investigation on the CFO with his uncle, who works in Wealth Bank as an investment banker to find out how banks investigate suspicions of off-shore investment fraud Moss wanted his uncle to share some tips which he could incorporate in his audit engagement procedure 1.1.3 (4) Palesa Morena, is a chartered accountant (CA) by profession and has just been appointed as a senior internal auditor in Heritage Limited internal audit division Palesa, has external audit experience and previously worked for the Auditor General responsible for financial statement audits of the municipalities Her manager Patricia Barrack assigns her to an environmental audit from planning to reporting by herself stating that as a CA she should also understand internal audit Heritage Limited has been found to be in contravention of environmental laws and regulations on majonty Series Authentiana ha to the beard e D x P 9 141