Question 1.

As a senior auditor, kindly, Explain three (3) ways in which you will be ready to accept an alternative method of recording and accepting receipt from a company?

Question 2.

List 5 ways in which the Big 4' auditing firms can maintain high Ethical and Professionalism in their duties ?

Question 3.

Kindly share your experience during the audit project work with your colleagues ?

Question 7.

Salama is working as an External auditor at the Zayed University campus. Kindly, list 3 (three) things Salama should know in selecting the right controls to perform any audit test ( 6 marks). ?

Question 10.

Which of the following is not a requirement for identifies any deficiency in the firms control. The auditor should.. ?

Determine what is the level of severity of that deficiency

Determine if the company has good internal auditor

Modify the control risk assessment of the firm

Change the firms substantive procedure

Question 16.

As a Management Consultant, how could you access any risk of fraud in a company, especially regarding the purchase and acquisition of goods from a company? Please list 6 (six) factors to support your answer; ?

Question 17.

List and Explain the 5 (five) COSO internal control framework ?

Question 19.

There are two types of confirmations: A positive confirmation requests that the recipient complete a form confirming account balances (for example, how much a customer owes the company). A negative confirmation requests that the recipient respond only if the balance is inaccurate. List 4 (four) conditions under which Neither positive nor negative confirmation will not hold or become applicable when dealing with the clients: ?

Question 22.

List four (6) functions or responsibilities of the Audit Committee in any organisation ?

Question 24.

A) At what point do we issue the following audit reports.

Unqualified/Unmodified audit report

Qualified/Modified Opinion Audit

Adverse Selection Report

Disclaimer Opinion Report

B). Explain what is Material Misstatement and Analytical Procedure

Question 27.

What is Fraud Risk in any organisation (1 mark). As an auditor List four (4) ways that will help you to understand or identify any Fraud Risk in any business ( 4 mark).