Questions from General Auditing

Q: We have not discussed this at length yet, but can you

We have not discussed this at length yet, but can you at this stage suggest what benefits society should derive from a competent, independent and effective audit function?

Q: Suggest why auditors might be in a good position to provide a

Suggest why auditors might be in a good position to provide a service giving assurance on the effectiveness of the company’s information and control system. Take a look at Table 1.1 while you are cons...

Q: Describe the nature of an extranet and explain why it might be

Describe the nature of an extranet and explain why it might be a useful means of achieving business objectives. You are auditor of an entity carrying on business using an extranet. Explain what contr...

Q: World Com tried to maintain profit levels by treating revenue costs (

World Com tried to maintain profit levels by treating revenue costs (over $3.8 billion) as capital expenditure. Explain what the impact would be if revenue costs (such as repairs to plant and machiner...

Q: Discuss the arguments for and against requiring the mandatory rotation of auditors

Discuss the arguments for and against requiring the mandatory rotation of auditors.

Q: The following question is taken from the June 2011 F8 Paper –

The following question is taken from the June 2011 F8 Paper – Audit and Assurance of the ACCA. We are only asking you to consider requirement (a) of the question. You are an audit manager in NAB & Co....

Q: Explain how auditing theory might give useful insights into the practice of

Explain how auditing theory might give useful insights into the practice of auditing. Your answer should make reference to the postulates and concepts of auditing.

Q: Why do you think that the collapse of Enron and other scandals

Why do you think that the collapse of Enron and other scandals affecting large companies may have resulted in a widening of the audit expectations gap? You may want to refer to contemporary reports an...

Q: Explain why the civil society is just as interested in the way

Explain why the civil society is just as interested in the way that large companies, including banks, behave as are the shareholders of those companies. What do you think is meant by the public intere...

Q: The trade payables figure in most companies is normally material in the

The trade payables figure in most companies is normally material in the context of the financial statements taken as a whole. What assertions do you think that management is implicitly making about th...