Reference no: EM132802

QUESTION 1

i) What is Public Sector internal auditing and what are its objectives?

ii) Statement on Internal Audit Models of following group of countries-

a. Anglophone African Countries
b. Francophone African Countries
c. Latin American Countries
d. Countries of the former Soviet Union.

QUESTION 2

i) Finance is an input resource in Public Sector Organisations (PSOs) and good quality financial information is a pre-requisite for effective decision making. In which particular areas of PSOs do you think an improved range of financial information will be needed and how the impact set of financial information will impact on design and operation of costing systems in PSOs?

ii) Complicated on qualitative characteristics of financial reporting.

QUESTION 3

i) What is Activity- Based Costing (ABC) and explain different steps involved in its implementation?

ii) Describe why ABC is preferred to Traditional Product Costing.

QUESTION 4

Governments in developing countries should adopt accrual-based accounting rather than cash-based accounting in order to manage its financial resources. Do you agree with this declaration? Validate your answer.