Explain to management what an audit is, Business Management

Assignment Help:

QUESTION 1

Part A

Government has recently set up a parasternal body responsible for the management of land in Mauritius. The management is unsure as to the need for an audit. The Director of Audit, the auditor of the body, has asked you to visit the client and explain to management the more fundamental aspects of the accountability of the body.
Required:

(a) Explain to management what an audit is.

(b) Briefly describe the following types of audit

(i) Performance audit

(ii) Management audit

(iii) Internal audit

(c) Explain how management audit differs from financial audit

(d) Statutory audits are audits carried out because the laws require them.

State five benefits of a statutory audit

Part B

(a) The conduct of auditors should be beyond reproach at all times and in all circumstances. Briefly explain the four principles that auditors should apply and uphold

(b) Explain how the objectivity of the external auditor may be threatened or appear to be threatened if the firm, its partners or staff have any financial interest in an audit client.


Related Discussions:- Explain to management what an audit is

Short-term financing, Discuss the three approaches to short-term financing ...

Discuss the three approaches to short-term financing with relevant examples

Reflection, My university lecturer asked me to prepare a reflection on how ...

My university lecturer asked me to prepare a reflection on how was the class and how will the business edge subject will reflect to my life? please answer as soon as possible. abou

STRATEGGIC ANALYSIS: THE INTERNAL ENVIRONMENT, explain and use appropriate ...

explain and use appropriate tools and techniques for conducting an internal appraisal

Explain the cognitive dissonance theory, QUESTION The media can have po...

QUESTION The media can have powerful effects while at times it can have mild effects on shaping opinions. a) Explain the different situations under which the above statement

Identify steps to improve intercultural communication skills, QUESTION 1 ...

QUESTION 1 You are required to give a presentation to a group of 20 staff within your department. Discuss the factors that you should consider in order to make an effective ora

Explain the major aspects of the hawthorne experiment, Question 1: ‘Man...

Question 1: ‘Management by Objectives (MBO) can be used by managers to plan, control, coordinate as well as motivate'. a. Show the main characteristics of an MBO programme.

Establish an electronic commerce presence selling videos, QUESTION (a) ...

QUESTION (a) You have decided to buy a new laser printer for your office. Write a short summary of the processes/activities that you must undertake to gather information about

Global business environment, Integrated Management Project (IMP) This ad...

Integrated Management Project (IMP) This additional section of the Guide provides greater depth in understanding what is expected from you from the perspective of each of the th

Discovering accident causes, Discovering Accident Causes: Before  any step...

Discovering Accident Causes: Before  any steps can be  taken in  it is essential  to find out: The causes of previous  accidents and  The existing  hazards that may  causes

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd