Your are currently engaged in planning the audit of the payroll system of Ujenzi Ltd a manufacturing company, for the year ending 30 June 2005, Ujenzi Ltd‘s payroll system is fully computerized. Required: List any two fraudulent activities likely to be perpetrated in relation to Ujenzi Ltd‘s payroll

Existence of ghost workers. In this case, there could be workers who‘ve passed away but their names still appear on the payroll. Some party somewhere could be benefiting from the remissions without knowledge of the company.
The absence of an audit trail may be a loophole for the accountants to embezzle some money and alter the programs to disguise the fraud

Share through

Share to Download

Your are currently engaged in planning the audit of the payroll system of Ujenzi Ltd a manufacturing company, for the year ending 30 June 2005, Ujenzi Ltd‘s payroll system is fully computerized. Required: Outline how audit tests could be performed ―around the computer‖ in relation to Ujenzi Ltd‘s payroll
Your are currently engaged in planning the audit of the payroll system of Ujenzi Ltd a manufacturing company, for the year ending 30 June 2005, Ujenzi Ltd‘s payroll system is fully computerized. Required: Explain four ways in, which the use of a computerized payroll system by Ujenzi Ltd, would affect your work as the auditor
Your are currently engaged in planning the audit of the payroll system of Ujenzi Ltd a manufacturing company, for the year ending 30 June 2005, Ujenzi Ltd‘s payroll system is fully computerized. Required: Explain three controls which should be instituted by Ujenzi Ltd to ensure that only authorized persons are allowed access to information on personal files and to input updates for the calculation of wages
Draft an online audit programme for the fixed assets of a large manufacturing company
Write briefly explanatory notes on the following types of audit: Statutory audit, Private audit, Balance sheet audit and Management audit;
Distinguish between a procedural audit and a balance sheet audit
Define the term audit programme
Explain the advantages of a private company over a public company
How does audit planning assist in the conduct of an audit?
Write brief explanatory notes on the following audit terms: Vouching audit;
List five limitations of an audit
List two advantages and two disadvantages of using standardised audit programmes during audit assignments
Distinguish between a company limited by shares and a company limited by guarantee
Explain the computer assisted audit techniques listed below: Embedded audit facilities and Integrated test facilities
Explain three characteristics of a public company
Identify four factors that should be taken into consideration by an audit firm when allocating staff to audit assignments
What are computer assisted audit techniques (CAATs)?
List six contents of an unqualified audit report
What is an audit peer review? and state and briefly explain the objectives of an audit peer review
Define and explain the meaning of an audit programme
Briefly explain the types of audit opinion that would normally arise from a limitation in the scope of audit
You are in charge of a group of audit trainees who have just been employed by your audit firm. This is the audit trainees‘ first assignment and they are aware that they are supposed to prepare audit working papers but they do not know how to do so or what information they should include in the audit working paper.‘Required:Provide the audit trainees with guidelines on how they should prepare audit working papers
Explain three characteristics of a private limited company
Explain the reliability of bank statements as audit evidence
You are in charge of a group of audit trainees who have just been employed by your audit firm. This is the audit trainees‘ first assignment and they are aware that they are supposed to prepare audit working papers but they do not know how to do so or what information they should include in the audit working paper.‘Required: Identify the type of information that the audit trainees should include in the audit working papers
Identify any four contents of an audit engagement letter
What is the purpose of an audit report ?
You are in charge of a group of audit trainees who have just been employed by your audit firm. This is the audit trainees‘first assignment and they are aware that they are supposed to prepare audit working papers but they do not know how to do so or what information they should include in the audit working paper. ‘Required: Explain the importance of audit working papers
You are in charge of a group of audit trainees who have just been employed by your audit firm. This is the audit trainees‘ first assignment and they are aware that they are supposed to prepare audit working papers but they do not know how to do so or what information they should include in the audit working paper.‘Required: List any four advantages of standardized audit working papers
List and briefly explain five disadvantages of an interim audit
Outline the basic elements of an unqualified audit report
What specific actions can an individual auditor or audit firm take to minimize liability arising from audit risk?
Explain the nature and purpose of a post-audit review
The auditor should obtain sufficient and appropriate audit evidence to be able to draw reasonable conclusions on which to base the audit opinion. Identify and briefly explain any three procedures for obtaining audit evidence
List four advantages to a company of having its accounts audited
Identify five audit benefits that could be derived from using Computer Assisted Audit Techniques (CAATs) when carrying out testing of computer records
Explain the meaning of the following terms in relation to audit reports. Limitation in the scope of the audit and Emphasis of matter
Briefly explain the following terms as used in auditing: Vouching audit, Inherent risk, Control risk and in depth audit tests
State the basic element of the scope paragraph of an audit report
Identify any four circumstances under which an interim audit would be ideal

KNEC| KASNEB| KISM| Ebooks Kenya

Leave a Reply Cancel reply

Related Posts

Leave a Reply Cancel reply