Audit and Assurance Risk Environment

AA – May 2020 – L2 – Q4b – Audit and Assurance Risk Environment

Identify and describe two major categories of services provided by internal audit.

Question

AA&A Chartered Accountants have been auditing ABC Company Ltd for the past four years. The company intends to list on the Ghana Stock Exchange, which requires the establishment of an internal audit department if the company does not have one already. Management has asked your firm to brief them about internal audit, and you have been asked to assist in the briefing.

Required:
i) Outline TWO (2) major categories of services that the internal audit function undertakes. (5 marks)

ii) Outline the scope of internal audit function. (5 marks)

Answer

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Tags: Audit and Assurance Risk Environment, Audit Scope, Governance, Internal Audit, Risk Management
Level: Level 3

Topic: Audit and Assurance Risk Environment
Series: MAY 2020

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AA – May 2020 – L2 – Q4b – Audit and Assurance Risk Environment

Identify and describe two major categories of services provided by internal audit.

AA – May 2020 – L2 – Q4b – Audit and Assurance Risk Environment

Identify and describe two major categories of services provided by internal audit.

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AA – May 2020 – L2 – Q4b – Audit and Assurance Risk Environment

Identify and describe two major categories of services provided by internal audit.

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AA – May 2020 – L2 – Q4b – Audit and Assurance Risk Environment

Identify and describe two major categories of services provided by internal audit.

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