Continuity – NBC Institute

AAA – Nov 2011 – L3 – SAII – Q4 – Ethical Issues in Auditing

Definition of a retired partner retained for continuity in a firm.

Question

A retired partner in a firm now managed by other members but retained by the members for the sake of continuity is known as a………………………..

Answer

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Tags: Audit Firm Structure, Continuity, Firm Management, Retired Partner
Level: Level 3

Topic: Ethical Issues in Auditing
Series: NOV 2011

AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit

Explains two advantages and three disadvantages of outsourcing an internal audit function to an external company.

Question

Traditionally, internal audit work is undertaken mainly by in-house teams. However, in recent times many organizations outsource either completely or partially their internal audit function. Kofi Krakye, the Financial Controller of BHB Ltd, has advised management to consider outsourcing their internal audit function to FPP Ltd.

Required:
Explain TWO (2) advantages and THREE (3) disadvantages of outsourcing the internal audit function to FPP Ltd.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Advantages, Conflict of Interest, Continuity, Cost, Disadvantages, External audit, Internal Audit, Outsourcing
Level: Level 2

Topic: Internal Audit and Its Relationship with External Audit
Series: NOV 2021

AAA – Nov 2011 – L3 – SAII – Q4 – Ethical Issues in Auditing

Definition of a retired partner retained for continuity in a firm.

Question

A retired partner in a firm now managed by other members but retained by the members for the sake of continuity is known as a………………………..

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Firm Structure, Continuity, Firm Management, Retired Partner
Level: Level 3

Topic: Ethical Issues in Auditing
Series: NOV 2011

AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit

Explains two advantages and three disadvantages of outsourcing an internal audit function to an external company.

Question

Required:
Explain TWO (2) advantages and THREE (3) disadvantages of outsourcing the internal audit function to FPP Ltd.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Advantages, Conflict of Interest, Continuity, Cost, Disadvantages, External audit, Internal Audit, Outsourcing
Level: Level 2

Topic: Internal Audit and Its Relationship with External Audit
Series: NOV 2021

Question Tag: Continuity

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AAA – Nov 2011 – L3 – SAII – Q4 – Ethical Issues in Auditing

Definition of a retired partner retained for continuity in a firm.

AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit

Explains two advantages and three disadvantages of outsourcing an internal audit function to an external company.

AAA – Nov 2011 – L3 – SAII – Q4 – Ethical Issues in Auditing

Definition of a retired partner retained for continuity in a firm.

AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit

Explains two advantages and three disadvantages of outsourcing an internal audit function to an external company.

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AAA – Nov 2011 – L3 – SAII – Q4 – Ethical Issues in Auditing

Definition of a retired partner retained for continuity in a firm.

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AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit

Explains two advantages and three disadvantages of outsourcing an internal audit function to an external company.

You're reporting an error for "AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit"

AAA – Nov 2011 – L3 – SAII – Q4 – Ethical Issues in Auditing

Definition of a retired partner retained for continuity in a firm.

You're reporting an error for "AAA – Nov 2011 – L3 – SAII – Q4 – Ethical Issues in Auditing"

AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit

Explains two advantages and three disadvantages of outsourcing an internal audit function to an external company.

You're reporting an error for "AA – Nov 2021 – L2 – Q1a – Internal Audit and its Relationship with External Audit"

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