- 20 Marks
AA – Nov 2021 – L2 – Q3 – Internal Audits
Discuss audit considerations for Youthplus, a Not-for-Profit Organisation.
Question
Youthplus is a Not-for-Profit Organisation (NFPO) established by well-meaning Nigerians. The aims and objectives of the NFPO include raising funds to assist youth corpers who, after their service, are unable to secure employment, to start small-scale businesses instead of waiting for white-collar jobs that are not in existence. NFPO solicits funds from the public, private, and foreign organisations. Youthplus has been in existence for five years, and your firm has been appointed as their auditors.
Required:
What factors would you put into consideration when carrying out the audit of Youthplus in the following areas?
a. Planning (4 Marks)
b. Risk (4 Marks)
c. Internal control (4 Marks)
d. Audit evidence (4 Marks)
e. Reporting (4 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Audit evidence, Audit Planning, Internal Control, NFPO, Reporting, Risk Assessment, Youthplus
- Level: Level 2
- Topic: Internal Audits
- Series: NOV 2021