AF3511 – AUDTING
Page numbers from Study Text
Chapter 7
Chapter 8
186 – 189, 191 – 195, 198 – 201, 206 - 210 234 – 246, 266 - 270
Question 1
(5 marks)
10 MCQs of 0.5 mark each
Question 2
(20 marks)
Case Study on Internal Control Systems (Sales, Purchase and Payroll)
Note: Prepare your answer using two columns headed Control deficiency and Control
recommendation respectively.
Control Deficiency
Control Recommendation
Review Presentation Slides / Assignment 2
Case Study from Kaplan Exam Kit 2020-21
S
no
215
218
220
222
224
Case Study
AMBERJACK
RASPBERRY
EQUESTRIAN
HERAKLION
BRONZE
PEAR
229 INTERNATIONAL
Book
Page no
101
106
109
112
114
PDF Page no
125
130
133
136
138
Question Scope
Requirement (b)(i) only
Requirement (b) only
Requirement (b) only
Requirement (b) only
Requirement (b)(i)(ii) only
121
145
Requirement (a)(i)(ii) only
Question 3
Question from Internal Control Systems
(5 marks)
Question 4 and 5
(10 marks)
Questions require brief explanation / examples, as discussed in last session, from below
mentioned topics.
i.
ii.
iii.
iv.
v.
Documenting Client Systems
Control Activities
Sampling
Audit Procedure
Limitations of Internal Control System
Best of Luck!
Key words to look out in Case study for identification of control deficiency
1) Sequentially numbered documents
2) Reviewed / Verified
3) Segregation of Duties
4) Authorized / Signed
5) Batch Total checks
6) Arithmetic checks
7) Exception reports generated by the system
8) Access to Assets
9) Access to Systems and Information (Data)
10) Information should be in writing
11) Reconcile
12) Update records timely
13) Checked / Stamped