Auditing and Mf0013 Internal Audit

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  • Topic: Lehman Brothers, Auditing, Chapter 11, Title 11, United States Code
  • Pages : 2 (287 words )
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  • Published : December 9, 2012
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Spring / February 2012

Master of Business Administration- MBA Semester 3
MF0013 – Internal Audit and Control - 4 Credits
(Book ID: B1211)
Assignment Set- 1 (60 Marks)

Note: Each Question carries 10 marks. Answer all the questions.

Q1. Explain the use of Sampling technique in Internal Audit ( SA500) Q2. Discuss, in brief, the advantages and limitations of auditing. Q3. Discuss the main scope and objects of internal audit?
Q4. As a senior audit assistant of M/s. Asutosh Associates, you are in charge of internal audit team of M/s Rajesh Technologies involved in the manufacture of plastic tubes. From the information you obtained you find the company is facing liquidity problem for the last two years. You are required to prepare working paper indicating the internal audit problems you would expect to face and how you plan to overcome them.

Q5. Detail the specific problems of electronic data process relating to Internal control. Q6. Explain the principal considerations in internal control on: a. Purchases and creditors
b. Fixed assets

Spring / February 2012

Master of Business Administration- MBA Semester 3
MF0013 – Internal Audit and Control - 4 Credits
(Book ID: B1211)
Assignment Set- 2 (60 Marks)

Note: Each Question carries 10 marks. Answer all the questions.

Q1. Lehman Brothers Holding filed for Chapter 11 bankruptcy protection following the massive exodus of most of its clients, drastic losses in its stock and devaluation of its assets. In context with this case, examine internal control and risk assessment system.

Q2. Describe internal audit tests.

Q3. Explain the basic principles governing internal control. Q4. Discuss the advantages and disadvantages of internal check. Q5. Explain the appraisal of accounting system and related internal control. Q6. Explain SAP-6 in brief.

Spring / February 2012

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