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Master of BusinessAdministration-MBA Semester3 MF0013 Internal Audit and Control -4 Credits

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Ea h question is followed by e!aluation s heme.

Q1.

Discuss, in brief, the advantages and limitations of auditing. (Advantages of auditing 5 marks; Limitations of auditing 5 marks)

10 marks

Q2.

Explain the key ob ectives of a good internal audit system. !rite do"n the essentials for effective internal auditing. (Objectives of good internal audit system 5 marks ; Essentials of effective internal auditing 5 marks)

10 marks

Q#.

$ist the re%uired %ualifications of an internal auditor. Describe the role of 10 marks iQ!&'Qa( a)*$!+' $Q !,& -+./aQ012 .aQa3&.&Q!. (Listing of qualifications for internal auditor 5 marks; auditor 5 marks) role of internal

Q4.

Explain the basic principles of governing internal control. (Basic rinci les of governing internal control !" marks)

10 marks

Q5.

Discuss the specific problems of Electronic Data .rocessing 6ED.7 relating to internal control. (E# lanation of all roblems of E$% !" marks)

10 marks

Q8.

Explain the factors for having the effective internal control system for a bank. (E# lanation of various as ects of &aving t&e effective internal control system !" marks)

10 9arks

Summer 2013