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APPENDIX- BKWAME NKRUMAH UNIVERSITY OF SCIENCE & TECHNOLOGY (KNUST) INSTITUTE OF DISTANCE LEARNING QUESTIONNAIRE TO RESPONDENTS:

TOPIC: THE ROLE OF INTERNAL AUDITING IN GHANA WATER COMPANY LTD-ACCRA EAST REGION Dear Respondent, We are final year students of KNUST and making enquiry into the roles of Internal Auditing in Ghana Water Company Ltd. We would like to know your opinion on the above topic to enable us complete a research on the topic in partial fulfilment of an award of a Bachelor of Science degree in Business Administration (Accounting Option). I would be very grateful if you could complete this question and I promise to treat any information confidential. We hope that you feel comfortable to give answers to the best of your knowledge and state that, all information given will be treated confidential.

Thank you for your co-operation.

INSTRUCTIONS:

Please mark the appropriate box and give your suggestion and comment where necessary. PART I: PERSONAL INFOMATION 1. What is your educational level? (Tick) a) Middle School b) Secondary School c) First Degree d) Masters Degree e) Others

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2. What is your role functions ................................................................ 3. How Many years have you been on this role schedule? (Tick) a) 1 year to 3 years [ ] b) 3 years to 6 years [ ] c) 7 years to 10 years [ ] d) 11 years to 15 years [ ] e) Above 15years [ ] 4. Do you belong to any professional Accounting Body? a) Yes [] NO [ ] 5. If yes Which Professional body do you belong to? a) ACCA b) ICAG c) CIMA d) CFA e) CPA f) Others 6. Do you work in the Internal Audit Department? a) YES[ ] NO [ ] If Your Answer is YES to question 6, Please Answer all Questions Except Question 12 to 15 If Your Answer is NO, Answer ONLY questions 12 to 15

PART II: THE ROLE OF THE INTERNAL AUDIT UNIT Please rate how strongly you agree or disagree with each of the following statements. 7. To what extent does the internal Audit Unit perform the following activities 1= Not performed; 2 = occasionally; 3= often; 4= very often a. Review of the accounting and internal control systems b. Examinations of financial and operating

Information
c. Review of the economy, efficiency and effectiveness

Of operations including non-financial controls of an entity;


d. Review of compliance with laws, regulations 1 2 3 4

and other external requirements and with management policies and directives
e. Conduct of special investigations into 1 1 2 2 3 3 4 4

cases such as suspected fraud

PART III: RISK MANAGEMENT 8. Please comment briefly on the extent of the work done by the Internal Audit Unit on the following 3 assurance services a. Risk Management process, both the design and the function of the risk management framework b. Management of key risk including the effectiveness of the controls and other response to the risk .. c. Reliable and appropriate assessment of risk and reporting of risk and control status. 9. What are the major risk faced by Ghana Water Company Ltd, Accra East Region a. Operational Risk [ ] b. Risk of Fraud [ ] c. Compliance Risk [ ] d. Financial Risk [ ]

PART IV: INTERNAL CONTROLS 10. To what extent do you agree with the statement that management have adequate

internal controls (both detective and preventive controls) over the following: -2= Strongly Disagree; -1= Disagree; 0= neither; 1= Agree; 2= strongly agree

a. Control over fixed assets b. Control over cash c. Control over Payroll d. Control over stocks/inventory e. Quality control

-2 -2 -2 -2 -2

-1 -1 -1 -1 -1

0 0 0 0 0

1 1 1 1 1

2 2 2 2 2

a. Financial Reporting Controls

-2

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11. How is internal control Assessed and Monitored a) Use of Reconciliation reports b) Quarterly financial and Operational reports c) Quarterly financial and operational audits PART V: CHALLENGES FACED BY INTERNAL AUDIT 12. What are some limitations faced by the Internal audit department a) Auditor independence b) Standards required in the operation the company c) Understanding the internal auditors work d) Expectation gap

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PART VI: INTERNAL AUDIT AND OTHER DEPARTMENTS 13. To what extent do you consider the internal audit department as being efficient in their work a) Very Efficient [ ] b) Some-how efficient [ ] c) Very poor [ ] 14. What other activity will you recommend to be done by the internal audit department?