Page 211 - DCOM509_ADVANCED_AUDITING

Advanced Auditing

Notes 11.5 Review Questions

1. What do you mean by efficiency?
2. Discuss the techniques of Special Audit.

3. Define the following terms:
(a) Internal Audit
(b) External Audit
(c) Special Audit
(d) Adverse Opinion

4. Explain the types of Special Audit.
5. What is the difference between internal and external audit?
6. How does efficiency relate to economy and effectiveness?

7. What are the benefits of Auditing efficiency?
8. How to measure the audit efficiency?
9. What do you mean by Statistical sampling?
10. “Efficiency information is necessary for management to determine whether the level of
efficiency achieved meets an acceptable standard.” Elaborate this statement.

Answers: Self Assessment

1. Audit Risk 2. Auditor
3. Statistical 4. Ownership
5. Statements 6. External

7. Multinational 8. Opinion
9. Public 10. Efficiency
11. Approach 12. Material
13. Management 14. Opportunities

15. Utilization
11.6 Further Readings

Books Brinkerhoff, Robert O. Productivity Measurement—A Guide for Managers and
Evaluators. Sage Publications, 1990.
Canada. Treasury Board. Operational Performance Measurement (two vols.) Ottawa:
Information Canada, December 1974.
Canada. Treasury Board Secretariat. Standards for Service: A Guide to the Initiative.
Ottawa: Treasury Board Secretariat, June 1993.
Camp, Robert C. Benchmarking. New York: Quality Resources, 1989.

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