ASSIGNMENT

DRIVE FALL 2018

PROGRAM Master of Business Administration - MBA
SEMESTER III
SUBJECT CODE & FIN 304
NAME Internal Audit and Control
BK ID B1733
NUMBER OF 2, 4 CREDIT, 30 MARKS EACH
ASSIGNMENTS,
CREDIT & MARKS

Note – The Assignment is divided into 2 sets. You have to answer all questions in both sets.
Average score of both assignments scored by you will be considered as your IA score. Kindly
note that answers for 10 marks questions should be approximately of 400 words.

Q.No Assignment Set -1 Total

Marks
Questions Marks
What do you mean by Financial Audit? What are the objectives of Financial
Audit?
Define and Explain Financial Audit 5 10
1
Explain the various objectives of Financial Audit 5

What are the differences between internal audit and external audit list out its
similarities and dissimilarities?
2 Points of similarities and dissimilarities 10 10

What are the factors that are to be considered in Internal Audit Planning?
Explain the factors that are to be considered in Internal Planning 10 10
3 Audit
Q.No Assignment Set -2 Marks Total
Questions
Marks

What are the basic principles that are governing internal Control?
1 Explain the principles that are governing internal Control 10 10

What is Audit Risk? What are the various important elements that an insurance
company should ensure for effective internal control system?
Elaborate Audit Risk 3 10
2
Explain the various important elements that an insurance company 7
should ensure for effective internal control system

What are problems encountered in an electronic data Processing environment?

3 Problems encountered in an electronic data Processing 10 10
environment