Performance Auditing Guidelines 2014

  1. Performance Audit Guidelines 2014 supersedes the Performance Audit Guidelines 2004 and will come into force from June 2014.
    1. True
    2. False
  2. The performance Audit Guidelines are based on
    1. Existing guidelines of C&AG of India
    2. ISSAI guidelines 100,300 and 3000
    3. ASOSAI Performance Auditing Guidelines
    4. All the above
  3. Which among the following is not to be questioned in performance audit?
    1. the objectives of the policy being met by means employed, outputs provided and impacts observed
    2. the means employed and the results achieved consistent with the objectives of the policy
    3. policy per se
    4. none of the above
  4. If you were to examine the efficiency aspects in a hospital, what would you address?
    1. costs of resource procurement.
    2. average cost per patient admitted.
    3. achievement of goals in number of surgeries.
    4. none of the above
  5. Match the following w.r.t. the nature of question to be asked
  6. (A)Effectiveness audit (A)Are the means employed for policy implementation consistent with the sent objectives?
    (B) Evaluation of the consistency of the programme with the policy (B)Are the observed results due to the policy, or are there other causes?
    (C)Evaluation of the impact of the policy (C)Are the results consistentent with the objectives of the policy?
    (D)Evaluation of the effectiveness of the policy and analysis of casuality (D)What is the economic and social impact of the policy?
    1. A-C;B-D;C-B;D-A
    2. A-B;B-A;C-D;D-C
    3. A-C;B-A;C-D;D-B
    4. A-D;B-C;C-B;D-A
  7. Which of the following statement is TRUE with reference to Performance Auditing and Programme Evaluation?
    1. Performance auditing shares similar approaches and methodologies with programme evaluation but does not generally extend to assessing policy effectiveness or policy alternatives
    2. Auditors cannot employ tools of programme evaluation in performance auditing as programme evaluation techniques are mainly statistical based
    3. Programme Evaluation techniques cannot be employed in performance auditing as it requires special skills and knowledge
    4. Performance auditing and programme evaluation have the same scope and both uses the same tools and techniques
  8. Which of the following is NOT likely to be major consideration for selecting individual performance audit topics?
    1. Significance of the topic
    2. Materiality of the topic
    3. Visibility of the topic
    4. Available manpower inhouse
  9. Find out the incorrect statement
    1. It is not always necessary to conduct performance audits of the entity or the programme as a whole
    2. The subjects of performance audit may be selected cutting across various departments or entities
    3. AG should be alive to people centric cutting edge issues but not to take non-financial subjects
    4. none of the above
  10. A field unit of SAI decides to conduct performance audit on a topic 'prevention of adultration of food and beverages'. The total expenditure on the activity during the five year period was a mere 5 lakh rupees. SAI field office decides to conduct a performance audit deploying three performance audit parties. Whether selection of such a topic is justifiable in terms of with reference to the conditions imposed by the performance audit guidelines on selection of performance audit topic?
    1. No. According to the performance audit guidelines, care should be taken while selecting performance audit topics and audit resources should be engaged in high material value transactions
    2. Yes. According to the performance audit guidelines only topics where no money value is involved should be selected
    3. Yes. According to performance audit guidelines, while selecting people centric topics, the criteria to be applied for selection is not just financial materiality.
    4. No. According to the performance audit guidelines, SAI should not be sentimental in dealing with selection of topics. SAI's audit resources should be deployed without being sensitive to the issue of the people
  11. One of the considerations while undertaking risk assessment for prioritizing the subjects identified for performance auditing is past coverage. Which of the following is NOT true with reference to the coverage?
    1. Coverage refers not only to previous SAI coverage but also to other independent reviews of the activity. Such reviews may have been conducted by internal audit, external consultants or government committees or the activity could have been subject to programme evaluation
    2. As a general rule, a low ranking would occur when there has been a substantial review of the activity within the past two years.
    3. Even though the topic was covered by independent reviews extensively in the past two years, a higher ranking would be warranted where the audit has been requested by the legislature or by the government and the previous performance audit indicated that such a follow-up should occur
    4. Coverage refers only to previous SAI coverage other independent reviews of the activity are not relevant to SAI performance Audit
  12. In analyzing risks which of the following question should be addressed w.r.t. PA
    1. what can go wrong?
    2. what is the probability of it going wrong?
    3. what are the consequences?
    4. All of the above
  13. Which among the following is correct as to prioritization of the selected subject
    1. The thumb rule for prioritization is to be guided by the materiality multiplied by risk parameters
    2. The existence, intensity and impact of risks need not be considered in tandem
    3. where the available resources place a constraint outsourcing in part or full including core audit functions may be done
    4. none of the above
  14. Match the following w.r.to the characteristics of good criteria
  15. (A)Reliable criteria (A)are clearly stated and are not subject to significantly different interpretations
    (B) Objective criteria (B)results in findings and conclusions that meet user’s information need
    (C)Useful criteria (C)are free from any bias of the auditor or management
    (D)understandable criteria (D)result in consistent conclusions, when used for assessment in the same circumstances
    1. A-D;B-C;C-B;D-A
    2. A-D;B-A;C-B;D-C
    3. A-C;B-D;C-A;D-B
    4. A-C;B-A;C-D;D-B
  16. Which among the following is incorrect as to the criteria
    1. The higher the degree of acceptance of the criteria, the more effective would be the PA
    2. The audit should note the shift in the role of Governments from a ‘facilitator and regulator’ to ‘provider of services’
    3. The audit should take into account the shift from a ‘Government-Centred’to a ‘people-oriented’approach
    4. none of the above
  17. In instances where an audit body disagrees with the audit criteria then the SAI should:
    1. convene a meeting with the head of the audited body and get him/her to agree on the audit criteria
    2. amend the criteria to suit the requirements of the audited body.
    3. weigh the facts and arguments presented by the audited body against other relevant facts and arguments.
    4. none of the above
  18. Suitable criteria should be identified to enable the performance auditors to assess the activities subject to audit and to achieve the audit objectives. Which of the following is NOT a characteristic of good criteria?
    1. Reliability
    2. Objectivity
    3. Usefulness
    4. Complexity
  19. The recommendations suggested to ready the deficiencies may be acceptable when
    1. the audit objectives have been communicated to the entity
    2. the audit criteria accepted by the entity and no disagreement exists on audit findings
    3. the audit findings are supported by competent relevant and reasonable evidence
    4. All of the above
  20. Considerations that determine the strength of evidence is
    1. If the observation is highly significant and material, it will require stronger evidence to sustain
    2. The strength of evidence should be very high when the degree of risk associated with wrong conclusion is low
    3. Evidence needs to be more convincing, if the issue is noncontroversial or insensitive
    4. none of the above
  21. An expert is a person or firm possessing special skill, knowledge and experience in a particular field other than auditing. Performance auditing may use the services of experts. Which of the following statement is CORRECT with reference to the procurement of the services of the expert or using the work of the experts from time to time?
      1. When using the work performed by an expert, sufficient and appropriate audit evidence should be obtained to ensure that such work is adequate for the purposes of the audit.
      2. Because of the diverse range of activities/subjects to performance auditing, Accountant General may need to obtain audit evidence in the form of reports, opinions, valuations and statements of an expert.
      3. When the performance auditor uses the work of an expert as audit evidence, the responsibility for the conclusions in the audit report lies with the expert
    1. a, b, c
    2. a, b
    3. a, c
    4. c only
  22. Which of the following statement is INCORRECT with reference to the area and scope of performance auditing?
    1. It is always necessary to conduct performance audits of the entity or the programme as a whole by engaging sufficient manpower.
    2. The scope and audit objectives of a performance auditing can be confined only to significant aspects of the programmes or activities.
    3. Where desirable, the subjects of performance audit may be selected cutting across various departments or entities
    4. The selection of the components or parts of the programme may be guided by the materiality and risk profiles of each part or component
  23. What does the word 'reasonable assurance' signify with reference to performance auditing?
      1. Reasonable assurance relates to the accumulation of audit evidence necessary for the auditor to conclude whether there are any material misstatements in the information relating to performance
      2. What is ‘reasonable’ is dependent on the facts of that situation and is to be determined by what evidence could reasonably be expected to be gathered and what conclusions could reasonably be expected to be drawn in the particular situation.
      3. A performance audit conducted in accordance with applicable auditing standards provides reasonable assurance as to whether the information relating to performance is free from material misstatement
      4. Performance Audit does not embrace the concept of providing any reasonable assurance because the concept of reasonable assurance is with reference to the ‘true and fair’ view of the financial statements.
    1. a, b, c, d
    2. a, b, c
    3. b,c,a
    4. only d
  24. Which among the following factor that affect the evidence
    1. samples selected are representative
    2. incomplete evidence and does not establish a cause and effect relationship
    3. unbiased evidence
    4. Evidence that is not conflicting
  25. The important characteristic of sound evidence is
    1. it should be logical and self-sustaining
    2. it should support the audit observations
    3. provides basis of arguments against the best possible counter argument
    4. All of the above
  26. A performance audit report is said to be balanced
    1. if the report adds value to the entity
    2. if the report is ensured through fair conclusions and balanced content and tone
    3. if good performance should also be reported
    4. none of the above
  27. The strategic plan for performance audits, in pursuance of the strategic goals and objectives, prepared by each Accountant General will be approved by SAI top management. The strategic plan document forwarded to the SAI Headquarters should be self-contained. Which of the following is LEAST likely to be part of the strategic plan document?
    1. Strategic goals and strategic objectives set for the office/ SAI to be attained through performance audits over the perspective plan period
    2. Risk assessment of all programmes or activities of the entity's operations that are within the audit jurisdiction of the Accountant General
    3. Executive summary containing a gist of the strategic plan including categorisation of the types of subjects selected for performance audit viz:financial, non-financial, public interest and governance related subjects, recent policy shift issues, concurrent and prescience subjects
    4. A tentative programme of entity field offices to be visited including the details of the personnel who were proposed to be deployed for the performance audit.
  28. Quality control and management system in the context of performance audit consist of
    1. evaluating the intended outcome of the performance audit
    2. strategic/perspective/operational planning
    3. post audit quality review on selective basis by SAI top management
    4. All of the above
  29. In vetting the action taken notes’ the audit has to concentrate on
    1. substantive action on the recommendations
    2. the form of the report
    3. the action taken report be accepted only on verification
    4. none of the above
  30. Which of the following is MOST likely to be the time frame covered by a strategic plan document?
    1. One year
    2. Six months
    3. One quarter
    4. Five years
  31. The most important measure of quality of a performance audit would be:
    1. The extent of positive impact on the policies and programmes of the government through performance audit
    2. The number of pages of the report turned down by the performance audit team
    3. The number of recommendations made in the report based on the audit evidence
    4. The extent of audit analysis and auditing techniques used in the conduct of performance auditing
  32. Which of the following is generally considered as the last stage in a performance audit life cycle?
    1. Finalizing the audit observations
    2. Submission of an audit report incorporating the findings
    3. Follow-up procedures on audit recommendations
    4. Planning for next performance audit
  33. Which of the following statement signify the difference between the term 'performance audit process documentation' and 'performance audit documentation'?
    1. Performance audit process documentation is the documentation of the performance audit management whereas performance audit documentation refers to the working papers for performance audit in support of audit findings, conclusions and recommendations.
    2. Performance Audit documentation is the documentation of the performance audit management and performance audit process documentation is the documentation of the working papers
    3. Both A and B
    4. None of these
  34. An independent assessment or examination of the extent to which an entity, programme or organisation operates efficiently and effectively, with due regard to economy is called:
    1. Independent Auditing
    2. Entity auditing
    3. Performance Auditing
    4. Financial Auditing
  35. Which of the following is CORRECT with reference to the Performance Audit Annual Plan?
    1. Performance Audit Annual operational Plan prepared for a financial year
    2. The time schedule for completion of all stages of a selected performance Audit subject can spread over more than one financial year
    3. None of the above
    4. Both 1 and 2
  36. Which of the following statement is INCORRECT with respect to strategic planning of SAI?
    1. All SAI field offices may carry out in-depth exercise for performance audit strategic planning.
    2. After setting the strategic goals and objectives, the data on entity contained in budget papers, programme papers, plan documents, annual reports, parliamentary debates and reports, media concerns, research and reports of international agencies, follow-up and leads from the past audits, etc. should be analysed on the parameters of risk, materiality, significance, visibility, coverage, etc. to select subjects for performance audits to be carried out over the strategic plan period.
    3. SAI top management may conduct brain storming meetings with Accountants General from time to time in respect of audit strategic and annual operational plan and risk assessment to select the subject which addresses the SAI's concerns for high risk programmes and activities.
    4. The strategic planning is normally done for a period of five years and after approval by the SAI top management, it becomes a static document. No deviations from the plan are permissible until a review is taken up after five years as a rollover exercise.
  37. Which of the following is NOT correct regarding the strategic plan document in the context of performance auditing?
    1. Strategic planning is the process of determining the long-term goals of performance auditing and the best approach for attaining them.
    2. The strategic planning document define the long-term mission statement consisting of goals to be achieved through the performance audits, statements of detailed objectives expected to be accomplished through performance audits and the subjects of performance audits to be carried out in pursuance of the strategic goals and objectives
    3. Strategic planning for performance auditing and overall strategic planning of SAI are one and the same
    4. All of the above
  38. Which of the following is not a type of programme evaluation techniques commonly used in performance auditing?
    1. Process evaluation
    2. Outcome evaluation
    3. Impact evaluation
    4. Policy Evaluation
  39. The audit team would like to verify the quality of the 'Patients Management System' bought by the Hospital last year. What would be an appropriate method that the team can use to best allow for gathering of audit data in an efficient and effective manner?
    1. Physical observation of patients and interview with doctors
    2. Physical observation and documentary review of payments to the supplier
    3. Documentary review, statistical sampling of equipment and interview with patients
    4. Survey with the system users and review of complaints made to the hospital IT unit
  40. Find out the incorrect statement w.r.to quality assurance in PA
    1. Quality assurance is process-centric
    2. Quality assurance is for the entire life cycle of the performance audit
    3. Quality assurance is applied after the work is completed
    4. Quality assurance concerns all steps and techniques that PA auditors must follow to assure quality audit
  41. Which among the following is incorrect statement w.r.to quality control
    1. quality control system attempts to make sure that results of PA are what was expected
    2. quality control measures apply to individual stages or products
    3. quality control is process centric
    4. quality control is applied after the work is completed
  42. Which among the following is a fundamental principle of Performance Audit
    1. performance audit should not include sunrise issues in the light of policy issues
    2. performance audit can be carried out posteriori or concurrently
    3. Cutting edge issues that form the core of governance is outside the scope of performance audit
    4. none of the above
  43. It is important to identify and analyse the risks associated with the entities under audit jurisdiction. In the context of performance audit which of the following statement about risk would be appropriate?
    1. The risk to delivery of an activity/scheme/programme of the entity with economy, efficiency and effectiveness
    2. The risk to material misstatements in the financial statements of the entity
    3. The risk to programme implementation due to natural calamities such as flood, earthquake etc
    4. The risk to programme implementation due to fraudulent activities
  44. A performance Auditor is expected to demonstrate and practice ethical principles and code of conduct and standards while undertaking performance audits. Which of the following statement is true in this regard?
      1. The performance auditor should comply with ethical principles and code of conduct governing the auditor’s professional behaviour and responsibilities, which include integrity, objectivity and fairness, confidentiality, technical standards
      2. It may be desirable that the performance auditor adopts an attitude of professional scepticism throughout the audit, recognising that circumstances may exist that could cause the information relating to performance to be materially mis-stated
    1. Both a and b
    2. Only a
    3. Only b
    4. None of these
  45. The performance auditor might seek to assess or measure effectiveness by comparing outcomes – or impacts – with the goals set in the policy or programme objectives. Such an assessment is also called:
    1. Improvement Analysis
    2. Goal-Achievement Analysis
    3. Financial Inverse Tree
    4. Regression Analysis
  46. Accountants General should be alive to people -centric cutting edge issues while selecting performance audit topics. Which of the following statements are true with reference to selection of people centric topics for performance auditing?
    1. SAI may select topics for performance audit, for which there are either no budgets or these are insignificant, or whose materiality cannot be determined with reference to expenditure, receipts or assets and liabilities only if the subject or the deficient performance could affect a large or vulnerable section in a significant manner.
    2. The materiality of such topics could be determined with reference to the size of the population that is affected and the risk may be assessed with reference to consequence of deficient performance or non-existent intervention by the entity, expected to address such issues.
    3. Both A and B
    4. None of the Above
  47. Audit findings should be
    1. developed on the basis of audit tests carried out on the sample
    2. in the context of audit objectives and criteria
    3. determined to be able to recommend remedial measures w.r.to causes of under performance
    4. All of the above
  48. The potential impact of the performance audit on economy is
    1. better identification/justification of need
    2. introducing sub objectives and targets
    3. reduction in costs through better contracting bulk buying, etc.,
    4. none of the above
  49. Which of the following feature measures the extent to which objectives are achieved and the relationship between the intended impact and the actual impact of an activity?
    1. Efficiency
    2. Effectiveness
    3. Economy
    4. Equity
  50. Which of the following is part of the performance audit impact analysis?
    1. The analysis should provide a comparison of the actual impact against the expected outcome anticipated in the strategic plan and in the audit plan for the individual subjects.
    2. The evaluation will have to necessarily refer to the strategic goals and objectives set out in the performance audit strategic plan and would need to address the extent of contribution of each performance audit to fulfilling the strategic goals and objectives
    3. The impact should be assessed in both qualitative and quantitative terms and be classified in qualitative and quantitative terms.
    4. All of the above
  51. The audit techniques applied to performance audit of subjects relating to sustainable development and environment management are generally similar to those applied to other sectors though the audit objectives and approach may vary. Which of the following statement are correct in respect of audit of subjects relating to sustainable development?
    1. The performance audit on sustainable development would deal with programmes and activities in the context of explicit commitments consequent upon international treaties on environment / sustainable development.
    2. The performance audit on sustainable development should take into consideration national environmental management programmes.
    3. The performance audits of all development projects should also address the environmental impact and its management
    4. All of these
  52. The potential impact of Performance Audit on improved planning, control and management is
    1. improved form of account, including commercial formats
    2. improved external control and monitoring by departments
    3. greater information on sectoral performance
    4. target controls against fraud
  53. A Performance Audit in an IT environment should
    1. assess whether the IT systems enhance economy, efficiency and effectiveness of the entity’s/programme management
    2. examine the IT system development and maintenance practices of the entity
    3. determine whether system out put meet entity quality and service delivery parameters
    4. All of the above
  54. “Performance audit is concerned with the audit of economy, efficiency and effectiveness. Which of the following statement is NOT TRUE with reference to performance auditing?
    1. It embraces audit of the economy of administrative activities in accordance with sound administrative principles and practices and management policies
    2. It embraces audit of the efficiency of utilisation of human, financial and other resources, including examination of information systems, performance measures and monitoring arrangements and procedures followed by audited entities for remedying identified deficiencies
    3. It embraces audit of the effectiveness of performance in relation to the achievement of the objectives of the audited entity and audit of the actual impact of activities compared with the intended impact
    4. It embraces verification of the account balances with reference to the books of accounts to ensure whether statement of accounts presents a true and fair view of the state of affairs of the organization.
  55. CAATs tools can be developed to
    1. access and extract information from auditee databases
    2. perform sampling, statistical processing and analysis
    3. provide reports designed to meet particular audit needs
    4. all of the above
  56. Which is the powerful software tool for evaluation of ongoing projects, particularly those with long gestation
    1. crystal Ball
    2. Teammate
    3. Earned value Analysis (EVA)
    4. none of the above
  57. A diagrammatic representation of the analysis of utilisation of the resources made available for a programme which facilitates a comparison of the budgeted resources with the actual utilization is called:
    1. Financial statement
    2. Budget Tree
    3. Finance Inverse Tree
    4. Regression Chart
  58. To draw a sample of the beneficiaries E.g. sample states/districts within the selected state
    1. cluster sampling is used
    2. Systematic sampling is used
    3. multi-stage sampling is used
    4. none of the above
  59. Spending less, spending well, and spending wisely refers to:
    1. Economy, Efficiency and Effectiveness respectively
    2. Efficiency, Economy and Effectiveness respectively
    3. Effectiveness, economy and efficiency respectively
    4. Effectiveness, efficiency and economy respectively
  60. The SAI must use its power of access to information tactfully. This implies that:
    1. the audited entity must be informed of the intention to audit and audit scope at least three months in advance
    2. requests sought by the audited entity for changes in the dates of audit must be considered
    3. it is desirable that the audited entity is informed of the methods to gather evidence like survey of beneficiaries, interview with employees
    4. giving advance information about the audit to the audited entity takes away the surprise element from audit and hence could be avoided
  61. Economy, efficiency, effectiveness, equity and ethics are, in effect, three plus two issues rather than five issues. Which of the following is correct with reference to this statement?
    1. Equity and ethics issues in performance audits add value only if the audit findings against these two standards affect one or more of the three i.e. economy, efficiency and effectiveness
    2. Ethics and equity are related to the policy issues and an Auditor has no role in ensuring the ethical and equitable behavior of the management
    3. Ethics and equity are difficult to ensure if economy, effectiveness and efficiency has to be ensured
    4. Ethics and equity are automatically ensured if economy, effectiveness and efficiency issues are addressed
  62. It will demonstrate the cerebral competence of the SAI if it is able to display an ability for prescience of the policy shifts and more importantly anticipation of the risks to programmes, performance and public interest. Which of the following statement is relevant in this regard?
    1. Accountants General and the SAI should be alive to major shifts in the policies and programmes of the entity and the consequential new public sector programmes and select critical cutting-edge subjects for performance audits in the context of policy changes.
    2. Performance audits of sunrise issues are likely to contribute value to the implementation of the policy shifts
    3. Both A and B
    4. None of these
  63. Which of the following are considered quality assurance activities?
    1. Report to management on progress against budget
    2. Report to management on progress against schedule
    3. Supervision
    4. Allocation of responsibilities
    5. All of the above
  64. Which of the following is Least likely to be part of a performance auditing?
    1. Examination and reporting on the quality of information and advice available to government for the formulation of policy
    2. Examination and reporting on the existence and effectiveness of administrative to inform the government whether programme objectives and targets have been determined with a view to fulfilling policy objectives
    3. Examination and reporting on compliance to applicable laws and regulations in the context of the performance audit objectives
    4. Examination and reporting on policies formulated by the government per se
  65. Selection of audit topics for performance audits should be determined on which of the following stages of the audit:
    1. pre-study
    2. research and evaluation
    3. main study
    4. none of the above
  66. Which of the following should the auditor first consider when planning the audit:
    1. the audit objectives and criteria.
    2. the audit objectives and findings.
    3. the audit objectives and methodology.
    4. the audit objectives and scope.
  67. Based on strategic planning and further risk assessment, Accountant General identifies a performance audit subject with high priority and whose postponement may be associated with risk. But available manpower put a constraint on undertaking such tasks. Which of the following could be the best alternative in such a situation?
    1. Accountant General may postpone the other performance audits selected for the year and divert the resources
    2. Accountant Genearal may request the Internal Audit wing of the entity to undertake a performance Audit.
    3. Accountant General may document in details the reasons for not being able to undertake the high priority task after analyzing the resources
    4. Accountant General may examine the possibility of outsourcing works in part or full other than the core audit functions with the approval of SAI top management in accordance with the extant policy within the SAI.
  68. What is true in respect of case study technique
    1. It is an-indepth study of individual cases to explore the audit issues
    2. Examining a small selection of cases is cheaper that studying a larger representative sample
    3. case studies involve judgment in selection and is open to bias
    4. All of the above
  69. The weakness/concern of using benchmarking technique is
    1. It stimulates an objective review of processes, practices and systems
    2. It supports recommendations for making changes
    3. Bench Marking requires high degree of skill
    4. none of the above
  70. Which among the following is correct w.r.to the measures of common tendency
    1. mean is a good choice when the underlying data distribution is strongly asymatric
    2. In median one need not look for a symmetric data distribution before application
    3. Mode is the most common value of a variable
    4. none of the above
  71. In considering the steps of the performance audit process, which of the following is more likely to provide information on the implementation of audit recommendations?
    1. Reporting
    2. follow-up
    3. main study
    4. Planning
  72. The audit findings in the report are put into perspective and congruence is ensured when:
      1. Audit objectives link with audit questions
      2. Audit link conclusions with findings
      3. Recommendations link with overall objectives
    1. only 1 is correct
    2. only 2 is correct
    3. only 3 is correct
    4. All of the above are correct
  73. PERT refers to:
    1. Programme Efficiency Review Technique
    2. Programme Evaluation and Review Technique
    3. Programme effectiveness review time
    4. Programme efficiency review time
  74. Which of the following method is suggested in the performance auditing guidelines for obtaining a 360 degree feedback for the performance audit endeavour?
    1. Setting up a system for internal evaluation of impact of performance audits at the close of each year on governance in general and on the entity’s policies and programme management, in particular.
    2. maintain an inventory of recommendations, which are included in the performance audits and follow them up to their implementation, both from the point of nominal count as well as from the point of the quality of implementation
    3. Both A and B
    4. None of the Above
  75. The first stage in performance auditing is:
    1. Implementation of performance audit for individual subjects
    2. Strategic planning for performance audits
    3. Follow up process and impact assessment
    4. Drafting guidelines for performance auditing
  76. Which of the following is NOT an advantage of setting audit objectives in the performance audit?
    1. It ensures good quality performance audits and therefore, is one of the most important quality assurance measures
    2. It fosters discipline and precision
    3. It helps focused data gathering activities
    4. It helps in undertaking the risk analysis
  77. If new information/problems have come to the notice of audit team during the conduct of audit, then
    1. changes should not be made to increase the scope of the audit work plan even if the new audit procedure could have a significant impact on the overall audit question as such increase in scope will cost more time and money.
    2. changes should not be made to increase the scope of the audit work plan even if the new audit procedure could have a significant impact on the overall audit question, but the information/issue could be recorded for subsequent audits or for coverage during follow-up audit.
    3. changes should always be made to the audit work plan on collection of new information as performance audit plans are required to be flexible.
    4. none of the above is correct
  78. Which of the following is LEAST likely to be the objectives of strategic planning in SAI?
    1. provide a firm basis for the SAI management to give strategic direction for future audit coverage
    2. provide a platform for communication with agencies and the legislature on SAI audit strategies
    3. understand entity risks and take them into account in audit selection
    4. initiate disciplinary actions against the non-performing audit staff in SAI
  79. Which of the following documents can act as source documents for strategic planning for performance auditing?
    1. Documents of the entity including their administrative policies
    2. Parliamentary interest in the form of legislation, parliamentary questions, reports of PAC etc
    3. Academic research on entity activities
    4. All of these

Comments

  1. Respected sir,
    Very useful information,easily understandaful going ON

    ReplyDelete
  2. I am grateful for this blog to distribute knowledge about this significant topic. Here I found different segments and now I am going to use these new instructions with new enthusiasm.
    Digital Marketing Training Course

    ReplyDelete
  3. "It is amazing and wonderful to visit your site.Thanks for sharing this information,this is useful to me...
    data science courses"

    ReplyDelete
  4. High level data structures along with dynamic typing make rapid prototyping a breeze in Python data science course in india

    ReplyDelete
  5. Due to increasing demand of Python programmers, students and beginners in industries are choosing Python as their core programming language. best angular course

    ReplyDelete
  6. Our firm is a specialist in Market Programs - we apply the various vehicles that are available to our core business and to our client's business needs, as key elements of the overall Program. salesforce training in noida

    ReplyDelete
  7. This was incredibly an exquisite implementation of your ideas
    data scientist training and placement in hyderabad

    ReplyDelete
  8. This is really informative blog, I have to thank for your efforts. Waiting for more post like this.
    Blue Prism course in Chennai
    Blue Prism Online course
    Blue Prism course in Bangalore

    ReplyDelete
  9. Reading Sai Satchritra is a blessing to everyone to know the history of pure soul. the people who wants to live a happy life must read Sai Satcharitra, its a precious lesson to everyone.
    Regards,

    Chanting Hanuman chalisa daily brings positive vibes to your life, be a dedicated followers of hanuman to get his blessings everyday.
    Regards,


    sai baba answers
    sai baba live darshan
    sai satcharitra

    ReplyDelete
  10. Thanks for the detailed article on this topic. I would like to see more such awesome articles from you.

    ReplyDelete
  11. Good one. thanks for your helpful instruction.

    ReplyDelete
  12. Took me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It’s always nice when you can not only be informed, but also entertained!
    data analytics courses in hyderabad with placements

    ReplyDelete
  13. This comment has been removed by the author.

    ReplyDelete
  14. This was definitely one of my favorite blogs. Every post published did impress me.
    business analytics course in hyderabad

    ReplyDelete
  15. Data Scientist is the top job in the market, as it has promising career growth and high salary packages. Start your preparation with the best Data Science training Institute 360DigiTMG today and become a successful Data Scientist.
    business analytics course in shimla

    ReplyDelete
  16. It is a proficient article that you have shared here about Super Audits Australia I got some unique and valuable information from your article. Thankful to you for sharing this article here.

    ReplyDelete
  17. Very interesting and amazing post related to Fastest Defensive Driving Texas. I will surely share it with friends. Thanks for sharing.

    ReplyDelete
  18. Hey very nice blog. Thanks for sharing. Keep posting. GST Consultant Bangalore

    ReplyDelete
  19. Thank you for bringing up such an important topic. Sharing knowledge and insights on the digital world and the latest news. Auditor Office in Chennai services are essential for any business or organisation. Our auditors are trained professionals who can perform financial and accounting audits as well as review and analyse financial records. More Information https://ptmbs.co.in/auditor-office-in-chennai

    ReplyDelete
  20. Thank you so much for imparting this excellent information to us. Anyone can benefit from this information. Therefore, kindly impart this kind of wisdom to everyone. Thanks. Information about.best pdf signature api

    ReplyDelete
  21. The blog consistently posts new content, and it is a fascinating blog. Thank you for revealing.hire programmers in india

    ReplyDelete
  22. This is a great article you've shared because it offers some great information that will be very helpful to me. I'm grateful that you said that. Work well done; continue.hire coldfusion developers

    ReplyDelete
  23. This is a great article you've shared because it offers some great information that will be very helpful to me. I'm grateful that you said that. Work well done; continue.Offshore Web Designer

    ReplyDelete

  24. Integrated Risk Management is a strategic approach that organizations adopt to comprehensively and cohesively address all dimensions of risk across their operations. This holistic framework brings together various risk management processes, tools, and methodologies into a unified strategy, enabling organizations to identify, assess, mitigate, and monitor risks in a more coordinated and efficient manner.

    ReplyDelete

Post a Comment