ACCA F8 - Audit and Assurance Revision Kit 2016

(v)
(vi)
The ability of current employees in current roles carry out proposed internal audit assignments
It may be that the relevant expertise and time exists within the organisation already to fulfil the
objectives that would be set for an internal audit department.
The susceptibility of the business to fraud
The more susceptible the business is to fraud the greater the need for an internal audit department
(eg to review relevant controls and assist in fraud investigations). Supermarkets collect large sums of
cash so Sunflower is likely to be relatively susceptible and will need robust controls to prevent fraud.
These controls will need to be monitored.
Mock exam 2: answers 239