NATIONAL OPEN UNIVERSITY OF NIGERIA
14-16 AHMADU BELLO WAY, VICTORIA ISLAND LAGOS
SCHOOL OF MANAGEMENT SCIENCES
OCTOBER/NOVEMBER 2014 EXAMINATION
Course Code: ACC 411 Credit Units: 3
Course Title: ADVANCED AUDIT AND ASSURANCE
Time Allowed: 2½ Hours.
Instructions:
1. Attempt Question 1 and any other three (3) Questions.
2. Question 1 is compulsory and carries 25 marks
while the other 3 Questions carry 15 marks each.
3. Show all your calculations for appropriate marks
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Practice Past Questions
NATIONAL OPEN UNIVERSITY OF NIGERIA
14-16 AHMADU BELLO WAY, VICTORIA ISLAND LAGOS
SCHOOL OF MANAGEMENT SCIENCES
OCTOBER/NOVEMBER 2014 EXAMINATION
Course Code: ACC 411 Credit Units: 3
Course Title: ADVANCED AUDIT AND ASSURANCE
Time Allowed: 2½ Hours.
Instructions:
1. Attempt Question 1 and any other three (3) Questions.
2. Question 1 is compulsory and carries 25 marks
while the other 3 Questions carry 15 marks each.
3. Show all your calculations for appropriate marks
1. Audit tests are referred to in practice by a variety of names. Generally, audit tests can be
divided into two types. Explain the two types of audit test in details.
2. Mention and explain the principles that should be followed in the case of non-audit
engagements.
3. a) What are the functions of the auditor general of the federation
b) The Auditor-General’s office is organized in such a way as to enhance the
performance of his numerous functions. List the divisions of the auditor-general’s office.
4. Forensic accounting encompasses both litigation support and investigative accounting.
Explain in details.
5. The winding-up of a company involves the realisation of its assets and distribution with a
view to terminating (or liquidating) the affairs of the company, in cooperation with its
creditors, and bringing its existence to an end. Explain the modes of winding up a
company?
6. Explain the following terminologies with regards to their responsibilities:
I. Principal Auditor
II. Other Auditor
III. Incoming Auditor
IV. Predecessor Auditor
About National Open University of Nigeria, Lagos
National Open University of Nigeria (NOUN)
Overview:
The National Open University of Nigeria (NOUN) is Nigeria's foremost open and distance learning institution. Established in 1983 but suspended until 2002, NOUN was re-launched with a mission to provide flexible, accessible, and quality education to Nigerians. It operates under the auspices of the National Universities Commission (NUC) and offers a wide range of undergraduate and postgraduate programs across various disciplines.
Mission and Vision:
Mission: To provide affordable, flexible, and high-quality education to all Nigerians, leveraging open and distance learning methodologies.
Vision: To be the foremost institution providing accessible and quality education through open and distance learning in Nigeria and beyond.
Key Features and Distinctions:
Open and Distance Learning (ODL) Model: NOUN operates primarily through distance learning methods, allowing students to study from any location and at their own pace. This flexibility caters to working professionals, adults seeking education, and individuals unable to attend traditional on-campus programs.
Programs and Accreditation: NOUN offers a wide array of undergraduate and postgraduate programs in fields such as Arts, Social Sciences, Management Sciences, Health Sciences, Education, Law, and Agricultural Sciences. All programs are accredited by the NUC, ensuring they meet national educational standards.
Admission and Enrollment: Admission into NOUN is open to all qualified individuals, irrespective of their educational background or location. Prospective students apply online and are admitted based on the fulfillment of specified entry requirements for each program.
Learning Resources and Support: The university provides robust learning resources and support services tailored for distance learners. This includes online course materials, virtual classrooms, academic counseling, and access to physical study centers across Nigeria.
Examinations and Assessment: Students participate in periodic examinations conducted at designated centers nationwide. Assessments may include assignments, quizzes, and final examinations, all designed to evaluate students' understanding and mastery of course materials.
Research and Development: NOUN promotes research and scholarly activities among its faculty and students, contributing to knowledge creation and dissemination in various academic disciplines.
Community and Outreach: Beyond academic pursuits, NOUN is committed to community engagement and outreach initiatives aimed at promoting educational opportunities and societal development.
Accolades and Recognition:
NOUN has earned recognition both nationally and internationally for its pioneering efforts in open and distance learning, contributing significantly to the democratization of education in Nigeria.
Future Directions:
Moving forward, NOUN continues to expand its program offerings, enhance its learning technologies, and strengthen its academic partnerships to further its mission of providing accessible and quality education to Nigerians.
Conclusion:
The National Open University of Nigeria (NOUN) stands as a beacon of open and distance learning in Nigeria, offering flexible educational opportunities that cater to the diverse needs of its student population. With its commitment to quality, accessibility, and innovation, NOUN plays a vital role in shaping the educational landscape of Nigeria and beyond.
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