Golf day quiz

Are all performance measures included in the Performance Reporting AAM?

• Yes

• No

• Only the ones the Director decides

• Only material measures

What does ABRA stand for?

• Audit Basic Risk Assessment

• ABCD gone wrong

• Account Balance Risk Assessment

• Ancillary Basis for Risk Analysis

How do you know you have the latest version of the ABRA?

• Under planned substantive testing there is a column for ‘timing’

• ABRA was last updated in November 2018

• Incorrect combination of selecting fraud and significant risk will result in the inherent risk column highlighting in yellow

• All of the above

The ‘expected effectiveness of controls’ column is the result of your test of controls before revalidation?

• Do you really expect me to know this?

• True

• False

What does "a nut for a jar of tuna" spell backwards?

• a nut for a jar of tuna

• anut fo raj o rof tun a

• ɐunʇ ɟo ɹɐɾ ɐ ɹoɟ ʇnu ɐ

• This is beyond my skill set

What does AAM stand for in Performance Reporting AAM?

• Auditors Assessment of Measures

• All and All Measures

• Audit Assurance Matrix

• Assurance Audit Matrix

Substantive testing in the ABRA indicates to the auditor

i. The nature, timing and extent of the audit procedures

ii. What audit tests we are going to perform

iii. What type of analytical procedures we will perform

iv. Sample size

v. Substantive test of details

• ii, iv, v

• i, ii, iii, v

• ii,iii,iv,v

• ii,iii, v

• i, ii, iii, iv

How do you assess completeness of measures in the Performance AAM for crown entities?

• Inspect the Statement of Performance Expectations (SPE) and Statement of Intent (SOI) to ensure that all measures have been considered

• Inspect the SPE to ensure that all measures have been considered

• Inspect the SPE, SOI and estimates vote to ensure that all measures have been considered

• Inspect the estimates vote to ensure that all measures have been considered

All other performance measures line in the Performance Reporting AAM is there:

• As an example

• To delete

• To represent all the performance measures which were not selected as material

Should the ABRA and Performance Reporting AAM be discussed as part of the planning meeting?

• No, these documents are for discussion between the supervisor, manager and director only

• No, these take up a lot of time during the meeting and you can read them before you start the audit

• Yes, you can learn about the audit approach and gain an understanding of the risks