The founders and owners of the university, doing business virtually, realized there was a need in the market for the development and delivery of an educational product that was tailored to the needs of South African employers as a result of the introduction of e-learning and the issues associated with the rise of international providers of online tertiary education. In particular, they were concerned about the lack of accreditation and recognition by South African employers.

The university was founded in 1998 as a privately owned university that is based in the Western Cape. All of the university's founders had previously held academic positions at other South African institutions. Their functional disciplines included marketing, computer technology, accountancy, organisational management, and other business-related fields.

They have emerged as development, strategic management, and operational management.

They are recognised as authorities in their domains. After obtaining the required authorization from the VOU started operating as a university in 2000, according to the Department of Education (DoE), distributing its product options to pupils that express interest.

The relatively few students enrolled at the university at the time of its founding and the necessity In order to actively drive the operational plan, the founding directors had to be deeply involved in all facets of the company as well as in developing and integrating the processes.

controls and procedures. As company volumes began to increase, specialised support personnel was hired to run the systems and administer them. Consequently, despite continuing to be associated Generally speaking, the majority of the directors' prior management and administrative duties have now been assigned to staff members. The new resourcing strategy, however, did not modifications to controls and processes. The mechanisms already in place were just modified to Provide space for the extra workers.

The board has asked the internal audit department to undertake an audit on the effectiveness of the strategic administrative systems of the university after realising that the current situation is not ideal and that systems, processes, and controls might no longer support optimal performance.
You have chosen to conduct an operational audit as the chief audit executive (CAE) of the university, with the first phase of this audit focused on the general efficiency of the administrative activities of the institution.

1.1 Clearly differentiate between the operational auditing principles of economy, efficiency, and effectiveness in your own words.
1.2 Determine three (3) audit goals for each of the ideas in 1.1 that will direct the auditors as they conduct an operational audit on the overall efficiency of the administrative activities at the university 

1.3. Describe in detail an auditing process that will allow the auditors to ultimately reach a determination on the economy, efficiency, and effectiveness of the administrative activities within the university.

  

 

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11 The operational auditing principles of economy efficiency and effectiveness can be differentiated as follows Economy This auditing principle is con... View the full answer