QUESTION $2$

$(22$ marks$)$

The chief audit executive $($CAE$)$ of LOVETAG Limited's internal audit function $($IAF$)$ enquired whether you could provide him with advice on different audit approaches that can be followed by internal auditors. He observed that the recommendations made lately in the internal audit reports that he signed off, referred only to recommended steps to improve internal controls and enquired whether you are aware of any other types of audit engagements that can add value to the organisation.

REQUIRED:

PART A

$(6$ marks$)$

Discuss in detail three $(3)$ different types of audit engagements that are most often performed by internal auditors. Complete your answer using the following template:

$\backslash$table$[[\backslash$table$[[$Types of audit$],[$engagements$]],,,],[\backslash$table$[[$Audit$/$engage$-],[$ment objective$/$s$]],,,(3)]]$