QUESTION $3$

$15$ marks

You act as a mentor to the junior internal auditors in your department. Part of your responsibility is to assist them with their studies and other aspects regarding their training as internal auditors.

REQUIRED

Marks

$3\mathrm{.}1$ The internal audit process consists of four $(4)$ phases. The second phase is

$(4)$

planning the internal audit $($engagement planning$).$ According to the IIA Standard $2201-$Planning Considerations, what does the internal auditor need to consider when planning the engagement?

$3\mathrm{.}2$ List the four $(4)$ different types of evidence with an example of each type of evidence.