Part (d) for 4 marks required candidates to distinguish between internal and external audit. This question was answered well by most candidates with many scoring full marks.

Many candidates laid their answers out in two columns and this tended to increase their marks, as it meant they considered both internal and external audit for each point raised. Those who wrote a paragraph each for internal and external audit sometimes missed out points. For example they might answer that “external auditors report to shareholders” but then fail to say that “internal audit report to management or those charged with governance”.

Weaker answers were those which were far too brief. For example “private/public” with the heading of reports is not sufficient to score the 1 mark available. Candidates who provide answers such as these possess the knowledge, they just failed to write with sufficient detail.