(b) Describe the principal matters that should be included in your firm’s submission to provide internal auditservices to RBG. (10 marks)
(b) Describe the principal matters that should be included in your firm’s submission to provide internal audit
services to RBG. (10 marks)
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(c) Describe the main stages of a formal grievance procedure that Oliver should now pursue. (10 marks)
(b) Calculate the internal rate of return of the proposed investment and comment on your findings. (5 marks)
(b) Using the TARA framework, construct four possible strategies for managing the risk presented by Product 2.Your answer should describe each strategy and explain how each might be applied in the case.(10 marks)
(e) Internal controls are very important in a complex civil engineering project such as the Giant Dam Project.Required:Describe the difficulties of maintaining sound internal controls in the Giant Dam Project created by workingthrough sub-contractors. (4 marks)
(ii) Construct the argument against Professor West’s opinion, and in favour of Professor Leroi’s opinion thata principles-based approach would be preferable in developing countries. Your answer should considerthe particular situations of developing countries. (10 marks)
Required:(iii) A firm of consultants has offered to undertake a study on behalf of Envico Ltd which will provide perfectinformation regarding seminar attendance during the forthcoming year.Advise the management of Envico Ltd with regard to the maximum amount that they should pay toconsultants for perfect information regarding seminar attendance and comment briefly on the use ofperfect information in such decisions. (5 marks)
(c) (i) Provide three examples of personal financial planning protection products that would be of use inHenry’s situation. Justify your selections by reference to the type of protection provided. (6 marks)
(b) Describe the principal audit work to be performed in respect of the useful lives of Shire Oil Co’s rig platforms.(6 marks)
(c) During the year Albreda paid $0·1 million (2004 – $0·3 million) in fines and penalties relating to breaches ofhealth and safety regulations. These amounts have not been separately disclosed but included in cost of sales.(5 marks)Required:For each of the above issues:(i) comment on the matters that you should consider; and(ii) state the audit evidence that you should expect to find,in undertaking your review of the audit working papers and financial statements of Albreda Co for the year ended30 September 2005.NOTE: The mark allocation is shown against each of the three issues.
(c) Your firm has provided financial advice to the Pholey family for many years and this has sometimes involved yourfirm in carrying out transactions on their behalf. The eldest son, Esau, is to take up a position as a seniorgovernment official to a foreign country next month. (4 marks)Required:Identify and comment on the ethical and other professional issues raised by each of these matters and state whataction, if any, Dedza should now take.NOTE: The mark allocation is shown against each of the three situations
(b) Explain the matters you should consider before accepting an engagement to conduct a due diligence reviewof MCM. (10 marks)
(b) Chatam, a limited liability company, is a long-standing client. One of its subsidiaries, Ayora, has made lossesfor several years. At your firm’s request, Chatam’s management has made a written representation that goodwillarising on the acquisition of Ayora is not impaired. Your firm’s auditor’s report on the consolidated financialstatements of Chatam for the year ended 31 March 2005 is unmodified. Your firm’s auditor’s report on thefinancial statements of Ayora is similarly unmodified. Chatam’s Chief Executive, Charles Barrington, is due toretire in 2006 when his share options mature. (6 marks)Required:Comment on the ethical and other professional issues raised by each of the above matters and their implications,if any, for the continuation of each assignment.NOTE: The mark allocation is shown against each of the three issues.
(d) Briefly describe the principal audit work to be performed in respect of the carrying amount of the followingitems in the balance sheet:(i) trade receivables; and (3 marks)
(b) State, with reasons, the principal additional information that should be made available for your review ofRobson Construction Co. (8 marks)
(c) Briefly describe the principal audit work to be performed in respect of the carrying amount of the followingitems in the balance sheet:(i) development expenditure on the Fox model; (3 marks)
(b) Seymour offers health-related information services through a wholly-owned subsidiary, Aragon Co. Goodwill of$1·8 million recognised on the purchase of Aragon in October 2004 is not amortised but included at cost in theconsolidated balance sheet. At 30 September 2006 Seymour’s investment in Aragon is shown at cost,$4·5 million, in its separate financial statements.Aragon’s draft financial statements for the year ended 30 September 2006 show a loss before taxation of$0·6 million (2005 – $0·5 million loss) and total assets of $4·9 million (2005 – $5·7 million). The notes toAragon’s financial statements disclose that they have been prepared on a going concern basis that assumes thatSeymour will continue to provide financial support. (7 marks)Required:For each of the above issues:(i) comment on the matters that you should consider; and(ii) state the audit evidence that you should expect to find,in undertaking your review of the audit working papers and financial statements of Seymour Co for the year ended30 September 2006.NOTE: The mark allocation is shown against each of the three issues.
(b) Explain the matters that should be considered when planning the nature and scope of the examination ofCusiter Co’s forecast balance sheet and income statement as prepared for the bank. (7 marks)
(c) Describe the examination procedures you should use to verify Cusiter Co’s prospective financial information.(9 marks)
(b) (i) Explain the matters you should consider to determine whether capitalised development costs areappropriately recognised; and (5 marks)
(b) Describe the principal audit procedures to be carried out in respect of the following:(i) The measurement of the share-based payment expense; (6 marks)
A new internal auditor, Daisy Rosepetal, has recently joined Bluebell Co. She has been asked by management toestablish and to monitor a variety of social and environmental Key Performance Indicators (KPIs). Daisy has noexperience in this area, and has asked you for some advice. It has been agreed with Bluebell Co’s audit committeethat you are to provide guidance to Daisy to help her in this part of her role, and that this does not impair theobjectivity of the audit.(c) Recommend EIGHT KPIs which could be used to monitor Bluebell Co’s social and environmentalperformance, and outline the nature of evidence that should be available to provide assurance on theaccuracy of the KPIs recommended. Your answer should be in the form. of briefing notes to be used at ameeting with Daisy Rosepetal. (10 marks)Note: requirement (c) includes 2 professional marks.
(ii) From the information provided above, recommend the matters which should be included as ‘findingsfrom the audit’ in your report to those charged with governance, and explain the reason for theirinclusion. (7 marks)
Following a competitive tender, your audit firm Cal Co has just gained a new audit client Tirrol Co. You are the manager in charge of planning the audit work. Tirrol Co’s year end is 30 June 2009 with a scheduled date to complete the audit of 15 August 2009. The date now is 3 June 2009.Tirrol Co provides repair services to motor vehicles from 25 different locations. All inventory, sales and purchasing systems are computerised, with each location maintaining its own computer system. The software in each location isthe same because the programs were written specifically for Tirrol Co by a reputable software house. Data from each location is amalgamated on a monthly basis at Tirrol Co’s head office to produce management and financial accounts.You are currently planning your audit approach for Tirrol Co. One option being considered is to re-write Cal Co’s audit software to interrogate the computerised inventory systems in each location of Tirrol Co (except for head office)as part of inventory valuation testing. However, you have also been informed that any computer testing will have to be on a live basis and you are aware that July is a major holiday period for your audit firm.Required:(a) (i) Explain the benefits of using audit software in the audit of Tirrol Co; (4 marks)(ii) Explain the problems that may be encountered in the audit of Tirrol Co and for each problem, explainhow that problem could be overcome. (10 marks)(b) Following a discussion with the management at Tirrol Co you now understand that the internal audit department are prepared to assist with the statutory audit. Specifically, the chief internal auditor is prepared to provide you with documentation on the computerised inventory systems at Tirrol Co. The documentation provides details of the software and shows diagrammatically how transactions are processed through the inventory system. This documentation can be used to significantly decrease the time needed to understand the computer systems and enable audit software to be written for this year’s audit.Required:Explain how you will evaluate the computer systems documentation produced by the internal auditdepartment in order to place reliance on it during your audit. (6 marks)
问答题Test 12 Friendship is forever a topic for human beings. How do you view “friendship”? Write on ANSWER SHEET TWO a composition of about 200 words on the following topic:FRIENDSHIP You are to write in three parts. In the first part, state specifically what your idea is. In the second part, provide one or two reasons to support your idea OR describe your idea. In the last part, bring what you have written to a natural conclusion or a summary. Marks will be awarded for content, organization, grammar and appropriateness. Failure to follow the instructions may result in a loss of marks.
单选题We are looking for a Principal Economist, who as well as advising managers and board members on environmental economic policy matters, will develop policy relating to cost benefit analysis at the upcoming review and beyond.AThe Principal Economist will become a board member.BThe Principal Economist will deal with environmental matters.CThe Principal Economist’s major responsibility is to make certain policy.