浙江省考生注意：2020年ACCA国际会计师考试准考证打印预计时间

正确答案：
(b) Principal audit work – useful life of rig platforms
Tutorial notes: The platforms are just one item of each rig. Candidates should not be awarded marks here for the matters
to be considered in the assessment of useful lives (since this is illustrated in the scenario). No marks will be awarded for
criticising management for estimating useful lives on a per platform. basis or for audit work on depreciation charges/carrying
amounts unrelated to the determination of useful lives.
■ Review of management’s annual assessment of the useful life of each rig at 31 December 2005 and corroboration of
any information that has led to a change in previous estimates. For example, for the abandoned rig, where useful life
has been assessed to be at an end, obtain:
? weather reports;
? incident report supported by photographs;
? insurance claim, etc.
■ Consider management’s past experience and expertise in estimating useful lives. For example, if all lives initially
assessed as short (c. 15 years) are subsequently lengthened (or long lives consistently shortened) this would suggest
that management is being over (under) prudent in its initial estimates.
■ Review of industry comparatives as published in the annual reports of other oil producers.
■ Comparison of actual maintenance costs against budgeted to confirm that the investment needed in maintenance, to
achieve expected life expectancy, is being made.
■ Comparison of actual output (oil extracted) against budgeted. If actual output is less than budgeted the economic life
of the platform. may be:
? shorter (e.g. because there is less oil to be extracted than originally surveyed); or
? longer (e.g. because the rate of extraction is less than budgeted).
Tutorial note: An increase in actual output can be explained conversely.
■ A review of the results of management’s impairment testing of each rig (i.e. the cash-generating unit of which each
platform. is a part).
■ Recalculations of cash flow projections (based on reasonable and supportable assumptions) discounted at a suitable
pre-tax rate.
Tutorial note: As the rigs will not have readily determinable net selling prices (each one being unique and not available
for sale) any impairment will be assessed by a comparison of value in use against carrying amount.
■ Review of working papers of geologist/quantity surveyor(s) employed by Shire supporting estimations of reserves used
in the determination of useful lives of rigs.

正确答案：D

正确答案：
(ii) Corporate hospitality
A partner in an audit firm is obviously in a position to influence the conduct and outcome of an audit. Therefore a
partner being on ‘too friendly’ terms with an audit client creates a familiarity threat. Other members of the audit team
may not exert as much influence on the audit.
A self-interest threat may also be perceived (e.g. if corporate hospitality is provided to keep a prestigious client).
There is no absolute prohibition against corporate hospitality provided:
■ the value attached to such hospitality is ‘insignificant’; and
■ the ‘frequency, nature and cost’ of the hospitality is reasonable.
Thus, flying the directors of an audit client for weekends away could be seen as significant. Similarly, entertaining an
audit client on a regular basis could be seen as unacceptable.
Partners and staff of Boleyn will need to be objective in their assessments of the significance or reasonableness of the
hospitality offered. (Would ‘a reasonable and informed third party’ conclude that the hospitality will or is likely to be
seen to impair your objectivity?)
If they have any doubts they should discuss the matter in the first instance with the audit engagement partner, who
should refer the matter to the ethics partner if in doubt.

正确答案：
(b) Perfect Shopper currently has a relatively short upstream supply chain. They are bulk purchasers from established suppliers
of branded goods. Their main strength at the moment is to offer these branded goods at discounted prices to neighbourhood
shops that would normally have to pay premium prices for these goods.
In the upstream supply chain, the issue of branding is a significant one. At present, Perfect Shopper only provides branded
goods from established names to its customers. As far as the suppliers are concerned, Perfect Shopper is the customer and
the company’s regional warehouses are supplied as if they were the warehouses of conventional supermarkets. Perfect
Shopper might look at the following restructuring opportunities within this context:
– Examining the arrangements for the delivery of products from suppliers to the regional warehouses. At present this is in
the hands of the suppliers or contractors appointed by suppliers. It appears that when Perfect Shopper was established
it decided not to contract its own distribution. This must now be open to review. It is likely that competitors have
established contractual arrangements with logistics companies to collect products from suppliers. Perfect Shopper must
examine this, accompanied by an investigation into downstream distribution. A significant distribution contract would
probably include the branding of lorries and vans and this would provide an opportunity to increase brand visibility and
so tackle this issue at the same time.
– Contracting the supply and distribution of goods also offers other opportunities. Many integrated logistics contractors also
supply storage and warehousing solutions and it would be useful for Perfect Shopper to evaluate the costs of these.
Essentially, distribution, warehousing and packaging could be outsourced to an integrated logistics company and Perfect
Shopper could re-position itself as a primarily sales and marketing operation.
– Finally, Perfect Shopper must review how it communicates orders and ordering requirements with its suppliers. Their
reliance on supplier deliveries suggests that the relationship is a relatively straightforward one. There may be
opportunities for sharing information and allowing suppliers access to forecasted demand. There are many examples
where organisations have allowed suppliers access to their information to reduce costs and to improve the efficiency of
the supply chain as a whole.
The suggestions listed above assume that Perfect Shopper continues to only supply branded goods. Moving further upstream
in the supply chain potentially moves the company into the manufacture and supply of goods. This will raise a number of
significant issues about the franchise itself.
At present Perfect Shopper has, by necessity, concentrated on branded goods. It has not really had to understand how these
goods sell in specific locations because it has not been able to offer alternatives. The content of the standing order reflects
how the neighbourhood shop wishes to compete in its locality. However, if Perfect Shopper decides to commission its own
brand then the breadth of products is increased. Neighbourhood shops would be able to offer ‘own brand’ products to compete
with supermarkets who also focus on own brand products. It would also increase the visibility of the brand. However, Perfect
Shopper must be sure that this approach is appropriate as a whole. It could easily produce an own brand that reduces the
overall image of the company and hence devalues the franchise. Much more research is needed to assess the viability ofproducing ‘own brand’ goods.