ACCA考完后需要注册和继续教育吗？怎么操作？

正确答案：

正确答案：
6 CERTAIN PRACTICES
Tutorial note: The answer which follows is indicative of the range of points which might be made. Other relevant material will
be given suitable credit.
(a) ‘Lowballing’
Explanation of term
‘Lowballing’ is the ‘loss-leading’ practice in which auditors compete for clients by reducing their fees for statutory audits.
Lower audit fees are then compensated by the auditor carrying out more lucrative non-audit work (e.g. consultancy and tax
advice). Audits may even be offered for free.
Such ‘predatory pricing’ may undercut an incumbent auditor to secure an appointment into which higher price consultancy
services may be sold.
Ethical risks
There is a risk of incompetence if the non-audit work does not materialise and the lowballing firm comes under pressure to
cut corners or resort to irregular practices (e.g. the falsification of audit working papers) in order to ‘keep within budget’.
However, a lack of audit quality may only be discovered if the situation arises that the company collapses and the auditors
are charged with negligence.
If, rather than comprise the quality of the audit, an audit firm substantially increases audit fees, a fee dispute could arise. In
this case the client might refuse to pay the higher fee. It could be difficult then for the firm to take the matter to arbitration
if the client was misled. Thus an advocacy threat may arise.
Financial dependence is a direct incentive that threatens independence. A self-interest threat therefore arises when, having
secured the audit, the audit firm needs the client to retain its services in order to recoup any losses initially incurred.
The provision of many other services gives rise to a self-review threat (as well as a self-interest threat).
Sufficiency of current ethical guidance
In current ethical guidance, the fact that an accountancy firm quotes a lower fee than other tendering firms is not improper,
providing that the prospective client is not misled about:
– the precise range of services that the quoted fee is intended to cover; and
– the likely level of fees for any other work undertaken.
This is clearly insufficient to prevent the practice of lowballing.
Legal prohibitions on the provision of many non-audit services (e.g. bookkeeping, financial information systems design and
implementation, valuation services, actuarial services, internal audit (outsourced), human resource services for executive
positions, investment and legal services) should make lowballing a riskier pricing strategy. This may curb the tendency to
lowball.
Lowballing could be eliminated if, for example, auditors were required to act ‘exclusively as auditors’. Although regulatory
environments have moved towards this there is not a total prohibition on non-audit services.

正确答案：
(c) Impact on the audit of the financial statements
Tutorial note: The answer to this part should reflect that it is not the external auditor who is providing the internal audit
services. Thus comments regarding objectivity impairment are not relevant.
■ As Grey & Co is likely to be placing some reliance on RBG’s internal audit department in accordance with ISA 610
Considering the Work of Internal Auditing the degree of reliance should be reassessed.
■ The appointment will include an evaluation of organisational risk. The results of this will provide Grey with evidence,
for example:
– supporting the appropriateness of the going concern assumption;
– of indicators of obsolescence of goods or impairment of other assets.
■ As the quality of internal audit services should be higher than previously, providing a stronger control environment, the
extent to which Grey may rely on internal audit work could be increased. This would increase the efficiency of the
external audit of the financial statements as the need for substantive procedures should be reduced.
■ However, if internal audit services are performed on a part-time basis (e.g. fitting into the provider’s less busy months)
Grey must evaluate the impact of this on the prevention, detection and control of fraud and error.
■ The internal auditors will provide a body of expertise within RBG with whom Grey can consult on contentious matters.
Tutorial note: Appropriate credit will be given for arguing that less reliance may be placed on internal audit in this year of
change of provider.