新疆考生：ACCA考试怎么样才算成功正确的打印了准考证呢？

正确答案：
(b) There are several issues that must be addressed as a matter of urgency:
Extra work must be planned to discover the extent of the breakdown in internal controls that occurred during the year. It is
important to decide whether the errors were isolated, or continued through the accounting period and whether similar errors
have occurred in other areas e.g. cash receipts from existing customers or cash payments. A review of the working papers of
the internal audit team should be carried out as soon as possible. The materiality of the errors should be documented.
Errors discovered in the accounting systems will have serious implications for the planned audit approach of new customer
deposits. Nate & Co must plan to expand audit testing on this area as control risk is high. Cash deposits will represent a
significant class of transaction in CF Co. A more detailed substantive approach than used in prior year audits may be needed
in this material area if limited reliance can be placed on internal controls.
A combination of the time spent investigating the reasons for the errors, their materiality, and a detailed substantive audit on
this area means that the audit is likely to take longer than previously anticipated. This may have cost and recoverability
implications. Extra staff may need to be assigned to the audit team, and the deadline for completion of audit procedures may
need to be extended. This will need to be discussed with CF Co.
Due to the increased audit risk, Nate & Co should consider increasing review procedures throughout the audit. In addition CF
Co is likely to be a highly regulated company as it operates in financial services, increasing possible attention focused on the
audit opinion. These two factors indicate that a second partner review would be recommended.
A separate issue is that of Jin Sayed offering advice to the internal audit team. The first problem raised is that of quality control.
A new and junior member of the audit team should be subject to close direction and supervision which does not appear to
have been the case during this assignment.
Secondly, Jin Sayed should not have offered advice to the internal audit team. On being made aware of the errors, he should
have alerted a senior member of the audit team, who then would have decided the action to be taken. This implies that he
does not understand the limited extent of his responsibilities as a junior member of the audit team. Nate & Co may wish to
review the training provided to new members of staff, as it should be made clear when matters should be reported to a senior,
and when matters can be dealt with by the individual.
Thirdly, Jin Sayed must be questioned to discover what exactly he advised the internal audit team to do. Despite his academic
qualification, he has little practical experience in the financial information systems of CF Co. He may have given inappropriate
advice, and it will be crucial to confirm that no action has been taken by the internal audit team.
The audit partner should consider if Nate & Co are at risk because of the advice that has been provided by Jin Sayed. As he
is a member of the audit team, his advice would be considered by the client as advice offered by Nate & Co, and the partner
should ascertain by discussion with the client whether this advice has been acted upon.
Finally Nate & Co should consider whether as a firm they could provide the review of the financial information technology
system, as requested by CF Co. IFAC’s Code of Ethics, and ACCA’s Code of Ethics and Conduct places restrictions on the
provision of non-audit services. Nate & Co must be clear in what exactly the ‘review’ will involve.
Providing a summary of weaknesses in the system, with appropriate recommendations is considered part of normal audit
procedures. However, given the errors that have arisen in the year, CF Co may require Nate & Co to design and implement
changes to the system. This would constitute a self-review threat and should only be considered if significant safeguards are
put in place, for example, using a separate team to provide the non-audit service and/or having a second partner review of
the work.

正确答案：

 

正确答案：
(a) (i) Individual salesmen
The taxable benefit is determined by the list price of the vehicle plus the cost of the accessories (￡20,000) and the CO2
emission rate. The current vehicles have a CO2 emission rate of 168 grams/kilometre, so the benefit will be calculated
at the rate of 20% ((168 – 140)/5 + 15), resulting in a total annual car and car fuel benefit charge of ￡6,880 (20,000
x 20% + 14,400 x 20%). The low emission vehicles will be chargeable at the basic percentage rate of 15% resulting
in a total annual car and fuel benefit charge of ￡5,160 (20,000 x 15% + 14,400 x 15%). The salesmen will thus
make an annual income tax saving at their marginal rate of tax, i.e. ￡378 (1,720 x 22%) if they are basic rate taxpayers
and ￡688 (1,720 x 40%) if they are higher rate taxpayers.
Linden Limited
The current vehicles will be classed as ‘expensive’ cars based on the discounted list price plus the cost of the accessories
of ￡18,824 (19,600 x 94% + 400). The annual writing down allowances will thus be restricted to ￡3,000 throughout
the period of ownership, but there will be no restriction of the balancing allowance available on disposal. The low
emission vehicles will be eligible for a 100% first year allowance of ￡19,020 (19,600 x 95% + 400), but there will
also be a balancing charge on disposal equivalent to the sales proceeds. Therefore, the total of the allowances available
over the life of the cars will be effectively the same in both cases. As a single company with taxable profits of
￡1·4 million, Linden Limited will pay corporation tax at the small companies marginal rate of 32·75% in the year to
31 July 2007, giving a tax benefit in that year of ￡5,247 for each low emission car purchased ((19,020 – 3,000) x
32·75%).
The company will also make an annual saving in terms of the Class 1A national insurance contributions payable on the
salesmen’s benefits of ￡220 ((6,880 – 5,160) x 12·8%). But, as these Class 1A contributions are deductible for
corporation tax, the net saving will only be ￡205 (220 x (100 – 32·75)%).
As the VAT liability payable on the provision of private fuel is based on engine capacity (not the CO2 emission rate) this
will not necessarily be affected.

正确答案：
5 Dexter Co
(a) Responsibilities of management and auditors
Responsibilities
ISA 570 Going Concern provides a clear framework for the assessment of the going concern status of an entity, and
differentiates between the responsibilities of management and of auditors. Management should assess going concern in order
to decide on the most appropriate basis for the preparation of the financial statements. IAS 1 Presentation of Financial
Statements (revised) requires that where there is significant doubt over an entity’s ability to continue as a going concern, the
uncertainties should be disclosed in a note to the financial statements. Where the directors intend to cease trading, or have
no realistic alternative but to do so, the financial statements should be prepared on a ‘break up’ basis.
Thus the main focus of the management’s assessment of going concern is to ensure that relevant disclosures are made where
necessary, and that the correct basis of preparation is used.
The auditor’s responsibility is to consider the appropriateness of the management’s use of the going concern assumption in
the preparation of the financial statements and to consider whether there are material uncertainties about the entity’s ability
to continue as a going concern that need to be disclosed in a note.
The auditor should also consider the length of the time period that management have looked at in their assessment of going
concern.
The auditor will therefore need to come to an opinion as to the going concern status of an entity but the focus of the auditor’s
evaluation of going concern is to see whether they agree with the assessment made by the management. Therefore whether
they agree with the basis of preparation of the financial statements, or the inclusion in a note to the financial statements, as
required by IAS 1, of any material uncertainty.
Evaluation techniques
In carrying out the going concern assessment, management will evaluate a wide variety of indicators, including operational
and financial. An entity employing good principles of corporate governance should be carrying out such an assessment as
part of the on-going management of the business.
Auditors will use a similar assessment technique in order to come to their own opinion as to the going concern status of an
entity. They will carry out an operational review of the business in order to confirm business understanding, and will conduct
a financial review as part of analytical procedures. Thus both management and auditors will use similar business risk
assessment techniques to discover any threats to the going concern status of the business.
Auditors should not see going concern as a ‘completion issue’, but be alert to issues affecting going concern throughout the
audit. In the same way that management should continually be managing risk (therefore minimising going concern risk),
auditors should be continually be alert to going concern problems throughout the duration of the audit.
However, one difference is that when going concern problems are discovered, the auditor is required by IAS 570 to carry out
additional procedures. Examples of such procedures would include:
– Analysing and discussing cash flow, profit and other relevant forecasts with management
– Analysing and discussing the entity’s latest available interim financial statements
– Reviewing events after the period end to identify those that either mitigate or otherwise affect the entity’s ability to
continue as a going concern, and
– Reading minutes of meetings of shareholders, those charged with governance and relevant committees for reference to
financing difficulties.
Management are not explicitly required to gather specific evidence about going concern, but as part of good governance would
be likely to investigate and react to problems discovered.