ACCA考试首次报名人员材料审核时间和要求

正确答案：

 

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.

正确答案：
(b) (i) UK tax on the rental income
Coral is UK resident in 2007/08 because she is present in the UK for more than 182 days. Accordingly, she will be
subject to UK income tax on her Kalanian rental income.
Coral is ordinarily resident in the UK in 2007/08 as she is habitually resident in the UK.
Coral will have acquired a domicile of origin in Kalania from her father. She has not acquired a domicile of choice in the
UK as she has not severed her ties with Kalania and does not intend to make her permanent home in the UK.
Accordingly, the rental income will be taxed in the UK on the remittance basis.
Any rental income remitted to the UK will fall into the basic rate band and will be subject to income tax at 22% on the
gross amount (before deduction of Kalanian tax). Unilateral double tax relief will be available in respect of the 8% tax
suffered in Kalania such that the effective rate of tax suffered by Coral in the UK on the grossed up amount of income
remitted will be 14%.
In order to minimise the total income tax suffered on the rental income Coral should ensure that it is not brought into or
used in the UK such that it will not be subject to income tax in the UK.
Coral should retain evidence, for example bank statements, to show that the rental income has not been removed from
Kalania. Coral can use the money whilst she is on holiday in Kalania with no UK tax implications.

正确答案：
(b) Share option scheme
The scheme that is best suited to Happy Home Limited is the enterprise management incentive (EMI) scheme. This share
option scheme is aimed at small fast growing companies, and because the potential risks are considered to be higher, the
available rewards are greater.
To qualify, the company must be a trading company, carrying out a qualifying trade in the United Kingdom, with gross assets
no more than ￡30m. The company must not be under the control of another company.
A qualifying company can grant each employee unexercised options over shares worth up to ￡100,000 per employee subject
to a total overall limit of unexercised options of ￡3 million. The options must be granted for commercial reasons to recruit and
retain the employee(s).
A qualifying employee is one who works on average 25 hours per week or 75% of their working time and who does not
(together with his/her associates) have a material interest in the company.
No income tax or national insurance is charged on either the grant or the exercise of the option provided that the option is
exercised not more than 10 years from the date of the grant and the amount paid is not less than the market value of the
shares at the time the option was granted.
On the sale of the shares, capital gains tax will apply, but business asset taper relief is available. Also in this case, the taper
relief starts from the date the option is granted and not from the date of exercise, as is the case with other option schemes.