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正确答案：
(a) Of vital importance is the need for reliable information on which to base the decision regarding the potential investment within
Tomorrowland, since the lack of such information will only serve to increase the risk profile of GHG.
The strategic factors that ought to be considered prior to a decision being made to build and operate a hotel in Tomorrowland
are as follows:
The competition
The key notion here is that of the position of GHG relative to its competitors who may have a presence or intend to have a
presence in Tomorrowland. The strategic management accounting system should be capable of coping with changes that can
and will inevitably occur in a dynamic business environment. Hence it is crucial that changes such as, the emergence of a
new competitor, are detected and reflected within strategic plans at the earliest opportunity.
The government
The attitude of the government of Tomorrowland towards foreign organisations requires careful consideration as inevitably the
government will be the country’s largest supplier, employer, customer and investor. The directors need to recognise that the
political environment of Tomorrowland could change dramatically with a change in the national government.
Planning and control of operations within Tomorrowland
Planning and control of operations within Tomorrowland will inevitably be more difficult as GHG might not possess sufficient
knowledge of the business environment within Tomorrowland. Indeed their nearest hotel is at least 3,000 kilometres away.
It is vital the GHG gain such knowledge prior to commencing operations within Tomorrowland in order to avoid undue risks.
The sociological–cultural constraints
While it is generally recognised that there is a growing acceptability of international brands this might not be the case with
regard to Tomorrowland. The attitude towards work, managers (especially foreign nationals) and capitalist organisations could
severely impact on the degree of success achieved within Tomorrowland. In this respect it is vital that consideration is given
to recognition of the relationships in economic life including demand, price, wages, training, and rates of labour turnover and
absenteeism.
Resource utilisation
A primary consideration relates to whether or not to use local labour in the construction of the hotel. The perceived
‘remoteness’ of Tomorrowland might make it an unattractive proposition for current employees of GHG, thereby presenting the
directors of GHG with a significant problem.
Communication
Consideration needs to be given to the communication problems that arise between different countries and in this respect
Tomorrowland is probably no exception. Language barriers will inevitably exist and this needs to be addressed at the earliest
opportunity to minimise any risks to GHG.
The economic factors that ought to be considered prior to a decision being made to build and operate a hotel in Tomorrowland
are as follows:
Resource availability
The hotel should be designed having given due consideration to the prevailing climatic conditions within Tomorrowland which
might necessitate the use of specific types of building materials. It might well be the case that such building materials are not
available locally, or are in such scarce supply in which case local supply would prove to be uneconomic.
Another consideration relates to local labour being available and reliable in terms of its quality.
Currency stability/restrictions
The stability of the currency within Tomorrowland assumes critical significance because profit repatriation is problematic in
situations where those profits are made in an unstable currency or one that is likely to depreciate against the home currency,
thereby precipitating sizeable losses on exchange. Any currency restrictions need to be given careful consideration. For
example, it might be the case that hotel guests would be prohibited from paying accommodation bills in a foreign currency
which would be problematic if the local currency was weak.
Legislation
All local and International legislation should be given careful consideration. It might be the case that local legislation via
various licences or legal requirements favour local hotels.
Demand
The potential demand within Tomorrowland will be linked to the local economy. It is a developing economy and this may
bode well for GHG. However, again the need for reliable information about the size of the market, the extent of competition,
likely future trends etc is of fundamental importance.
Financing
An important decision lies in the availability and associated costs of financing in Tomorrowland which might not have mature
enough capital markets due to its developmental state. Hence GHG might need to finance using alternative currencies.
Note: Other relevant comments would be acceptable.

正确答案：
(b) Principal matters to be included in submission to provide internal audit services
■ Introduction/background – details about York including its organisation (of functions), offices (locations) and number of
internal auditors working within each office. The office that would be responsible for managing the contract should be
stated.
■ A description of York’s services most relevant to RBG’s needs (e.g. in the areas of risk management, IT audits, value for
money (VFM) and corporate governance).
■ Client-specific issues identified. For example, revenue audits will be required routinely for control purposes and to
substantiate the contingent rents due. Other areas of expertise that RBG may be interested in taking advantage of, for
example, special projects such as acquisitions and mergers.
■ York’s approach to assessing audit needs including the key stages and who will be involved. For example:
(1) Preliminary – review of business, industry and the entity’s operating characteristics
(2) Planning – including needs analysis and co-ordination with external audit plan
(3) Post-Audit – assurance that activities were effectively and efficiently executed
(4) Review – of services provided, reports issued and management’s responses.
■ A description of internal audit tools used and methodologies/approach to audit fieldwork including use of embedded
audit software and programs developed by York.
■ A description of York’s systems-based audit, the IT issues to be addressed and the technological support that can be
provided.
■ Any training that will be offered to RBG’s managers and staff, for example, in a risk management approach.
■ A description and quantity of resources, in particular the number of full-time staff, to be deployed in providing services
to RBG. An outline of RBG’s track record in human resource retention and development.
■ Relevant experience – e.g. in internal and external audit in the retail industry. The relative qualifications and skills of
each grade of audit staff and the contract manager in particular.
■ Insurance certifications covering, for example, public liability and professional indemnity insurance.
■ Work ethic policies relating to health and safety, equal opportunities’ and race relations.
■ How York ensures quality throughout the internal audit process including standards to be followed (e.g. Institute of
Internal Auditors’ standards).
■ Sample report templates – e.g. for reporting the results of risk analysis, audit plans and quarterly reporting of findings
to the Audit and Risk Management Committee.
■ Current clients to whom internal audit services are provided from whom RBG will be able to take up references, by
arrangement, if York is short-listed.
■ Any work currently carried out/competed for that could cause a conflict of interest (and the measures to avoid such
conflicts).
■ Fees (daily rates) for each grade of staff and travel and other expenses to be reimbursed. An indication of price increases,
if any, over the three-year contract period. Invoicing terms (e.g. on presentation of reports) and payment terms (e.g. the
end of the month following receipt of the invoice).
■ Performance targets to be met such as deadlines for completing work and submitting and issuing reports.

正确答案：
(d) (i) The main reason why it may not be possible to provide a high level of assurance is that the KPIs are not defined
precisely:
– The value of donated pharmaceutical products is compared to revenue to provide a percentage. However, it will be
difficult to accurately value the donated products – are they valued at cost, or at sales price? Are delivery costs
included in the valuation? The intrinsic value may be lower than sales value as Sci-Tech Co may decide to donate
products which are not useful or relevant to the charities they are donated to.
– The value of ‘cost of involvement with local charities’ is also not defined. If the donations are purely cash, then it
should be easy to verify donations using normal audit procedures to verify cash payments. However, the
‘involvement with local charities’ is not defined and will be difficult to quantify as a percentage of revenue. For
example, involvement may include:
? Time spent by Sci-Tech Co employees at local charity events
? Education and training provided to members of the local community in health care matters
– Number of serious accidents is also difficult to quantify as what constitutes a ‘serious’ accident is subjective. For
example, is an accident serious if it results in a hospitalisation of the employee? Or serious if it results in more than
five days absence from work while recovering?
In addition, the sufficiency of evidence available is doubtful, as such matters will not form. part of the accounting records
and thus there may be limited and possibly only unreliable sources of evidence available.
– Donated goods may not be separately recorded in inventory movement records. It may not be possible to
distinguish donated goods from sold or destroyed items.
– Unless time sheets are maintained, there is unlikely to be any detailed records of ‘involvement’ in local charities.

正确答案：