2020年ACCA考试：会计师与企业基础练习题(4)

正确答案：
(b) David even at this early stage needs to identify the critical success factors and related performance indicators that will show
that the concept is turning into a business reality. Many of the success factors will be linked to customer needs and
expectations and therefore where David’s business must excel in order to outperform. the competition. As an innovator one of
the critical success factors will be the time taken to develop and launch the new vase. Being first-to-market will be critical for
success. His ability to generate sales from demanding corporate customers will be a real indicator of that success. David will
need to ensure that he has adequate patent protection for the product and recognise that it will have a product life cycle.
There look to be a number of alternative markets and the ability to customise the product may be a CSF. Greiner indicates
the different stages a growing business goes through and the different problems associated with each stage. One of David’s
key problems will be to decide what type of business he wants to be. From the scenario it looks as if he is aiming to carry
out most of the functions himself and there is a need to decide what he does and what he gets others to do for him. Indeed
the skills he has may be as an innovator rather than as someone who carries out manufacture, distribution, etc. Gift Designs
may develop most quickly as a firm that creates new products and then licences them to larger firms with the skills to
penetrate the many market opportunities that are present. It is important for David to recognise that turning the product
concept into a viable and growing business may result in a business and a business model very different to what he
anticipated. Gift Designs needs to have the flexibility and agility to take advantage of the opportunities that will emerge over
time.

正确答案：
(c) Application of ethical principles to a fraud investigation
IFAC’s Code of Ethics for Professional Accountants applies to all ACCA members involved in professional assignments,
including forensic investigations. There are specific considerations in the application of each of the principles in providing
such a service.
Integrity
The forensic investigator is likely to deal frequently with individuals who lack integrity, are dishonest, and attempt to conceal
the true facts from the investigator. It is imperative that the investigator recognises this, and acts with impeccable integrity
throughout the whole investigation.
Objectivity
As in an audit engagement, the investigator’s objectivity must be beyond question. The report that is the outcome of the
forensic investigation must be perceived as independent, as it forms part of the legal evidence presented at court. The
investigator must adhere to the concept that the overriding objective of court proceedings is to deal with cases fairly and justly.
Any real or perceived threats to objectivity could undermine the credibility of the evidence provided by the investigator.
This issue poses a particular problem where an audit client requests its auditors to conduct a forensic investigation. In this
situation, the audit firm would be exposed to threats to objectivity in terms of advocacy, management involvement and selfreview.
The advocacy threat arises because the audit firm may feel pressured into promoting the interests and point of view
of their client, which would breach the overriding issue of objectivity in court proceedings. Secondly, the investigators could
be perceived to be involved in management decisions regarding the implications of the fraud, especially where the investigator
acts as an expert witness. It is however the self-review threat that would be the most significant threat to objectivity. The selfreview
threat arises because the investigation is likely to involve the estimation of an amount (i.e. the loss), which could be
material to the financial statements.
For the reasons outlined above, The Code states that the firm should evaluate threats and put appropriate safeguards in place,
and if safeguards cannot reduce the threats to an acceptable level, then the firm cannot provide both the audit service and
the forensic investigation.
Professional competence and due care
Forensic investigations will involve very specialist skills, which accountants are unlikely to possess without extensive training.
Such skills would include:
– Detailed knowledge of the relevant legal framework surrounding fraud,
– An understanding of how to gather specialist evidence,
– Skills in the safe custody of evidence, including maintaining a clear ‘chain’ of evidence, and
– Strong personal skills in, for example, interview techniques, presentation of material at court, and tactful dealing with
difficult and stressful situations.
It is therefore essential that forensic work is only ever undertaken by highly skilled individuals, under the direction and
supervision of an experienced fraud investigator. Any doubt over the competence of the investigation team could severely
undermine the credibility of the evidence presented at court.
Confidentiality
Normally accountants should not disclose information without the explicit consent of their client. However, during legal
proceedings arising from a fraud investigation, the court will require the investigator to reveal information discovered during
the investigation. There is an overriding requirement for the investigator to disclose all of the information deemed necessary
by the court.
Outside of the court, the investigator must ensure faultless confidentiality, especially because much of the information they
have access to will be highly sensitive.
Professional behaviour
Fraud investigations can become a matter of public interest, and much media attention is often focused on the work of the
forensic investigator. A highly professional attitude must be displayed at all times, in order to avoid damage to the reputation
of the firm, and of the profession. Any lapse in professional behaviour could also undermine the integrity of the forensic
evidence, and of the credibility of the investigator, especially when acting in the capacity of expert witness.
During legal proceedings, the forensic investigator may be involved in discussions with both sides in the court case, and here
it is essential that a courteous and considerate attitude is presented to all parties.

正确答案：
(b) The contributions payable by Savage to the trustees will not count as an asset for the purposes of the valuation of the fund.
IAS19 (paragraph 103) states that plan assets should not include unpaid contributions due from the reporting entity to the
fund. Thus in the financial statements of Savage the contributions would be shown as an amount payable to the trustees
and there may be legal repercussions if the amount is not paid within a short period of time. Following the introduction of
changes to a defined benefit plan, a company should recognise immediately past service costs where the benefit has vested.
In the case where the benefits have not vested then the past service costs will be recognised as an expense over the averageperiod until the benefits vest. The company will therefore recognise $125 million at 1 November 2004.

正确答案：
(c) Companies can give the impression that they are generating more cash than they are, by manipulating cash flow. The way
in which acquisitions, loans and, as in this case, the sale of assets, is shown in the statement of cash flows, can change the
nature of operating cash flow and hence the impression given by the financial statements. The classification of cash flows
can give useful information to users and operating cash flow is a key figure. The role of ethics in the training and professional
lives of accountants is extremely important. Decision-makers expect the financial statements to be true and fair and fairly
represent the underlying transactions.
There is a fine line between deliberate misrepresentation and acceptable presentation of information. Pressures on
management can result in the misrepresentation of information. Financial statements must comply with International
Financial Reporting Standards (IFRS), the Framework and local legislation. Transparency, and full and accurate disclosure is
important if the financial statements are not to be misleading. Accountants must possess a high degree of professional
integrity and the profession’s reputation depends upon it. Ethics describe a set of moral principles taken as a reference point.
These principles are outside the technical and practical application of accounting and require judgement in their application.
Professional accountancy bodies set out ethical guidelines within which their members operate covering standards of
behaviour, and acceptable practice. These regulations are supported by a number of codes, for example, on corporate
governance which assist accountants in making ethical decisions. The accountant in Warrburt has a responsibility not to mask
the true nature of the statement of cash flow. Showing the sale of assets as an operating cash flow would be misleading if
the nature of the transaction was masked. Users of financial statements would not expect its inclusion in this heading and
could be misled. The potential misrepresentation is unacceptable. The accountant should try and persuade the directors to
follow acceptable accounting principles and comply with accounting standards. There are implications for the truth and
fairness of the financial statements and the accountant should consider his position if the directors insist on the adjustments
by pointing the inaccuracies out to the auditors.