ACCA考试F8模拟题：Audit procedures and sampling
发布时间：2019-01-04
Question：An individual or organisation having expertise in a field other than auditing or accounting, whose work in that field is used by the entity to assist the entity in preparing the financial statements is known as:
A.An auditor's internal expert
B.An expert valuer
C.An auditor's external expert
D.Management's expert
The correct answer is: Management's expert
Management's expert is an individual or
organisation having expertise in a field other than auditing or accounting,
whose work in that field is used by the entity to assist the entity in preparing
the financial statements.
An auditor's expert is an individual or
organisation who has expertise in a field other than auditing or accounting,
whose work in that field is used by the auditor to assist the auditor in
obtaining sufficient appropriate audit evidence. An auditor's expert may be an
auditor's internal expert (partner or staff,including temporary staff, of the
auditor's firm or network firm) or an auditor's external expert.
Valuers are not the only experts used by
management or the auditor.
下面小编为大家准备了 ACCA考试 的相关考题，供大家学习参考。
(c) Identify TWO QUALITATIVE benefits that might arise as a consequence of the investment in a new IT system
and explain how you would attempt to assess them. (4 marks)
(c) One of the main qualitative benefits that may arise from an investment in a new IT system by Moffat Ltd is the improved level
of service to its customers in the form. of reduced waiting times which may arise as a consequence of better scheduling of
appointments, inventory management etc. This could be assessed via the introduction of a questionnaire requiring customers
to rate the service that they have received from their recent visit to a location within Moffat Ltd according to specific criteria
such as adherence to appointment times, time taken to service the vehicle, cleanliness of the vehicle, attitude of staff etc.
Alternatively a follow-up telephone call from a centralised customer services department may be made by Moffat Ltd
personnel in order to gather such information.
Another qualitative benefit of the proposed investment may arise in the form. of competitive advantage. Improvements in
customer specific information and service levels may give Moffat Ltd a competitive advantage. Likewise, improved inventory
management may enable costs to be reduced thereby enabling a ‘win-win’ relationship to be enjoyed with its customers.
(b) Advise Maureen on deregistration for the purposes of value added tax (VAT) and any possible alternative
strategy. (8 marks)
An additional mark will be awarded for the effectiveness with which the information is communicated.
(1 mark)
(b) Advice on Maureen’s VAT position
Deregistration
In order to voluntarily deregister for VAT you must satisfy HMRC that the value of your taxable supplies in the next twelve
months will not exceed ￡62,000. You will then be deregistered with effect from the date of your request or a later date as
agreed with HMRC.
On deregistering you are regarded as making a supply of all stocks and equipment in respect of which input tax has been
claimed. However, the VAT on this deemed supply need only be paid to HMRC if it exceeds ￡1,000.
Once you have deregistered, you must no longer charge VAT on your sales. You will also be unable to recover the input tax
on the costs incurred by your business. Instead, the VAT you pay on your costs will be allowable when computing your taxable
profits.
You should monitor your sales on a monthly basis; if your sales in a twelve-month period exceed ￡64,000 you must notify
HMRC within the 30 days following the end of the twelve-month period. You will be registered from the end of the month
following the end of the twelve-month period.
Flat rate scheme
Rather than deregistering you may wish to consider operating the flat rate scheme. This would reduce the amount of
administration as you would no longer need to record and claim input tax in respect of the costs incurred by your business.
Under the flat rate scheme you would continue to charge your customers VAT in the way that you do at the moment. You
would then pay HMRC a fixed percentage of your VAT inclusive turnover each quarter rather than calculating output tax less
input tax. This may be financially advantageous as compared with deregistering; I would be happy to prepare calculations for
you if you wish.
(ii) Division C is considering a decision to lower its selling price to customers external to the group to $95
per kilogram. If implemented, this decision is expected to increase sales to external customers to
70,000 kilograms.
Required:
For BOTH the current selling price of CC of $105 per kilogram and the proposed selling price of $95
per kilogram, prepare a detailed analysis of revenue, costs and net profits of BAG.
Note: in addition, comment on other considerations that should be taken into account before this selling
price change is implemented. (6 marks)
1 Oliver Hoppe has been working at Hoopers and Henderson accountancy practice for eighteen months. He feels that
he fits in well, especially with his colleagues and has learnt a lot from them. However, he feels that the rules and
regulations governing everyday activities and time keeping are not clear.
Oliver does not get on well with his line manager, David Morgan. There appears to be a clash of personalities and
reluctance on David Morgan’s part to deal with the icy atmosphere between them after David was asked by one of
the accounting partners to give Oliver a job. For the past three months Oliver has gone to lunch with his fellow workers
and always returned to work with them or before them. In fact they all have returned to work about ten minutes late
on several previous occasions. After the third time, Oliver was called into David Morgan’s office and given an oral
warning about his time keeping.
Oliver was not permitted to argue his case and none of the other staff who returned late were disciplined in this way.
On the next occasion the group was late returning from lunch, David Morgan presented Oliver with a written warning
about his time keeping.
Yesterday, Oliver was five minutes late returning to work. His colleagues returned after him. David Morgan gave Oliver
notice and told him to work until the end of the week and then collect his salary, the necessary paperwork and to
leave the practice.
There is a partner responsible for human resources. Oliver has come to see the partner to discuss the grievance
procedures against David Morgan for his treatment and about what Oliver regards as unfair dismissal.
Required:
(a) Describe the six stages of a formal disciplinary procedure that an organisation such as Hoopers and
Henderson should have in place. (12 marks)
1 Overview
A grievance occurs when an individual thinks that he or she has been wrongly treated by colleagues or management, especially
in disciplinary matters. An unresolved feeling of grievance can often lead to further problems for the organisation. The purpose of
procedures is to resolve disciplinary and grievance issues to the satisfaction of all concerned and as early as possible.
If a grievance perceived by an employee is not resolved, then conflict and discontent can arise that will affect the work of the
individual and the organisation. Accountants as managers need to be aware of the need to resolve grievances satisfactorily and
professionally.
The fundamental basis of organisational disciplinary and grievance procedures is that they must be explicitly clear and accessible
to all.
Part (a):
An official and correctly applied disciplinary procedure has six steps which should be followed in the correct order and applied
equitably.
The Informal Talk.
This is the first step. If the disciplinary matter is of a minor nature and the individual has had until this occasion a good record,
then an informal meeting can often resolve the issue.
Reprimand or Oral Warning.
Here the manager draws the attention of the employee to unsatisfactory behaviour, a repeat of which could lead to formal
disciplinary proceedings.
Official or Written Warning.
A written warning is a serious matter. It draws the attention of the offending employee to a serious breach of conduct and remains
a recorded document on the employee’s employment history.
Such written documents can be used as evidence if further action is taken, especially dismissal.
Suspension or Lay-off.
If an offence is of a serious nature, if the employee has repeated an earlier offence or if there have been repeated problems then
an employee may be suspended from work for a period of time without pay.
Demotion.
This is a situation where an employee is demoted to a lower salary or position within an organisation. This is a very serious step
to take and can be regarded as a form. of internal dismissal. This course of action can have negative repercussions because the
employee concerned will feel dissatisfied and such feelings can affect their own work and that of others.
Dismissal.
This is the ultimate disciplinary measure and should be used only in the most extreme cases. As with demotion, the dismissal of
a staff member can lead to wider dissatisfaction amongst the employees.
The employee may nominate a representative at any stage of the procedure, especially at the more serious stages.
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