ACCA考试的成绩什么时候出来？

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：
4 JINACK CO
(a) Auditor’s responsibilities for subsequent events
■ Auditors must consider the effect of subsequent events on:
– the financial statements;
– the auditor’s report.
■ Subsequent events are all events occurring after a period end (i.e. reporting date) i.e.:
– events after the balance sheet date (as defined in IAS 10); and
– events after the financial statements have been authorised for issue.
Events occurring up to date of auditor’s report
■ The auditor is responsible for carrying out procedures designed to obtain sufficient appropriate audit evidence that all
events up to the date of the auditor’s report that may require adjustment of, or disclosure in, the financial statements
have been identified.
■ These procedures are in addition to those applied to specific transactions occurring after the period end that provide
audit evidence of period-end account balances (e.g. inventory cut-off and receipts from trade receivables). Such
procedures should ordinarily include:
– reviewing minutes of board/audit committee meetings;
– scrutinising latest interim financial statements/budgets/cash flows, etc;
– making/extending inquiries to legal advisors on litigation matters;
– inquiring of management whether any subsequent events have occurred that might affect the financial statements
(e.g. commitments entered into).
■ When the auditor becomes aware of events that materially affect the financial statements, the auditor must consider
whether they have been properly accounted for and adequately disclosed in the financial statements.
Facts discovered after the date of the auditor’s report but before financial statements are issued
Tutorial note: After the date of the auditor’s report it is management’s responsibility to inform. the auditor of facts which
may affect the financial statements.
■ If the auditor becomes aware of such facts which may materially affect the financial statements, the auditor:
– considers whether the financial statements need amendment;
– discusses the matter with management; and
– takes appropriate action (e.g. audit any amendments to the financial statements and issue a new auditor’s report).
■ If management does not amend the financial statements (where the auditor believes they need to be amended) and the
auditor’s report has not been released to the entity, the auditor should express a qualified opinion or an adverse opinion
(as appropriate).
■ If the auditor’s report has been released to the entity, the auditor must notify those charged with governance not to issue
the financial statements (and the auditor’s report thereon) to third parties.
Tutorial note: The auditor would seek legal advice if the financial statements and auditor’s report were subsequently issued.
Facts discovered after the financial statements have been issued
■ The auditor has no obligation to make any inquiry regarding financial statements that have been issued.
■ However, if the auditor becomes aware of a fact which existed at the date of the auditor’s report and which, if known
at that date, may have caused the auditor’s report to be modified, the auditor should:
– consider whether the financial statements need revision;
– discuss the matter with management; and
– take appropriate action (e.g. issuing a new report on revised financial statements).

正确答案：
(c) Non-executive directors
Roles of NEDs
Non-executive directors have four principal roles.
The strategy role recognises that NEDs are full members of the board and thus have the right and responsibility to contribute
to the strategic success of the organisation for the benefit of shareholders. The enterprise must have a clear strategic direction
and NEDs should be able to bring considerable experience from their lives and business experience to bear on ensuring that
chosen strategies are sound. In this role they may challenge any aspect of strategy they see fit and offer advice or input to
help to develop successful strategy.
In the scrutinising or performance role, NEDs are required to hold executive colleagues to account for decisions taken and
company performance. In this respect they are required to represent the shareholders’ interests against the possibility that
agency issues arise to reduce shareholder value.
The risk role involves NEDs ensuring the company has an adequate system of internal controls and systems of risk
management in place. This is often informed by prescribed codes (such as Turnbull in the UK) but some industries, such as
chemicals, have other systems in place, some of which fall under ISO standards. In this role, NEDs should satisfy themselves
on the integrity of financial information and that financial controls and systems of risk management are robust and defensible.
Finally, the ‘people’ role involves NEDs overseeing a range of responsibilities with regard to the management of the executive
members of the board. This typically involves issues on appointments and remuneration, but might also involve contractual
or disciplinary issues and succession planning.
Tutorial note: these four roles are as described in the UK Higgs Report and are also contained in the Combined Code 2003.
Tensions in NED roles in the case
This refers to a potential tension in the loyalties of the NEDs. Although the NED is accountable, through the chairman to the
shareholders and thus must always act in the economic best interests of the shareholders, he or she is also a part of the board
of the company and they may, in some situations, advise discretion. Withholding information might be judged correct because
of strategic considerations or longer-term shareholder interests. In most situations, NEDs will argue for greater transparency,
less concealment and more clarity of how and why a given action will be in the interests of shareholders.
The case of mallerite overestimation places the WM NEDs in a position of some tension. Any instinct to conceal the full extent
of the overestimate of the reserve for the possible protection of the company’s short-term value must be balanced against the
duty to serve longer-term strategic interests and the public interest. Whilst concealment would protect the company’s
reputation and share price in the short term, it would be a duty of the NEDs to point out that WM should observe transparency
as far as possible in its dealing with the shareholders and other capital market participants.