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A、to explain, document, and control behavior
B、to control and influence behavior
C、to explain, predict, and influence behavior
D、to predict, understand, and document behavior
What is the main reason for woman's talk？
A．To describe her vision for the future
B．To announce a shift in business strategy
C．To explain why the budget has been increased
D．To express support for a proposed partnership
(a) You are an audit manager in Weston & Co which is an international firm of Chartered Certified Accountants with branches in many countries and which offers a range of audit and assurance services to its clients. Your responsibilities include reviewing ethical matters which arise with audit clients, and dealing with approaches from prospective audit clients.
The management of Jones Co has invited Weston & Co to submit an audit proposal (tender document) for their consideration. Jones Co was established only two years ago, but has grown rapidly, and this will be the first year that an audit is required. In previous years a limited assurance review was performed on its financial statements by an unrelated audit firm. The company specialises in the recruitment of medical personnel and some of its start up funding was raised from a venture capital company. There are plans for the company to open branches overseas to help recruit personnel from foreign countries.
Jones Co has one full-time accountant who uses an off-the-shelf accounting package to record transactions and to prepare financial information. The company has a financial year ending 31 March 2015.
The following comment was made by Bentley Jones, the company’s founder and owner-manager, in relation to the audit proposal and potential audit fee:
‘I am looking for a firm of auditors who will give me a competitive audit fee. I am hoping that the fee will be quite low, as I am willing to pay more for services that I consider more beneficial to the business, such as strategic advice. I would like the audit fee to be linked to Jones Co’s success in expanding overseas as a result of the audit firm’s advice. Hopefully the audit will not be too disruptive and I would like it completed within four months of the year end.’
Required:
(i) Explain the specific matters to be included in the audit proposal (tender document), other than those relating to the audit fee; and (8 marks)
(ii) Assuming that Weston & Co is appointed to provide the audit service to Jones Co, discuss the issues to be considered by the audit firm in determining a fee for the audit including any ethical matters raised. (6 marks)
(b) Ordway Co is a long-standing audit client of your firm and is a listed company. Bobby Wellington has acted as audit engagement partner for seven years and understands that a new audit partner needs to be appointed to take his place. Bobby is hoping to stay in contact with the client and act as the engagement quality control reviewer in forthcoming audits of Ordway Co.
Required:
Explain the ethical threats raised by the long association of senior audit personnel with an audit client and the relevant safeguards to be applied, and discuss whether Bobby Wellington can act as engagement quality control reviewer in the future audits of Ordway Co. (6 marks)
LYCOS PHONE
Welcome
Thank you for making LYCOS PHONE your choice of cellular phone while you travel. LYCOS PHONE has provided you with friendly service and easy-to-use equipment for many years. You will enjoy the excellent service and experience the convenience and security of our products.
Your Call Costs
You are responsible for all calls made from this phone. It is advisable to keep the keypad locked to avoid making calls by mistake when the phone is in a pocket or in a handbag. The detailed rate sheet for all service regions in the world is enclosed.
Questions or Problems
If you have a problem making or receiving calls, first refer to the enclosed trouble-shooting guide. You can resolve most of the problems by doing that. If you still have trouble, you can contact our customer support center.
Lost or Stolen
In the event your phone is lost or stolen, you should call our 24-hour,
7-day-a-week hotline at 919-686-1010 immediately and report the problem.
Remember: you are responsible for any calls made from this phone.
Billing
When the phone is returned to us, all the call data is collected from the network carriers and then processed. The whole process will take 5-6 weeks.
What is the purpose of this document？
A．To explain how to make a long distance call
B．To outline services of a cell phone provider
C．To illustrate the problems related to using a phone overseas
D．To provide a trouble-shooting service
Recounting that anecdote to journalists in New York this week, Mr. Annan sought to explain why a draft declaration on UN reform. and tackling world poverty, due to be endorsed by some 150 heads of state and government at a world summit in the city on September 14th-16th, had turned into such a pale shadow of the proposals that he himself had put forward in March. "With 191 member states", he sighed, "it's not easy to get an agreement".
Most countries put the blame on the United States, in the form. of its abrasive new ambassador, John Bolton, for insisting at the end of August on hundreds of last-minute amendments and a line-by-line renegotiation of a text most others had thought was almost settled. But a group of middle-income developing nations, including Pakistan, Cuba, Iran, Egypt, Syria and Venezuela, also came up with plenty of last-minute changes of their own. The risk of having no document at all, and thus nothing for the world's leaders to come to New York for, was averted only by marathon all-night and all-weekend talks.
The 35-page final document is not wholly devoid of substance. It calls for the creation of a Peacebuilding Commission to supervise the reconstruction of countries after wars; the replacement of the discredited UN Commission on Human Rights by a supposedly tougher Human Rights Council; the recognition of a new "responsibility to protect" peoples from genocide and other atrocities when national authorities fail to take action, including, if necessary, by force; and an "early" reform. of the Security Council. Although much pared down, all these proposals have at least survived.
Others have not. Either they proved so contentious that they were omitted altogether, such as the sections on disarmament and non-proliferation and the International Criminal Court, or they were watered down to little more than empty platitudes. The important section on collective security and the use of force no longer even mentions the vexed issue of pre-emptive strikes; meanwhile the section on terrorism condemns it "in all its forms and manifestations, committed by whomever, wherever and for whatever purposes", but fails to provide the clear definition the Americans wanted.
Both Mr. Annan and, more surprisingly, George Bush have nevertheless sought to put a good face on things, with Mr. Annan describing the summit document as "an important step forward" and Mr. Bush saying the UN had taken "the first steps" towards reform. Mr. Annan and Mr. Bolton are determined to go a lot further. It is now up to the General Assembly to flesh out the document's skeleton proposals and propose new ones. But its chances of success appear slim.
Who have recently listened to the story in the first paragraph of the text？
A．Ambassadors.
B．UN officials.
C．The world's leaders.
D．Reporters.
Section B – TWO questions ONLY to be attempted
(a) You are an audit manager in Weller & Co, an audit firm which operates as part of an international network of firms. This morning you received a note from a partner regarding a potential new audit client:
‘I have been approached by the audit committee of the Plant Group, which operates in the mobile telecommunications sector. Our firm has been invited to tender for the audit of the individual and group financial statements for the year ending 31 March 2013, and I would like your help in preparing the tender document. This would be a major new client for our firm’s telecoms audit department.
The Plant Group comprises a parent company and six subsidiaries, one of which is located overseas. The audit committee is looking for a cost effective audit, and hopes that the strength of the Plant Group’s governance and internal control mean that the audit can be conducted quickly, with a proposed deadline of 31 May 2013. The Plant Group has expanded rapidly in the last few years and significant finance was raised in July 2012 through a stock exchange listing.’
Required:
Identify and explain the specific matters to be included in the tender document for the audit of the Plant Group. (8 marks)
(b) Weller & Co is facing competition from other audit firms, and the partners have been considering how the firm’s revenue could be increased. Two suggestions have been made: 1. Audit partners and managers can be encouraged to sell non-audit services to audit clients by including in their remuneration package a bonus for successful sales. 2. All audit managers should suggest to their audit clients that as well as providing the external audit service, Weller & Co can provide the internal audit service as part of an ‘extended audit’ service. Required: Comment on the ethical and professional issues raised by the suggestions to increase the firm’s revenue. (8 marks)
And though the neighbors in White Rock, N. M. put out flags last Wednesday and welcomed Lee home with a big backyard party on Barcelona Avenue, the man at the center of the wreckage still has a lot of explaining to do. Lee won back his freedom only after pleading guilty to a single felony count of mishandling national-defense information, which means he downloaded the equivalent of 400, 000 pages of classified data about the U. S. nuclear-weapons program onto an unsecured computer system and then transferred them to high-volume cassettes. Lee had refused to spell out why he spent an estimated 40 hours over 70 days downloading all that data, what he did with much of it or why he tried repeatedly to enter a restricted area after losing his security clearance—once, around 3: 30 a. m. on Christmas Eve. As part of his plea agreement, Lee promised to explain everything to investigators. He will never again be able to vote, however, Or serve on a jury.
But the real damage from the Lee case isn't the leaks from national labs or the mystery of secrets that got away. Instead, the case makes it harder to believe that in America at least, the governmem will always ensure that the punishment fits the crime.
The Wen Ho Lee story began in 1995, when a walk-in source gave the CIA a document from the People's Republic of China that claimed Chinese weapons designers had obtained specific and highly classified details of an American nuclear warhead known as the W-88. Not everyone in the intelligence community was convinced the document was genuine. The Department Of Energy and the FBI, which handles spy catching, quickly learned that several agencies and some defense contractors had information about the W-88, and concluded that the leak had probably occurred at the weapons lab at Los Alamos, where most of the data were stored. DOE officials compiled a list of about 12 people who had both access to the material and contact with Chinese officials and scientists. On the list was Wen Ho Lee.
Finding out spies is hard. To stand a chance of putting them behind bars, you almost have to catch them in the act of forking over secrets. But in the Los Alamos case, the damage was already done, and so agents had to find a way to "walk the cat back, "as they like to say, and prove the crime in retrospect. That makes spy catching even harder, but the FBI didn't do itself any favors. Bureau sources admit that when the probe was opened in May 1996, it was left to second- string agents. "It was dumb and dumber, "says a bureau veteran. "They put the wrong people to investigate it, and they didn't give it sufficient oversight from headquarters. "
From the sentence "Energy Secretary Bill Richardson, whose department had ignored security at Los Alamos for years, was walking around in a daze. ", we know that_____.
A．Energy Secretary Bill Richardson was chiefly responsible for the case
B．Energy Secretary Bill Richardson was in a great angry
C．Energy Secretary Bill Richardson was losing his mind in dealing with the case
D．Energy Secretary Bill Richardson was defeated severely
Sales ordering, goods despatched and invoicing
Heraklion Co sells footballs to a range of large and small sports equipment retailers in several countries. Sales are made through a network of sales staff employed by Heraklion Co, but new customer leads are generated through a third party company. Sales staff are responsible for assessing new customers’ creditworthiness and proposing a credit limit which is then authorised by the sales director. The sales staff have monthly sales targets and are able to use their discretion in granting sales discounts up to a maximum of 10%. They then record any discount granted in the customer master data file.
The sales staff visit customer sites personally and orders are completed using a two-part pre-printed order form. One copy is left with the customer and the other copy is retained by the sales person. The sales order number is based on the sales person’s own identification (ID) number.
The company markets itself on being able to despatch all orders within three working days. Once the order is taken, the sales person emails the finance department and warehouse despatch team with the customer ID and the sales order details and from this a pick list is generated. Sequentially numbered goods despatched notes are completed and filed in the warehouse.
Sequentially numbered invoices are generated using the pick lists for quantities and the customer master data file for prices. Standard credit terms for customers are 30 days and on a monthly basis sales invoices which are over 90 days outstanding are notified to the relevant sales person to chase payment directly with the customer.
Payroll fraud
The finance director, Montse Mirabelle, has informed you that a significant fraud took place during the year in the payroll department. A number of fictitious employees were set up on the payroll and wages were paid into one bank account. This bank account belonged to two supervisors, who were married, and were employed by Heraklion Co. One had sole responsibility for setting up new joiners in the payroll system and the other processed and authorised bank transfer requests for wages and supplier payments. These employees no longer work for the company and Montse has asked the audit firm for recommendations on how to improve controls in this area to prevent this type of fraud occurring again. Heraklion Co operates a Human Resources department.
Required:
(a) Describe TWO methods for documenting the sales system, and for each explain ONE advantage and ONE disadvantage of using this method. (6 marks)
(b) Identify and explain SEVEN deficiencies in the sales system of Heraklion Co and provide a recommendation to address each of these deficiencies. Note: Prepare your answer using two columns headed Control deficiency and Control recommendation respectively. (14 marks)
(c) In relation to the payroll fraud, identify and explain THREE controls Heraklion Co should implement to reduce the risk of this type of fraud occurring again and, for each control, describe how it would mitigate the risk. (6 marks)
(d) Describe substantive procedures the auditor should perform. to obtain sufficient and appropriate audit evidence in relation to Heraklion Co’s revenue. (4 marks)
What is the purpose of the document？
A．To explain how to install an air conditioning
B．To inform. users how to deal with mechanical problems
C．To advertise a new air conditioning system
D．To report a damaged air conditioning to a repair center
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