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(ii) If a partner, who is an actuary, provides valuation services to an audit client, can

(ii) If a partner, who is an actuary, provides valuation services to an audit client, can we continue with the audit?

(3 marks)

Required:

For each of the three questions, explain the threats to objectivity that may arise and the safeguards that

should be available to manage them to an acceptable level.

NOTE: The mark allocation is shown against each of the three questions above.

提问人:网友koffans 发布时间:2022-01-07
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第2题
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W:You should try to meet each other halfway.

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第3题
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第4题
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第5题
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第6题
听力原文:M: My chemistry project is in trouble because my partner and I have totally diffe
rent ideas about how to proceed.

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第8题
听力原文:M: My chemistry project is in trouble because my partner and I have totally diffe
rent ideas about how to proceed.

W: You should try to meet each other half way.

What does the woman suggest the man to do?

A.Finish the first half of the project right away.

B.Make an effort to reach a compromise.

C.Have the teacher review the project.

D.Meet his partner in the middle of the town.

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第9题
(a) (i) Identify and explain FOUR financial statement assertions relevant to classes of tr

(a) (i) Identify and explain FOUR financial statement assertions relevant to classes of transactions and events for the year under audit; and

(ii) For each identified assertion, describe a substantive procedure relevant to the audit of REVENUE. (8 marks)

(b) Hawthorn Enterprises Co (Hawthorn) manufactures and distributes fashion clothing to retail stores. Its year end was 31 March 2015. You are the audit manager and the year-end audit is due to commence shortly. The following three matters have been brought to your attention.

(i) Supplier statement reconciliations

Hawthorn receives monthly statements from its main suppliers and although these have been retained, none have been reconciled to the payables ledger as at 31 March 2015. The engagement partner has asked the audit senior to recommend the procedures to be performed on supplier statements. (3 marks)

(ii) Bank reconciliation

During last year’s audit of Hawthorn’s bank and cash, significant cut off errors were discovered with a number of post year-end cheques being processed prior to the year end to reduce payables. The finance director has assured the audit engagement partner that this error has not occurred again this year and that the bank reconciliation has been carefully prepared. The audit engagement partner has asked that the bank reconciliation is comprehensively audited. (4 marks)

(iii) Receivables

Hawthorn’s receivables ledger has increased considerably during the year, and the year-end balance is $2·3 million compared to $1·4 million last year. The finance director of Hawthorn has requested that a receivables circularisation is not carried out as a number of their customers complained last year about the inconvenience involved in responding. The engagement partner has agreed to this request, and tasked you with identifying alternative procedures to confirm the existence and valuation of receivables. (5 marks)

Required:

Describe substantive procedures you would perform. to obtain sufficient and appropriate audit evidence in relation to the above three matters.

Note: The mark allocation is shown against each of the three matters above.

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第10题
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According to the passage, what is the main cause of Patrick stealing the money?

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B.The partners agreed to have the money transferred.

C.Patrick had access to all the files in the firm.

D.Bogan decided to hire Patrick nine years earlier.

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