参加ACCA考试需要带什么东西？了解一下！

正确答案：

(b) Benchmarking at Marlow Fashion will not be an easy exercise. Marlow Fashion has developed a distinctive way of reaching
its markets that means direct comparisons will be hard to make. Certainly, it can carry out historical benchmarking in
comparing how its own processes and activities have improved, or otherwise, over a relevant period of time. Unfortunately,
this is likely to simply confirm worsening performance. It can compare its own key operations against the ‘best in class’;
regardless of which industry the excellent performer comes from. It could and should have been carrying out competitive
benchmarking on the retail side of the business where information should be more easily available. There may be an
opportunity to benchmark itself against firms that have gone through a similar crisis and achieved a successful turnaround.

In terms of the advantages and disadvantages, the willingness of managers responsible for a key area of performance to
compare themselves against relevant external performance measures should make them take responsibility for any changes
necessary. In Marlow Fashion, the acceptance that things have to be done differently will be the first stage in the turnaround.
Getting managers face-to-face with the problems, accepting responsibility for change and recognising that the necessary
changes are ‘doable’ is an important stage in creating a willingness to change. The disadvantages are that every organisation
and situation is different and there is no one best way. Marlow Fashion thought it had discovered the best way and this created
an unwillingness to change. There is also the danger that you are solving today’s problems with yesterday’s solutions. A good
competitor will be trying to maintain its competitive advantage through constantly improving its processes. It also has a vested
interest in trying to prevent its improvements from being revealed to its competitors. Also, many of the ‘softer’ processes –
typically involving people – are difficult if not impossible to replicate in another organisation. These advantages are to do with
culture and leadership and not easily transferable to another organisation and the context in which it is operating.

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(b) FAQs
(i) Information Technology (IT) services
The greatest threats to independence arise from the provision of any service which involves auditors in:
■ auditing their own work;
■ the decision-making process;
■ undertaking management functions of the client.
IT services potentially pose all these threats:
■ self-interest threat – on-going services that provide a large proportion of Boleyn’s annual fees will contribute to a
threat to objectivity;
■ self-review threat – e.g. when IT services provided involve (i) the supervision of the audit client’s employees in the
performance of their normal duties; or (ii) the origination of electronic data evidencing the occurrence of
transactions;
■ management threat – e.g. when the IT services involve making judgments and taking decisions that are properly
the responsibility of management.
Thus, services that involve the design and implementation of financial IT systems that are used to generate information
forming a significant part of a client’s accounting system or financial statements is likely to create significant ethical
threats.
Possible safeguards include:
■ disclosing and discussing fees with the client’s audit committees (or others charged with corporate governance);
■ the audit client providing a written acknowledgment (e.g. in an engagement letter) of its responsibility for:
– establishing and monitoring a system of internal controls;
– the operation of the system (hardware or software); and
– the data used or generated by the system;
■ the designation by the audit client of a competent employee (preferably within senior management) with
responsibility to make all management decisions regarding the design and implementation of the hardware or
software system;
■ evaluation of the adequacy and results of the design and implementation of the system by the audit client;
■ suitable allocation of work within the firm (i.e. staff providing the IT services not being involved in the audit
engagement and having different reporting lines); and
■ review of the audit opinion by an audit partner who is not involved in the audit engagement.
Services in connection with the assessment, design and implementation of internal accounting controls and risk
management controls are not considered to create a threat to independence provided that the firm’s personnel do not
perform. management functions.
It would be acceptable to provide IT services to an audit client where the systems are not important to any significant
part of the accounting system or the production of financial statements and do not have significant reliance placed on
them by the auditors, provided that:
■ a member of the client’s management has been designated to receive and take responsibility for the results of the
IT work undertaken; and
■ appropriate safeguards are put in place (e.g. using separate partners and staff for each role and review by a partner
not involved in the audit engagement).
It would also generally be acceptable to provide and install off-the-shelf accounting packages to an audit client.

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(b) It is clear that many of the problems at Bailey’s that have led to the unhappy atmosphere lend themselves to resolution through the neutral and non-judgemental approach offered by the appointment of external counsellors. The counsellor must be in a position to help the individual employee to identify problems, issues and possible solutions to the kind of problems that have manifested themselves at Bailey’s: poor production, unrest, low morale and significantly, the long tradition of poor pay that is leading to employee family problems outside the factory. There is always the danger of leading the employee, so the counsellor must adopt a passive role, show interest and encourage reflection whilst allowing the employee to lead and talk around the issues. Open questions must be used to help the employee explore ideas and feelings. The counsellor must be an active listener, speaking only to clarify issues and elicit answers when appropriate. Above all, the counsellor must be impartial and this is why Bailey’s has appointed outside counsellors.
Counselling skills require the ability to establish rapport with the employee, to clarify and summarise as appropriate, to ask non-specific questions, use a non-directive approach, to listen and be able to discern what is meant by what the employee says. In addition, the counsellor must allow the employee to be silent if he or she wishes to be, to allow any meeting to take place at the speed of the employee and anticipate the employee’s views on the causes, which at Bailey’s are many, and to allow solutions to the problems.

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(c) (i) Paper for paper rules
The proposed transaction broadly falls under the ‘paper for paper’ rules. Where this is the case, chargeable gains do not
arise. Instead, the new holding stands in the shoes (and inherits the base cost) of the original holding.
The company issuing the new shares must:
(i) end up with more than 25% of the ordinary share capital (or a majority of the voting power) of the old company,
OR
(ii) make a general offer to shareholders in the other company with a condition that, if satisfied, would give the
acquiring company control of the other company.
The exchange must be for bona fide commercial reasons and must not have as its main purpose (or one of its main
purposes) the avoidance of CGT or corporation tax. The acquiring company can obtain advance clearance from the
Inland Revenue that the conditions will be met.
If part of the offer consideration is in the form. of cash, a gain must be calculated using the part disposal rules. If the
cash received is not more than the higher of ￡3,000 or 5% of the total value on takeover, then the amount received in
cash can be deducted from the base cost of the securities under the small distribution rules.