浙江省考生：2020年ACCA国际会计师考试时间是如何安排的？

正确答案：
Embedded risk
Risk awareness is the knowledge of the nature, hazards and probabilities of risk in given situations. Whilst management will
typically be more aware than others in the organisation of many risks, it is important to embed awareness at all levels so as
to reduce the costs of risk to an organisation and its members (which might be measured in financial or non-financial terms).
In practical terms, embedding means introducing a taken-for-grantedness of risk awareness into the culture of an organisation
and its internal systems. Culture, defined in Handy’s terms as ‘the way we do things round here’ underpins all risk
management activity as it defines attitudes, actions and beliefs.
The embedding of risk awareness into culture and systems involves introducing risk controls into the process of work and the
environment in which it takes place. Risk awareness and risk mitigation become as much a part of a process as the process
itself so that people assume such measures to be non-negotiable components of their work experience. In such organisational
cultures, risk management is unquestioned, taken for granted, built into the corporate mission and culture and may be used
as part of the reward system.
Tutorial note: other meaningful definitions of culture in an organisational context are equally acceptable.

正确答案：
(c) Claims for capital losses
Where the value of shares (a chargeable asset) has become negligible (defined as <5% of the original cost), a claim can be
made to treat the asset as though it was sold and then immediately reacquired for its current market value. This is known as
a negligible value claim.
The sale and reacquisition is treated as taking place at the time that the claim is made or at a specified time (up to 2 years
before the start of the tax year in which the claim was made) if the asset was of negligible value at that time.
As the loss is on unquoted shares, a further relief (s.574 ICTA 1988) allows the loss to be relieved against the total income
of the taxpayer for the year in which the loss arose, and/or against the total income of the previous year.
Losses are first relieved against current year income, with any excess being available for offset against the prior year’s income.
Bob can therefore make a negligible value claim as at 1 December 2004. This will give rise to a loss of ￡14,500
(￡500 – ￡15,000) which will be deemed to arise in the year 2004/05. By doing so, his taxable income for that year will be
reduced from ￡36,875 to ￡22,375.

正确答案：
(b) Good Sports has pursued a conscious niche or focus differentiation strategy, seeking to serve a local market in a way that
isolates it from the competition of the large national sports good retailers competing on the basis of supplying famous brands
at highly competitive prices. Does it make strategic sense for Good Sports to make the heavy investment necessary to supply
goods online? Will this enhance its ability to supply their chosen market?
In terms of price, e-business is bringing much greater price transparency – the problem for companies like Good Sports is
that customers may use their expertise to research into a particular type and brand of sports equipment and then simply
search the Internet for the cheapest supply. Porter in an article examining the impact of the Internet argues that rather than
making strategy obsolete it has in fact made it more important. The Internet has tended to weaken industry profitability and
made it more difficult to hold onto operational advantages. Choosing which customers you serve and how are even more
critical decisions.
However the personal advice and performance side of the business could be linked to new ways of promoting the product
and communicating with the customer. The development of customer communities referred to above could be a real way of
increasing customer loyalty. The partners are anxious to avoid head-on competition with the national retailers. One way of
increasing the size and strength of the niche they occupy is to use the Internet as a means of targeting their particular
customers and providing insights into the use and performance of certain types of equipment by local clubs and users. There
is considerable scope for innovation that enhances the service offered to their customers. As always there is a need to balance
the costs and benefits of time spent. The Internet can provide a relatively cost effective way of providing greater service to
their customers. There is little in the scenario to suggest they have reached saturation point in their chosen niche market.
Overall there is a need for Good Sports to decide what and where its market is and how this can be improved by the use ofe-business.

正确答案：
(c) Impact on the audit of the financial statements
Tutorial note: The answer to this part should reflect that it is not the external auditor who is providing the internal audit
services. Thus comments regarding objectivity impairment are not relevant.
■ As Grey & Co is likely to be placing some reliance on RBG’s internal audit department in accordance with ISA 610
Considering the Work of Internal Auditing the degree of reliance should be reassessed.
■ The appointment will include an evaluation of organisational risk. The results of this will provide Grey with evidence,
for example:
– supporting the appropriateness of the going concern assumption;
– of indicators of obsolescence of goods or impairment of other assets.
■ As the quality of internal audit services should be higher than previously, providing a stronger control environment, the
extent to which Grey may rely on internal audit work could be increased. This would increase the efficiency of the
external audit of the financial statements as the need for substantive procedures should be reduced.
■ However, if internal audit services are performed on a part-time basis (e.g. fitting into the provider’s less busy months)
Grey must evaluate the impact of this on the prevention, detection and control of fraud and error.
■ The internal auditors will provide a body of expertise within RBG with whom Grey can consult on contentious matters.
Tutorial note: Appropriate credit will be given for arguing that less reliance may be placed on internal audit in this year of
change of provider.