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正确答案：
(c) The following are six separate and distinct assessment criteria (including those suggested by the managing director), that
would enable the management of Envico Ltd to assess the ‘value for money’ of each seminar. The assessment criteria are
presented as questions that would comprise the contents of a questionnaire but other presentations would have been equally
acceptable.
(1) Did the course meet your objectives?
‘Value for money’ may, in part, be assessed by reference to the ‘effectiveness’ of the service provision. Effectiveness may
be viewed in this context as meeting the objectives of attendees. All attendees have similar but varying objectives and
hence it is vital that Envico Ltd meets the objectives of all attendees if seminars are to constitute ‘value for money’.
(2) How would you rate the quality of the speakers?
A primary resource of Envico Ltd is its speakers and thus it is important to gauge how they were perceived to perform
by the attendees.
(3) How would you rate comfort, cleanliness and facilities of the seminar rooms?
Again, a principal resource, which is consumed when providing the service, is the seminar room and the facilities
contained within it. Attendees will find a clean and ergonomically designed room more conducive for education and
training activities.
(4) How would you assess the quality of the course materials?
Since Envico Ltd undertakes the provision of educational and training seminars then the quality of course materials
provided assumes critical significance as they represent the ‘raison d’être’ of Envico Ltd. If they are perceived to be of
high quality they may act as a good advertisement for the company. Conversely, poor quality course materials will cause
Envico Ltd to be perceived poorly.
(5) How strongly would you recommend Envico courses to friends and colleagues?
This is a very important consideration since ‘word of mouth’ may represent the best means of advertising the services
provided by Envico Ltd and is indicative of whether attendees consider that they have received ‘value for money’ from
Envico Ltd.
(6) Do you consider that you could have achieved your objectives in attending the course in a more expedient manner? If
so, please detail below.
This question acknowledges that the time of attendees is a scarce resource and hence there may well be an opportunity
cost in attending seminars in addition to the explicit costs such as course fees, travel and subsistence costs etc. It is
essential that Envico Ltd is flexible in its approach to meeting the needs of clients where attendance at seminars is either
impracticable or undesirable. Perhaps a series of interactive CDs and/or video tuition may be more appropriate in certain
instances.

正确答案：
(ii) There is objective evidence of impairment because of the financial difficulties and reorganisation of Bromwich. The
impairment loss on the loan will be calculated by discounting the estimated future cash flows. The future cash flows
will be $100,000 on 30 November 2007. This will be discounted at an effective interest rate of 8% to give a present
value of $85,733. The loan will, therefore, be impaired by ($200,000 – $85,733) i.e. $114,267.
(Note: IAS 39 requires accrual of interest on impaired loans at the original effective interest rate. In the year to
30 November 2006 interest of 8% of $85,733 i.e. $6,859 would be accrued.)

正确答案：
(c) (i) Audit report implications
Audit procedures have shown that there is a significant level of doubt over Dexter Co’s going concern status. IAS 1
requires that disclosure is made in the financial statements regarding material uncertainties which may cast significant
doubt on the ability of the entity to continue as a going concern. If the directors refuse to disclose the note to the financial
statements, there is a clear breach of financial reporting standards.
In this case the significant uncertainty is caused by not knowing the extent of the future availability of finance needed
to fund operating activities. If the note describing this uncertainty is not provided, the financial statements are not fairly
presented.
The audit report should contain a qualified or an adverse opinion due to the disagreement. The auditors need to make
a decision as to the significance of the non-disclosure. If it is decided that without the note the financial statements are
not fairly presented, and could be considered misleading, an adverse opinion should be expressed. Alternatively, it could
be decided that the lack of the note is material, but not pervasive to the financial statements; then a qualified ‘except
for’ opinion should be expressed.
ISA 570 Going Concern and ISA 701 Modifications to the Independent Auditor’s Report provide guidance on the
presentation of the audit report in the case of a modification. The audit report should include a paragraph which contains
specific reference to the fact that there is a material uncertainty that may cast significant doubt about the entity’s ability
to continue as a going concern. The paragraph should include a clear description of the uncertainties and would
normally be presented immediately before the opinion paragraph.