2020年ACCA考试时间是如何安排的？

正确答案：
(ii) Implications for audit opinion on consolidated financial statements of Cleeves
■ If the potential adjustments to non-current asset carrying amounts and loss are not material to the consolidated
financial statements there will be no implication. However, as Howard is material to Cleeves and the modification
appears to be ‘so material’ (giving rise to adverse opinion) this seems unlikely.
Tutorial note: The question clearly states that Howard is material to Cleeves, thus there is no call for speculation
on this.
■ As Howard is wholly-owned the management of Cleeves must be able to request that Howard’s financial statements
are adjusted to reflect the impairment of the assets. The auditor’s report on Cleeves will then be unmodified
(assuming that any impairment of the investment in Howard is properly accounted for in the separate financial
statements of Cleeves).
■ If the impairment losses are not recognised in Howard’s financial statements they can nevertheless be adjusted on
consolidation of Cleeves and its subsidiaries (by writing down assets to recoverable amounts). The audit opinion
on Cleeves should then be unmodified in this respect.
■ If there is no adjustment of Howard’s asset values (either in Howard’s financial statements or on consolidation) it
is most likely that the audit opinion on Cleeves’s consolidated financial statements would be ‘except for’. (It should
not be adverse as it is doubtful whether even the opinion on Howard’s financial statements should be adverse.)
Tutorial note: There is currently no requirement in ISA 600 to disclose that components have been audited by another
auditor unless the principal auditor is permitted to base their opinion solely upon the report of another auditor.

正确答案：
5 ETHICS COLUMN
(a) ‘Assurance team’
■ All members of the engagement team (for the assurance engagement);
■ All others within a firm who can directly influence the outcome of the assurance engagement, for example:
– those who recommend the compensation of, or who provide direct supervisory, management or other oversight of
the assurance engagement partner in connection with the performance of the assurance engagement;
– those who provide consultation regarding technical or industry specific issues, transactions or events for the
assurance engagement; and
– those who provide quality control for the assurance.

正确答案：

 

Aral Ltd owned by Banda
The losses would have to be carried forward and deducted from the trading profits of the year ending 30 June 2010.
Aral Ltd cannot offset the loss in the current period or carry it back as it has no other income or gains.
Aral Ltd owned by Flores Ltd
The two companies will form. a group relief group if Flores Ltd owns at least 75% of the ordinary share capital of Aral
Ltd. The trading losses could be surrendered to Flores Ltd in the year ending 30 June 2008 and the year ending
30 June 2009. The total tax saved would be ￡11,079 ((￡38,696 + ￡19,616) x 19%)
Recommended structure
The Aral business should be established in a company owned by Flores Ltd.
This will maximise the relief available in respect of the trading losses and enable relief to be obtained in the period in
which the losses are incurred.
Tutorial note
The whole of the loss for the period ending 30 June 2008 can be surrendered to Flores Ltd as it is less than that
company’s profit for the corresponding period, i.e. ￡60,000 (￡120,000 x 6/12).