浙江省考生：ACCA考试成绩有效期是多久？

正确答案：
(b) (i) Enquiries in respect of the external valuer
Enquiries would need to be made for two main reasons, firstly to determine the competence, and secondly the objectivity
of the valuer. ISA 620 Using the Work of an Expert contains guidance in this area.
Competence
Enquiries could include:
– Is the valuer a member of a recognised professional body, for example a nationally or internationally recognised
institute of registered surveyors?
– Does the valuer possess any necessary licence to carry out valuations for companies?
– How long has the valuer been a member of the recognised body, or how long has the valuer been licensed under
that body?
– How much experience does the valuer have in providing valuations of the particular type of investment properties
held by Poppy Co?
– Does the valuer have specific experience of evaluating properties for the purpose of including their fair value within
the financial statements?
– Is there any evidence of the reputation of the valuer, e.g. professional references, recommendations from other
companies for which a valuation service has been provided?
– How much experience, if any, does the valuer have with Poppy Co?
Using the above enquiries, the auditor is trying to form. an opinion as to the relevance and reliability of the valuation
provided. ISA 500 Audit Evidence requires that the auditor gathers evidence that is both sufficient and appropriate. The
auditor needs to ensure that the fair values provided by the valuer for inclusion in the financial statements have been
arrived at using appropriate knowledge and skill which should be evidenced by the valuer being a member of a
professional body, and, if necessary, holding a licence under that body.
It is important that the fair values have been arrived at using methods allowed under IAS 40 Investment Property. If any
other valuation method has been used then the value recognised in the statement of financial position may not be in
accordance with financial reporting standards. Thus it is important to understand whether the valuer has experience
specifically in providing valuations that comply with IAS 40, and how many times the valuer has appraised properties
similar to those owned by Poppy Co.
In gauging the reliability of the fair value, the auditor may wish to consider how Poppy Co decided to appoint this
particular valuer, e.g. on the basis of a recommendation or after receiving references from companies for which
valuations had previously been provided.
It will also be important to consider how familiar the valuer is with Poppy Co’s business and environment, as a way to
assess the reliability and appropriateness of any assumptions used in the valuation technique.
Objectivity
Enquiries could include:
– Does the valuer have any financial interest in Poppy Co, e.g. shares held directly or indirectly in the company?
– Does the valuer have any personal relationship with any director or employee of Poppy Co?
– Is the fee paid for the valuation service reasonable and a fair, market based price?
With these enquiries, the auditor is gaining assurance that the valuer will perform. the valuation from an independent
point of view. If the valuer had a financial interest in Poppy Co, there would be incentive to manipulate the valuation in
a way best suited to the financial statements of the company. Equally if the valuer had a personal relationship with a
senior member of staff at Poppy Co, the valuer may feel pressured to give a favourable opinion on the valuation of the
properties.
The level of fee paid is important. It should be commensurate with the market rate paid for this type of valuation. If the
valuer was paid in excess of what might be considered a normal fee, it could indicate that the valuer was encouraged,
or even bribed, to provide a favourable valuation.

正确答案：
(ii) Value added tax (VAT)
Goods exported are zero-rated. Razor Ltd must retain appropriate documentary evidence that the export has taken place.
Razor Ltd must account for VAT on the value of the goods purchased from Cutlass Inc at the time the goods are brought
into the UK. The VAT payable should be included as deductible input tax on the company’s VAT return.

正确答案：
(iii) If no new products are available then CTC must look to boost revenues obtained from its existing product portolio whilst
seeking to reduce product specific fixed overheads and the company’s other fixed overheads. In order to do this attention
should be focused on the marketing activities currently undertaken.
CTC should consider selling all of its products in ‘multi product’ packages as it might well be the case that the increased
contribution achieved from increased sales volumes would outweigh the diminution in contribution arising from
reductions in the selling price per unit of each product.
CTC could also apply target costing principles in order to reduce costs and thereby increase the margins on each of its
products. Value analysis should be undertaken in order to evaluate the value-added features of each product. For
example, the use of non-combustible materials in manufacture would be a valued added feature of such products
whereas the use of pins and metal fastenings which are potentially harmful to children would obviously not comprise
value added features. CTC should focus on delivering ‘value’ to the customer and in attempting to do so should seek to
identify all non-value activities in order that they may be eliminated and hence margins improved.