ACCA考试 2022_03_12 每日一练
(b) The Sarbanes-Oxley Act contains provisions for the attestation (verification) and reporting to shareholders of
internal controls over financial reporting.
Required:
Describe the typical contents of an external report on internal controls. (8 marks)
(d) Explain whether or not Dovedale Ltd, Hira Ltd and Atapo Inc can register as a group for the purposes of value
added tax. (3 marks)
Matthew Black is well aware that the achievement of the growth targets for the 2005 to 2007 period will depend on
successful implementation of the strategy, affecting all parts of the company’s activities.
(c) Explain the key issues affecting implementation and the changes necessary to achieve Universal’s ambitious
growth strategy. (15 marks)
During the year the internal auditor of Mulligan Co discovered several discrepancies in the inventory records. In a
statement made to the board of directors, the internal auditor said:
‘I think that someone is taking items from the warehouse. A physical inventory count is performed every three months,
and it has become apparent that about 200 boxes of flat-packed chairs and tables are disappearing from the
warehouse every month. We should get someone to investigate what has happened and quantify the value of the
loss.’
Required:
(c) Define ‘forensic accounting’ and explain its relevance to the statement made by the internal auditor.
(5 marks)
(d) Evaluate the circumstances in which a government can act as an aid to business performance. (5 marks)
(b) Describe the principal audit procedures to be carried out in respect of the following:
(i) The measurement of the share-based payment expense; (6 marks)
(ii) Advise Mr Fencer of the income tax implications of the proposed financing arrangements. (2 marks)
(b) Describe the principal audit work to be performed in respect of the useful lives of Shire Oil Co’s rig platforms.
(6 marks)
10 Which of the following factors would cause a company’s gearing ratio to fall?
1 A bonus issue of ordinary shares.
2 A rights issue of ordinary shares.
3 An issue of loan notes.
4 An upward revaluation of non-current assets.
A 1 and 3
B 2 and 3
C 1 and 4
D 2 and 4