(iii) Can internal audit services be undertaken for an audit client? (4 marks)Required:For each of the three questions, explain the threats to objectivity that may arise and the safeguards thatshould be available to manage them to an acceptable level.NOTE

题目

(iii) Can internal audit services be undertaken for an audit client? (4 marks)

Required:

For each of the three questions, explain the threats to objectivity that may arise and the safeguards that

should be available to manage them to an acceptable level.

NOTE: The mark allocation is shown against each of the three questions above.

相似考题

1.(iii) Tyre has entered into two new long lease property agreements for two major retail outlets. Annual rentals are paidunder these agreements. Tyre has had to pay a premium to enter into these agreements because of the outlets’location. Tyre feels that the premiums paid are justifiable because of the increase in revenue that will occurbecause of the outlets’ location. Tyre has analysed the leases and has decided that one is a finance lease andone is an operating lease but the company is unsure as to how to treat this premium. (5 marks)Required:Advise the directors of Tyre on how to treat the above items in the financial statements for the year ended31 May 2006.(The mark allocation is shown against each of the above items)

2.Required:(iii) A firm of consultants has offered to undertake a study on behalf of Envico Ltd which will provide perfectinformation regarding seminar attendance during the forthcoming year.Advise the management of Envico Ltd with regard to the maximum amount that they should pay toconsultants for perfect information regarding seminar attendance and comment briefly on the use ofperfect information in such decisions. (5 marks)

3.(iii) Can audit teams cross sell services to their clients? (4 marks)Required:For EACH of the three FAQs, explain the threats to objectivity that may arise and the safeguards that shouldbe available to manage them to an acceptable level.NOTE: The mark allocation is shown against each of the three questions.

4.(c) Mr Cobar, the chief executive of SHC, has decided to draft two alternative statements to explain both possibleoutcomes of the secrecy/licensing decision to shareholders. Once the board has decided which one to pursue,the relevant draft will be included in a voluntary section of the next corporate annual report.Required:(i) Draft a statement in the event that the board chooses the secrecy option. It should make a convincingbusiness case and put forward ethical arguments for the secrecy option. The ethical arguments shouldbe made from the stockholder (or pristine capitalist) perspective. (8 marks)(ii) Draft a statement in the event that the board chooses the licensing option. It should make a convincingbusiness case and put forward ethical arguments for the licensing option. The ethical arguments shouldbe made from the wider stakeholder perspective. (8 marks)(iii) Professional marks for the persuasiveness and logical flow of arguments: two marks per statement.(4 marks)

更多“(iii) Can internal audit services be undertaken for an audit client? (4 marks)Required:For ”相关问题

  • 第1题：

    4 (a) ISA 701 Modifications to The Independent Auditor’s Report includes ‘suggested wording of modifying phrases

    for use when issuing modified reports’.

    Required:

    Explain and distinguish between each of the following terms:

    (i) ‘qualified opinion’;

    (ii) ‘disclaimer of opinion’;

    (iii) ‘emphasis of matter paragraph’. (6 marks)


    正确答案：
    4 PETRIE CO
    (a) Independent auditor’s report terms
    (i) Qualified opinion – A qualified opinion is expressed when the auditor concludes that an unqualified opinion cannot be
    expressed but that the effect of any disagreement with management, or limitation on scope is not so material and
    pervasive as to require an adverse opinion or a disclaimer of opinion.
    (ii) Disclaimer of opinion – A disclaimer of opinion is expressed when the possible effect of a limitation on scope is so
    material and pervasive that the auditor has not been able to obtain sufficient appropriate audit evidence and accordingly
    is unable to express an opinion on the financial statements.
    (iii) Emphasis of matter paragraph – An auditor’s report may be modified by adding an emphasis of matter paragraph to
    highlight a matter affecting the financial statements that is included in a note to the financial statements that more
    extensively discusses the matter. Such an emphasis of matter paragraph does not affect the auditor’s opinion. An
    emphasis of matter paragraph may also be used to report matters other than those affecting the financial statements
    (e.g. if there is a misstatement of fact in other information included in documents containing audited financial
    statements).
    (iii) is clearly distinguishable from (i) and (ii) because (i) and (ii) affect the opinion paragraph, whereas (iii) does not.
    (i) and (ii) are distinguishable by the degree of their impact on the financial statements. In (i) the effects of any disagreement
    or limitation on scope can be identified with an ‘except for …’ opinion. In (ii) the matter is pervasive, that is, affecting the
    financial statements as a whole.
    (ii) can only arise in respect of a limitation in scope (i.e. insufficient evidence) that has a pervasive effect. (i) is not pervasive
    and may also arise from disagreement (i.e. where there is sufficient evidence).

  • 第2题：

    账户口令管理中4A的认证管理的英文单词为()。

    A.Account

    B.Authentication

    C.Authorization

    D.Audit


    正确答案：B

  • 第3题：

    查看审计策略是否生效的视图是?()

    A. DBA_AUDIT_EXISTS

    B. DBA_AUDIT_OBJECT

    C. DBA_AUDIT_POLICY_COLUMNS

    D. DBA_AUDIT_POLICIES

    E. DBA_AUDIT_SESSION


    参考答案B

  • 第4题：

    YouworkasadatabaseadministratorforCertkiller.com.Inyourdevelopmentenvironmentenvironment，thedevelopersareresponsibleformodifyingthetablestructureaccordingtotheapplicationrequirements.However，youwanttokeeptrackoftheALTERTABLEcommandsbeingexecutedbydevelopers，soyouenableauditingtoachievethisobjective.Whichtwoviewswouldyourefertofindouttheauditinformation？（）

    A.DBA_AUDIT_TRAIL

    B.DBA_AUDIT_SESSION

    C.DBA_FGA_AUDIT_TRAIL

    D.DBA_COMMON_AUDIT_TRAIL


    参考答案：A, C

  • 第5题：

    哪个消息是MGC发给MG的心跳消息?()

    A、!/1[192.168.6.71]:2944Transaction=20{Context=-{AuditValue=ROOT{Audit{}}}}

    B、!/1[192.168.6.71]:2944Transaction=5{Context=-{Auditcapability=A0{Audit{Media,packages}}}}

    C、!/1[191.2.6.213]:2944Transaction=275{Context=-{Notify=ROOT{ObservedEvents=0{19700101T01153516:it/ito}}}}

    D、!/1[192.168.1.119]:2944Transaction=2050{Context=-{AuditValue=ROOT{Audit{Package s}}}}


    参考答案：A

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