(c) Explain how the use of activity-based techniques may benefit Taliesin Ltd. (5 marks)

(c) State the tax consequences for both Glaikit Limited and Alasdair if he borrows money from the company, as

proposed, on 1 January 2006. (3 marks)

久期缺口的定义是什么？

You are the manager responsible for performing hot reviews on audit files where there is a potential disagreement

between your firm and the client regarding a material issue. You are reviewing the going concern section of the audit

file of Dexter Co, a client with considerable cash flow difficulties, and other, less significant operational indicators of

going concern problems. The working papers indicate that Dexter Co is currently trying to raise finance to fund

operating cash flows, and state that if the finance is not received, there is significant doubt over the going concern

status of the company. The working papers conclude that the going concern assumption is appropriate, but it is

recommended that the financial statements should contain a note explaining the cash flow problems faced by the

company, along with a description of the finance being sought, and an evaluation of the going concern status of the

company. The directors do not wish to include the note in the financial statements.

Required:

(b) Consider and comment on the possible reasons why the directors of Dexter Co are reluctant to provide the

note to the financial statements. (5 marks)

(b) Identify and explain the financial statement risks to be taken into account in planning the final audit.

(12 marks)

(ii) If a partner, who is an actuary, provides valuation services to an audit client, can we continue with the audit?

(3 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.

久期缺口的计算公式是什么？

2017年6月银行初级《个人理财》机考真题及答案

判断题

2、短期政府债券具有违约风险小、流动性强、收入免税等特点。

3、记账式国债是目前银行代理国债业务中效率最高、成本最低、交易最安全的品种。

4、商业银行在向客户说明有关投资风险时，应使用最通俗易懂的语言，说明最有利的投资情形。

5、客户信息整理通常针对定量信息，一般汇总成资产负债表和收支储蓄表。

6、投资型保险的最大特点就是将保险的基本保障功能和资金增值功能结合。

7、土地所有权可以抵押。

8、收入型年金的投资对象常常是风险较大的金融产品，追求长期资本增值。

9、收益率是决定一笔货币在未来增值程度的关键因素，而通胀率则是使货币购买力缩水的反向因素。

10、按照利息支付方式，债券划分为附息债券、一次性还本付息债和贴现债等。

11、对个人结汇和购汇每年每年等值3万美元。

12、就客户而言，寻求财务顾问服务的直接目的是实现人生目标中的经济目标，管理人生财务风险，降低对财务状况的焦虑，进而实现财务自由。

13、开放式理财产品的总体份额与总体金额都是可变的，可以随时根据市场供求变化发行新份额或被投资人赎回的理财产品。

14、代理人不履行职责给被代理人造成损害，应当承担民事责任。

15、基金前端收费是按照金额收费，后端收费是以取得收益进行收费。

16、银行理财产品投资顾问可以提供具体投资建议。

In relation to company law, explain:

(a) the limitations on the use of company names; (4 marks)

(b) the tort of ‘passing off’; (4 marks)

(c) the role of the company names adjudicators under the Companies Act 2006. (2 marks)

You are an audit manager at Rockwell & Co, a firm of Chartered Certified Accountants. You are responsible for the audit of the Hopper Group, a listed audit client which supplies ingredients to the food and beverage industry worldwide.

The audit work for the year ended 30 June 2015 is nearly complete, and you are reviewing the draft audit report which has been prepared by the audit senior. During the year the Hopper Group purchased a new subsidiary company, Seurat Sweeteners Co, which has expertise in the research and design of sugar alternatives. The draft financial statements of the Hopper Group for the year ended 30 June 2015 recognise profit before tax of $495 million (2014 – $462 million) and total assets of $4,617 million (2014: $4,751 million). An extract from the draft audit report is shown below:

Basis of modified opinion (extract)

In their calculation of goodwill on the acquisition of the new subsidiary, the directors have failed to recognise consideration which is contingent upon meeting certain development targets. The directors believe that it is unlikely that these targets will be met by the subsidiary company and, therefore, have not recorded the contingent consideration in the cost of the acquisition. They have disclosed this contingent liability fully in the notes to the financial statements. We do not feel that the directors’ treatment of the contingent consideration is correct and, therefore, do not believe that the criteria of the relevant standard have been met. If this is the case, it would be appropriate to adjust the goodwill balance in the statement of financial position.

We believe that any required adjustment may materially affect the goodwill balance in the statement of financial position. Therefore, in our opinion, the financial statements do not give a true and fair view of the financial position of the Hopper Group and of the Hopper Group’s financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards.

Emphasis of Matter Paragraph

We draw attention to the note to the financial statements which describes the uncertainty relating to the contingent consideration described above. The note provides further information necessary to understand the potential implications of the contingency.

Required:

(a) Critically appraise the draft audit report of the Hopper Group for the year ended 30 June 2015, prepared by the audit senior.

Note: You are NOT required to re-draft the extracts from the audit report. (10 marks)

(b) The audit of the new subsidiary, Seurat Sweeteners Co, was performed by a different firm of auditors, Fish Associates. During your review of the communication from Fish Associates, you note that they were unable to obtain sufficient appropriate evidence with regard to the breakdown of research expenses. The total of research costs expensed by Seurat Sweeteners Co during the year was $1·2 million. Fish Associates has issued a qualified audit opinion on the financial statements of Seurat Sweeteners Co due to this inability to obtain sufficient appropriate evidence.

Required:

Comment on the actions which Rockwell & Co should take as the auditor of the Hopper Group, and the implications for the auditor’s report on the Hopper Group financial statements. (6 marks)

(c) Discuss the quality control procedures which should be carried out by Rockwell & Co prior to the audit report on the Hopper Group being issued. (4 marks)