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题目
(a) Define audit risk and the components of audit risk. (5 marks)
You are an audit supervisor of Amethyst & Co and are currently planning the audit of your client, Aquamarine Co (Aquamarine) which manufactures elevators. Its year end is 31 July 2016 and the forecast profit before tax is $15·2 million.
The company undertakes continuous production in its factory, therefore at the year end it is anticipated that work in progress will be approximately $950,000. In order to improve the manufacturing process, Aquamarine placed an order in April for $720,000 of new plant and machinery; one third of this order was received in May with the remainder expected to be delivered by the supplier in late July or early August.
At the beginning of the year, Aquamarine purchased a patent for $1·3 million which gives them the exclusive right to manufacture specialised elevator equipment for five years. In order to finance this purchase, Aquamarine borrowed $1·2 million from the bank which is repayable over five years.
In January 2016 Aquamarine outsourced its payroll processing to an external service organisation, Coral Payrolls Co (Coral). Coral handles all elements of the payroll cycle and sends monthly reports to Aquamarine detailing the payroll costs. Aquamarine ran its own payroll until 31 December 2015, at which point the records were transferred over to Coral.
The company has a policy of revaluing land and buildings and the finance director has announced that all land and buildings will be revalued at the year end. During a review of the management accounts for the month of May 2016, you have noticed that receivables have increased significantly on the previous year end and against May 2015.
The finance director has informed you that the company is planning to make approximately 65 employees redundant after the year end. No decision has been made as to when this will be announced, but it is likely to be prior to the year end.
Required:
(b) Describe SIX audit risks, and explain the auditor’s response to each risk, in planning the audit of Aquamarine Co. (12 marks)
(c) Explain the additional factors Amethyst & Co should consider during the audit in relation to Aquamarine Co’s use of the payroll service organisation. (3 marks)
更多“（a) Define audit risk and the components of audit risk. （5 marks)You are an audit supervis”相关的问题
第1题
(c) Define ‘market risk’ for Mr Allejandra and explain why Gluck and Goodman’s market risk exposure is
increased by failing to have an effective audit committee. (5 marks)
第2题
(c) Maxwell Co is audited by Lead & Co, a firm of Chartered Certified Accountants. Leo Sabat has enquired as to
whether your firm would be prepared to conduct a joint audit in cooperation with Lead & Co, on the future
financial statements of Maxwell Co if the acquisition goes ahead. Leo Sabat thinks that this would enable your
firm to improve group audit efficiency, without losing the cumulative experience that Lead & Co has built up while
acting as auditor to Maxwell Co.
Required:
Define ‘joint audit’, and assess the advantages and disadvantages of the audit of Maxwell Co being conducted
on a ‘joint basis’. (7 marks)
第3题
which were recently discussed at the monthly audit managers’ meeting:
(1) Nate & Co has recently been approached by a potential new audit client, Fisher Co. Your firm is keen to take the
appointment and is currently carrying out client acceptance procedures. Fisher Co was recently incorporated by
Marcellus Fisher, with its main trade being the retailing of wooden storage boxes.
(2) Nate & Co provides the audit service to CF Co, a national financial services organisation. Due to a number of
errors in the recording of cash deposits from new customers that have been discovered by CF Co’s internal audit
team, the directors of CF Co have requested that your firm carry out a review of the financial information
technology systems. It has come to your attention that while working on the audit planning of CF Co, Jin Sayed,
one of the juniors on the audit team, who is a recent information technology graduate, spent three hours
providing advice to the internal audit team about how to improve the system. As far as you know, this advice has
not been used by the internal audit team.
(3) LA Shots Co is a manufacturer of bottled drinks, and has been an audit client of Nate & Co for five years. Two
audit juniors attended the annual inventory count last Monday. They reported that Brenda Mangle, the new
production manager of LA Shots Co, wanted the inventory count and audit procedures performed as quickly as
possible. As an incentive she offered the two juniors ten free bottles of ‘Super Juice’ from the end of the
production line. Brenda also invited them to join the LA Shots Co office party, which commenced at the end of
the inventory count. The inventory count and audit procedures were completed within two hours (the previous
year’s procedures lasted a full day), and the juniors then spent four hours at the office party.
Required:
(a) Define ‘money laundering’ and state the procedures specific to money laundering that should be considered
before, and on the acceptance of, the audit appointment of Fisher Co. (5 marks)
第4题
A.SNA
B.RIS
C.RAS
D.WSUS
第5题
A.程序在RIS上编译生成的目标程序较短
B.RIS的指令系统的指令数较少、
C.RIS的指令平均周期数较少
D.RIS只允许Lo指令和Store指令访存
第8题
A.income and expenditure both ris
B.income rises and saving falls.
C.income and saving both ris
D.income rises and expenditure falls.
第9题
Yournetworkincludes50Windows98computerswithstaticIPaddressesandanon-BootPcompliantrouter.Allservicesonyournetworkarecurrentlyfunctioningcorrectly.Youareadding40newPXE-compliantcomputerstothenetwork.Thehardwareoneachcomputerisconfiguredidentically.YouareusingaRemoteInstallationService(RIS)imagetodeployWindows2000Professionaltothe40computers.YouareunabletobegintheRISinstallationonanyofthenewclientcomputers.YouwanttoinstallWindows2000Professionalonthe40newcomputers.Whatshouldyoudo？
Toanswer,dragtheappropriatecomponentfromthecomponentareatothecorrectserverwhereitmustbeinstalledintheNetworkDiagramarea.
第10题
A、PACS、RIS主服务器及后备服务器
B、远程主服务器、RIS主服务器及工作站
C、PACS、RIS主服务器及部门级服务器
D、RIS主服务器、工作站及后备服务器
E、HIS主服务器、RIS主服务器及工作站
第11题
A.Unattendedinstallation
B.RemoteInstallationServices（RIS）
C.AutomatedDeploymentServices（ADS）
D.MicrosoftSystemsManagementServer（SMS）
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