EDINBURGH Napier college or university
School of Accounting, Economics & Statistics
Academic treatment: | 2010/11| Diet: | January
Test duration: | 3 hours| Reading period: | a quarter-hour
(excluding reading time)| |
| Total test time: | 3 several hours 15 minutes
Make sure you read total instructions before commencing writing
Test paper informationTotal number of webpages: 10Number of questions: 15Attempt ALL Questions in Section A and Section B and attempt TWO Questions by Section C| Special guidelines * non-e *
Examiner: Alun Fotheringham
SECTION A: Make an effort ALL Questions
Each problem is worth a couple of marks. Candidates should clearly identify the answer to each question in their response booklet. Only 1 answer per question needs to be identified.
1 ) To enable the auditor to undertake their tasks, the Companies Works have naturally the auditor certain rights. Which from the following is usually not a statutory right?
A A right to attend any general meeting
BA right to attend directors meetings
CA right to speak in general meetings on review issues
DA proper of get at all times to the books and accounts from the company
2 . The famous court ruling the external auditor is a watchdog, but not a bloodhound originate from the the courtroom case concerning:
ALondon & General Financial institution
BThomas Gerrard & Son
DKingston Cotton Mill
3. When ever does the exterior auditor's term of office commence?
AOn the particular date of the proposal letter
BAt the beginning of the company's economical year
Que incluye the time mutually agreed by the auditors and the company directors DAt the end of the standard meeting when the auditor is designated
4. Which usually of the subsequent documents delivers auditors with the basic principles and procedures to be followed during the conduct of an audit?
CInternational Standards on Auditing
your five. When the exterior auditor uses the customer's depreciation coverage, re-computes the expected depreciation charge and compares this with the actual depreciation impose, this is known as the:
BProof as a whole test
6. A class of noncurrent asset had a cost of HK$285, 525 at the beginning of the 12 months and a total cost of HK$315, 450 towards the end of the year. Within these totals there was assets priced at HK$51, 300 that were completely depreciated at the beginning of the season. The class of noncurrent resources is declined at 25% straight-line on cost. What would you expect the downgrading charge to get the year to become?
A HK$ 62, 297
M HK$ 71, 381
C HK$ 79, 863
D HK$ sixty six, 038
several. When the external auditor contains a financial desire for the operation of a consumers business, this really is known as a:
8. вЂAudit risk' may be the risk which the auditor expresses an incorrect opinion when the financial claims are materially misstated. Which will of the next categories of risk can be controlled by the external auditor?
Category of risk:
(i) Natural risk
(ii) Control risk
(iii) Diagnosis risk
(iv) Sampling risk
A (iii) only
B (i), (iii) and (iv)
C (ii), (iii) and (iv)
D (iii) and (iv)
9. Which from the following types of control activities does a small company ordinarily have most trouble implementing satisfactorily?
B Segregation of responsibilities
C Efficiency reviews
G Information finalizing
10. The land and buildings entertained by a great audit client have been revalued by a skilled valuer. The revaluation excessive of HK$40m has been documented as profits in the cash flow statement. You’re able to send profit is usually HK$150m. What would be the most appropriate audit thoughts and opinions to reach?
A An adverse opinion
W A вЂdisclaimer' of thoughts and opinions
Code Turning In Mobile phone Text Messages Amongst Jordanian Students 1 Article
Warf Personal computers Essay
Someday We Did Not Include a Tv or Net Essay
Quail Farming Guide Article
7 Practices of Successful People Book Review Composition
Taxation Statement Essay
Stress Disorder Case Study Article
The Eve of Waterloo Essay
Essay about Manage business change
The American Heritage Book of the The english language Language and Graffiti Composition
Otto Dix Essay
Lets Speak about Sex Article