[accboy729]

They don’t even give any detail about what is the charity’s internal control,
guess the question is more like mendelow matrix ,

asking why we keep inform external stakeholder by proving they have particular interest and power that can affect our decision.

[accboy729]

guess tell them face by face and not email this time

[accboy729]

1) a)critically evaluate new CEO leadership ,contrast with previous ceo
b)Critically assess the staff representative’s email, consider whether to yes or not to change leadeship style

(total 24m)

ex ceo will empowered to make decision
some unpaid staff doesn’t have a profit-motive
new ceo just imposed and ask them to do

2)assess charity’s course portfolio and recommend improvements
use the public sector portfolio matrix, just like BCG but unable remember the name , nevermind as long apply the theory

4 courses
-computer skills for beginners – need drops ,
-website design – need increase, but not place available , consider to take from other course places
-find a job – need almost constant, good efficiency even make profit, reinvest/reduce subsidy to other course.
-business skills – need drops, efficiency not good as lot of subsidy on this,close the course but it is condition set by council…..

(11m only)

3)
a)risk management approach
they identify 150 risk ,no assessment of probability or severity
mitigation action not appropriate.
action not effectiveness but no one cares.

b)External stakeholders who are interested in charity’s Internal control and why we share the information to them
4 income
Council – more information may affect their decision not to cut the funds to us.
Corporate – friends of director , tell them as new ceo comes
Personal – international issue that misuse the money in charity, tell them to improve confidence
Participant – tell them because the price will change ,they need to know why

(total 29m)

4)a) financial and non financial performance of emarketing proposals
NPV positive
initial investment – no enough money but mention the building can use for loan
on going investment – last amount for 3 years no inflation , large cash outflow
estimation of 25 % and 15 % additional donation based on the marketing company past commercial experience, not charity ,uncertainty on the figure

Non financial
talk about inefficiency of their newsletter send by post ,is a big waste
q&A inefficiency and unable engage stakeholder ,new one will better
only 500,000 poeple in the country , emarketing can international.
there was a estimation increase in booking , fit to objective .

recommendation is yes because the charity suffering about income,with the high waste of operation.

b)managing change about emarking proposal – lewin 3 stage as format , not sure how to answer

(total 36m)

[accboy729]

I guess the cost of debt should be weighted average of total interest /total market value ?
difference between forex and currency swap was 6 marks,another one asking benefit of seperate treasury department , 6 marks

[accboy729]

sounds like CBE question more easier.

[accboy729]

also using 20% tax

[accboy729]

Straight only

[accboy729]

I remember I saw the question in past year before onetime only, have to calculate forward rate then discount to get market value, and then use irr to find ytm

[accboy729]

The sales unit confused me, but later I realised it is for manufacturing cost, but no time already

[accboy729]

Agree, question is almost same as past year, but time management is the critical point to pass
I believe computer based will better to manage the time

[accboy729]

I think the deposit all correct except the point of recognition, which performance obligation not yet complete…

[accboy729]

Q1 c Whether to accept the engagement, which is how to measure that information , just ethic issue, competence, deadline is one month… Etc

[accboy729]

What answers did people put down for the following questions;

Q1b) Audit procedures on the operating segment revenue.
blank,no time to go back

Q3b) What is auditors responsibility in regards to chairmans statement and auditors report.
identify material inconsistent of other information with audited financial statement

Q3a) regarding the change in Ifrs 16 policy, did people say that because no disclosure then must qualify opinion.
the lease is material in paragraph, not reference is mistatement, material mistatement ,qualified opinion.

[accboy729]

Q1
a) Audit risks( maintenance or upgrade,related party transaction,indicator of impairment of license,segment reporting of food and beverage, control risk cyber attack,borrowing cost ,etc)
b) audit procedure for the segment reporting
c) advise how to measure the social and environment information,which will report to regulation….etc
d)benefit of use of data analytic for audit work

Q2
a)evaluation of 2 issues.and implication on completion and impact on audit report
(Sale of division after year end,IFRS5 ,discontinued operation,discloure,possible of smoothing profit)(change of IFRS 16 about not reference the change of accounting policies ,IFRS 1 ? not sure)
b)responsibility of auditor in other information& impact on auditor’s report
2 inconsistent (first is stating that the division which will sale next year will continue to grow better performance,second is statement about they claim that they all using recycled paper ,which is not in case)
also claim that auditor has confirm their view in something …….in chairman’s statement

Q3
a)Comments on planning of audit, ethical And professional matters during quality control review and further actions
(going concern let junior do,partner involved only 2 hours in whole audit,manager claim her work is final review,partner become eighth year of the listed company,partner’s suspicious behaviour with client

b)Evaluation of issues to be considered before accepting the Audit of the Group
(low fee as possible, 60% is foreign subsidiaries which we won’t audit it, given one remote foreign business but not company not subject to audit,2 media claim that the integrity probably not good-incentive payment which maybe corruption,another forgot

[accboy729]

Crypto just holding the 45% share but not voting rights and Crypto can appoint 4 board member which is half of the board…i think this is different case

[accboy729]

for q4, i wondering that is it the same for EBITDA and debt to earning before interest,tax,depreciation and Amortisation ?
i get confused when i see the question..

about the veto,i follow the IFRS 11, i think if i can veto the decision but other 4 board member can stand together to veto my decision too….so i believed it doesn’t control….

[accboy729]

the question 3 stated the decision is made on majority ,so the Crypto didn’t control it,but can prevent other making the decision………………….

[accboy729]

for q3 ,i state that it is a joint arrangement because the require of unanimous consent,where the company can prevent others from making operating decision due to it hold the half members of board…….so unanimous consent exists and joint control exists too…. am i right?

I state that interest charged to PL will decreases the dividend capacity to investor….is it OKAY??

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