[emmanuel2]

It was a fair paper. My audit risks were written each under subsidiary and the associate.
Audit risks are:
No cumulative auditor’s knowledge and experience
Opening balances may be mistated since we were just appointed.
The brands name overvalued cos its been held at original cost-no amortisation and impairment.
Stewart co. Classification as associate may be wrong despite having 25% cos the Group may not participate in the operating and financial policies. The date of acquistion is Jan so part of the profit should be taken and not the whole.
Translation risk cos of location overseas.
One sub has 200 depts- control may be weak in some depts
Bonus scheme- Rev may be overstated to get the bonus.

Just trusting in God for the best

[emmanuel2]

Q1-I used BCG with POTs being a cash cow, ?-Problem child,Econas-star, steeltown-star too cos it had a customer satisfaction rating more than the industry average, which could make it a market leader.
Future contribution of each company
The group should invest in the problem child using the Cash from cash cow and stars.

Q2-It was a bit tough for me cos i was time pressured but attempted it reasonably.

Q3_ Not bad at all.

Q4- was a no go area for me.

Overall everything was ok but believing in God for the best.
I dont see myself re-writing this paper again IJN.

[Author]

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