[saif2589]

Challenging the ED on his view about responsible leadership on wider stakeholders And public interest?

Was the question something like this? If not then we had different requirements?

[saif2589]

for the benefits of QH and stakeholders of benefits of protecting the environment with a wider view on public interest?

We had to write both the benefits to stakeholders and QH?

What did you write?are my above points correct ?

[saif2589]

seperation of audit/risk committee slides i wrote
benefits
-independence of thought and decision not involved in self interest threat
-segregation of duties as both committies duties will be divided
-reduces conflict of interest as both committes would know who they would be accountable to
challenges
-unity of both committee rather than one committee
-more knowledge and skills would be spread if both committies are joined

[saif2589]

True, one final thing for the benefits of QH and stakeholders of benefits of protecting the environment with a wider view on public interest?

We had to write both the benefits to stakeholders and QH?

Such as the benefit to government would be that they can implement a low cost fee to the garden which would generate revenue for them and could be used for other beneficial purpose for other stakeholders such as free education and health

The people could use the garden for excercise which reduces illness and diesease

Good community place would increase public awareness which would increase investors confidence and they would invest in QH leading to high profits

Does this make sense? Are the points correct ?

[saif2589]

Idk maybe I’m wrong but I still feel that skills of worker, the climate and government planning would play a vital role in achieving the objectives of OH in order to build sustainable and good quality housing

[saif2589]

Getting skilled workforce and availability of land are strategic objectives for QH and without those two resources the company can’t run

Clarify me if I’m wrong?
What did you write?

[saif2589]

Thanks, what about the risk and mitigation. For that I wrote

Loss of workforce
Due to the economic condition within the country there could be recession due to which it would be difficult to find skillful workforce and recession would lead to unemployment

Mitigation
To develop the skills and expertise and ensure that the workforce last within the company for a longer period of time to utilities there skills for longer

Climate change
Due to change in the weather climiatr it could be difficult to construct houses such as in rainy weather

Mitigation
To ensure workforce has being provided with necessary work equipment such as safety boot and jackets

Availability of land
As QH is planning to construct houses on green spaces and gardens there could be lack of availability of land

Mitigation
To consult with government and local council for get permission for the availability of land m
Hope this is correct as well?

[saif2589]

b) challenging the ED on his view about responsible leadership on wider stakeholders And public interest stating to QH why environment is important to them?

I think they were building houses on community garden and green space.

[saif2589]

2) seperation of audit/risk committee slides i wrote
benefits
-independence of thought and decision not involved in self interest threat
-segregation of duties as both committies duties will be divided
-reduces conflict of interest as both committes would know who they would be accountable to
challenges
-unity of both committee rather than one committee
-more knowledge and skills would be spread if both committies are joined

3) for public interest question i wrote.
-the community garden would protect many animals /trees and envrioment
-the community garden could have a low cost fees where government would get the return as it could be used for other beneficial purpose such as free education/health
-protecting the envrioment would increase public awareness for QH. this in turn would allow investors to invest in the company leading to high profits

[saif2589]

What did you guys write for the presentation slides of separating the committees?

[saif2589]

how to address the stakeholders by not focusing on annual reporting? i wrote about the power and interest and how to report them is:
-customers could be dealt through website as they check the houses online and make payment. There power & interest is low
-government could be dealt through letter if there is any issue regarding the availability of land or restrictions
-Suppliers could be dealt though email if supplies such as safety boot and equipments are not supplied on time for the construction of houses. There power is low but impact is high
-investors/bod/ceo needs to be address in annual reporting as they are involved in performance of the company. There power and interest is high

Hope I’m correct ?

[saif2589]

For stakeholder question I used power/interest and how to approach them apart from focusing a lot on annual reporting I used the form of email, letter, website. Am I correct ?

[saif2589]

is my stakeholder answer correct regarding how to approach stakeholders?

[saif2589]

what did you guys wrote and identify principle risk and mitigations?

[saif2589]

what i wrote is not according to the sequence of the questions in the exam. btw are my points correct?

[saif2589]

fory cyber security i wrote

-logical access control such as username/password for online portal
-Contingency control by having backup for the data and disaster recovery plan
-application control which means that the software used within the online portal would be corrupted and infected as it shows that application software is from a reputable supplier

[saif2589]

1)how to address the stakeholders by not focusing on annual reporting? i wrote
-customers could be dealt through website as they check the houses online and make payment
-government could be dealt through letter if there is any issue regarding the availability of land or restrictions
-Suppliers could be dealt though email if supplies such as safety boot and equipments are not supplied on time for the construction of houses.
-investors/bod/ceo needs to be address in annual reporting as they are involved in performance of the company.

2) seperation of audit/risk committee slides i wrote
benefits
-independence of thought and decision not involved in self interest threat
-segregation of duties as both committies duties will be divided
-reduces conflict of interest as both committes would know who they would be accountable to
challenges
-unity of both committee rather than one committee
-more knowledge and skills would be spread if both committies are joined

3) for public interest question i wrote.
-the community garden would protect many animals /trees and envrioment
-the community garden could have a low cost fees where government would get the return as it could be used for other beneficial purpose such as free education/health
-protecting the envrioment would increase public awareness for QH. this in turn would allow investors to invest in the company leading to high profits

Hope this is correct

[saif2589]

For the first question the benefits and drawbacks of corporate structures, the benefits that I wrote for 1)The board was able to take long term decisions and due to neds working in the board it would ensure that the independence won’t be threatened 2) it is used to ensure that fair remuneration is given to the staff 3) the members who hasn’t worked for this board gets staffed this would be beneficial as oversees knowledge would come within the firm leading to more ideas and skills. 1) it is used to ensure that internal controls and working effectively and ensure that quality control procedures are in place with voluntary disclosures to ensure everything is running smoothly2) it is used to implement risk management policies and identify risk and to mitigate it 3) the member of the board is elected due to voting this would be beneficial as fair and independent member would be elected with the Satisfaction of other board members etc.4) to ensure that constructive relationship with the clients and other stakeholders are built. This could be done by ensuring that proper social and environmental auditing is conducted which ensures that the company is working in a fair and environmental friendly way. This would allow investors and other stakeholders to invest in the company leading to increased market share. The drawbacks which I mentioned was that these two boards are working separately so there is no unity of one leader but rather separation of two leaders and if both combines them there would be more ideas and knowledge which isn’t happened. Hope this is correct as well ?

[saif2589]

For the ethics questions related to accounting software and hardware is it fine to identify the self review and familarity threat without specifically using those words? And it said ethical principle so do we had to use the words like integrity and professional competencies and due car

[saif2589]

For the ethics questions related to accounting software and hardware is it fine to identify the self review and familarity threat without specifically using those words? And it said ethical principle so do we had to use the words like integrity and professional competencies and due care ?

[saif2589]

We’re there 2 versions of aaa paper or everyone got the same question ?

[saif2589]

So what I’ve written for grant and intangible asset makes sense ?

[saif2589]

Ok and Just tell me one thing according to ifrs can the fv measurable both intangible asset and nci ? That would be proportionate and full goodwill ? Cause intangible asset contains fv of identifiable asset hence proportionate method of goodwill would be used. Where’s nci is measured at full goodwill fv at consideration less fv of nci. According to ifrs 10 consolidated financial statement. is this correct ? Both intangible asset and nci are measured at fv but it’s divided into fv full goodwill and proportionate method Does this make sense ?

[saif2589]

That’s only if it’s SMEs. If the company is large or medium the revaluation and cost both the models can be applied to intangible asset

[saif2589]

What have you guys written for intangible asset and grant for emission? The points I wrote is according to ias 20 government grant is to transfer the resources to the firm in order to meet future compliance. The emission would be accounted with p and l and would need to consider the cost of the service as well. According to is 38 intangible assets and non monetary physical substance. Emission would be measured at revolution model which is cost less accumuled depreciation and impairment losses instead of cost model since emission is a non physical substance that does not contain cost. Is this correct as well ?

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