——The client said he had to send a monitor back three times before the problem was solved Do you have a reason for this?——().

更多“——The client said he had to se…”相关的问题

第1题

2 It was the final day of a two-week-long audit of Van Buren Company, a longstanding clien

t of Fillmore Pierce Auditors.

In the afternoon, Anne Hayes, a recently qualified accountant and member of the audit team, was following an audit

trail on some cash payments when she discovered what she described to the audit partner, Zachary Lincoln, as an

‘irregularity’. A large and material cash payment had been recorded with no recipient named. The corresponding

invoice was handwritten on a scrap of paper and the signature was illegible.

Zachary, the audit partner, was under pressure to finish the audit that afternoon. He advised Anne to seek an

explanation from Frank Monroe, the client’s finance director. Zachary told her that Van Buren was a longstanding client

of Fillmore Pierce and he would be surprised if there was anything unethical or illegal about the payment. He said

that he had personally been involved in the Van Buren audit for the last eight years and that it had always been

without incident. He also said that Frank Monroe was an old friend of his from university days and that he was certain

that he wouldn’t approve anything unethical or illegal. Zachary said that Fillmore Pierce had also done some

consultancy for Van Buren so it was a very important client that he didn’t want Anne to upset with unwelcome and

uncomfortable questioning.

When Anne sought an explanation from Mr Monroe, she was told that nobody could remember what the payment

was for but that she had to recognise that ‘real’ audits were sometimes a bit messy and that not all audit trails would

end as she might like them to. He also reminded her that it was the final day and both he and the audit firm were

under time pressure to conclude business and get the audit signed off.

When Anne told Zachary what Frank had said, Zachary agreed not to get the audit signed off without Anne’s support,

but warned her that she should be very certain that the irregularity was worth delaying the signoff for. It was therefore

now Anne’s decision whether to extend the audit or have it signed off by the end of Friday afternoon.

Required:

(a) Explain why ‘auditor independence’ is necessary in auditor-client relationships and describe THREE threats

to auditor independence in the case. (9 marks)

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第2题

1 Rowlands & Medeleev （R&M), a major listed European civil engineering company, wa

1 Rowlands & Medeleev (R&M), a major listed European civil engineering company, was successful in its bid to become

principal (lead) contractor to build the Giant Dam Project in an East Asian country. The board of R&M prided itself in

observing the highest standards of corporate governance. R&M’s client, the government of the East Asian country, had

taken into account several factors in appointing the principal contractor including each bidder’s track record in large

civil engineering projects, the value of the bid and a statement, required from each bidder, on how it would deal with

the ‘sensitive issues’ and publicity that might arise as a result of the project.

The Giant Dam Project was seen as vital to the East Asian country’s economic development as it would provide a

large amount of hydroelectric power. This was seen as a ‘clean energy’ driver of future economic growth. The

government was keen to point out that because hydroelectric power did not involve the burning of fossil fuels, the

power would be environmentally clean and would contribute to the East Asian country’s ability to meet its

internationally agreed carbon emission targets. This, in turn, would contribute to the reduction of greenhouse gases

in the environment. Critics, such as the environmental pressure group ‘Stop-the-dam’, however, argued that the

project was far too large and the cost to the local environment would be unacceptable. Stop-the-dam was highly

organised and, according to press reports in Europe, was capable of disrupting progress on the dam by measures such

as creating ‘human barriers’ to the site and hiding people in tunnels who would have to be physically removed before

proceeding. A spokesman for Stop-the-dam said it would definitely be attempting to resist the Giant Dam Project when

construction started.

The project was intended to dam one of the region’s largest rivers, thus creating a massive lake behind it. The lake

would, the critics claimed, not only displace an estimated 100,000 people from their homes, but would also flood

productive farmland and destroy several rare plant and animal habitats. A number of important archaeological sites

would also be lost. The largest community to be relocated was the indigenous First Nation people who had lived on

and farmed the land for an estimated thousand years. A spokesman for the First Nation community said that the ‘true

price’ of hydroelectric power was ‘misery and cruelty’. A press report said that whilst the First Nation would be unlikely

to disrupt the building of the dam, it was highly likely that they would protest and also attempt to mobilise opinion in

other parts of the world against the Giant Dam Project.

The board of R&M was fully aware of the controversy when it submitted its tender to build the dam. The finance

director, Sally Grignard, had insisted on putting an amount into the tender for the management of ‘local risks’. Sally

was also responsible for the financing of the project for R&M. Although the client was expected to release money in

several ‘interim payments’ as the various parts of the project were completed to strict time deadlines, she anticipated

a number of working capital challenges for R&M, especially near the beginning where a number of early stage costs

would need to be incurred. There would, she explained, also be financing issues in managing the cash flows to R&M’s

many subcontractors. Although the major banks financed the client through a lending syndicate, R&M’s usual bank

said it was wary of lending directly to R&M for the Giant Dam Project because of the potential negative publicity that

might result. Another bank said it would provide R&M with its early stage working capital needs on the understanding

that its involvement in financing R&M to undertake the Giant Dam Project was not disclosed. A press statement from

Stop-the-dam said that it would do all it could to discover R&M’s financial lenders and publicly expose them. Sally

told the R&M board that some debt financing would be essential until the first interim payments from the client

became available.

When it was announced that R&M had won the contract to build the Giant Dam Project, some of its institutional

shareholders contacted Richard Markovnikoff, the chairman. They wanted reassurance that the company had fully

taken the environmental issues and other risks into account. One fund manager asked if Mr Markovnikoff could

explain the sustainability implications of the project to assess whether R&M shares were still suitable for his

environmentally sensitive clients. Mr Markovnikoff said, through the company’s investor relations department, that he

intended to give a statement at the next annual general meeting (AGM) that he hoped would address these

environmental concerns. He would also, he said, make a statement on the importance of confidentiality in the

financing of the early stage working capital needs.

(a) Any large project such as the Giant Dam Project has a number of stakeholders.

Required:

(i) Define the terms ‘stakeholder’ and ‘stakeholder claim’, and identify from the case FOUR of R&M’s

external stakeholders as it carries out the Giant Dam Project; (6 marks)

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第3题

A certain lawyer lived in a city in the north of India.One day he had his photograph

taken.In the photograph he appeared wearing English clothes, coat, waistcoat, trousers.boots collar and tie.And over them was his lawyer's gown.And his two hands were in his trouser pockets.

He was pleased with the photograph, and used to show it to his friends.All of them praised it, and said it was very good and very life-like.

One day he was showing the photograph to some of his friends in his office.As they were looking at it, a Pathan (帕坦人), who had just appeared in a case, came in.

He also looked at the photograph, and they asked him how he liked it.

“Not at all,” replied the Pathan.“It is not at all life-like.”

“Why？ What is the matter？” they all cried.“We think it a very good likeness.What fault do you find with it？”

“Well, just look at it,” he replied.“Where are the man's hands？”

“They are in his pockets,” said they.

“In whose pockets？” asked the Pathan.

“In his own, of course,” replied they.

“Well, that is just where the picture is wrong.I know it to my cost.His hands should be in someone else's pockets.”

1.From the passage we may infer that().

A.the lawyer was good-looking but he didn't come out well in that photo

B.the lawyer was a good-natured gentleman who knew how to take a joke

C.the lawyer's greed led him to charge his client far too much

D.the lawyer was found to have stolen from people's pockets

2.The Pathan().

A.played a joke on the lawyer

B.found out what the lawyer was realy like

C.tried to turn the lawyer's friends against him

D.was always finding fault with lawyers

3.The Pathan learned where the picture was wrong from().

A.the lawyer's friends

B.his own experience

C.the lawyer's clients

D.the lawyer himself

4.The word "life-like" in the second paragraph means().

A.alike

B.living

C.like a good-looking person

D.very much like the person presented

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第4题

This information was taken from an internal newsletter of The Knowledge Partnership LLP （T

This information was taken from an internal newsletter of The Knowledge Partnership LLP (TKP), a company which offers project and software consultancy work for clients based in Zeeland. The newsletter was dated 2 November 2014 and describes two projects currently being undertaken by the partnership.

Project One

In this project, one of our clients was just about to place a contract for a time recording system to help them monitor and estimate construction contracts when we were called in by the Finance Director. He was concerned about the company supplying the software package. ‘They only have an annual revenue of $5m’, he said, ‘and that worries me.’ TKP analysed software companies operating in Zeeland. It found that 200 software companies were registered in Zeeland with annual revenues of between $3m and $10m. Of these, 20 went out of business last year. This compared to a 1% failure rate for software companies with revenues of more than $100m per year. We presented this information to the client and suggested that this could cause a short-term support problem. The client immediately re-opened the procurement process. Eventually they bought a solution from a much larger well-known software supplier. It is a popular software solution, used in many larger companies.

The client has now asked us to help with the implementation of the package. A budget for the project has been agreed and has been documented in an agreed, signed-off, business case. The client has a policy of never re-visiting its business cases once they have been accepted; they see this as essential for effective cost control. We are currently working with the primary users of the software – account managers (using time and cost data to monitor contracts) and the project support office (using time and cost data to improve contract estimating) – to ensure that they can use the software effectively when it is implemented. We have also given ‘drop in’ briefing sessions for the client’s employees who are entering the time and cost data analysed by the software. They already record this information on a legacy system and so all they will see is a bright new user interface, but we need to keep them informed about our implementation. We are also looking at data migration from the current legacy system. We think some of the current data might be of poor quality, so we have established a strategy for data cleansing (through offshore data input) if this problem materialises. We currently estimate that the project will go live in May 2015.

Project Two

In this project, the client is the developer of the iProjector, a tiny phone-size projector which is portable, easy to use and offers high definition projection. The client was concerned that their product is completely dependent on a specialist image-enhancing chip designed and produced by a small start-up technology company. They asked TKP to investigate this company. We confirmed their fears. The company has been trading for less than three years and it has a very inexperienced management team. We suggested that the client should establish an escrow agreement for design details of the chip and suggested a suitable third party to hold this agreement. We also suggested that significant stocks of the chip should be maintained. The client also asked TKP to look at establishing patents for the iProjector throughout the world. Again, using our customer contacts, we put them in touch with a company which specialises in this. We are currently engaged with the client in examining the risk that a major telephone producer will launch a competitive product with functionality and features similar to the iProjector.

The iProjector is due to be launched on 1 May 2015 and we have been engaged to give advice on the launch of the product. The launch has been heavily publicised, a prestigious venue booked and over 400 attendees are expected. TKP have arranged for many newspaper journalists to attend. The product is not quite finished, so although orders will be taken at the launch, the product is not expected to ship until June 2015.

Further information:

TKP only undertakes projects in the business culture which it understands and where it feels comfortable. Consequently, it does not undertake assignments outside Zeeland.

TKP has $10,000,000 of consultant’s liability insurance underwritten by Zeeland Insurance Group (ZIG).

Required:

(a) Analyse how TKP itself and the two projects described in the scenario demonstrate the principles of effective risk management. (15 marks)

(b) Describe the principle of the triple constraint (scope, time and cost) on projects and discuss its implications in the two projects described in the scenario. (10 marks)

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第5题

The client may win in court, but at the_______of destroying the business relationship, he says.

A. money

B. pay

C. expense

D. loss

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第6题

Client: Hello. May I speak to Mr. Black？Secretary:_______A: Speaking, pleaseB: I ’m sor

Client: Hello. May I speak to Mr. Black？

Secretary:_______