2025年ACCAF8審計(jì)沖刺押題卷考試時(shí)間：______分鐘總分：______分姓名：______試卷內(nèi)容Instructions:Pleaseanswerallthequestionsinthispaper.Question1YouareanauditmanageratSterlingplc,amedium-sizedcompanypreparingitsfinancialstatementsfortheyearended31December2024forexternalpublication.Youareleadingtheauditofthefinancialstatements.Thecompanyoperatesintheretailsectorandhasasinglemainsupermarketlocation.Thekeyfinancialstatementassertionsforinventoryareexistence,rightsandobligations,valuation,andpresentationanddisclosure.Thecompanyusesaperpetualinventorysystemandstoresitsinventoryinasecurewarehouselocatednearitssupermarket.Physicalinventorycountsareperformedannuallyatyear-end.Thelatestinventoryrecordspriortotheyear-endcountshowinventoryvaluedat￡5,000,000.Theyear-endinventorycountwasperformedbythecompany'sinventorymanager,whoselectedasampleofinventoryitemsbasedontheirvalueandphysicalcharacteristics.Thecountwassupervisedbyaseniormemberoftheauditteam.Thecountedinventorywasthenimmediatelyreplacedinthewarehouse.Theinventoryrecordsindicatethatduringtheyear,inventorypurchasestotalled￡6,000,000andinventorysalestotalled￡8,000,000.Thecompany'smanagementconfirmsthatallinventorypurchasedduringtheyearwasproperlyrecordedintheinventoryrecordsandisstillinitspossessionatyear-end.Required:(a)Describetheauditobjectivefortheinventoryassertionofexistence.(b)Evaluatetheappropriatenessoftheyear-endphysicalinventorycountperformedbythecompany'sinventorymanagerasatestoftheexistenceassertionforinventory.Identifythreespecificimprovementsyouwouldrecommendtostrengthenthistestprocedure.(c)Describetwodifferentaudittestsyoucouldperformtoobtainauditevidenceabouttherightsandobligationsassertionforinventory.(d)Describehowyouwouldobtainauditevidenceaboutthevaluationassertionforinventory.Youranswershouldincludementionofthenature,timing,andextentoftheauditevidenceyouwouldobtain.Question2YouareanauditmanageratFusionLtd,acompanyinthetechnologysectorpreparingitsfinancialstatementsfortheyearended31December2024.Youareleadingtheauditofthefinancialstatements.FusionLtddevelopedandsoldacomplexsoftwareproduct.Thecompanyalsoprovidesongoingtechnicalsupportandmaintenanceservicesforitssoftwareproducts.Thekeyfinancialstatementassertionsforrevenueareoccurrence,completeness,valuation,andpresentationanddisclosure.Revenueisrecognisedupondeliveryofthesoftwareproducttothecustomer,whichtriggersthecustomer'sobligationtopay.Thecompanyusesaperpetualinventorysystemforitssoftwareproduct.Thesalespriceisfixedforeachunitofthesoftwareproduct.Thecompanydoesnotoffersignificantfinancingtermstoitscustomers.Thecompanymaintainsadetaileddatabaserecordingallsalestransactions,includingcustomerdetails,softwareproductdetails,andthedateofdelivery.Thesalesdatabaseismaintainedbythesalesdepartment.Theaccountsreceivableledgerismaintainedbythefinancedepartmentandisreconciledmonthlywiththesalesdatabase.Required:(a)Describetheauditobjectivefortherevenueassertionofoccurrence.(b)Describetwodifferentaudittestsyoucouldperformtoobtainauditevidenceaboutthecompletenessassertionforrevenue.Youranswershouldincludementionofthenatureofthetests.(c)Describehowyouwouldobtainauditevidenceaboutthevaluationassertionforrevenueforbothsoftwaresalesandongoingtechnicalsupportandmaintenanceservices.Youranswershouldincludementionofthenature,timing,andextentoftheauditevidenceyouwouldobtain.(d)Describethepotentialimpactonthefinancialstatementsifrevenueisrecognisedprematurely.ProvideanexampleofprematurerevenuerecognitioninthecontextofFusionLtd.Question3YouareanauditmanageratApexGroup,alargemultinationalcompanywithnumeroussubsidiaries.Youareleadingtheauditoftheconsolidatedfinancialstatementsfortheyearended31December2024.ApexGrouppreparesitsconsolidatedfinancialstatementsusingtheacquisitionmethod.Thegrouphastwomainoperatingdivisions:DivisionA,whichmanufacturesandsellsconsumergoods,andDivisionB,whichprovidesconsultingservices.Thekeyfinancialstatementassertionsforfixedassetsareexistence,rightsandobligations,valuation,andpresentationanddisclosure.ApexGroupacquiredDivisionBon1July2024.ThepurchasepricewasallocatedtotheidentifiableassetsandliabilitiesofDivisionBbasedonindependentvaluationsobtainedattheacquisitiondate.FixedassetsofDivisionBincludedanumberofcomputerserversusedfordataprocessing.TheseserversarelocatedatDivisionB'sheadquartersandareusedexclusivelybyDivisionB.ApexGroupdoesnothaveanylegalrightstotheseservers.Required:(a)Describetheauditobjectiveforthefixedassetassertionofrightsandobligations.(b)DescribetwodifferentaudittestsyoucouldperformtoobtainauditevidenceabouttherightsandobligationsassertionforthecomputerserversofDivisionB.Youranswershouldincludementionofthenatureofthetests.(c)DescribehowyouwouldobtainauditevidenceaboutthevaluationassertionforthefixedassetsofDivisionA.Youranswershouldincludementionofthenature,timing,andextentoftheauditevidenceyouwouldobtain.(d)IdentifytwopotentialauditrisksrelatedtotheconsolidationofthefinancialstatementsofDivisionBintotheconsolidatedfinancialstatementsofApexGroup.Describehowyouwouldobtainauditevidencetoaddresseachoftheserisks.Question4YouareanauditmanageratHorizonBank,amedium-sizedbankpreparingitsfinancialstatementsfortheyearended31December2024.Youareleadingtheauditofthefinancialstatements.HorizonBankprovidesarangeofbankingservices,includingacceptingdeposits,makingloans,andprovidinginvestmentadvice.Thekeyfinancialstatementassertionsforloansandreceivablesareexistence,rightsandobligations,valuation,andpresentationanddisclosure.HorizonBankmaintainsaloanregisterthatdetailsthetermsandconditionsofeachloan,includingtheloanamount,interestrate,repaymentschedule,andcollateral.Theloanregisterismaintainedbythecreditdepartment.Thebankperformsaninternalreviewofloanapplicationspriortoapproval.Loansaregrantedbasedonthecreditworthinessoftheborrower.Thebankdoesnotsellitsloanstothirdparties.Required:(a)Describetheauditobjectivefortheloansandreceivablesassertionofvaluation.(b)Describetwodifferentaudittestsyoucouldperformtoobtainauditevidenceabouttheexistenceassertionforloansandreceivables.Youranswershouldincludementionofthenatureofthetests.(c)Describehowyouwouldobtainauditevidenceabouttherightsandobligationsassertionforloansandreceivables.Youranswershouldincludementionofthenatureoftheauditevidenceyouwouldobtain.(d)Identifyapotentialauditriskrelatedtothevaluationassertionforloansandreceivables.Describehowyouwouldobtainauditevidencetoaddressthisrisk.Question5YouareanauditmanageratVoyagerLtd,acompanyintheshippingindustrypreparingitsfinancialstatementsfortheyearended31December2024.Youareleadingtheauditofthefinancialstatements.VoyagerLtdownsandoperatesafleetofcargoships.Thecompany'sfinancialstatementsincludeanotedisclosingitssignificantcontingentliabilities.Thekeyfinancialstatementassertionrelatedtocontingentliabilitiesisexistence.VoyagerLtdiscurrentlyinvolvedinalegaldisputewithanothercompany,OmegaInc.,regardingacollisionincidentthatoccurredinSeptember2024.Thecollisioncauseddamagetobothships.VoyagerLtd'slegaladvisorsestimatethatthepotentialfinancialliabilityarisingfromthisdisputecouldbesignificant.However,theoutcomeofthelegaldisputeisuncertainandwillnotbeknownuntilthecourtmakesadecision,whichisexpectedtobeinearly2025.VoyagerLtd'smanagementhasassessedthecontingencyandhasdiscloseditinthefinancialstatementsasacontingentliability.Required:(a)Definetheterm"contingentliability".(b)Describetheauditobjectivewhenassessingacontingentliability.(c)DescribetwodifferentaudittestsyoucouldperformtoobtainauditevidenceabouttheexistenceofthepotentialfinancialliabilityarisingfromthelegaldisputewithOmegaInc.Youranswershouldincludementionofthenatureofthetests.(d)DiscussthepotentialimpactonthefinancialstatementsifthecourtrulesagainstVoyagerLtdinthelegaldispute.Youranswershouldincludementionofthepotentialimpactonthefinancialposition,performance,andcashflows.Question6YouareanauditmanageratGalaxyLtd,acompanyinthemanufacturingsectorpreparingitsfinancialstatementsfortheyearended31December2024.Youareleadingtheauditofthefinancialstatements.GalaxyLtdoutsourcestheproductionofacomponentpartofitsmainproducttoasupplier,StarPartsLtd.GalaxyLtd'sfinancialstatementsincludenotesdisclosingitspolicyforevaluatingtheperformanceofitskeysuppliers.ThekeyauditobjectiveistoobtainauditevidenceabouttheappropriatenessofGalaxyLtd'sevaluationofStarPartsLtd'sperformance.GalaxyLtdevaluatesStarPartsLtd'sperformancebasedonthreekeyfactors:on-timedelivery,qualityofthecomponentparts,andprice.GalaxyLtd'spolicystatesthatifStarPartsLtdfailstomeettheagreed-uponstandardsinanyofthesefactorsfortwoconsecutivemonths,therelationshipwithStarPartsLtdwillbereviewed.Todate,StarPartsLtdhasmetallperformancestandards.Required:(a)DescribethenatureoftheriskofmaterialmisstatementthattheauditorisaddressingwhenobtainingauditevidenceabouttheappropriatenessofGalaxyLtd'sevaluationofStarPartsLtd'sperformance.(b)DescribetwodifferentaudittestsyoucouldperformtoobtainauditevidenceabouttheappropriatenessofGalaxyLtd'sevaluationofStarPartsLtd'sperformance.Youranswershouldincludementionofthenatureofthetests.(c)DiscussthepotentialimpactonthefinancialstatementsifGalaxyLtdcontinuestouseStarPartsLtdasitssupplierwithoutadequatelyevaluatingStarPartsLtd'sperformanceandsubsequentlyexperiencesasignificantincreaseinthecostofthecomponentpartsduetoqualityissues.(d)DescribehowyouwouldusetheresultsofyourauditteststodrawconclusionsabouttheappropriatenessofGalaxyLtd'sevaluationofStarPartsLtd'sperformance.---試卷答案Question1(a)Theauditobjectivefortheexistenceassertionforinventoryistoobtainauditevidencetoconcludewhethertheinventoryrecordedinthefinancialstatementsactuallyexistsattheyear-end.Thismeanstheauditorneedstoverifythatthephysicalinventoryitemsrecordedinthecompany'srecordsarepresentandinthecompany'spossession.(b)Theyear-endphysicalinventorycountperformedbythecompany'sinventorymanagerhaslimitations.Whileitprovidessomeevidenceabouttheexistenceofinventory,itisperformedbypersonnelwhoarepartofthecompany'sinternalcontrol,whichmayleadtoalackofindependenceandpotentialbias.Thecountisalsosupervisedbyaseniormemberoftheauditteam,whichaddssomecontrol,buttheselectionofitemsandthephysicalcountingprocessarestillunderthecontrolofthecompany.Improvements:1.Theauditorshouldobservetheinventorycountbeingperformedbytheinventorymanagerandselectasampleofinventoryitemsforre-countingindependently.Thisprovidestheauditorwithdirectevidenceabouttheexistenceofinventoryandhelpstoensurethecountisperformedaccurately.2.Theauditorshouldconsiderusingastatisticalsamplingmethodtoselecttheinventoryitemsforre-counting.Thishelpstoensurethatthesampleisrepresentativeoftheentireinventorypopulationandprovidesamorereliablebasisfordrawingconclusionsabouttheexistenceofinventory.(c)Twodifferentauditteststoobtainauditevidenceabouttherightsandobligationsassertionforinventoryare:1.Examiningthetitledocumentsfortheinventory,suchaspurchaseorders,invoices,andbillsoflading.Thisprovidesevidencethatthecompanyhaslegalownershipoftheinventory.2.Reviewingtheinventorymanagementpoliciesandproceduresofthecompany.Thisprovidesevidenceaboutthecompany'spoliciesandproceduresformanagingitsinventoryanditsrightsandobligationsregardingtheinventory.(d)Toobtainauditevidenceaboutthevaluationassertionforinventory,theauditorwouldneedtoconsiderthefollowing:Natureofevidence:Theauditorwouldneedtoobtainevidenceaboutthecostoftheinventoryandthemethodusedtovaluetheinventory.Thiscouldincludeexaminingpurchaseinvoices,inventoryrecords,andcalculatingthecostoftheinventoryusingthecompany'scostformula.Timingofevidence:Theauditorwouldneedtoobtainevidenceabouttheyear-endinventoryvaluation.Thiswouldtypicallybedoneatoraroundtheyear-end.Extentofevidence:Theauditorwouldneedtoobtainsufficientandappropriateevidencetosupporttheinventoryvaluation.Thiscouldinvolvetestingasampleofinventoryitems,examiningthecalculationsmadebythecompany,andreviewingthecompany'sinventoryvaluationpoliciesandprocedures.Question2(a)Theauditobjectivefortheoccurrenceassertionforrevenueistoobtainauditevidencetoconcludewhethertherevenuerecognisedinthefinancialstatementshasactuallyoccurredandbeenearned.Thismeanstheauditorneedstoverifythattherevenuetransactionsrecordedinthecompany'srecordsarelegitimateandhavebeenproperlyauthorised.(b)Twodifferentauditteststoobtainauditevidenceaboutthecompletenessassertionforrevenueare:1.Selectingasampleofsalestransactionsfromthesalesdatabaseandtracingthemtothecorrespondingshippingdocuments,suchasbillsofladingordeliverynotes.Thistesthelpstoensurethatallsalestransactionsthatshouldhavebeenrecordedinthesalesdatabasehavebeenrecorded.2.Reviewingthesalesandbillingrecordsofthecompanyfortheyearandcomparingthemtothesalesdatabase.Thistesthelpstoidentifyanyunrecordedsalestransactions.Natureoftests:Bothofthesetestsinvolvetracingtransactionsfromthesalesdatabasetosupportingdocumentation.Thisisacommontypeoftestusedtoobtainevidenceaboutthecompletenessofrecordedtransactions.(c)Toobtainauditevidenceaboutthevaluationassertionforrevenue,theauditorwouldneedtoconsiderthefollowing:Natureofevidence:Theauditorwouldneedtoobtainevidenceabouttheamountsrecordedforsoftwaresalesandongoingtechnicalsupportandmaintenanceservices.Thiscouldincludeexaminingsalesinvoices,contracts,andcalculatingtherevenueusingthecompany'srevenuerecognitionpolicy.Timingofevidence:Theauditorwouldneedtoobtainevidenceabouttherevenuerecognitiontiming.Thiswouldtypicallybedoneatoraroundtheperiod-end.Extentofevidence:Theauditorwouldneedtoobtainsufficientandappropriateevidencetosupporttherevenuevaluation.Thiscouldinvolvetestingasampleofrevenuetransactions,examiningthecalculationsmadebythecompany,andreviewingthecompany'srevenuerecognitionpoliciesandprocedures.Forsoftwaresales:Revenueisrecognisedupondeliveryofthesoftwareproduct.Theauditorwouldneedtoobtainevidencethatthedeliveryhasoccurred,suchassigneddeliveryreceiptsorcontracts.Forongoingtechnicalsupportandmaintenanceservices:Revenueisrecognisedovertheperiodastheservicesareprovided.Theauditorwouldneedtoobtainevidencethattheserviceshavebeenprovided,suchasservicereportsorlogs.(d)Thepotentialimpactonthefinancialstatementsifrevenueisrecognisedprematurelyisthatthefinancialstatementswilloverstaterevenueandnetincomefortheperiod,andpotentiallyoverstateassets(iftherevenueisrelatedtounearnedrevenue).Thiscanmisleadusersofthefinancialstatementsaboutthecompany'sfinancialperformanceandposition.Example:IfFusionLtdrecognisesrevenuefromsoftwaresalesbeforethedeliveryofthesoftwarehasoccurred,thefinancialstatementswilloverstaterevenueandnetincomefortheperiod.Thisisbecausethecompanyhasrecognisedrevenuethatithasnotyetearned.Question3(a)Theauditobjectiveforthefixedassetassertionofrightsandobligationsistoobtainauditevidencetoconcludewhetherthefixedassetsrecordedinthefinancialstatementsareownedbythecompanyorheldunderarightequivalenttoownership,andthecompanyhasthelegalrighttousetheassetsduringtheperiod.(b)TwodifferentauditteststoobtainauditevidenceabouttherightsandobligationsassertionforthecomputerserversofDivisionBare:1.Examiningthepurchaseinvoices,leaseagreements,orotherrelevantcontractsforthecomputerservers.Thisprovidesevidenceofthecompany'srightsandobligationsregardingtheservers.2.ReviewingthephysicallocationandsecurityofthecomputerserverstodetermineiftheyareunderthecontrolofDivisionB.Thisprovidesevidencethatthecompanyhasthelegalrighttousetheservers.Natureoftests:Bothofthesetestsinvolveexaminingdocumentationandphysicalevidencetoconfirmthecompany'srightsandobligationsregardingthefixedassets.(c)ToobtainauditevidenceaboutthevaluationassertionforthefixedassetsofDivisionA,theauditorwouldneedtoconsiderthefollowing:Natureofevidence:Theauditorwouldneedtoobtainevidenceaboutthecostofthefixedassetsandthemethodusedtovaluethefixedassets.Thiscouldincludeexaminingpurchaseinvoices,depreciationschedules,andcalculatingthedepreciationusingthecompany'sdepreciationpolicy.Timingofevidence:Theauditorwouldneedtoobtainevidenceabouttheyear-endvaluationofthefixedassets.Thiswouldtypicallybedoneatoraroundtheyear-end.Extentofevidence:Theauditorwouldneedtoobtainsufficientandappropriateevidencetosupportthefixedassetvaluation.Thiscouldinvolvetestingasampleoffixedassets,examiningthecalculationsmadebythecompany,andreviewingthecompany'sfixedassetvaluationanddepreciationpoliciesandprocedures.(d)TwopotentialauditrisksrelatedtotheconsolidationofthefinancialstatementsofDivisionBintotheconsolidatedfinancialstatementsofApexGroupare:1.Overstatementofthefinancialposition:IftheassetsofDivisionBareoverstated,theconsolidatedfinancialstatementswilloverstatethetotalassetsofthegroup.2.Understatementofthefinancialperformance:IftheliabilitiesofDivisionBareunderstated,theconsolidatedfinancialstatementswilloverstatethenetincomeofthegroup.Toaddresstheserisks,theauditorwouldneedtoobtainauditevidenceabouttheexistenceandvaluationoftheassetsandliabilitiesofDivisionB.ThiscouldinvolveexaminingthefinancialstatementsofDivisionB,performinganalyticalproceduresontheconsolidatedfinancialstatements,andperformingtestsofcontrolsandsubstantiveproceduresontheassetsandliabilitiesofDivisionB.Question4(a)Theauditobjectivefortheloansandreceivablesassertionofvaluationistoobtainauditevidencetoconcludewhethertheloansandreceivablesrecordedinthefinancialstatementsarestatedattheircorrectcarryingamounts.Thismeanstheauditorneedstoverifythattheloansandreceivablesarestatedattheirnetrealisablevalue,whichistheamountexpectedtobecollected.(b)Twodifferentauditteststoobtainauditevidenceabouttheexistenceassertionforloansandreceivablesare:1.Selectingasampleofloansandreceivablesfromtheloanregisterandtracingthemtosupportingdocumentation,suchasloanagreementsandinvoices.Thistesthelpstoensurethattheloansandreceivablesrecordedintheloanregisteractuallyexist.2.ReviewingthebankstatementsofthecustomerswhoowemoneytoHorizonBank.Thistesthelpstoidentifyanyunrecordedloansandreceivables.Natureoftests:Bothofthesetestsinvolvetracingtransactionsfromtheloanregistertosupportingdocumentationorexternalsources.Thisisacommontypeoftestusedtoobtainevidenceabouttheexistenceofrecordedtransactions.(c)Toobtainauditevidenceabouttherightsandobligationsassertionforloansandreceivables,theauditorwouldneedtoobtainevidencethatthecompanyhastherighttocollecttheamountsowedbytheborrowers.Thiscouldincludeexaminingtheloanagreements,whichcontainthetermsandconditionsoftheloans,includingtherepaymentobligationsoftheborrowers.(d)Apotentialauditriskrelatedtothevaluationassertionforloansandreceivablesisthattheloansandreceivablesmaybeoverstatedduetounrecordedbaddebts.Ifthecompanydoesnotadequatelyestimateandrecordbaddebts,thecarryingamountoftheloansandreceivableswillbeoverstated.Toaddressthisrisk,theauditorwouldneedtoobtainauditevidenceabouttheadequacyofthecompany'sbaddebtestimationmethodologyandtheactualcollectabilityoftheloansandreceivables.Thiscouldinvolvereviewingthecompany'sbaddebtpolicy,performinganalyticalproceduresontheaccountsreceivable,andperformingsubstantiveproceduresonasampleofaccountsreceivable,suchasconfirmingthemwiththecustomers.Question5(a)Acontingentliabilityisapotentialliabilityarisingfrompastevents,theexistenceofwhichwillonlybeconfirmedonlybytheoccurrenceornon-occurrenceofoneormoreuncertainfutureeventsnotwhollywithinthecontroloftheentity.(b)Theauditobjectivewhenassessingacontingentliabilityistoobtainauditevidencetoconcludewhetherthepotentialobligationexistsandwhetheritshouldberecognisedordisclosedinthefinancialstatements.(c)TwodifferentauditteststoobtainauditevidenceabouttheexistenceofthepotentialfinancialliabilityarisingfromthelegaldisputewithOmegaInc.are:1.Reviewingthelegaldocumentsrelatedtothedispute,suchasthelawsuitfiledbyOmegaInc.Thisprovidesevidenceofthenatureandscopeofthelegaldispute.2.Interviewingthecompany'slegaladvisorstoobtaintheirassessmentofthepotentialfinancialliability.Thisprovidesevidenceofthecompany'sunderstandingofthelegaldisputeanditspotentialoutcome.Natureoftests:Bothofthesetestsinvolveexaminingdocumentationandinterviewingpersonneltoobtainevidenceaboutthelegaldisputeanditspotentialimpactonthecompany.(d)ThepotentialimpactonthefinancialstatementsifthecourtrulesagainstVoyagerLtdinthelegaldisputeisthatthecompanywillhavetorecognisealiabilityforthedamagesawardedbythecourt.Thiswillreducethecompany'sassetsandequity,andpotentiallyreduceitscashflowsiftheliabilityneedstobepaidincash.Thefinancialpositionwillbeaffectedasthecompanywillhaveanewliabilityandreducedequity.Theperformancewillbeaffectedastheliabilitywillresultinanexpense,whichwillred