Name:...................................................

Student Number:.................................

Signature:............................................

THE UNIVERSITY OF

NEW SOUTH WALES

University of Accounting

ACCT3708 – Auditing and Assurance Services

ACCT3718 – Auditing and Assurance Providers

(Honours)

FINAL EXAMINATION

Program 2 - 2012

1 .

2 .

a few.

Time allowed:

2 hours

Number of questions: The exam is divided into two parts.

PART A consists of of sixteen multiple choice questions

well worth 1 tag each, in total 16 marks.

PART M is worth forty five marks and consists of three

written get suggestions. (Note that the

questions aren't of similar value)

Total exam:

56 Marks (represents 56% of final assessment)

Your concerns are compulsory.

Multiple choice questions need to be answered around the answer bed sheet. Written inquiries are to be solved in the places provided within this exam daily news. THIS PAPER MAY NOT BE MAINTAINED BY THE PROSPECT.

ANSWERS HAS TO BE WRITTEN IN INK.

BESIDES WHERE THEY MAY BE EXPRESSLY ESSENTIAL, PENCILS CAN BE

USED SIMPLY FOR DRAWING, DRAWING OR GRAPHICAL WORK.

you

PART A

MULTIPLE CHOICE QUESTIONS

(total of of sixteen marks)

This question contains sixteen (16) multiple choice questions every single worth 1 (1) mark.

• Another answer sheet is supplied.

• Thoroughly read the guidelines as provided.

• Indicate the most correct response in the spaces provided. • Please make certain you fill in the Student Number and College student Name appropriately on your response sheet.

• No marks are deducted for an incorrect response.

1 .

Your consumer has not accounted for the cost of acquisition of a material item of property grow & gear it bought during the financial year relative to AASB 116. A footnote has been included in the financial claims referring to this departure through the standard. Consequently, as auditor, your judgment will be:

(a)

(b)

Untrained with Emphasis of Matter.

(c)

Competent.

(d)

installment payments on your

Unqualified.

Negative.

Due to health and safety rules, as auditor, you have not been able to access particular locations within your client's factory. Therefore you have already been unable to view all items selected within your sample intended for testing the presence of inventory. Nevertheless, you have been capable of obtain enough appropriate taxation evidence from alternative sources. Accordingly, the audit opinion will be:

(a)

Unqualified.

(b)

Unqualified with Emphasis of Matter.

(c)

Qualified.

(d)

Disclaimer.

two

3.

The Corporations Legislation requires corporations to maintain proper books and records. Because auditor, you could have determined that your client has failed to comply with this kind of statutory need and you are not able to ascertain if its financial statements present a true and fair perspective. The probably audit opinion you will concern is:

(a)

(b)

Unqualified with Emphasis of Subject.

(c)

Competent.

(d)

4.

Adverse.

Palinode.

Immediately after 12 months end, and prior to the signing of your review opinion, a serious supplier of your client goes into liquidation. You determine that that this is going to lead to a severe deficit of supplies critical to your customer's operations, and this situation probably will last for some months. Earnings and cashflow at your client has been, marginal, at best, for a few months. The customer has recognized the going concern a significant the notes and the director's declaration but it really is still preparing its economic statements making use of the going matter basis. The audit thoughts and opinions you will concern is:

(a)

(b)

Unqualified with Other Matter.

(c)

Untrained.

(d)

5.

Unqualified with Emphasis of Matter.

Adverse.

Your customer has shown a major item of herb and tools as available for sale, and expects it to be offered within 3 months of stability date. The product is listed within Non-Current Real estate, Plant and Equipment for the balance sheet. Consequently, your examine opinion will probably be:

(a)

Untrained.

(b)...

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