问答题

(a) Auditors are frequently required to provide assurance for a range of non-audit engagements.
Required:
List and explain the elements of an assurance engagement. (5 marks)
(b) ISA 320 Materiality in Planning and Performing an Audit provides guidance on the concept of materiality in planning and performing an audit.
Required:
Defi ne materiality and determine how the level of materiality is assessed. (5 marks)

A.
Required:
List
B.
Required:
Defi

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(a) (i) Defi ne a ‘test of control’ and a ‘substantive procedure’; (2 marks)
(ii) State ONE test of control and ONE substantive procedure in relation to sales invoicing. (2 marks)
(b) Shiny Happy Windows Co (SHW) is a window cleaning company. Customers’ windows are cleaned monthly, the window cleaner then posts a stamped addressed envelope for payment through the customer’s front door.
SHW has a large number of receivable balances and these customers pay by cheque or cash, which is received in the stamped addressed envelopes in the post. The following procedures are applied to the cash received cycle:
1. A junior clerk from the accounts department opens the post and if any cheques or cash have been sent, she records the receipts in the cash received log and then places all the monies into the locked small cash box.
2. The contents of the cash box are counted each day and every few days these sums are banked by which ever member of the fi nance team is available.
3. The cashier records the details of the cash received log into the cash receipts day book and also updates the sales ledger.
4. Usually on a monthly basis the cashier performs a bank reconciliation, which he then fi les, if he misses a month then he catches this up in the following month’s reconciliation.
Required:
For the cash cycle of SHW:
(i) Identify and explain THREE defi ciencies in the system; (3 marks)
(ii) Suggest controls to address each of these defi ciencies; and (3 marks)
(iii) List tests of controls the auditor of SHW would perform. to assess if the controls are operating effectively. (3 marks)
(c) Describe substantive procedures an auditor would perform. in verifying a company’s bank balance. (7 marks)

A.
SHW
B.
4.
C.
Required:
For

关于货币本质的观点，马克思从货币的起源揭示了货币的本质，认为货币无非是从商品中分离出来的，固定充当一般等价物的特殊商品，并能反映一定的生产关系。
根据以上资料，回答以下问题。
以下( )是关于货币与商品之间关系的正确结论。

A.货币不是商品
B.货币是特殊商品
C.货币是从商品中分离出来的
D.货币就是贵金属
关于马克思的货币本质观，下列说法正确的是(
B.它是建立在劳动价值论基础上的
B.它是以金域货币流通为基本前提条件的
C.货币是从商品中分离出来的特殊商品
D.在资本主义社会，货币转化为资本，成为剥削雇佣劳动的工具
马克思的货币的本质观与西方经济学中的重要区别在于(
C.认为货币的价值是由贵金属的价值决定的
B.认为货币作为一般等价物体现了一定的生产关系
C.认为货币是由国家政权创造的
D.认为货币只不过是'购买力的暂栖所'