4 (a) Explain the auditor’s responsibilities for other information in documents containing
4 (a) Explain the auditor’s responsibilities for other information in documents containing audited financial
statements. (5 marks)
4 (a) Explain the auditor’s responsibilities for other information in documents containing audited financial
statements. (5 marks)
(b) Explain the major benefits of pursuing a policy of internal development. (4 marks)
4 (a) Explain the meaning of the term ‘working capital cycle’ for a trading company. (4 marks)
(ii) Explain the ethical tensions between these roles that Anne is now experiencing. (4 marks)
(b) Explain in the context of Flavours Fine Foods, what is meant by:
(i) responsibility; (4 marks)
(a) Explain the concept of TRUE and FAIR presentation. (4 marks)
(b) Explain the status of International Standards on Auditing. (2 marks)
(c) ISA 230 Audit Documentation deals with the auditor’s responsibility to prepare audit documentation for an audit of financial statements.
Required:
State FOUR benefits of documenting audit work. (4 marks)
(d) Explain the term ‘environmental management accounting’ and the benefits that may accrue to organisations
which adopt it. (4 marks)
In relation to the law of tort explain:
(a) the neighbour principle; (4 marks)
(b) remoteness of damage; (4 marks)
(c) liability for economic/financial loss. (2 marks)