ACCA F8（United Kingdom）历年考试真题及答案大全（2002年-2008年）
包含（2002年-2008年）ACCA F8（United Kingdom）历年考试真题及答案，文件列表如下：
Audit and Assurance
TUESDAY 12 JUNE 2007
Time allowed 3 hours
This paper is divided into two sections
Section A ALL THREE questions are compulsory and MUST
Section B TWO questions ONLY to be answered
Section A – ALL THREE questions are compulsory and MUST be attempted
1 Green Ltd grows crops on a large farm according to strict organic principles that prohibits the use of artificial pesticides
and fertilizers. The farm has an ‘organic certification’, which guarantees its products are to be organic. The certification
has increased its sales of flour, potatoes and other products, as customers seek to eat more healthily.
Green Ltd is run by two managers who are the only shareholders. Annual turnover is ￡50 million with a net profit of
5%. Both managers have run other businesses in the last 10 years. One business was closed due to suspected tax
fraud (although no case was ever brought to court).
Green Ltd’s current auditors provide audit services. Additional assurance on business controls and the preparation of
financial statements are provided by a different accountancy firm.
Last year, a neighbouring farm, Black Ltd started growing genetically modified (GM) crops, the pollen from which
blows over Green Ltd’s fields on a regular basis. This is a threat to Green Ltd’s organic status because organic crops
must not be contaminated with GM material. Green Ltd is considering court action against Black Ltd for loss of income
and to stop Black Ltd growing GM crops.
You are an audit partner in Lime & Co, a 15 partner firm of auditors and business advisors. You have been friends
with the managers of Green Ltd for the last 15 years, advising them on an informal basis. The managers of Green Ltd
have indicated that the audit will be put out to tender next month and have asked your audit firm to tender for the
audit and the provision of other professional services.
(a) Using the information provided, identify and explain the ethical threats that could affect Lime & Co.
(b) In respect of the going concern concept:
(i) Define ‘going concern’ and state two situations in which it should NOT be applied in the preparation of
financial statements; (3 marks)
(ii) Explain the directors’ responsibilities and the auditors’ responsibilities regarding financial statements
prepared on the going concern principle. (4 marks)
(c) List the audit procedures that should be carried out to determine whether or not the going concern basis is
appropriate for Green Ltd. (5 marks)