题目内容
高炉煤气着火点是()℃
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设置在稀油密封型干式煤气柜筒体上部,为防止活塞冲顶的最后一道煤气自动放散装置,称为()放散管。
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每个人睡觉前，一定不会忘记的事是什么？
Jackdaw Motor Cars Co (Jackdaw) manufactures a range of motor cars and its year end is 31 January 2015. You are the audit supervisor of Puffin & Co and are currently preparing the audit programmes for the year-end audit of Jackdaw. You have had a meeting with your audit manager and he has notified you of a number of issues identified during the audit risk assessment process.
Land and buildings
Jackdaw have a policy of revaluing land and buildings, this is undertaken on a rolling basis over a five-year period. During the year Jackdaw requested an external valuer to revalue a number of properties, including a warehouse purchased in May 2014. Depreciation is charged on a pro rata basis.
Work in progress
Jackdaw undertakes continuous production of cars, 24 hours a day, seven days a week. An inventory count is to be undertaken at the year end and Puffin & Co will attend. You are responsible for the audit of work in progress (WIP) and will be part of the team attending the count as well as the final audit. WIP constitutes the partly assembled cars at the year end and this balance is likely to be material. Jackdaw values WIP according to percentage of completion, and standard costs are then applied to these percentages.
Required:
(a) Explain the factors Puffin & Co should consider when placing reliance on the work of the independent valuer. (5 marks)
(b) Describe the substantive procedures the auditor should perform. to obtain sufficient and appropriate audit evidence in relation to:
(i) The revaluation of land and buildings and the recently purchased warehouse; and (6 marks)
(ii) The valuation of work in progress. (4 marks)
(c) During the audit, your team has identified an error in the valuation of work in progress, as a number of the assumptions contain out of date information. The directors of Jackdaw have indicated that they do not wish to amend the financial statements.
Required:
Explain the steps Puffin & Co should now take and the impact on the audit report in relation to the directors’ refusal to amend the financial statements. (5 marks)
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