Yuna Kim, CPA, was recently hired to audit Sochi Inc.'s financial statements for the fiscal year ending December 31, 2014. She then continued to conduct test of controls related to conducting test of controls of the expenditure (acquisition and disbursements) activities after acquiring an understanding of the client's accounting and internal control structures and their operation.
The following example pertains to the spending cycle's test of controls:
Yuna Kim intends to analyze cash disbursement by selecting a sample using systematic selection with a random start. What is the primary value of this kind of selection?
In addition, the client's materials-purchasing period starts with requisitions from user agencies and ends with the receipt of materials and acknowledgment of a liability. What is the primary aim of this cycle's review?
The division controller's office presented Yuna Kim with a schedule listing the creditors and the amount owed to each at December 31, 2014, after auditing the client's accounts payable balance of one of the client's divisions. What is the most efficient audit method for ensuring that no account payables are absent from the schedule?
The company's disbursements are processed by an automated accounts payable system. The internal auditor of the company needs to match the accounts payable balance in the firm's month-end trial balance report to the master account payable file on magnetic tape. What are the right auditing methods to use in this situation?
Yuna Kim also intends to investigate the client's obtaining reports. Why is this required?
11. Define each, and explain the difference, if any, between arbitration, and mediation. Explain the roles that each of the branches of the federal government fulfills by name. 12. A third person not in privity with the persons who stand in privity can enforce the contract only if he is a beneficiary of the contract. Name an example of such a contract.Question 3 What are the differences between right issues and bonus issues? Your answer should include the advantages and disadvantages of both right issues and bonus issues. [8 marks] Question 4 The Companies Act 2016 repealed the Companies Act 1965 and changed the landscape of company law in Malaysia. The Companies Act 2016 reformed almost all aspects of company law in Malaysia. Required: By referring to the Companies Act 2016, insert the correct sections in column (A) for each description in column B. LU16 known liabilities. The result is that EME governments pay a premium to investors for the risk of their holding relatively illiquid securities. Not all these factors are outside control of the debt manager. The need for coordination between the different agencies involved has already been stressed. But the debt manager has a direct role through the design of the issuance plan, and of the primary market. Central to this is the issuance of benchmark securities: large lines of T-bonds at key tenors. The large size improves the potential for wider distribution of the security among different types of investors with different incentives to trade, thereby increasing trading opportunities; it reduces search cost for those who want to buy; and it makes it less likely that any one transaction will change the market price. All these characteristics reduce the liquidity premium demanded by the market. EME government issuers are increasingly adopting a benchmark issuance policy to build sufficiently large lines of T-bonds as a necessary first step to foster secondary market activity. That in turn usually requires the being able to issue successive tranches of the same bond; and it brings into relief the ability to deploy liability management operations (LMOs). LMOs, whether buybacks or bond exchanges, can be used to build up a liquid bond of the chosen tenor; and also manage the cash management challenges as the larger bonds comes to maturity (see below). Predictability and transparency are the other essential characteristics of the issuance plan. The plan should be published-typically as part of the ABP and published with other documents supporting the annual budget. Investors will in turn be able to plan their own portfolios; and intermediaries their marketing strategies. Once it is published the issuer should try and keep to the plan-otherwise the benefits of publishing it are vitiated. Plans sometimes have to be changed, not least if the government's borrowing requirement changes in the course of the year. But it should be done in a way that is predictable - in the sense of consistency with previous policies. Indeed, "predictability" should be interpreted as predictability of policy responses: markets do not like surprises and the debt manager's decisions should be anchored back to well-defined and transparent objectives. Some countries also indicate at the start of the year the direction of any changes that might be necessary during the year.According to China's Company law, who of the following persons could be eligible for appointment as a director, supervisor or senior manager of a company? A. A person who has been convicted crime of corruption B. A physical disabled person who has full civil capacity C. A former director of a company which has been declared bankrupt where he was personally responsible for the bankruptcy D. A person who has significant unpaid debts. pen Snarllo ads agist of H 8. Which of the following FIE forms is not a legal person? A. CJV B.EJV may face C. Branch office D.IHC how of villion ed meet viewing aved of bermilos ed or carolina witt 9. According to China's company law, a company may not purchase its own shares in which of the following circumstances. A. to reduce the registered capital B. to merge with another company that holds its shares C. to reward the staff of the company with shares D. to escape some tax Page 2 7 pages in total
