It may be able to come up with solutions much faster.

A.thinking abilities

B.communicate

C.problem solving

D.opportunities

(a) State the FIVE threats contained within ACCA’s Code of Ethics and Conduct and for each threat list ONE example of a circumstance that may create the threat. (5 marks)

(b) You are the audit manager of Jones & Co and you are planning the audit of LV Fones Co, which has been an audit client for four years and specialises in manufacturing luxury mobile phones.

During the planning stage of the audit you have obtained the following information. The employees of LV Fones Co are entitled to purchase mobile phones at a discount of 10%. The audit team has in previous years been offered the same level of staff discount.

During the year the fi nancial controller of LV Fones was ill and hence unable to work. The company had no spare staff able to fulfi l the role and hence a qualifi ed audit senior of Jones & Co was seconded to the client for three months. The audit partner has recommended that the audit senior work on the audit as he has good knowledge of the client. The fee income derived from LV Fones was boosted by this engagement and along with the audit and tax fee, now accounts for 16% of the fi rm’s total fees.

From a review of the correspondence fi les you note that the partner and the fi nance director have known each other socially for many years and in fact went on holiday together last summer with their families. As a result of this friendship the partner has not yet spoken to the client about the fee for last year’s audit, 20% of which is still outstanding.

Required:

(i) Explain the ethical threats which may affect the independence of Jones & Co’s audit of LV Fones Co; and (5 marks)

(ii) For each threat explain how it might be avoided. (5 marks)

(c) Describe the steps an audit fi rm should perform. prior to accepting a new audit engagement. (5 marks)

A.More, better

B.The more, the better

C.Best, most

A.resist

B.insist

C.assist

D.persist

If the old are left to do as much as they can for themselves, ______.

A．they may keep human dignity and enjoy the respect of the fellows

B．they won't feel hurt or humiliated

C．they will be able to develop their brains and muscles

D．they will be able to keep their minds and muscles active

We may not be able to _____ the information that we have _____.

A.remember ⋯recalled

B.recall ⋯remembered

C.remember ⋯reminded

D.remind ⋯remembered

A、may be able to improve either economic efficiency or equality.

B、may be able to improve economic efficiency but cannot improve equality.

C、may be able to improve equality but cannot improve economic efficiency.

D、cannot improve either equality or economic efficiency.

By observing the behavior. of animals, scientists may be able to

A．prevent disasters.

B．organize groups of people.

C．predict earthquakes.

D．control areas of California.