2018年12月ACCA考试P7高级审计与认证业务真题(总分：100.00，做题时间：195分钟)一、案例分析题(总题数：0，分数：0.00)Section A(总题数：1，分数：50.00)1.You are a manager in the audit department of Huntsman & Co, a firm of Chartered Certified Accountants, responsible for the audit of several companies and for evaluating the acceptance decisions in respect of potential new audit clients.One of your audit clients is Redback Sports Co, which operates a chain of sport and leisure centres across the country. The company has a financial year ending 28 February 20X9, and you are about to start planning the audit. Stella Cross, the audit engagement partner, met with the companys finance director last week to discuss business developments in the year and recent financial performance.In addition, Stella has been approached by Mick Emu, the managing director of Emu Gyms Co. Mick has enquired regarding whether Huntsman & Co can provide the company with an audit or limited assurance review, and Stella would like you to evaluate this request. Huntsman & Co already provides a payroll service to Emu Gyms Co and has assisted Mick with his personal tax planning in the past. Mick also has a suspicion that several employees are carrying out a fraud at the company, and he has asked whether an audit or limited assurance review would have alerted him earlier to the situation.You are provided with the following exhibits:1. An email you have received from Stella Cross, in respect of both Redback Sports Co and Emu Gyms Co.2. Notes of a meeting which Stella held recently with the finance director of Redback Sports Co.3. Extracts from the latest management accounts of Redback Sports Co.4. Notes of a telephone conversation which Stella had yesterday with Mick Emu, managing director of Emu Gyms Co.Required:Respond to the instructions in the email from the audit engagement partner.Note: The split of the mark allocation is shown in the partners email (Exhibit 1).Professional marks will be awarded for the presentation and logical flow of the briefing notes and the clarity of the explanations provided.Exhibit 1 Email from audit engagement partnerTo: Audit managerFrom: Stella Cross, Audit engagement partner for Redback Sports CoSubject: Audit planning for Redback Sports Co, and evaluation of accepting Emu Gyms Co as a potential audit client HelloI have provided you with some information in the form of a number of exhibits which you should use to help you with planning the audit of Redback Sports Co for the financial year ending 28 February 20X9.Using the information provided in Exhibits 2 and 3, I require you to prepare briefing notes for my own use, in which you:(a) Evaluate the business risks to be considered in planning the companys audit.(b) Evaluate the risks of material misstatement to be considered in developing the audit strategy and audit plan.(c) Design the principal audit procedures to be used in the audit of the grant received from the government in September 20X8.In Exhibit 4, I have also provided you with some information relating to Emu Gyms Co. In respect of this, in your briefing notes you should also:(d) Evaluate the matters to be considered in deciding whether to accept an engagement to provide Emu Gyms Co with an audit or limited assurance review.(e) In relation to the suspicion of fraud being carried out at Emu Gyms Co:Discuss whether an audit or limited assurance review of financial statements in previous years could have uncovered the fraud.Exhibit 2 Notes of a meeting held on 30 November 20X8Meeting attendees:Stella Cross, audit engagement partner, Huntsman & CoAneta Bay, finance director, Redback Sports CoBusiness backgroundRedback Sports Co operates 20 sport and leisure centres around the country. Each centre has a large gym and a swimming pool, and many also have tennis and badminton courts. Given the nature of the companys operations, it has to comply with health and safety regulations set by the national regulatory body, and its facilities are inspected regularly to ensure that all regulations are being followed, and for the company to retain its operating licence.The company is not listed and therefore does not need to comply with local corporate governance regulations. However, the companys chief operating officer and chairman consider it good practice to have independent input to the board, and there are two non-executive directors. One of the non-executive directors is a leisure industry expert who was chairman of a rival company, Lyre Leisure Co, for ten years. The second non-executive director is an academic who specialises in organisational behaviour and who has written several books on performance management in the sport and leisure industry.The companys board has approved a plan to expand through acquiring other leisure and sport facility providers. The strategy is not likely to be implemented for another two years, when the board would like the first acquisition to take plac