EDU91 🕘 история названий (1)

"A multinational corporation is planning a merger with a local firm in a developing country. The local firm’s community has high stakes in maintaining local employment and environmental standards but possesses low power in formal negotiations. How should the corporation categorize this stakeholder? "

"CA. Arvind and CA. Deepak were jointly appointed as auditors of Pullcord Ltd. to ensure efficient audit and reporting, Arvind and Deepak took the following steps: (i) After identification and allocation of work among themselves, the work allocation document was signed by both of them. Since in any case they were jointly responsible, they did not think it necessary to inform those charged with governance about the allocation. (ii) They decided to obtain a common engagement letter since their appointment was common. (iii) Since their area of work was different, they decided to obtain a separate management representation letter so as not to mix up the matters. "

"During the audit of QRS Ltd. for the year ended 31 March 2026, the auditor observed that management had changed the method of depreciation from Written Down Value Method to Straight Line Method. The change was applied in the current year and disclosed in the notes to accounts. The auditor also reviewed whether the financial statements appropriately summarised the transactions and events recorded and evaluated the judgments made by management in selecting and applying accounting policies consistently. In the above case, which of the following represents the auditor’s responsibility while evaluating the financial statements? (a) To select the most appropriate accounting policies for the entity. (b) To prepare and present the financial statements in accordance with applicable statutory requirements. (c) To change the accounting policies where they do not reflect true and fair view. (d) To ensure that accounting policies selected by management are evaluated for appropriateness and consistent application and that relevant information is properly disclosed."

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"Which of the following statements is not included in the section with the heading “Basis for Opinion” in the Auditor’s Report? (a) Audit was conducted in accordance with the Accounting Standards. (b) Auditor is independent of the entity in accordance with the relevant ethical requirements relating to the audit and has fulfilled the auditor’s other ethical responsibilities in accordance with these requirements. (c) Description of the auditor’s responsibilities under the SAs. (d) States whether the auditor believes that the audit evidence the auditor has obtained, is sufficient and appropriate to provide a basis for the auditor’s opinion"

StrideX Footwear Ltd. is planning to strengthen its position in the sports shoe market. Before acquiring a smaller rival, the management wants to identify competitor groups based on their pricing strategies and product range to locate firms with weak competitive positions. Which strategic tool would be most useful for this purpose?

"GAMA & Associates, was appointed as the statutory auditor of SARA Ltd., an unlisted company engaged in paper manufacturing. During the audit, the following observations were made: Observation 1: A major flood during the year damaged one of the company’s warehouses, resulting in losses. The management has adequately disclosed the same in the financial statements and considers the loss to be not material. Observation 2: Due to the flood, certain transaction records were completely destroyed, and no duplicate records were maintained. The impact of this matter is material but not pervasive. Under which heading GAMA and Associates should report Observation 1 and 2 in the audit report. "