Financial Impact

AAA – Nov 2014 – L3 – SC – Q5 – Environmental and Sustainability Audits

Steps in the audit process to identify environmental issues and major social concerns in a company's social policy report.

Question

Green Issues

Oil and Gas Limited is a company involved in the upstream petroleum activities in the Delta Region. The restiveness of the youth in this area of operation was a result of environmental degradation of the region. Your firm has just been appointed as the auditors to the company. During the preliminary planning stage of the audit, you realised that the environmental issues could have an impact on the financial statements.

Required:

(a) Enumerate EIGHT steps you would include in the audit process in order to highlight environmental issues that may be apparent in the client’s business.

(8 Marks)

(b) Identify SEVEN major social issues that an auditor will be concerned with in a company’s social policy report. (7 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Planning, Audit Process, Delta Region, Environmental Issues, Financial Impact, Oil and gas, Social Policy Reporting, Social responsibility, Upstream Activities
Level: Level 3

Topic: Environmental and Sustainability Audits
Series: NOV 2014

SCS – May 2020 – L3 – Q8 – Identifying and assessing risk

Provide a recommendation on whether Customer Focused Ltd should accept Look and Like Ltd’s proposal, with supporting reasons.

Question

Customer Focused Ltd has received a proposal from a potential supplier, Look and Like
Ltd, to provide fresh produce (Exhibit 2a) and is considering whether to accept. Kpakpo
Armah has written a note (Exhibit 2b) about Look and Like Ltd.
Required:
Using the information available, including information you feel relevant from your answer
to Section A:

Provide a recommendation, with reasons, as to whether the proposed contract should be accepted.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Risks, Ethical considerations, Financial Impact, Recommendation
Level: Level 3

Topic: Identifying and assessing risk
Series: MAY 2020

AAA – Nov 2014 – L3 – SC – Q5 – Environmental and Sustainability Audits

Steps in the audit process to identify environmental issues and major social concerns in a company's social policy report.

Question

Green Issues

Required:

(a) Enumerate EIGHT steps you would include in the audit process in order to highlight environmental issues that may be apparent in the client’s business.

(8 Marks)

(b) Identify SEVEN major social issues that an auditor will be concerned with in a company’s social policy report. (7 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Planning, Audit Process, Delta Region, Environmental Issues, Financial Impact, Oil and gas, Social Policy Reporting, Social responsibility, Upstream Activities
Level: Level 3

Topic: Environmental and Sustainability Audits
Series: NOV 2014

SCS – May 2020 – L3 – Q8 – Identifying and assessing risk

Provide a recommendation on whether Customer Focused Ltd should accept Look and Like Ltd’s proposal, with supporting reasons.

Question

Provide a recommendation, with reasons, as to whether the proposed contract should be accepted.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Risks, Ethical considerations, Financial Impact, Recommendation
Level: Level 3

Topic: Identifying and assessing risk
Series: MAY 2020

Question Tag: Financial Impact

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AAA – Nov 2014 – L3 – SC – Q5 – Environmental and Sustainability Audits

Steps in the audit process to identify environmental issues and major social concerns in a company's social policy report.

SCS – May 2020 – L3 – Q8 – Identifying and assessing risk

Provide a recommendation on whether Customer Focused Ltd should accept Look and Like Ltd’s proposal, with supporting reasons.

AAA – Nov 2014 – L3 – SC – Q5 – Environmental and Sustainability Audits

Steps in the audit process to identify environmental issues and major social concerns in a company's social policy report.

SCS – May 2020 – L3 – Q8 – Identifying and assessing risk

Provide a recommendation on whether Customer Focused Ltd should accept Look and Like Ltd’s proposal, with supporting reasons.

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