Tendering – NBC Institute

AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing

This question explains the technique of "low-balling" used by audit firms when tendering for audit engagements and its potential ethical implications.

Question

Explain briefly the technique used by an audit firm known as “low-balling” when it tenders for audit work.

Answer

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Tags: Audit Fees, Competition in Auditing, Ethical Issues, Low-balling, Tendering
Level: Level 2

Topic: Ethical Issues in Auditing
Series: NOV 2016

PSAF – April 2022 – L2 – Q4 – Public Procurement

Discuss reasons for tender failure, explain procurement terms, and account for elements under IPSAS 32: Service Concession - Grantor.

Question

a) Banky Construction Ltd has tendered for several contracts that were advertised, but in each case, they failed to win these contracts. The company is now worried about their situation, as it may lead to the liquidation of the company. They have just contacted you for advice on how to reverse this unfortunate downturn.

Required:
Explain FOUR (4) challenges that are likely to be the reason why they are failing to win contracts. (4 marks)

b) Explain the following terms and practices as used in Public Procurement:
i) Tender Security
ii) Least Cost Selection
iii) Tender Evaluation Panel
iv) Board of Survey
(6 marks)

c) Discuss how each of the elements of Financial Statements listed below are recognized and measured under IPSAS 32: Service Concession – Grantor:
i) Service concession asset
ii) Liability
iii) Revenue
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: IPSAS 32, Public Procurement, Service Concession, Tendering
Level: Level 2

Topic: Public Procurement
Series: APR 2022

AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing

This question explains the technique of "low-balling" used by audit firms when tendering for audit engagements and its potential ethical implications.

Question

Explain briefly the technique used by an audit firm known as “low-balling” when it tenders for audit work.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Fees, Competition in Auditing, Ethical Issues, Low-balling, Tendering
Level: Level 2

Topic: Ethical Issues in Auditing
Series: NOV 2016

PSAF – April 2022 – L2 – Q4 – Public Procurement

Discuss reasons for tender failure, explain procurement terms, and account for elements under IPSAS 32: Service Concession - Grantor.

Question

Required:
Explain FOUR (4) challenges that are likely to be the reason why they are failing to win contracts. (4 marks)

b) Explain the following terms and practices as used in Public Procurement:
i) Tender Security
ii) Least Cost Selection
iii) Tender Evaluation Panel
iv) Board of Survey
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: IPSAS 32, Public Procurement, Service Concession, Tendering
Level: Level 2

Topic: Public Procurement
Series: APR 2022

Question Tag: Tendering

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AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing

This question explains the technique of "low-balling" used by audit firms when tendering for audit engagements and its potential ethical implications.

PSAF – April 2022 – L2 – Q4 – Public Procurement

Discuss reasons for tender failure, explain procurement terms, and account for elements under IPSAS 32: Service Concession - Grantor.

AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing

This question explains the technique of "low-balling" used by audit firms when tendering for audit engagements and its potential ethical implications.

PSAF – April 2022 – L2 – Q4 – Public Procurement

Discuss reasons for tender failure, explain procurement terms, and account for elements under IPSAS 32: Service Concession - Grantor.

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AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing

This question explains the technique of "low-balling" used by audit firms when tendering for audit engagements and its potential ethical implications.

You're reporting an error for "AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing"

PSAF – April 2022 – L2 – Q4 – Public Procurement

Discuss reasons for tender failure, explain procurement terms, and account for elements under IPSAS 32: Service Concession - Grantor.

You're reporting an error for "PSAF – April 2022 – L2 – Q4 – Public Procurement"

AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing

This question explains the technique of "low-balling" used by audit firms when tendering for audit engagements and its potential ethical implications.

You're reporting an error for "AA – Nov 2016 – L2 – Q2d – Ethical Issues in Auditing"

PSAF – April 2022 – L2 – Q4 – Public Procurement

Discuss reasons for tender failure, explain procurement terms, and account for elements under IPSAS 32: Service Concession - Grantor.

You're reporting an error for "PSAF – April 2022 – L2 – Q4 – Public Procurement"

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