Subject: STRATEGIC CASE STUDY

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AAA – Nov 2011 – L3 – SB – Q1 – Application of Audit and Assurance Principles

Evaluate the steps for identifying and responding to fraud risk during audit planning.

Question

Fela Idaewor is the auditor for Matty Co. Ltd, a rapidly expanding retail business based in Lekki. This is her first year as the audit manager. During her engagement planning, she observed multiple risk factors, such as the company’s strong interest in maintaining earnings and share prices, unrealistic financial forecasts, and high reliance on debt financing for expansion. Additionally, there were strong indications that fraud might have been committed by top management.

Required
(a) What should Idaewor do about the possibility of fraud at the planning stage? (7 Marks)
(b) What documentation is required for identifying risk factors? (5 Marks)
(c) If Idaewor has evidence suggesting fraud, what are her communication responsibilities to management? (3 Marks)

Answer

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Tags: Audit Planning, Fraud Detection, Management Communication, Professional Skepticism, Risk Factors
Level: Level 3

Topic: Application of Audit and Assurance Principles
Series: NOV 2011

SCS – Nov 2019 – L3 – Q2d – Ethics and social responsibility

Discuss the ethical operations of Ghanalux and recommend internal controls to enhance customer safety and service.

Question

i) Discuss whether the company is operating in an ethical manner.
(5 marks)

ii) Recommend internal controls that might be implemented by the company to improve customer safety and security, and to deal with the problems of poor service to customers.
(7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customer safety, Ethics, Internal Controls, Service Quality
Level: Level 3

Topic: Ethics and social responsibility
Series: NOV 2019

SCS – Nov 2019 – L3 – Q2c – Controlling risk

Recommend governance and organizational changes for Ghanalux to improve its performance.

Question

i) In response to the views of the company directors, and giving your reasons, recommend any changes to the governance and organization of Ghanalux that would benefit the performance of the company.
(8 marks)

Answer

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Tags: Governance, Management, Organization
Level: Level 3

Topic: Controlling Risk
Series: NOV 2019

SCS – Nov 2019 – L3 – Q2b – Capital structure

Discuss the potential benefits and problems of converting short-term borrowing into long-term loans.

Question

i) Discuss the potential benefits and problems with proposals to convert the company’s short-term borrowings into a longer-term loan.

ii) Pay bigger cash salaries, or add a share option element to the remuneration packages.

iii) Maintain the dividend for 2019 at the 2018 level, or even reduce it further.

iv) Convert any surplus dollar cash into cedis.

(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Borrowing, Currency Conversion, Financial structure, Foreign Exchange, Long-term loans, Risk Management
Level: Level 3

Topic: Capital structure
Series: NOV 2019

SCS – Nov 2019 – L3 – Q2a – Financial management

Analyze the financial performance of Ghanalux in 2018 and its effect on the bank overdraft.

Question

i) Analyze the financial performance of Ghanalux in 2018 to determine the extent to which the continuing large bank overdraft is attributable to profitability issues, cash flow management issues, or a combination of both.

ii) Prepare a forecasted cash flow statement for Ghanalux in 2019 to determine the likely bank balance or bank overdraft at the end of 2019. Assume the financial relationships and ratios are largely maintained from 2018 to 2019.

iii) iii) Recommend measures to improve the cash flow of the company.

(20 marks)

Answer

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Tags: Cash flow improvement, Working Capital Management
Level: Level 3

Topic: Financial management
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1d – Controlling risk

Recommend internal controls to improve customer safety and service at Ghanalux.

Question

Recommend internal controls that might be implemented by the company to improve customer safety and security, and to deal with the problems of poor service to customers.
(7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customer safety, Internal Controls, Risk Management, Service Quality
Level: Level 3

Topic: Controlling Risk
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1c – Methods of development

iscuss the strategic alliance proposal between Ghanalux and Sunlit Hotels.

Question

i) Discuss the issues that should be considered when responding to proposals for a strategic alliance between Ghanalux and Sunlit Hotels.
(7 marks)

ii) Discuss the issues that should be considered when responding to proposals for a business combination with the tour company in Kumasi.
(7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Acquisition, Business combination, Kumasi tour company, Merger, Partnership, Strategic Alliance, Sunlit Hotels, Tourism
Level: Level 3

Topic: Methods of Development
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1b – Competitive Advantage

Discuss the competitive advantage of Ghanalux in the tourism industry.

Question

i) Discuss what you consider to be the main competitive advantage of Ghanalux in its industry.
(5 marks)

ii) Discuss how a balanced scorecard approach to performance measurement might help Ghanalux to improve its profitability.
(3 marks)

iii) Recommend performance measures that might be used by Ghanalux if it adopts a balanced scorecard system.
(8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive Advantage, Ghanalux, Tourism
Level: Level 3

Topic: Competitive Advantage
Series: NOV 2019

: SCS – Nov 2019 – L3 – Q1a – Environment analysis

Analyze the competitive disadvantage of Ghana’s tourism industry using Porter’s Diamond model.

Question

i) Discuss the view that the tourism industry in Ghana might currently be at a disadvantage and under-developed compared to other countries.
Note: Use Porter’s Diamond to structure your answer.
(8 marks)

ii) Assess the two suggestions about expanding the business of Ghanalux outside Ghana and into conferencing, from the perspective that strategy should be suitable, feasible, and acceptable.
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive Advantage, Ghana, Porter’s Diamond, Tourism
Level: Level 3

Topic: Environment analysis
Series: NOV 2019

SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

Question

Prestige’s Board acknowledges that by adopting and implementing the highest standards of
corporate governance, this sets the standards and values for the entire Company. The
Company seeks to comply with best practice in all areas of corporate governance and
continues to review the Company’s procedures to maintain proper control and
accountability.
Required

There are nine members on Prestige’s Board of Directors. They include the Chairman, Chief Executive, three executive directors, and four non-executive directors (NEDs). Describe and explain four broad roles for NEDs identified in the document published in the UK in 2003, known as the Higgs Guidance.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountability, board roles, Corporate Governance, Non-Executive Directors
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

AAA – Nov 2011 – L3 – SB – Q1 – Application of Audit and Assurance Principles

Evaluate the steps for identifying and responding to fraud risk during audit planning.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Planning, Fraud Detection, Management Communication, Professional Skepticism, Risk Factors
Level: Level 3

Topic: Application of Audit and Assurance Principles
Series: NOV 2011

SCS – Nov 2019 – L3 – Q2d – Ethics and social responsibility

Discuss the ethical operations of Ghanalux and recommend internal controls to enhance customer safety and service.

Question

i) Discuss whether the company is operating in an ethical manner.
(5 marks)

ii) Recommend internal controls that might be implemented by the company to improve customer safety and security, and to deal with the problems of poor service to customers.
(7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customer safety, Ethics, Internal Controls, Service Quality
Level: Level 3

Topic: Ethics and social responsibility
Series: NOV 2019

SCS – Nov 2019 – L3 – Q2c – Controlling risk

Recommend governance and organizational changes for Ghanalux to improve its performance.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Governance, Management, Organization
Level: Level 3

Topic: Controlling Risk
Series: NOV 2019

SCS – Nov 2019 – L3 – Q2b – Capital structure

Discuss the potential benefits and problems of converting short-term borrowing into long-term loans.

Question

i) Discuss the potential benefits and problems with proposals to convert the company’s short-term borrowings into a longer-term loan.

ii) Pay bigger cash salaries, or add a share option element to the remuneration packages.

iii) Maintain the dividend for 2019 at the 2018 level, or even reduce it further.

iv) Convert any surplus dollar cash into cedis.

(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Borrowing, Currency Conversion, Financial structure, Foreign Exchange, Long-term loans, Risk Management
Level: Level 3

Topic: Capital structure
Series: NOV 2019

SCS – Nov 2019 – L3 – Q2a – Financial management

Analyze the financial performance of Ghanalux in 2018 and its effect on the bank overdraft.

Question

iii) iii) Recommend measures to improve the cash flow of the company.

(20 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cash flow improvement, Working Capital Management
Level: Level 3

Topic: Financial management
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1d – Controlling risk

Recommend internal controls to improve customer safety and service at Ghanalux.

Question

Recommend internal controls that might be implemented by the company to improve customer safety and security, and to deal with the problems of poor service to customers.
(7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customer safety, Internal Controls, Risk Management, Service Quality
Level: Level 3

Topic: Controlling Risk
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1c – Methods of development

iscuss the strategic alliance proposal between Ghanalux and Sunlit Hotels.

Question

i) Discuss the issues that should be considered when responding to proposals for a strategic alliance between Ghanalux and Sunlit Hotels.
(7 marks)

ii) Discuss the issues that should be considered when responding to proposals for a business combination with the tour company in Kumasi.
(7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Acquisition, Business combination, Kumasi tour company, Merger, Partnership, Strategic Alliance, Sunlit Hotels, Tourism
Level: Level 3

Topic: Methods of Development
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1b – Competitive Advantage

Discuss the competitive advantage of Ghanalux in the tourism industry.

Question

i) Discuss what you consider to be the main competitive advantage of Ghanalux in its industry.
(5 marks)

ii) Discuss how a balanced scorecard approach to performance measurement might help Ghanalux to improve its profitability.
(3 marks)

iii) Recommend performance measures that might be used by Ghanalux if it adopts a balanced scorecard system.
(8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive Advantage, Ghanalux, Tourism
Level: Level 3

Topic: Competitive Advantage
Series: NOV 2019

: SCS – Nov 2019 – L3 – Q1a – Environment analysis

Analyze the competitive disadvantage of Ghana’s tourism industry using Porter’s Diamond model.

Question

ii) Assess the two suggestions about expanding the business of Ghanalux outside Ghana and into conferencing, from the perspective that strategy should be suitable, feasible, and acceptable.
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive Advantage, Ghana, Porter’s Diamond, Tourism
Level: Level 3

Topic: Environment analysis
Series: NOV 2019

SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountability, board roles, Corporate Governance, Non-Executive Directors
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

Subject: STRATEGIC CASE STUDY

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AAA – Nov 2011 – L3 – SB – Q1 – Application of Audit and Assurance Principles

Evaluate the steps for identifying and responding to fraud risk during audit planning.

You're reporting an error for "AAA – Nov 2011 – L3 – SB – Q1 – Application of Audit and Assurance Principles"

SCS – Nov 2019 – L3 – Q2d – Ethics and social responsibility

Discuss the ethical operations of Ghanalux and recommend internal controls to enhance customer safety and service.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2d – Ethics and social responsibility"

SCS – Nov 2019 – L3 – Q2c – Controlling risk

Recommend governance and organizational changes for Ghanalux to improve its performance.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2c – Controlling risk"

SCS – Nov 2019 – L3 – Q2b – Capital structure

Discuss the potential benefits and problems of converting short-term borrowing into long-term loans.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2b – Capital structure"

SCS – Nov 2019 – L3 – Q2a – Financial management

Analyze the financial performance of Ghanalux in 2018 and its effect on the bank overdraft.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2a – Financial management"

SCS – Nov 2019 – L3 – Q1d – Controlling risk

Recommend internal controls to improve customer safety and service at Ghanalux.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1d – Controlling risk"

SCS – Nov 2019 – L3 – Q1c – Methods of development

iscuss the strategic alliance proposal between Ghanalux and Sunlit Hotels.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1c – Methods of development"

SCS – Nov 2019 – L3 – Q1b – Competitive Advantage

Discuss the competitive advantage of Ghanalux in the tourism industry.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1b – Competitive Advantage"

: SCS – Nov 2019 – L3 – Q1a – Environment analysis

Analyze the competitive disadvantage of Ghana’s tourism industry using Porter’s Diamond model.

You're reporting an error for ": SCS – Nov 2019 – L3 – Q1a – Environment analysis"

SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

You're reporting an error for "SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission"

AAA – Nov 2011 – L3 – SB – Q1 – Application of Audit and Assurance Principles

Evaluate the steps for identifying and responding to fraud risk during audit planning.

You're reporting an error for "AAA – Nov 2011 – L3 – SB – Q1 – Application of Audit and Assurance Principles"

SCS – Nov 2019 – L3 – Q2d – Ethics and social responsibility

Discuss the ethical operations of Ghanalux and recommend internal controls to enhance customer safety and service.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2d – Ethics and social responsibility"

SCS – Nov 2019 – L3 – Q2c – Controlling risk

Recommend governance and organizational changes for Ghanalux to improve its performance.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2c – Controlling risk"

SCS – Nov 2019 – L3 – Q2b – Capital structure

Discuss the potential benefits and problems of converting short-term borrowing into long-term loans.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2b – Capital structure"

SCS – Nov 2019 – L3 – Q2a – Financial management

Analyze the financial performance of Ghanalux in 2018 and its effect on the bank overdraft.

You're reporting an error for "SCS – Nov 2019 – L3 – Q2a – Financial management"

SCS – Nov 2019 – L3 – Q1d – Controlling risk

Recommend internal controls to improve customer safety and service at Ghanalux.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1d – Controlling risk"

SCS – Nov 2019 – L3 – Q1c – Methods of development

iscuss the strategic alliance proposal between Ghanalux and Sunlit Hotels.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1c – Methods of development"

SCS – Nov 2019 – L3 – Q1b – Competitive Advantage

Discuss the competitive advantage of Ghanalux in the tourism industry.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1b – Competitive Advantage"

: SCS – Nov 2019 – L3 – Q1a – Environment analysis

Analyze the competitive disadvantage of Ghana’s tourism industry using Porter’s Diamond model.

You're reporting an error for ": SCS – Nov 2019 – L3 – Q1a – Environment analysis"

SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

You're reporting an error for "SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission"

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