AUDITORS' REPORT & PROFESSIONAL BODIES PART B B1. How would anyone know that the published financial statements of Shoprite and Spar LTD reflect the real results for the financial year? B2. As you have studied the audit reports of the two companies, in which company would you buy shares and why? Quote page numbers / paragraphs, etc. to prove your answer or as evidence of research conducted. [24 marks] " B3. Do the auditors give an absolute assurance that everything is accurate and can be relied upon? Respond by quoting a line/statement in the report to substantiate your answer B4. Conduct further research about the Professional bodies indicated in brackets (SAICA, SAIPA and IRBA) and answer the questions that follow: What does SAICA, SAIPA and IRBA stand for? 4.1 4.3 4.2 What are the Roles and Objectives of SAICA, SAIPA AND IRBA? Explain TWO for each one of them. (2) What would be their Specific and General Actions that they would take in case their members are found guilty of unprofessional conduct / misconduct. B5. Give THREE types of Audit evidence that the auditors of SPAR Group Ltd could have used to arrive at their opinion. (3) (2) (3) (6) (5) (3)​

Answers

Answer 1

SAICA: South African Institute of Chartered Accountants

SAIPA: South African Institute of Professional Accountants

IRBA: Independent Regulatory Board for Auditors

B1. It is challenging for anybody to know whether the distributed budget summaries of Shoprite and Fight LTD mirror the genuine outcomes for the monetary year.

The reviewers' reports give some affirmation that the budget summaries are reasonably introduced, however they don't ensure the exactness or culmination of the data.

The inspectors' perspective depends on their assessment of the fiscal summaries and their evaluation of the bookkeeping approaches and gauges utilized by the organizations. Nonetheless, there is as yet a gamble of material misquote because of misrepresentation or mistake.

B2. In light of the review reports, it is hard to figure out which organization is a superior speculation. The two organizations got unfit suppositions, it are decently introduced to demonstrate that their fiscal reports.

In any case, the review reports truly do feature a few dangers and vulnerabilities that could influence the organizations' monetary exhibition. For instance, Fight's review report makes reference to a gamble connected with the effect of the Coronavirus pandemic on the organization's tasks and monetary outcomes.

Financial backers would have to lead extra examination and investigation to figure out which organization is a superior venture.

B3. No, the examiners don't give an outright affirmation that everything is precise and can be depended upon. In both review reports, the evaluators express that their viewpoint depends on their assessment of the budget summaries and their appraisal of the bookkeeping approaches and gauges utilized by the organizations.

In any case, they likewise note that there is a gamble of material misquote because of extortion or blunder, and that their assessment may not recognize every material error.

B4. SAICA represents the South African Organization of Contracted Bookkeepers, SAIPA represents the South African Foundation of Expert Bookkeepers, and IRBA represents the Autonomous Administrative Board for Examiners. The jobs and targets of these bodies are as per the following:

SAICA:

Jobs and targets:

Controlling the bookkeeping calling in South Africa

Setting moral and expert norms for bookkeepers

Giving instruction, preparing, and improvement for bookkeepers

Advancing the interests of the bookkeeping calling

Explicit and general activities in the event of amateurish direct:

Exploring grumblings of wrongdoing

Restraining individuals who have disregarded moral or expert principles

Suspending or disavowing the enrollment of individuals who are viewed as at legitimate fault for serious unfortunate behavior

SAIPA:

Jobs and targets:

Controlling and supporting the expert bookkeeping calling in South Africa

Setting moral and expert norms for bookkeepers

Giving schooling, preparing, and advancement for bookkeepers

Advancing the interests of the bookkeeping calling

Explicit and general activities in the event of amateurish direct:

Researching protests of unfortunate behavior

Restraining individuals who have disregarded moral or expert principles

Giving direction and backing to individuals who need help to agree with norms.

IRBA:

Jobs and goals:

Managing reviewers and the review calling in South Africa

Setting moral and expert norms for evaluators

Leading quality confirmation surveys of review firms

Advancing public trust in the review calling

Explicit and general activities in the event of amateurish direct:

Exploring grumblings of wrongdoing

Restraining evaluators who have abused moral or expert guidelines

Giving direction and backing to inspectors who need help to agree with principles

B5. Three kinds of review proof that the examiners of Fight Gathering Ltd might have used to show up at their perspective are:

Affirmation of balances: the inspectors might have mentioned affirmations from Fight's clients and providers to confirm the precision of the records receivable and creditor liabilities adjusts.

Perception: the reviewers might have noticed Fight's stock build up to confirm the presence and valuation of stock.

Scientific methodology: the examiners might have carried out logical systems, like pattern examination and proportion investigation, to distinguish any uncommon changes or connections in the monetary information.

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Related Questions

Similar to For Practice 14.8) Determine the freezing point of an aqueous solution that contains 0.867 m glycerin (CHgOz).
Ki(water) = 1.86°C/m and Kg(water) - 0.512°C/m. Freezing point of water = 0.0 °C.

Similar to For Practice 14.3) Find the mass (in grams) of glucose (CH1206) in 505 mL of 10.5% glucose solution by mass. Assume the density of the solution is 1.04g/mL

Answers

The freezing point of the solution containing 0.867 m glycerin is -1.61442 °C. Option C is correct

The mass of glucose in 505 mL of 10.5% glucose solution is 53.01 g or 5.30 x 10^2 g.

Option C is correct

To find the freezing point depression of the solution containing 0.867 m glycerin:

ΔTf = Kf * molality

ΔTf = (1.86°C/m) * 0.867 m

ΔTf = 1.61442 °C

The freezing point depression is 1.61442 °C.

The freezing point of the solution is:

Freezing point = 0.0 °C - ΔTf

Freezing point = 0.0 °C - 1.61442 °C

Freezing point = -1.61442 °C

To find the mass of glucose in 505 mL of 10.5% glucose solution:

Mass of glucose = Volume of solution * Density of solution * % mass

Mass of glucose = 505 mL * 1.04 g/mL * 10.5%

Mass of glucose = 53.01 g

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2
Select the correct answer.
Which phrase best describes heat?
OA.
B.
OC.
D.
the energy that an object has as a result of its temperature
the average translational kinetic energy of the particles in an object
the energy transferred between objects at different temperatures
the total amount of energy possessed by the particles in an object

Answers

Heat is most accurately described as "the energy transferred between objects at different temperatures" (C). Until they reach thermal equilibrium, or the same temperature, heat is a type of energy that flows freely from a hotter to a colder item.

Heat can be transferred through conduction, convection, or radiation. The temperature differential between the items and the thermal conductivity of the materials involved determine how much heat is transported.

Temperature,  a measurement of the average kinetic energy of the particles in an item, is not the same as heat. Internal energy is the entire amount of energy held by an object's particles, which includes both their kinetic and potential energies.

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help w calorimeter problems pls.

Answers

1. The specific heat capacity of the metal is 0.102 J/gºC

2. The specific heat capacity of the metal is 0.432 J/gºC

3. The final temperature of water is 16.7 °C

1. How do I determine the specific heat capacity of the metal?

First, we shall obtain the heat absorbed by the water. This is shown below:

Volume of water = 125 mLMass of water (M) = 125 gInitial temperature (T₁) = 22 °CFinal temperature (T₂) = 25.4 °CChange in temperature (ΔT) = 25.4 - 22 = 3.4 °CSpecific heat capacity of water (C) = 4.184 J/gºC Heat absorbed by water (Q) =?

Q = MCΔT

Q = 125 × 4.184 × 3.4

Q = 1778.2 J

Finally, we shall determine the specific heat capacity of the metal. This is shown below:

Heat absorbed by water (Q) = 1778.2 JHeat released by metal (Q) = -1778.2 JMass of metal (M) = 2.36×10² gInitial temperature (T₁) = 99.5 °CFinal temperature (T₂) = 25.4 °CChange in temperature (ΔT) = 25.4 - 99.5 = -74.1 °CSpecific heat capacity of metal (C) = ?

Q = MCΔT

-1778.2 = 2.36×10² × C × -74.1

-1778.2 = -17487.6 × C

Divide both sides by -17487.6

C = -1778.2 / -17487.6

Specific heat capacity of metal = 0.102 J/gºC

2. How do I determine the specific heat capacity of the metal?

As discussed above, we shall first obtain the heat absorbed by the water. This is shown below:

Volume of water = 75.2 mLMass of water (M) = 75.2 gInitial temperature (T₁) = 20.5 °CFinal temperature (T₂) = 28.6 °CChange in temperature (ΔT) = 28.6 - 20.5 = 8.1 °CSpecific heat capacity of water (C) = 4.184 J/gºC Heat absorbed by water (Q) =?

Q = MCΔT

Q = 75.2 × 4.184 × 8.1

Q = 2548.56 J

Finally, we shall determine the specific heat capacity of the metal. This is shown below:

Heat absorbed by water (Q) = 2548.56 JHeat released by metal (Q) = -2548.56 JMass of metal (M) = 95.3 gInitial temperature (T₁) = 90.5 °CFinal temperature (T₂) = 28.6 °CChange in temperature (ΔT) = 28.6 - 90.5 = -61.9 °CSpecific heat capacity of metal (C) = ?

Q = MCΔT

-2548.56 = 95.3 × C × -61.9

-2548.56 = -5899.07 × C

Divide both sides by -5899.07

C = -2548.56 / -5899.07

Specific heat capacity of metal = 0.432 J/gºC

3. How do i determine the final temperature of water?

The final temperature is the same as the equilibrium temperature of the mixture. Thus, we shall obtain the equilibrium temperature. Details below:

Mass of warm water (Mᵥᵥ) = 100Temperature of warm water (Tᵥᵥ) = 50 °CMass of cold water (M) = 50 gTemperature of cold water (T) = 20 °CEquilibrium temperature (Tₑ) =?

Heat loss by warm water = Heat gain by cold

MᵥᵥC(Tᵥᵥ - Tₑ) = MC(Tₑ - T)

Cancel out C

Mᵥᵥ(Tᵥᵥ - Tₑ) = M(Tₑ - T)

100 × (50 - Tₑ) = 50 × (Tₑ - 20)

Clear bracket

1500 - 100Tₑ = 50Tₑ - 1000

Collect like terms

1500 + 1000 = 50Tₑ + 100Tₑ

2500 = 150ₑ

Divide both side by 150

Tₑ = 2500 / 150

Tₑ = 16.7 °C

The equilibrium temperature is 16.7 °C.

Thus, we can conclude that the final temperature of the water is 16.7 °C

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You are in a laboratory creating a new chocolate bar. You want to create the sweetest chocolate bar by maximizing the sugar concentration. You are doing this by adding the sugar to a chocolate mixture. Which would allow you to dissolve more sugar?

The answer: Add the sugar after heating the mixture.

Answers

Adding the sugar after heating the mixture would allow you to dissolve more sugar, which would result in a sweeter chocolate bar.

When you dissolve sugar in a liquid, such as in a chocolate mixture, there is a limit to the amount of sugar that can be dissolved at a given temperature. This limit is known as the solubility of the sugar in that liquid. The solubility of sugar in water is higher at higher temperatures, which means that you can dissolve more sugar in hot water than in cold water. The same principle applies to chocolate mixtures.

By heating the chocolate mixture, you increase the temperature of the mixture, which in turn increases the solubility of the sugar in the mixture. This allows you to dissolve more sugar in the mixture than if you were to add the sugar to the mixture at room temperature or when it is cold.

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--The given question is incorrect, the correct question is

"You are in a laboratory creating a new chocolate bar. You want to create the sweetest chocolate bar by maximizing the sugar concentration. You are doing this by adding the sugar to a chocolate mixture. Which would allow you to dissolve more sugar?"--

1. HCI (aq) + NaOH (aq) → NaCl (aq) + H₂O (1)
a. What are the reactants?
b. What are the products?

Answers

In the given reaction, the reactants are hydrochloride acid (HCI) and sodium hydroxide (NaOH). The products are sodium chloride (NaCl) and water.

The chemical equation provided represents a neutralization reaction between hydrochloric acid (HCI) and sodium hydroxide (NaOH) in aqueous solution.

A neutralization reaction is a type of double displacement reaction in which an acid and a base react to form salt and water.

The reactants in this equation are hydrochloric acid (HCI) and sodium hydroxide (NaOH). Hydrochloric acid is a strong acid that dissociates in water to form hydrogen ions (H+) and chloride ions (Cl-). Sodium hydroxide, on the other hand, is a strong base that dissociates in water to form sodium ions (Na+) and hydroxide ions (OH-).

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