(ii) Explain, with reasons, the relief available in respect of the fall in value of the shares in All Over plc,

identify the years in which it can be claimed and state the time limit for submitting the claim.(3 marks)

[试题](c) Explain the reasons for the concerns of the government of Happyland with companies such as TMC andadvise the directors of a strategy that might be considered in order to avoid being subject to any forthcominglegislation concerning the environment.

[试题](ii) Assuming the relief in (i) is available, advise Sharon on the maximum amount of cash she could receiveon incorporation, without triggering a capital gains tax (CGT) liability. (3 marks)

[试题](ii) State, with reasons, whether Messier Ltd can provide Galileo with accommodation in the UK withoutgiving rise to a UK income tax liability. (2 marks)

[试题](ii) Explain the organisational factors that determine the need for internal audit in public listed companies.(5 marks)

[试题](ii) Briefly explain the implications of Parr & Co’s audit opinion for your audit opinion on the consolidatedfinancial statements of Cleeves Co for the year ended 30 September 2006. (3 marks)

[试题](ii) Identify and explain the principal audit procedures to be performed on the valuation of the investmentproperties. (6 marks)

[试题](ii) Identify and explain the potential financial statement risks caused by the breach of planning regulationsdiscussed in the press cutting. (6 marks)

[试题](ii) State, giving reasons, the tax reliefs in relation to inheritance tax (IHT) and capital gains tax (CGT) whichwould be available to Alasdair if he acquires the warehouse and leases it to Gallus & Co, rather than toan unconnected tenant. (4 mar

[试题](ii) Briefly explain the extent to which the application of sensitivity analysis might be useful in decidingwhich refrigeration system to purchase and discuss the limitations inherent in its use. (3 marks)

[试题](ii) Explain THREE strategies that might be adopted in order to improve the future prospects of DiverseH．oldings Plc. (6 marks)