product recall was prompted by the high level of customer returns due to claims of poor quality. For the year to
30 September 2006, the product range represented $8·9 million of consolidated revenue (2005 – $9·6 million)
and $1·3 million loss before tax (2005 – $0·4 million profit before tax). The results of the ‘petcare’ operations
are disclosed separately on the face of the income statement. (6 marks)
Required:
F.or each of the above issues:(i) comment on the matters that you should consider; and(ii) state the audit evidence that you should expect to find,
in undertaking your review of the audit working papers and financial statements of Seymour Co for the year ended
30 September 2006.
NOTE: The mark allocation is shown against each of the three issues.
[试题](b) Seymour offers health-related information services through a wholly-owned subsidiary, Aragon Co. Goodwill of$1·8 million recognised on the purchase of Aragon in October 2004 is not amortised but included at cost in theconsolidated balance sheet. A
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