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Overview This is a mock exam for the CIMA Management Case Study from February 2018, focusing on financial reporting, auditing concerns, and strategic management.
The company acquired an oil subsidiary in Borland, where new legislation now mandates rectification of environmental damage.
External auditors insist on compliance with IFRS, warning of material errors in financial statements.
Required: A briefing note on IFRS applicability and its impact on consolidated financial reports.
The company must decide whether to correct its financial statements or challenge the auditors’ stance.
Required: An email explaining potential persuasion strategies, the likely audit report type, and the effect on creditworthiness and share price.
Discussion on whether ignoring cybersecurity risks would be a strategic error.
Required: Recommendations on whether to rely on cloud-based security solutions or in-house experts.
Recent audits highlight operational weaknesses despite using balanced scorecards.
Required: A response on improving report quality, adding incentive-based feedback loops, and communicating findings to department heads.
Additionally, the document includes financial formulae related to annuities, perpetuities, present value calculations, and normal distributions.
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