Write 7 pages with APA style on Audit Risk of a Scapa Company. The Group might have been induced to manipulate the taxes because previous tax losses available for a claim might be expiring this year. Exceptional items were more than the current year in the previous year, yet there was no taxation charge in the previous year (Scapa Group, 2013a). The calculation of the tax over the exceptional items has to be checked in detail. The operating profits increased by 14 % and the tax charge on them increased by 32%. The application of the new (changed) tax rate over the profits has to be reviewed.Classification of the exceptional items is also of high risk. The rationale for such classification of exceptional items has to be inquired for. Scapa has disposed of one of its subsidiaries and faced pressures from the European side (Scapa Group, 2013b). In order to present a better picture, Scapa might have engaged in showing a better Trading profit to Revenue ratio. This ratio is 6.5%, which is 1.1% better than the previous year ratio. Had exceptional items been included in trading profit, the ratio would have come down to 6% showing just 0.5 % improvements with respect to previous year ratio.Other Receivables have decreased by 98.5 % from $19.6 mn to $0.3 mn. This variation is mainly because of the re-classification of the assets of the Georgia subsidiary (Scapa Group, 2013c). This amount pertained to the insurance claim. The status of the claim and its valuation is a critical matter. It might be possible that a claim might have decreased, but it is transferred at the amount of the opening balance. Moreover, this liability is discounted at a risk-free interest rate of 3.35% (Scapa Group, 2013d). The assumption on the basis of which this rate is taken has to be reviewed. Change in rate may change the valuation of the insurance claim. Secondly, the discounted asset has not been unwound by the .rate used in this year. .
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.