(ii) analytical procedures, (6 marks)
might appropriately be used in the due diligence review of MCM.
(ii) Suggest THREE other performance measures (not applied in (i)) which might be used to assess thecustomer perspective of the balanced scorecard of GER. (3 marks)
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(b) Explain the capital gains tax (CGT) and inheritance tax (IHT) implications of Graeme gifting his remaining ‘T’ordinary shares at their current value either:(i) to his wife, Catherine; or(ii) to his son, Barry.Your answer should be supported by relevant calculations and clearly identify the availability and effect ofany reliefs (other than the CGT annual exemption) that might be used to reduce or defer any tax liabilitiesarising. (9 marks)
(ii) Any increase or decrease in the group’s budgeted corporation tax liability for the year ending 30 June2008 due to the restructuring on the assumption that trading losses will be used as efficiently aspossible. (8 marks)
(ii) Explain why Galileo is able to pay the inheritance tax due in instalments, state when the instalments aredue and identify any further issues relevant to Galileo relating to the payments. (3 marks)
(ii) equipment used in the manufacture of Bachas Blue; and (4 marks)
(b) Explain the matters you should consider before accepting an engagement to conduct a due diligence reviewof MCM. (10 marks)
(c) Explain the extent to which you should plan to place reliance on analytical procedures as audit evidence.(6 marks)
