1st one

1st one

University

58 Qs

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1st one

1st one

Assessment

Quiz

Business

University

Medium

Created by

Lia the sea otter

Used 1+ times

FREE Resource

58 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is the following statement regarding stewardship true or false?  

 Directors are stewards of the investment made by shareholders in a company.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which two of the following are elements of an assurance engagement?  

(1) A three-party relationship  

(2) Suitable criteria  

(3) Determination of materiality  

(4) An engagement letter  

(1) and (2) only  

(1) and (3) only  

(2) and (3) only  

(1) and (4) only

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the correct order of the following stages involved in the development of an ISA?  

(1) Distribution of exposure draft for public comment  

(2) Consideration of comments received as a result of the exposure draft  

(3) Approval by IAASB members  

(4) Establishment of task force to develop draft standard  

(5) Discussion of proposed standard at a public meeting  

(1), (5), (4), (3), (2)  

(3), (4), (1), (2), (5)  

(4), (5), (1), (2), (3)  

(5), (4), (2), (1), (3)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is/are not a statutory right of the auditors of a limited liability company?  

(1) A right to attend all directors' meetings and receive all notices and communications relating to such  meetings.  

 (2) A right to speak at general meetings on any part of the business that concerns them as auditors.  

(3) A right to attend any general meeting and receive all notices and communications relating to such  meetings.  

(1) only

(1) and (3)  

(2) only

(2) and (3)

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is the following statement true or false?  

           In an effective system of corporate governance the directors take responsibility for risk management  strategies within the business.  

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are recognised threats to independence and objectivity as identified in ACCA's Code  of Ethics and Conduct?  

(1) Familiarity  

(2) Self-interest  

(3) Integrity  

(4) Advocacy  

(2) and (4) only

(2), (3) and (4)  

(1), (2) and (4)  

(2) and (4) only

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Andrew Jones has been the key audit partner of X Co, a public interest entity, for seven years. For how long  must he be rotated off the audit as a minimum to comply with ACCA's Code of Ethics and Conduct?  

1 year  

2 years  

3 years  

4 years

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