According to CIMA, which TWO of the following is true of ethical behavior in relation to professional accountants?
Ethical behavior is:
Which of the following groups is a financial as opposed to a non-financial stakeholder of a company?
Which of the following type of committee is NOT required by the UK Combined Code?
Matty dreams of owning his own business but can't be bothered to follow the steps involved in setting one up.
What should he do?
Which of the following is NOT one of the 'seven principles of public life', as defined by the Committee of Standards in Public Life?
Which of the following statements is correct?
(i) As a general rule the acceptance of an offer is only effective when it has been communicated to the offeror.
(ii) A person must know of an offer before he or she can accept it.
(iii) A request for further information has the effect of destroying the original offer.
In a situation where a professional accountant needs to choose in whose interest he or she is to behave and act, which of the following interests should he or she put first?
AD company has recently appointed you as the head of their internal audit department and the head of the risk management committee. The internal audit department consists of a team of ten full time staff and other finance and IT staff are appointed into the internal audit team on an ad hoc basis as required. The rail time staff are all qualified accountants, some with CIMA and some with other professional bodies.
The company prefers to keep the full time staff complement to ten to manage the costs and the team have told you that they are often under considerable pressure to perform their operational and financial audit work and feel short staffed. The team therefore relies on the support of key members of the finance department and IT department, who are experts in their areas
You were appointed to the role by the audit committee and have been given authority to investigate all aspects of the business.
From your initial understanding of the internal audit function which TWO statements describe the strengths of the department?
TESTED 22 Feb 2025
