Pass P3 Exam Guide

Every member of the entity.

The board of directors only.

Managers and directors only.

The shareholders.

CW has just opened a bank account in the currency in which the newly opened branch is now operating

Establishing an internal audit department

Excess funds are now invested, by the finance director, in short-term securities The finance director initiates buy and sell transactions and she also receives and retains all correspondence relating to the investments

Purchase invoices are now approved for payment at branches and a list of approved invoices are sent to head office for payment The invoices, supporting documentation and suppliers' statements are retained at the branches

A policy has been initiated to complete a physical inventory of all non-current assets at least annually This is then reconciled with the non-current asset register

GBP/USD = 1.74

GBP/USD = 1.78

GBP/USD = 1.65

GBP/USD = 1.67

The shares have more unsystematic risk than the stock market average.

The shares have more systematic risk than the stock market average.

The shares have more total risk than the stock market average.

The shares have less unsystematic risk than the stock market average.