Question 1 (i) The objective of the Financial Reporting Council is to: A. Enhance the credibility of financial reporting; and improve the quality of accountancy and audit services. B. Be the voice of directors, through
Please answer all 2 subparts.
Question 1
(i) The objective of the Financial Reporting Council is to:
A. Enhance the credibility of financial reporting; and improve the quality of accountancy and audit services.
B. Be the voice of directors, through training and certification programmes, workshops and networking events, advocacy, research and thought leadership.
C. Promote public awareness about corporate governance principles and practices.
D. Act as the national coordinating body responsible for all matters pertaining to corporate governance
(ii) A control environment :
A. Describes the awareness of (and attitude to) internal controls in the organisation.
B. Describes the system or procedures for identifying the risks facing the company
C. Describes how controls should be devised and implemented to eliminate, reduce or control risks
D. Describes the system of information provision and communication within the organisation
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