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C05-Fundamentals of ethics, corporate governance and ...

C05-Fundamentals of ethics , corporate governance and business law Sample Exam Paper Question 1. Legal and disciplinary frameworks provide ALL of the following EXCEPT which ONE? A. An effective means of challenging serious wrong-doing B. Deterrents to bad practice through punishment and censure C. Means of controlling behaviour D. Financial compensation only to the affected parties Question 2. Which of the following statement is INCORRECT regarding Financial Reporting Council (FRC)? A. It is the United Kingdom's independent regulator for corporate reporting and governance B. It must always seek to insure professional integrity of practicing accountants C. It aims at promoting confidence in corporate reporting and governance D. Professional Oversight Board and Audit Practices Board are part of FRC. Question 3. CIMA Code of ethics takes what is called a framework-based' approach. What is the INCORRECT statement?

C05-Fundamentals of ethics, corporate governance and business law Updated: Oct 2013 4 A. Corporate values are important for giving guidance to staff about what the expectations an employer has of them with regard to their behaviour.

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