A member of a public company audit committee is OA always an executive director O B. none of these answer choices are correct OC either an executive or non-executive director OD. always a non-executive director

An audit committee isa. Composed of internal auditors.b. Composed of members of the audit team.c. Composed of members of a company’s board of directors who are not involved in theday-to-day operations of the company.d. A committee composed of persons not associating in any way with the client or the boardof directors.

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25. Who oversees the organization’s system of internal control? Group of answer choices Management Board of Directors Internal Auditors Process Owners None of the choices

The duty to retain discretion means that:Select one:a. The director should remain independent, freely exercising their powers in the company’s best interestsb. The director should disclose any material personal interest to the board of directorsc. The director should stay away from board meetings when they have a material personal interest in a matter to be discussed at the meetingd. The director should not disclose any material personal interest to the board of directors

Please answer all 3 subparts Question 1 (i) Which one of the following is not a reason for having board committees?A. An increase in the accountability of the board to the firm by reducing individual freeriding and enabling outside directorsB. A better performance of the board of directors by allowing a better monitoring through greater separation from management.C. Bringing a focus and appropriate expertise and specialisation to the consideration of a Board issue.D. Allows the board members to dissipate the discharge their duties and responsibilities (ii) The National Code of Corporate Governance of Mauritius requires all public interest companies to have at least :A. An audit committeeB. A remuneration committeeC. A corporate governance committeeD. A nomination committee (iii) Which report focused mainly in directors’ remunerationA. The Greenbury reportB. The Hampell reportC. The Higgs reportD. The Turnbull report

80 For which of the following matters should an auditor obtain written management representations?  Group of answer choices  Management’s compliance with contractual agreements that may affect the financial statements.  Management’s knowledge of future plans that may affect the price of the entity’s stock.  Management’s cost-benefit justifications for not correcting internal control weaknesses.  Management’s acknowledgment of its responsibility for employee’s violations of laws.

Which of the following documents will contain information about the compensation for Directors of a public company:   The 10Q   The Proxy Statement   The Annual Report   The outside Auditors Report

While performing an audit of a public company, the auditors discovered material illegal acts and resigned due to the client's refusal to disclose them. The auditors' reason for resignation should be disclosed through: Direct Communication The Securities & Item With Shareholders Exchange Committee A. B. C. D. Multiple Choice Yes No Yes No Option C Option D O Option B Option A Yes Yes No No

Which of the following statements is FALSE related to the role of Board of Directors: 1. Supervise performance of executive management 2. Establishing risk management plan 3. Approval of financial statements