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

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Q: Discuss ethical considerations in relation to conflict of interest, confidentiality and disclosure…

A: While conducting duties by the director of the company when signing off on company reports must…

Q: Which one of the following statements is true? A. Conflicts of interests between management and…

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Q: Mr. Bader is leaving his Auditing Firm to become the Finance Director of his client company. The…

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Q: Under the AICPA Code of Professional Conduct, which of the following rules is not applicable to CPAs…

A: AICPA (American Institute of Certified Public Accountants) code of professional conduct sets rules,…

Q: TRUE OR FALSE In executing their governance responsibilities, audit committees frequently interact…

A: Business entities are required to conduct an audit of their financial statements, so as to know…

Q: KPMG is the auditor for a company under IESBA rules and cannot assume a management responsibility…

A: Auditing refers to an independent examination of financial records with a view to provide an opinion…

Q: Explain who is considered a “director” of a company and how a director may be resigned  from his…

A: Directors are a group of people, collectively called board of directors, appointed by the company to…

Q: According to the ethical standards of the profession, which of the following acts by a CPA is…

A: As per the American Institute of Certified Public Accountants (AICPA) ethical code and framework of…

Q: When employees have a conflict of interest between their personal compensation and provision of…

A: Management and owners of a company are different. Management is compensated in order to run the…

Q: Which of the following statements is FALSE related to the role of Board of Directors: 1. Supervise…

A: Board of directors: The board of directors, commonly known as BOD, refers to the group of people…

Q: Which of the below statements regarding the right of the auditor to attend for the shareholder…

A: The incorrect option is c. Internal Auditor doesn’t have the right to attend the shareholders…

Q: 18-from the options given below identify which of the following is not responsibility of management…

A: Answer

Q: What are some specific transactions that an auditor would expect to be approved by the board of…

A:

Q: For which of the following matters should an auditor obtain written management representations?…

A: Solution: Auditor should obtain written management representations with respect to "Management’s…

Q: Fiduciary duties as a director reflect a relationship of trust and loyalty between the director, the…

A: A corporation's director must work in good faith to advance the corporation's objectives for the…

Q: Who could decide the terms and conditions of appointment of internal auditor? a. Management of the…

A: An internal auditor (IA) is an independent person or professional who is responsible to evaluate the…

Q: A. Only 1 statement is True  B. Only 2 statements are True  C. All statements are True D. All…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : A…

Q: The committee of the board of directors who is in charge of monitoring circumstances that might…

A: In an organisation, various type of committees are being made and every committe has its purposes,…

Q: what are the responsibility of Board members with regards to internal controls?

A: Internal Controls Internal controls refer to the rules, regulations, or processes implemented by a…

Q: Only the directors have the power to call a general meeting ...True or false

A: Annual General Meeting (AGM) is a yearly meeting of stockholders or shareholders, members of…

Q: A professional accountant should comply with relevant laws and regulations and should avoid any…

A: Solution: Professional behaviour is the fundamental principle of professional ethics which convey…

Q: Which statement best describes a basic concept that applies to the AICPA independence rules? A.)…

A: The AICPA establishes ethical standards, guidelines, and rules that govern the conduct of its…

Q: Which ethical code is defined as “A professional accountant should not allow bias, conflict of…

A:

Q: AICPA members who work in industry and government must always uphold which two of the following…

A: The correct options are (b & d)

Q: professional accountant

A: First option is wrong because professional behaviour is about attitude to be kept by the…