Corporate Social Responsibility refers to the idea that a company should?

A. play an active part in the social life of the local neighborhood
B. be sensitive to the needs of all stakeholders
C. be alert to the social needs of all employees
D. act responsibly in relation to shareholders’ overall needs – not just their financial needs

Modern view on Corporate Social Responsibility is:

A. it is a way to further a company’s business and attract additional shareholders
B. it is necessary to reduce product liability claims
C. a company must give part of its profit to charity
D. social responsibility is incompatible with the objective of maximizing shareholder’s wealth

Which one of the following is not an aim of internal controls?

A. To enable the organization to respond appropriately to business, operational and financial risks
B. To eliminate the possibility of impacts from poor judgement and human error
C. To help ensure the quality of internal and external reporting
D. To help ensure compliance with applicable laws and regulations

Which of the following statements about external auditors is not correct?

A. External auditors are appointed by the shareholders of a company
B. The primary responsibility of external auditors is to investigate financial irregularities and report them to shareholders
C. External auditors may rely on the work of internal auditors, if they first assess its worth
D. External auditors are concerned with the financial records and statements of the organization

Who should sign the minutes of a board meeting to confirm they are a true and accurate record of meeting?

Any two members
B. Secretary
ChairmanDChief executive

Which of the following is a non-discretionary control?

A. StafF must be checked against national criminal records priorto employment
B. Orders must be signed by a manager before processing
C. Access to a database is password protected
D. authorisation of purchase orders

Some controls are provided automatically by the system and cannot be by-passed, ignored or overridden: for example, having to input a password to enter a computer system. These are classified as controls.Which term correctly completes the statement?

A. Detect
B. Mandated
C. Non-discretionary

It is important to promote proper and complete dialogue between the company registration body and a company. It is also important to ensure that essential administrative requirements laid down by the company registration body come to the attention of the board. Which TWO positions should be responsible for the above events?

A. Director
B. Chairman
Chief executive officer
D. Company secretary

Which of the following would ensure that the sales cycle results in prompt payment?E. Orders are processed by qualified personnel onlyF. Checking the goods are in inventory before dispatching themG. Each item has its own codeH. Checking the creditworthiness of the customer

A is entering customer details onto a computer system. The system requires him to log in and checks that he is allowed to enter customer details. The system also checks that he has entered all the required information about the customer.These computer system controls will not ensure which of the following:I. CompletenessJ. AuthorizationK. ValidityL. Identification