Financial Regulations – NBC Institute

PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

Question

i. Identify TWO provisions of Financial Regulations which guide against the delay in contract payments. (3 Marks)

ii. Enumerate TWO punishments each that can be meted out to a government official and a legal person in case of delay in payment of contracts executed. (4 Marks)

Answer

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Tags: Contract Payment Delays, Financial Regulations, Government Contracts, Penalties, Public Sector Accounting
Level: Level 2

Topic: Public Procurement and Contract Management

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

Question

Briefly discuss the THREE types of audit responsibility of the Auditor-General for the Federation in line with Financial Regulation (2009 Edition). (12 Marks)

Answer

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Tags: Auditor General, Compliance Audit, Financial audit, Financial Regulations
Level: Level 2

Topic: Public sector audit

BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking

This question addresses the mandatory disclosure requirements and surveillance measures under the Money Laundering (Prohibition) Act.

Question

The Money Laundering (Prohibition) Act was enacted to check economic crimes.

Required:
Explain briefly the following:
i. Mandatory disclosure by financial institutions under the Money Laundering (Prohibition) Act, and the limitation of lodgment of funds by a corporate body. (4 Marks)

ii. Surveillance on bank account. (3 Marks)

Answer

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Tags: Banking Law, Financial Regulations, Money laundering
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2016

AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes

Describe money laundering and identify risk-based approaches companies can use to combat it.

Question

c) The growth of globalization has created more opportunities for free movement of capital/funds, which has resulted in a global canker called “money laundering.” There have been global efforts from governments and international institutions to combat the menace.

Required:
i) Describe in simple terms the concept of money laundering. (2 marks)
ii) Identify THREE risk-based approaches companies can adopt to combat the risk of money laundering. (4 marks)

Answer

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Tags: Anti-Money Laundering, Compliance, Financial Regulations, Money laundering, Risk-Based Approach
Level: Level 3

Topic: Emerging issues in finance and financial management, Regulatory framework and processes
Series: MAY 2016

PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

Question

i. Identify TWO provisions of Financial Regulations which guide against the delay in contract payments. (3 Marks)

ii. Enumerate TWO punishments each that can be meted out to a government official and a legal person in case of delay in payment of contracts executed. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Payment Delays, Financial Regulations, Government Contracts, Penalties, Public Sector Accounting
Level: Level 2

Topic: Public Procurement and Contract Management

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

Question

Briefly discuss the THREE types of audit responsibility of the Auditor-General for the Federation in line with Financial Regulation (2009 Edition). (12 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditor General, Compliance Audit, Financial audit, Financial Regulations
Level: Level 2

Topic: Public sector audit

BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking

This question addresses the mandatory disclosure requirements and surveillance measures under the Money Laundering (Prohibition) Act.

Question

The Money Laundering (Prohibition) Act was enacted to check economic crimes.

ii. Surveillance on bank account. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Financial Regulations, Money laundering
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2016

AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes

Describe money laundering and identify risk-based approaches companies can use to combat it.

Question

Required:
i) Describe in simple terms the concept of money laundering. (2 marks)
ii) Identify THREE risk-based approaches companies can adopt to combat the risk of money laundering. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Anti-Money Laundering, Compliance, Financial Regulations, Money laundering, Risk-Based Approach
Level: Level 3

Topic: Emerging issues in finance and financial management, Regulatory framework and processes
Series: MAY 2016

Question Tag: Financial Regulations

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PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking

This question addresses the mandatory disclosure requirements and surveillance measures under the Money Laundering (Prohibition) Act.

AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes

Describe money laundering and identify risk-based approaches companies can use to combat it.

PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking

This question addresses the mandatory disclosure requirements and surveillance measures under the Money Laundering (Prohibition) Act.

AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes

Describe money laundering and identify risk-based approaches companies can use to combat it.

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Question Tag: Financial Regulations

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PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

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PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

You're reporting an error for "PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit"

BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking

This question addresses the mandatory disclosure requirements and surveillance measures under the Money Laundering (Prohibition) Act.

You're reporting an error for "BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking"

AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes

Describe money laundering and identify risk-based approaches companies can use to combat it.

You're reporting an error for "AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes"

PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

You're reporting an error for "PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management"

PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit

Explains the three audit responsibilities of the Auditor-General under the Financial Regulation 2009.

You're reporting an error for "PSAF – Nov 2023 – L2 – Q2b – Public Sector Audit"

BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking

This question addresses the mandatory disclosure requirements and surveillance measures under the Money Laundering (Prohibition) Act.

You're reporting an error for "BL – MAY 2016 – L1 – SB – Q2c – Law Relating to Banking"

AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes

Describe money laundering and identify risk-based approaches companies can use to combat it.

You're reporting an error for "AFM – May 2016 – L3 – Q4c – Emerging issues in finance and financial management, Regulatory framework and processes"

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