Regulatory framework and processes

AA – Nov 2023 – L2 – Q2a – Regulatory Framework and Audit Responsibilities

Identify and explain regulatory and ethical issues related to resignation, retirement, and dismissal of auditors.

Question

Auditors play an important role in providing assurance to stakeholders on the reliability and accuracy of financial statements. However, situations may arise where an auditor may need to resign, retire, or be dismissed or removed from the audit engagement. The Auditor needs to consider regulatory, professional, and ethical issues relevant to an audit or assurance engagement.

Required:
Identify and explain the regulatory and ethical issues relating to:
i) Resignation;
ii) Retirement; and
iii) Dismissal/Removal of an auditor.
(10 marks)

Answer

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Tags: Auditor Resignation, Auditor Retirement, Dismissal, Ethical Issues, Regulatory
Level: Level 2

Topic: Regulatory framework and processes
Series: NOV 2023

AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities

Comment on the powers of the Registrar General regarding auditor appointments in the scenario.

Question

The auditors of Obuasi Ltd resigned on 21 August 2019 after they had been validly appointed and accepted. The directors of Obuasi Ltd appointed Ofori Ansong and Co. Chartered Accountants as their new auditors on 10 October 2019. The Registrar General refused to accept Ofori Ansong and Co as auditors on the grounds that the directors had acted beyond their powers since the Registrar General has the power to appoint auditors.

Required:
Comment on the action of the Registrar General. (7 marks)

Answer

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Tags: Audit Resignation, Auditor appointment, Companies Act, Registrar-General, Regulatory Framework
Level: Level 2

Topic: Regulatory Framework and Audit Responsibilities, Regulatory framework and processes
Series: MAY 2020

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

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

AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes

Outline the actions a target company might take to prevent a hostile takeover bid.

Question

b) As a Finance Manager in your company, you have been asked to produce an explanatory memo to Senior Management on the subject of Mergers and Acquisitions. Your memo should clearly outline what actions a target company might take to prevent a hostile takeover bid.

(5 marks)

Answer

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Tags: Acquisitions, Corporate Governance, Defense Strategies, Hostile takeover, Mergers
Level: Level 3

Topic: Acquisitions and mergers versus other growth strategies, Regulatory framework and processes
Series: MAY 2016

AA – Nov 2023 – L2 – Q2a – Regulatory Framework and Audit Responsibilities

Identify and explain regulatory and ethical issues related to resignation, retirement, and dismissal of auditors.

Question

Required:
Identify and explain the regulatory and ethical issues relating to:
i) Resignation;
ii) Retirement; and
iii) Dismissal/Removal of an auditor.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditor Resignation, Auditor Retirement, Dismissal, Ethical Issues, Regulatory
Level: Level 2

Topic: Regulatory framework and processes
Series: NOV 2023

AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities

Comment on the powers of the Registrar General regarding auditor appointments in the scenario.

Question

Required:
Comment on the action of the Registrar General. (7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Resignation, Auditor appointment, Companies Act, Registrar-General, Regulatory Framework
Level: Level 2

Topic: Regulatory Framework and Audit Responsibilities, Regulatory framework and processes
Series: MAY 2020

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

AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes

Outline the actions a target company might take to prevent a hostile takeover bid.

Question

(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Acquisitions, Corporate Governance, Defense Strategies, Hostile takeover, Mergers
Level: Level 3

Topic: Acquisitions and mergers versus other growth strategies, Regulatory framework and processes
Series: MAY 2016

Topic: Regulatory framework and processes

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AA – Nov 2023 – L2 – Q2a – Regulatory Framework and Audit Responsibilities

Identify and explain regulatory and ethical issues related to resignation, retirement, and dismissal of auditors.

AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities

Comment on the powers of the Registrar General regarding auditor appointments in the scenario.

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.

AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes

Outline the actions a target company might take to prevent a hostile takeover bid.

AA – Nov 2023 – L2 – Q2a – Regulatory Framework and Audit Responsibilities

Identify and explain regulatory and ethical issues related to resignation, retirement, and dismissal of auditors.

AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities

Comment on the powers of the Registrar General regarding auditor appointments in the scenario.

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.

AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes

Outline the actions a target company might take to prevent a hostile takeover bid.

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Topic: Regulatory framework and processes

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AA – Nov 2023 – L2 – Q2a – Regulatory Framework and Audit Responsibilities

Identify and explain regulatory and ethical issues related to resignation, retirement, and dismissal of auditors.

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AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities

Comment on the powers of the Registrar General regarding auditor appointments in the scenario.

You're reporting an error for "AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities"

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"

AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes

Outline the actions a target company might take to prevent a hostile takeover bid.

You're reporting an error for "AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes"

AA – Nov 2023 – L2 – Q2a – Regulatory Framework and Audit Responsibilities

Identify and explain regulatory and ethical issues related to resignation, retirement, and dismissal of auditors.

You're reporting an error for "AA – Nov 2023 – L2 – Q2a – Regulatory Framework and Audit Responsibilities"

AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities

Comment on the powers of the Registrar General regarding auditor appointments in the scenario.

You're reporting an error for "AA – May 2020 – L2 – Q2c – Regulatory Framework and Audit Responsibilities"

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"

AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes

Outline the actions a target company might take to prevent a hostile takeover bid.

You're reporting an error for "AFM – May 2016 – L3 – Q3b – Acquisitions and mergers versus other growth strategies, Regulatory framework and processes"

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