CIMA Risk Management P3 Question # 75 Topic 8 Discussion

CIMA Risk Management P3 Question # 75 Topic 8 Discussion

P3 Exam Topic 8 Question 75 Discussion:
Question #: 75
Topic #: 8

SDF is a quoted company. Which of the following matters should normally be dealt with by SDF's audit committee?


A.

The external auditor has requested a higher fee than normal for the forthcoming financial year because new legislation will require additional audit work.


B.

The Head of Internal Audit is concerned that a recent internal audit investigation may have revealed serious compliance failures.


C.

The external auditor is concerned that an accounting policy selected by the Finance Director does not comply with the spirit of the relevant accounting standard.


D.

The external auditor has identified a material error, due to a clear miscalculation, in the draft financial statements.


E.

The Finance Director will be retiring within the next year and a replacement will have to be found.


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