Financial Reporting and Ethics - The Institute of Chartered ...

CORPORATE GOVERNANCE3. A body corporate’s assets belong toA. the board chairman.B. the shareholders.C. the company.D. the employees.E. the creditors.4. Putting oneself in the position of others accords with the principle ofA. fairness.B. solidarity.C. role ResponsibilityD. refraining from Willed Harm.E. rationality.5. A financial expectation which will inappropriately influence the professionalaccountant’s behaviour gives rise toA. the self-review threat.B. the familiarity or trust threat.C. the intimidation threat.D. the self-interest threat.E. the advocacy threat.11.16.2 SHORT ANSWER QUESTIONS1. One of the causes of corporate failure of Enron is the hiding of corporate……………..2. What company collapsed as a result of being run as a single proprietorshipbusiness?3. Accountants and auditors are like the two sides of the …………………4. The reports of the external and internal auditors are reviewed by the……………. committee.5. Which report on governance in the United Kingdom clamoured for theinstitution of efficient and effective system of internal control?Refer to Suggested Solutions in Appendix I, Page 263.243