CIMA P3 Exam With Confidence Using Practice Dumps

Establishing an Internal Audit department.

Purchase invoices are now approved for payment at branches and a list of approved invoices are sent to head office for payment. The invoices, supporting documentation and suppliers' statements are retained at the branches.

Excess funds are now invested, by the Finance Director, in short-term securities. The Finance Director initiates buy and sell transactions and she also receives and retains all correspondence relating to the investments.

A policy has been initiated to complete a physical inventory of all non-current assets at least annually. This is then reconciled with the non-current asset register.

N has just opened a bank account in the currency in which the newly opened branch is now operating.

Potential clients for HBN's services will expect to receive copies of these independent reports immediately after they are submitted.

The independent accountancy firm will disclose all of the shortcomings that it identifies in its report, even if they embarrass HBN

HBN could save time and reduce cost by having its own internal audit department conduct these investigations and report accordingly.

It would prove simpler for HBN to permit clients to conduct their own cybersecurity reviews that would take account of the sensitivity of their data

The independent accountancy firm will guarantee that there are no control weaknesses in HBN's systems, provided its results prove satisfactory

Investing in projects with the shortest payback period.

Investing in projects with positive net present value.

Investing in projects with the greatest level of risk.

Not paying a dividend for several years in order to invest in new projects.