BA4 Exam Dumps : Fundamentals of Ethics, Corporate Governance and Business Law

Kane is a management accountant for business in the City. When looking through the company's latest financial reports he finds that company has been paying far less tax than it should be.

After consulting the company's management, Kane discovers that the company had been deliberately paying less tax and are not interested in taking action to rectify it.

As Kane has done all he can to try and solve the issue himself, it's clear that he now needs to take steps to disassociate himself from the misleading information.

How might he do this?

Select ALL that apply.

Wye has borrowed £10,000 from Exe and the loan has now become repayable in full.  Exe has received a cheque from Wye for £9,000 stated to be “in full and final settlement of the loan.” What is the position if Exe cashes the cheque?

(i) Exe will have accepted £9,000 in full and final settlement and will not be able to claim the other £1,000 from Wye.

(ii) Exe is legally entitled to cash the cheque and pursue Wye for the balance of £1,000.

(iii) Exe will have accepted £9,000, but at law payment of less than the amount due cannot satisfy the full debt. 

Which of the following is CORRECT in relation to the Sarbanes-Oxley Act passed in the United States of America in 2002? 

i. The Act sought to protect investors by improving the accuracy of corporate disclosure and reporting procedures and increasing corporate openness.

ii. The Sarbanes-Oxley Act 2002 was passed in response to the high-profile Enron and WorldCom financial scandals.

iii. The Act provides that all auditors of public companies must register with the Public Company Accounting Oversight Board.