ہوم / مشق / اے سی سی اے / اسٹریٹجک پروفیشنل / AAA Regulation, money laundering and laws
7 سوالات: اے سی سی اے اسٹریٹجک پروفیشنل، جوابات اور وضاحت کے ساتھ۔
جوابی کنجی کے ساتھ قابلِ پرنٹ ورک شیٹ
Informing a person that a report has been made about their suspected money laundering, in a way that might prejudice an investigation, is known as:
درست جواب: Tipping off
Tipping off is an offence in many jurisdictions and the auditor should not alert the client.
An auditor suspects that a client is laundering money. The auditor should:
درست جواب: Report to the firm's nominated officer and not tip off the client
Reports are made internally to the nominated person who decides whether to report to the authority.
Responsibility for compliance with laws and regulations rests with:
درست جواب: Management, with oversight by those charged with governance
The auditor's role is to consider the effect of non-compliance on the financial statements.
If an auditor identifies suspected non-compliance with law that has a material effect, the auditor should first:
درست جواب: Discuss it with management and those charged with governance
Obtain understanding and communicate, then consider the effect on the report and any duty to report to the authorities.
Which feature is typical of the audit of a public interest entity compared with other entities?
درست جواب: Stricter requirements on rotation and non-audit services, and key audit matters in the report
Public interest entities are subject to additional safeguards.
A professional's duty of care in negligence requires the claimant to show:
درست جواب: A duty of care, a breach of it and loss caused by the breach
All three elements are needed in a claim for negligence.
A firm can reduce its exposure to liability claims by:
درست جواب: Quality control, clear engagement letters and professional indemnity insurance
Liability can also be limited by contract where the law permits.