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Question No 1

Which of the following is FALSE regarding corporate governance'

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Effective corporate governance practices are most necessary in an organization in which the owners are not also the individuals responsible for setting and executing the business strategy

Effective corporate governance practices are considered to be the foundation of fraud risk management.

Corporate governance’s primary purpose is to ensure the accuracy of the organization's financial reports

An entity's corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization.

Question No 2

Which of the following is FALSE regarding corporate governance'

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Effective corporate governance practices are most necessary in an organization in which the owners are not also the individuals responsible for setting and executing the business strategy

Effective corporate governance practices are considered to be the foundation of fraud risk management.

Corporate governances primary purpose is to ensure the accuracy of the organizations financial reports

An entity's corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization

Question No 3

According to G20/OECD Principles of Corporate Governance (the Principles):

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Governments should have in place a corporate governance framework that promotes transparent and fair markets

Companies should disclose all financial information to investors, regardless of the cost burden of the disclosure

A corporate governance framework should focus on the rights of shareholders but does not need to include the rights of other organizational stakeholders

All of the above

Question No 4

The fact that most groups within groups a society have the same ideas of right and wrong greatly assists in the ability to determine the correct ethical decision in a given situation.

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Question No 5

In identifying the inherent fraud risks that could apply to the organization the fraud risk assessment team should discuss

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