How Long Does the Corporations Act Require Audit Working Papers

question 8

Multiple Choice

How long does the Corporations Act require audit working papers to be kept for?

• A) it is not specified in law.
• B) for as long as they are useful.
• C) for 7 years.
• D) permanently.

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Definitions:

Social Responsibility

The commitment of businesses to contribute to sustainable economic development and to the welfare of their stakeholders and the community at large.

Larger Society

Refers to the broader community or the society at large, beyond smaller communities or groups, encompassing all its complexities and interactions.

Accountable

Being responsible or answerable for something, particularly in terms of the fulfillment of duties, obligations, or the accuracy of information.

Social Responsibility

The obligation of an organization to act in ways that serve both its own interests and the interests of its stakeholders, encompassing concerns for the environment, ethics, and the wellbeing of the society.