The Corporations Act 2001 Requires the Auditor to Report on Certain

question 59

Multiple Choice

The Corporations Act 2001 requires the auditor to report on certain matters only on an exception basis.This means that the auditor need only report particulars of any deficiency, failure or shortcoming in respect of these matters.Which of the following matters should not be reported on an exception basis?

• A)Whether the company has kept financial records sufficient to enable a financial report to be prepared and audited.
• B)Whether the company has kept registers required by the Act.
• C)Whether the auditor has been given all the information and assistance necessary for the conduct of the audit.
• D)Whether the financial report provides a true and fair view.

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Definitions:

Main Disconnect Switch

A safety device that completely disconnects the electrical supply to a building, machine, or an electrical circuit.

Processor Scanning

The process by which a programmable logic controller's processor reads input states, executes logic, and updates outputs cyclically.

STI Instruction

An instruction used in some programmable logic controllers (PLCs) to specify actions that occur at timed intervals, typically for periodic tasks.

Starter Auxiliary Contact

An auxiliary switch in a motor starter that provides a secondary set of contacts for controlling additional functions or status indication.