Under the CLEPR 9 Reforms Relating to the Conduct of Auditors

question 13

Multiple Choice

Under the CLEPR 9 reforms relating to the conduct of auditors audit partners of listed companies must rotate off the audit after a period of:

• A)2 years;
• B)3 years;
• C)5 years;
• D)7 years.

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Definitions:

Certified Checks

Checks guaranteed by a bank, indicating that the signer had enough funds in their account to cover the amount at the time of certification.

Internal Control Policies

Procedures and protocols implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Sarbanes-Oxley Act

A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.

Harsh Penalties

Severe consequences or punishments imposed for violations of rules or laws.