Under Section 311 of the Corporations Act Auditors Are Required

question 30

Multiple Choice

Under section 311 of the Corporations Act auditors are required to report any actual or suspected contraventions of the Act to:

• A)the Financial Reporting Council.
• B)the Auditing and Assurance Standards Board.
• C)the Australian Securities and Investments Commission.
• D)the Australian Securities Exchange.

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Definitions:

Novelty

Refers to the quality of being new, original, or unusual, often stimulating interest or attention in various contexts, from products to ideas.

Usefulness

The quality of being able to provide a beneficial function or meet a need.

Innovation

The process of introducing new ideas, devices, or methods to offer better solutions that meet new requirements or existing market needs.

Invention

The creation of a new device, method, or process, resulting from study and experimentation.