CIMA BA4 - Fundamentals of Ethics, Corporate Governance and Business Law

Which of the following is correct in relation to the equitable remedy of rescission?

(i) Rescission is available in the event of any breach of contract

(ii) The victim of misrepresentation may automatically claim rescission

(iiI) The purpose of rescission is to return the parties to their pre-contract position.

How might a company ensure that the roles and responsibilities of its board and management are made clear and publicly known?

Regarding auditor remuneration, a self-interest threat to professional competence and due care is created if

Which of the following is CORRECT in relation to the Sarbanes-Oxley Act passed in the United States of America in 2002? 

i. The Act sought to protect investors by improving the accuracy of corporate disclosure and reporting procedures and increasing corporate openness.

ii. The Sarbanes-Oxley Act 2002 was passed in response to the high-profile Enron and WorldCom financial scandals.

iii. The Act provides that all auditors of public companies must register with the Public Company Accounting Oversight Board.

Which of the following are the TWO main differences between the structure and function of company boards in Germany and the UK?

Which of the 'fundamental principles' of CIMA's Code of Ethics is defined as follows?

 

"A professional accountant should not allow bias, conflict of interest or undue influence of others to override professional or business judgments"

Miss B is working closely with Mr L to deliver an important report on the efficiency of Mr L's department.  They have had to work late together several times, and last night they went out to dinner afterwards.  Miss B is starting to think she may have feelings for Mr L. Could her independence be called into question?

Which of the following statements reflects the leadership principles of corporate governance on board behavior?

Which of the following is correct?

(i) A liquidated damages clause will be void if it amounts to a penalty clause.

(ii) A liquidated damages clause will apply where it is a genuine attempt to pre-estimate the loss caused by a breach of contract.

(iii) A liquidated damages clause is void if it is for an amount in excess of the actual loss caused by the breach of contract. 

V is an accountant for HIJ company. This large international jewelry manufacturer and retailer both mines, designs and sets and retails its gemstones It has significant mining operates in Country A and Country Z.

It has been a key player in the development of ethical employment mining practices especially in advanced safety policies and it received a United Nations award for action against Blood Diamonds It publishes a detailed CSR report which highlights how its approach to safety is a core business value and how its KPIs around employee turnover and accident have improved annually.

Vs company has recently appointed a new CEO who is taking an aggressive stance to improving profit margins and wants to reduce the expenditure on safety, a key aspect of the approach to ethical mining practices in HIJ company

Which THREE of the following statements would V use to support the continuation of the ethical policy in this new culture? The ethical treatment of the mining workforce

In regards to a claim of misrepresentation, which of the following must be proved to show that the defending party induced the other party into entering the contract?

Select ALL that apply.

Which of the following statements is correct?

(i) An employer may rely on information discovered after an employee's dismissal to justify a wrongful dismissal.

(ii) An employer may rely on information discovered after an employee's dismissal to justify an unfair dismissal.

(iii) An employment tribunal will take into account the employee's conduct when determining how much compensation for unfair dismissal to award.   

In which country are accountants legally required to speak up about certain ethical concerns?

Paul has been held personally liable to contribute to the assets of P Ltd as a result of his "fraudulent trading" under Section 213 of the Insolvency Act 1986. The court is about to disqualify Paul from acting as a director. What is the maximum period for which he may be disqualified?

Which of the following has overall responsibility for enforcing the Health and Safety at Work Act 1974 and its related legislation?

i. The Health and Safety Commission

ii. The Health and Safety Executive

iii. The Health and Safety Inspectorate