According to best practice the audit committee: *

1 point

Is responsible for designing adequate internal controls.

Selects the auditor.

Oversees the accounting department.

Nominates the executive board.

Which of the following is not a responsibility of audit committees? *

1 point

Management compensation.

Relations with the independent auditor.

Monitoring management.

Reviewing corporate reporting processes.

Under which ISO Standard the Guidance on Social Responsibility was recognized? *

1 point

ISO 26000

ISO 27000

ISO 22000

ISO 14000

Sustainability reporting consists of: *

1 point

Economic, social and environmental issues

Social and environmental issues.

Environmental issues.

Economic issues.

The acronym CSR stands for *

1 point

Corporate Social Responsibility

Corporate Social Reality

Corporate Search and Rescue

Corporate Sensitive Reliability

Sustainability reporting can incorporate which of the following? *

1 point

social reporting

all of the above

environmental reporting

business viability reporting

The following are key characteristics of Good KPIs, except *

1 point

Ambitious

Accessible

Relevant

Responsive

What is 'sensitivity analysis'? *

1 point

A technique for evaluating how the outcomes of a strategy vary when its underlying assumptions are change

A technique for determining how susceptible cash flow is to changes in market growth rates

A way of evaluating how market oriented an organisation is, i.e. how responsive to market needs

A technique for determining how aware managers are of the needs of their staff

Social sustainability refers to what? *

1 point

The concept of the enterprise supporting jobs and delivering income to communities in the long term

The concept of the enterprise supporting jobs and delivering income to communities in the short term

Stewardship of resources and managing and conserving the environment

Sharing benefits fairly and equitably and respecting the quality of life of communities and of human rights

Which of the following statements is most often the case? *

1 point

Socially responsible businesses tend to post higher profits than those not focused on social responsibility.

Socially responsible investing gives poorer returns than non-socially responsible investing.

Companies that are not socially responsible will have better profits, but have a moral obligation to society.

Investors are more short termed focus and so socially responsible investing should not be a factor in their investment portfolio.

Which of the following statements in relation to sustainable development is not true? *

1 point

Sustainable development is defined as the development that meets the needs of present without compromising the ability of our future generations to meet their own needs.

Sustainability has the main objective of purely focusing on the natural environment.

Sustainable development of various countries and the entire world is the only solution left with mankind to survive for a longer period on Earth.

Sustainable development not only considers the protection of the environment but also the maintenance of economic viability as well as the social and ethical considerations.

There are two important reporting frameworks, namely *

1 point

the Global Reporting Initiative (GRI) and the Global Development Plan (GDP)

the Global Reporting Initiative (GRI) and the International Congress of Supreme Audit Institutions (INCOSAI)

the International Congress of Supreme Audit Institutions (INCOSAI) and Integrated Reporting Initiative (IIRC)

the Global Reporting Initiative (GRI) and the Integrated Reporting Initiative (IIRC)

_______________ provides a formal structure for designing and evaluating the effectiveness of internal control. It emphasizes the role of the boardand, by delegation or regulation, the role of the audit committeein overseeing internal control. *

1 point

Audit Committee

Sarbanes-Oxley Act

2013 COSO Framework

SASB

It relates to how company manages the natural resources it needs for its business, as well as how it minimizes its negative impacts to the environment, including biodiversity. *

1 point

UN Sustainable development goals

Environment disclosures

Economic disclosures

Social disclosures

Which standards are considered universal under the GRI? *

1 point

management approach, economic, social

foundation, general disclosures, management approach

economic, environmental, social

foundation, economic, general disclosures

According to best practice the audit committee: *

1 point

Nominates the executive board.

Is responsible for designing adequate internal controls.

Selects the auditor.

Oversees the accounting department.

How many broad categories of capital are identified by the Integrated Reporting Framework? *

1 point

8

6

2

4

This measure highlights net cash flows from operations rather than reported income and produces a rate of return that can be compared with alternative company or market rates of return (the cost of capital) *

1 point

Total Shareholders Return

Cash flow return of investment

Economic Value Added

Cash flow return on investment

The Sarbanes-Oxley Act requires that executive officers attest to all the following except: *

1 point

All deficiencies in internal control or any fraud has been disclosed to regulators.

The statements fairly present the company's financial condition.

Based on their knowledge there are no untrue statements or omissions of material fact.

Their conclusions about effectiveness of internal control.

The following are the emphasis in sustainability reporting, except *

1 point

Intangible

Financial

Future Orientation

Non-financial

Internal control objectives are, among others: *

1 point

Control environment and monitoring.

Segregation of duties.

Compliance with law and regulations

Risk assessment

Internal benefits for companies and organizations can include: *

1 point

Mitigating negative environmental, social and governance impacts Improving reputation and brand loyalty

Enabling external stakeholders to understand the organization's true value, and tangible and intangible assets

Demonstrating how the organization influences, and is influenced by, expectations about sustainable development

Influencing long term management strategy and policy, and business plans