All answers will vary depending on the learner and the organisation they work for, but the learner should be able to answer each question competently. 1. What is financial probity? 2. Describe three principles of accounting and financial systems. 3. Explain one piece national piece of legislation and one local piece of legislation which is relevant to financial management in the organisation. Additional research may be needed for this question. 4. Outline the requirements of Goods and Services Tax, Company Tax and Pay As You Go. 5. What are the key components of the financial budget? 6. What are the key functions of financial management software? 7. Describe the main processes of reviewing profit and losses from financial statements