E. Which of the following(s) does/do ASIC regulates? Financial markets Service organization Fund management Accountants Answer F. What are the essential element(s) in looking at financial data? Profitability Debt level Borrowing rates Equity level Answer G. What is/are correct in regard to audit? A company (other than a small proprietary company). registered scheme (managed investment scheme) or disclosing entity (a body that holds enhanced disclosure securities) must have its annual financial report audited and obtain an auditor's report. It is an independent opinion provided by an independent external auditor Any bookkeeper/ accountant can provides its opinion to financial statement that is submitted to ASIC External audit is performed because the firm's shareholder has requested an audit statement Answer What is/are true about disclosing entity? I. Include registered managed investment scheme Il. Half-yearly financial reports is an option III. Audited statement is an option IV Financial report required to be lodged with ASIC within 4 months of the end of financial year. Answer Which of the following(s) is/are not required to lodge financial report? I. Public companies Il. Small proprietary companies controlled by foreign companies which are not port of a large group III. Company limited by guarantee with annual revenue of $1million or more IV. Registered schemes Answer Which of the following is/are correct for lodging financial statement to ASIC? I. 3 months for all entity Il. 3 months for disclosing entity III. 4 months for all entities that is not a disclosing entity IV 4 months for all entity