Part B

Accountants are often required to deal with company regulation and advise clients on compliance with relevant legislation. REQUIRED

1. Consider and discuss the impact the Corporations Act 2001 has on the accounting profession. (5 marks)

2. Discuss the role of accounting standards in assisting with the regulation of companies in Australia. Consider whether this regulation is effective in providing a secured environment for investors. (10 marks)

[ Important: Answers must refer to cases, legislation, accounting standards, articles or law reports ]