Question 21 of 30 The following information concerns individuals on Protea Limited's (Protea) Board of Directors, as at 29 February 2020: Director Notes Position Mr S Mr Bokkie owns 15% of the equity interest in Protea. Chairperson of the Board Bokkie He has also served as the Chairperson of the Audit Committee of Protea for a number of years. Mr S kolisi Mr Kolisi had been appointed to the position of CEO of Protea, on 1 July Chief Executive Officer 2007, and he also served as a member of the Audit Committee of Protea (CEO) for a number of years. Mr Kolisi and Mr Bokkie are the two members serving on the Audit Committee. Mr H Chief Financial Officer Pollard (CFO) and Company CA(SA) Secretary Mr R Chief Operations Officer Erasmus (COO) Indicate which one of the following directors can be regarded as non-executive, in terms of the King IV Report? A. Mr H Pollard CA(SA) B. Mr R Erasmus C. Mr S kolisi D. Mr S Bokkie Question 19 of 30 2 2 Points The company has very good internal control, which addresses and based on the generally accepted components of internal control, namely: * the control environment * the risk assessment process * the information system - relevant to financial reporting * control activities * monitoring of controls The following piece information relates to the revenue and receipts cycle: The financial director receives a month-to-month report on various ratios and statistics, including debtors' days outstanding, debtors, who have gone bad, number of customer complaints, and so forth. Identify the component of internal control to which the above information relates: A. The risk assessment process B. The information system C. The control environment D. Monitoring of controls Question 20 of 30 2 Points The company has very good internal control, which addresses and is based on the generally accepted components of internal control, namely: *the control environment * the risk assessment process * the information system - relevant to financial reporting * control activities * monitoring of controls The following piece information relates to the revenue and receipts cycle: The company has an effective defined programme for developing and promoting employees. Identify the component of internal control to which the above information relates: A. the information system B. the control environment C. control activities D. the risk assessment process Question 18 of 30 2 Points The following information concerns individuals on Protea Limited's (Protea) Board of Directors, as at 29 February 2020: Director Mr S Bokkie Position Chairperson of the Board Notes Mr Bokkie owns 15% of the equity interest in Protea. . He has also served as the Chairperson of the Audit Committee of Protea for a number of years. a Mrs Kolisi Mr Kolisi had been appointed to the position of CEO of Protea, on 1 July Chief Executive Officer 2007, and he also served as a member of the Audit Committee of Protea (CEO) for a number of years. Mr Kolisi and Mr Bokkie are the two members serving on the Audit Committee. Non-executive director Mr T Mtawarira Which combination of the following statements regarding the audit committee is true, in terms of the King IV Report? 1. All members of the audit committee should be independent, non-executive members. 2. The audit committee should consists of a majority of non-executive directors, of whom the majority should be independent. 3. The audit committee consists of two members - that is the recommended minimum by the King Report. 4. Mr Mtawarira can be a member of the audit committee. 5. Mr Bokkie should be the chairperson of the audit committee, as he is the chairperson of the board. Choose the correct alternative from the options given below: O A. 1 and 3 OB. 1.2 and 4 OC. 1 and 4 OD. 2, 3 and 5 Reset Selection Question 21 of 30 The following information concerns individuals on Protea Limited's (Protea) Board of Directors, as at 29 February 2020: Director Notes Position Mr S Mr Bokkie owns 15% of the equity interest in Protea. Chairperson of the Board Bokkie He has also served as the Chairperson of the Audit Committee of Protea for a number of years. Mr S kolisi Mr Kolisi had been appointed to the position of CEO of Protea, on 1 July Chief Executive Officer 2007, and he also served as a member of the Audit Committee of Protea (CEO) for a number of years. Mr Kolisi and Mr Bokkie are the two members serving on the Audit Committee. Mr H Chief Financial Officer Pollard (CFO) and Company CA(SA) Secretary Mr R Chief Operations Officer Erasmus (COO) Indicate which one of the following directors can be regarded as non-executive, in terms of the King IV Report? A. Mr H Pollard CA(SA) B. Mr R Erasmus C. Mr S kolisi D. Mr S Bokkie Question 19 of 30 2 2 Points The company has very good internal control, which addresses and based on the generally accepted components of internal control, namely: * the control environment * the risk assessment process * the information system - relevant to financial reporting * control activities * monitoring of controls The following piece information relates to the revenue and receipts cycle: The financial director receives a month-to-month report on various ratios and statistics, including debtors' days outstanding, debtors, who have gone bad, number of customer complaints, and so forth. Identify the component of internal control to which the above information relates: A. The risk assessment process B. The information system C. The control environment D. Monitoring of controls Question 20 of 30 2 Points The company has very good internal control, which addresses and is based on the generally accepted components of internal control, namely: *the control environment * the risk assessment process * the information system - relevant to financial reporting * control activities * monitoring of controls The following piece information relates to the revenue and receipts cycle: The company has an effective defined programme for developing and promoting employees. Identify the component of internal control to which the above information relates: A. the information system B. the control environment C. control activities D. the risk assessment process Question 18 of 30 2 Points The following information concerns individuals on Protea Limited's (Protea) Board of Directors, as at 29 February 2020: Director Mr S Bokkie Position Chairperson of the Board Notes Mr Bokkie owns 15% of the equity interest in Protea. . He has also served as the Chairperson of the Audit Committee of Protea for a number of years. a Mrs Kolisi Mr Kolisi had been appointed to the position of CEO of Protea, on 1 July Chief Executive Officer 2007, and he also served as a member of the Audit Committee of Protea (CEO) for a number of years. Mr Kolisi and Mr Bokkie are the two members serving on the Audit Committee. Non-executive director Mr T Mtawarira Which combination of the following statements regarding the audit committee is true, in terms of the King IV Report? 1. All members of the audit committee should be independent, non-executive members. 2. The audit committee should consists of a majority of non-executive directors, of whom the majority should be independent. 3. The audit committee consists of two members - that is the recommended minimum by the King Report. 4. Mr Mtawarira can be a member of the audit committee. 5. Mr Bokkie should be the chairperson of the audit committee, as he is the chairperson of the board. Choose the correct alternative from the options given below: O A. 1 and 3 OB. 1.2 and 4 OC. 1 and 4 OD. 2, 3 and 5 Reset Selection