Question
The UK Corporate Governance Code (2018) gives guidance on Audit, Risk & Internal Control. Which TWO of the following are principles which apply in this
The UK Corporate Governance Code (2018) gives guidance on Audit, Risk & Internal Control.
Which TWO of the following are principles which apply in this area?
| A. | The board should ensure that the main role of the audit committee is to ensure that the external auditor report is favourable to the company. | |
| B. | The board should ensure that all members of the audit committee must hold a recognised financial accounting qualification such as ACCA or ICAEW and be currently registered with the professional body. | |
| C. | The board should establish procedures to manage risk, oversee the internal control framework, and determine the nature and extent of the principal risks the company is willing to take in order to achieve its long-term strategic objectives | |
| D. | The board should establish an audit committee which includes three members; at least two of which must be executive directors. | |
| E. | The board should present a fair, balanced and understandable assessment of the companys position and prospects. |
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