Accountability – Knowsia

BCL – L1 – SA – Q16 – Governance and Ethical Issues

Describes how companies show ethical behaviour.

Question

How can a company demonstrate ethical behaviour?

A Adhering to legal requirements

B Being transparent and accountable

C Maximizing profits at any cost

D Ignoring employee well-being

Answer

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Tags: Accountability, Ethical Behaviour, Transparency
Level: Level 1

Topic: Governance and ethical issues relating to business

BCL – L1 – SA – Q12 – Governance and Ethical Issues

States purpose of corporate governance.

Question

What is the main purpose of corporate governance?

A Maximizing shareholder profits

B Ensuring ethical business conduct and accountability

C Avoiding government regulations

D Minimizing employee rights

Answer

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Tags: Accountability, Corporate Governance, Ethical Conduct
Level: Level 1

Topic: Governance and ethical issues relating to business

AA – L2 – SA – Q2.1 – Board Accountability

To whom is the board of directors accountable?

Question

As agents of a company, the board of directors of a company are accountable to

A All the shareholders

B The majority shareholder(s)

C The shareholders and each other

D Each other

Answer

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Tags: Accountability, Board of Directors, Corporate Governance, ICAG, Shareholders
Level: Level 2

Topic: Introduction to Audit and Assurance Engagements

PSAF – L2 – Q16.3 – Stakeholder Analysis

Explain stakeholder analysis in the context of public sector governance.

Question

(a) Explain stakeholder analysis in relation to public sector governance.

(b) Identify four primary stakeholders of the hospital and discuss their expectations about the hospital.

Answer

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Tags: Accountability, Public Hospital, Public Sector Governance, Stakeholder Analysis
Level: Level 2

Topic: Public expenditure and financial accountability framework

PSAF – L2 – Q16.2- Public Expenditure and Financial Accountability

Discuss five ways public sector governance differs from private sector governance.

Question

At a recent conference of public sector governance where private sector governance is compared to that of the public sector, the speaker stresses “Public sector governance is different”.

Required:

(a) Discuss the statement of the speaker of the conference, pointing out five ways by which public sector governance is different.

(b) Discuss five benefits of engaging the stakeholders in public sector governance.

Answer

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Tags: Accountability, decision making, Private Sector Governance, Public Sector Governance, Risk Management, Transparency
Level: Level 2

Topic: Public expenditure and financial accountability framework

PSAF – L2 – Q16.1- Public Expenditure and Financial Accountability

Explain governance in the context of public sector management and accountability.

Question

(a) Explain governance in relation to the public sector.

(b) Discuss four elements of good governance in the public sector.

Answer

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Tags: Accountability, Good Governance, Public Sector Governance, Rule of Law, Transparency
Level: Level 2

Topic: Public expenditure and financial accountability framework

PSAF – L2 – Q15.4 – Public Financial Management Audit

Discuss four responsibilities of the Internal Audit Agency and Audit Service in public financial management.

Question

(a) Internal audit and external audit functions are critical to ensuring effective management of public resources. While the two functions lie in two separate organizations, both can co-operate and co-ordinate their functions in a manner that will promote value for money in the auditing space.

Required:

(a) Discuss four responsibilities of the:

(i) Internal Audit Agency; and

(ii) Audit Service.

(b) Explain four ways that the two institutions in question (a) can co-operate to ensure effective audit in the public sector.

Answer

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Tags: Accountability, Audit Coordination, Audit Service, External Audit, Governance, Internal Audit, Internal Audit Agency, Public Financial Management
Level: Level 2

Topic: The context of public financial management

PSAF – L2 – Q15.3 – Public Expenditure and Financial Accountability Framework

Discuss five functions of the Internal Audit Agency in public financial management.

Question

(a) A missing link in public financial management is the lack or weak internal audit function in covered entities. In 2003, the Internal Audit Agency was established to provide oversight on internal audit in the public sector.

(b) Suggest five practical strategies that the Internal Audit Agency can use in promoting effective internal audit in the public sector.

Answer

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Tags: Accountability, Governance, Internal Audit, Oversight, Public Financial Management
Level: Level 2

Topic: Public expenditure and financial accountability framework

FM – L2 – Q129 – Public Procurement Oversight

Discuss the role, functions, and funding of the National Procurement Agency in Zamunda's public procurement system.

Question

129 PUBLIC PROCUREMENT AGENCY

National Procurement Agency provides an oversight of procurement throughout the entire public sector.

(a) Explain the objective of establishing the National Procurement Agency in the Public Procurement system.

(b) Explain FIVE functions of the National Procurement Agency.

Answer

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Tags: Accountability, Funding, Oversight, Procurement Authority, Public Procurement, Transparency
Level: Level 2

Topic: Treasury Management

FM – L2 – Q126 – Internal Control System

Discuss objectives of internal control system and explain COSO framework components in relation to PEFA.

Question

(a)

The PEFA assessment of a PFM system considers internal control system of the country, as the internal control system plays a vital role across every pillar in addressing risks and providing reasonable assurance that operations are carried out in orderly and open manner.

Required:

(i) Explain the objectives of an effective internal control system.

(ii) With reference to the COSO framework, explain the components of internal control system in relation to the PEFA framework.

Answer

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Tags: Accountability, Control Environment, COSO Framework, Internal Control, PEFA framework, Public Financial Management, Risk Management
Level: Level 2

Topic: Treasury Management

Tag (SQ): Accountability

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BCL – L1 – SA – Q16 – Governance and Ethical Issues

Describes how companies show ethical behaviour.

BCL – L1 – SA – Q12 – Governance and Ethical Issues

States purpose of corporate governance.

AA – L2 – SA – Q2.1 – Board Accountability

To whom is the board of directors accountable?

PSAF – L2 – Q16.3 – Stakeholder Analysis

Explain stakeholder analysis in the context of public sector governance.

PSAF – L2 – Q16.2- Public Expenditure and Financial Accountability

Discuss five ways public sector governance differs from private sector governance.

PSAF – L2 – Q16.1- Public Expenditure and Financial Accountability

Explain governance in the context of public sector management and accountability.

PSAF – L2 – Q15.4 – Public Financial Management Audit

Discuss four responsibilities of the Internal Audit Agency and Audit Service in public financial management.

PSAF – L2 – Q15.3 – Public Expenditure and Financial Accountability Framework

Discuss five functions of the Internal Audit Agency in public financial management.

FM – L2 – Q129 – Public Procurement Oversight

Discuss the role, functions, and funding of the National Procurement Agency in Zamunda's public procurement system.

FM – L2 – Q126 – Internal Control System

Discuss objectives of internal control system and explain COSO framework components in relation to PEFA.

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Tag (SQ): Accountability

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BCL – L1 – SA – Q16 – Governance and Ethical Issues

Describes how companies show ethical behaviour.

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BCL – L1 – SA – Q12 – Governance and Ethical Issues

States purpose of corporate governance.

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AA – L2 – SA – Q2.1 – Board Accountability

To whom is the board of directors accountable?

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PSAF – L2 – Q16.3 – Stakeholder Analysis

Explain stakeholder analysis in the context of public sector governance.

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PSAF – L2 – Q16.2- Public Expenditure and Financial Accountability

Discuss five ways public sector governance differs from private sector governance.

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PSAF – L2 – Q16.1- Public Expenditure and Financial Accountability

Explain governance in the context of public sector management and accountability.

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PSAF – L2 – Q15.4 – Public Financial Management Audit

Discuss four responsibilities of the Internal Audit Agency and Audit Service in public financial management.

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PSAF – L2 – Q15.3 – Public Expenditure and Financial Accountability Framework

Discuss five functions of the Internal Audit Agency in public financial management.

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FM – L2 – Q129 – Public Procurement Oversight

Discuss the role, functions, and funding of the National Procurement Agency in Zamunda's public procurement system.

You're reporting an error for "FM – L2 – Q129 – Public Procurement Oversight"

FM – L2 – Q126 – Internal Control System

Discuss objectives of internal control system and explain COSO framework components in relation to PEFA.

You're reporting an error for "FM – L2 – Q126 – Internal Control System"

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