National & International Accounting Authorities – Corporate and Management Accounting MCQBy CACSMockTest / November 25, 2022 1 National & International Accounting Authorities – Corporate and Management Accounting MCQ 1 / 15 Professional Oversight Board (POB) is a: (A) Accountancy & Actuarial Discipline Board of UK (B) Australian regulatory body (C) UK regulatory body (D) Canadian accounting body 2 / 15 The European Financial Reporting Advisory Group (EFRAG) is a private association established in – (A) 1901 (B) 2001 (C) 1991 (D) 2011 3 / 15 Approval of exposure drafts, re-exposure drafts, and IPSASs are made by the affirmative vote of at least of the International Public Sector Accounting Standards Board (IPSASB) members. (A) one-third (B) two-thirds (C) one-half (D) three-fourth 4 / 15 The Financial Reporting Council (UK) board is supported by three committees, namely: (A) Presidents Committee; Profes-sional Committee; Implementa-tion Committee (B) Core Standards Committee; Conduct Committee; Standby Committee (C) Official Committee; Subsidiary Committee; Professional Com-mittee (D) Codes & Standards Committee; Executive Committee; Conduct Committee 5 / 15 Financial Reporting Council (UK) is a: (A) Company limited by guarantee (B) Unlimited company (C) Subsidiary company of IFRS (D) Associate company of the Insti-tute of Chartered Accounts of England 6 / 15 The IFRS Foundation has a governance structure (A) Three-tier (B) Two-tier (C) Four-tier (D) Five-tier 7 / 15 IFRS Foundation is a responsible for developing a single set of high-quality global accounting standards, known as IFRS Standards. (A) Not-for-profit organization (B) Statutory organization (C) Nominee organization (D) None of the above 8 / 15 Member of which organization can be appointed as statutory auditor of a company under the Companies Act, 2013. (A) Member of ICSI (B) Member of ICAI (C) Member of ICWAI (D) Any of the above 9 / 15 Objective of the Institute of Cost Accountants of India is – (A) To promote and develop the adop¬tion of scientific methods in cost and management accountancy. (B) To compete with the Chartered Accountants. (C) To Implement the IFRS in India. (D) To develop high-quality public sector financial reporting stan-dards. 10 / 15 Institute of Cost Accountants of India was established on – (A) 10th May, 1960 (B) 28th May, 1960 (C) 28th May, 1959 (D) 10th May, 1959 11 / 15 The Council of ICAI constitutes of members of whom are elected by the Chartered Accountants and remaining are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance and other stakeholders. (A) 20; 12; 4 (B) 40; 32; 8 (C) 30; 20; 6 (D) 50; 38; 9 12 / 15 At present near about persons are the members of ICSI. (A) 55,000 (B) 1,05,000 (C) 2,02,000 (D) 3,48,000 13 / 15 Company Secretary is also known as___ (A) Legal Officer (B) Chief Company Law Officer (C) Compliance Officer (D) Ethical Officer 14 / 15 ICSI functions under the jurisdiction of the – (A) Prime Minister of India (B) Ministry of Company Affairs (C) NCLT (D) Ministry of Corporate Affairs 15 / 15 The profession of Company Secretaries is regulated in India by provisions of the___ (A) Companies Act, 2013 (B) Company Secretaries Act, 1988 (C) SEBI Regulations (D) All of the above Your score is LinkedIn Facebook Twitter VKontakte
