ACCA备考指导： The regulatory framework09年ACCA_CAT考试

文章作者 100test 发表时间 2009:07:07 23:37:42
来源 100Test.Com百考试题网

　　An area of significant change in recent years
　　Increasing emphasis on corporate governance and importance of internal audit
　　Types of regulatory influences include:
　　Corporate governance requirements
　　National legislation
　　Industry specific regulations
　　Common regulations affecting all activities （e.g. Health and Safety）
　　Industry specific regulations
　　International regulations
　　Statutory framework for internal auditing involves three key areas:
　　Corporate governance
　　International accounting standards
　　Public sector requirements
　　Corporate governance
　　COSO Report – Internal Control – Integrated Framework, Committee of Sponsoring Organizations defines internal control as a process, effected by directors, management and other personnel, to provide reasonable assurance regarding the achievement of objectives.
　　The objectives include:
　　Effectiveness and efficiency of operations
　　Reliability of financial reporting
　　Compliance with laws and regulations
　　The main areas of the model are as follows:
　　Control environment
　　Risk assessment
　　Control activities
　　Information and communication
　　Monitoring
　　The latest UK requirements （Listing rules） are set out in the UK Stock Exchange combined Code, with guidance on meeting these requirements set out in the Turnbull report. Turnbull requires that listed companies （i.e. public companies whose shares are listed on the London Stock Exchange） ‘be required to confirm that there is an ongoing process for identifying, evaluating and managing the company’s key risks and that it is regularly reviewed by the board and accords with the guidance’.