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dexazuxo's version from 2017-05-12 22:42

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3 ways to exaggerate CFO1. Securitise receivables (sell for cash to third party)........2. Extend payables by deferring payments (Check for sizeable rises in days payables).........3. Finance payables through 3rd party to shift timing to a later period
Self regulation to meet standardsICAEW sets entry, education, training and performance requirements. They also establish disciplinary procedure subject to FRC oversight
What are the nolan principles?AHOOI: Accountability, honesty, objectivity, opens, integrity
Main types of complaints, and 3 stages of procedure COMPLAINTS: 1) Breaching a regulation......2) departing from guidance.......3) Bringing discredit to ICAEW.......4) Professional misconduct (rather than fee disputes) ........3 STAGES: 1) Conciliation......2) investigation.......3) disciplinary proceedings
What is the legislation to ensure accountants meet standards? Companies Act 2006 is enforced by the government and agencies (serious frauds office, BOE, FCA). this is mainly for fraud and deliberate misrepresentation
memorize