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CIMAPRA17-BA3-1 Exam - Topic 1 Question 64 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 64
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

An external audit is an independent examination of, and expression of opinion on the financial statements of an entity.

Who of the following appoints the external auditor?

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Suggested Answer: A

by Ettie at Jan 07, 2023, 05:24 PM

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Charlesetta
4 months ago
Really? I didn't know shareholders had that power. Sounds surprising!
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Emmett
4 months ago
Wait, are you sure? I thought the finance director had a role in this.
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Julie
4 months ago
Definitely the shareholders, they have the final say!
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Reyes
4 months ago
I thought it was the board that did that?
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Brock
4 months ago
It's usually the shareholders who appoint the external auditor.
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Roxane
5 months ago
I’m pretty certain it’s the shareholders who appoint the external auditor, but I might be mixing it up with internal auditors.
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Paz
5 months ago
I have a feeling it could be the finance director, but that seems less common.
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Irene
5 months ago
I remember practicing a question like this, and I think it was the board that makes the appointment.
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Francisca
5 months ago
I think the external auditor is usually appointed by the shareholders, but I'm not entirely sure.
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Nieves
5 months ago
Okay, let me see here. Red Hat and Ubuntu make sense, but I'm not familiar with the other options like Debian and Amazon Linux. I'll have to guess on those and hope I get it right.
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Precious
5 months ago
Ah, I think I've got it. I'll highlight the plug-in step, select Debug, and then attach the debugger to the w3wp.exe process. That should help me identify the problem and get the plug-in working again.
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Helene
10 months ago
This question is a piece of cake. The shareholders are the ones who hold the purse strings, so they get to choose the auditor.
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Bronwyn
8 months ago
C) Shareholders
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Tula
8 months ago
Shareholders are the ones who appoint the external auditor.
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Dorothea
8 months ago
D) Chief operating officer
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Dominic
8 months ago
C) Shareholders
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Tom
8 months ago
B) Finance director
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Chara
9 months ago
A) The Board
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Tammara
10 months ago
The chief operating officer? Really? That's like asking the fox to guard the henhouse!
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Alaine
8 months ago
B) Finance director
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Annice
8 months ago
C) Shareholders
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Dahlia
8 months ago
A) The Board
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Janine
9 months ago
B) Finance director
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Adolph
9 months ago
C) Shareholders
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Paris
9 months ago
A) The Board
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Yasuko
11 months ago
Wait, isn't it the Board that appoints the external auditor? I thought that was a standard corporate governance practice.
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Micah
10 months ago
That's right, the Board is usually responsible for appointing the external auditor.
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Tula
10 months ago
Yes, you are correct. The Board typically appoints the external auditor.
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Elmer
11 months ago
I'm pretty sure the finance director is the one who appoints the auditor. They're in charge of the finances, after all.
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Dortha
10 months ago
D) Chief operating officer
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Leonor
10 months ago
C) Shareholders
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Emerson
10 months ago
B) Finance director
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Vonda
10 months ago
A) The Board
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Gerardo
11 months ago
Actually, I believe it's the shareholders who appoint the external auditor because they have a vested interest in the financial statements.
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Felice
11 months ago
The shareholders definitely appoint the external auditor. That's a no-brainer!
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Lajuana
11 months ago
I agree with Ressie, the Board is responsible for appointing the external auditor.
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Ressie
11 months ago
I think the Board appoints the external auditor.
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