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

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?
A) The Board
B) Finance director
C) Shareholders
D) Chief operating officer

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
10 months ago
Really? I didn't know shareholders had that power. Sounds surprising!
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Emmett
10 months ago
Wait, are you sure? I thought the finance director had a role in this.
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Julie
10 months ago
Definitely the shareholders, they have the final say!
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Reyes
11 months ago
I thought it was the board that did that?
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Brock
11 months ago
It's usually the shareholders who appoint the external auditor.
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Roxane
11 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
11 months ago
I have a feeling it could be the finance director, but that seems less common.
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Irene
11 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
11 months ago
I think the external auditor is usually appointed by the shareholders, but I'm not entirely sure.
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Nieves
11 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
11 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
1 year 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
1 year ago
C) Shareholders
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Tula
1 year ago
Shareholders are the ones who appoint the external auditor.
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Dorothea
1 year ago
D) Chief operating officer
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Dominic
1 year ago
C) Shareholders
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Tom
1 year ago
B) Finance director
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Chara
1 year ago
A) The Board
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Tammara
1 year ago
The chief operating officer? Really? That's like asking the fox to guard the henhouse!
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Alaine
1 year ago
B) Finance director
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Annice
1 year ago
C) Shareholders
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Dahlia
1 year ago
A) The Board
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Janine
1 year ago
B) Finance director
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Adolph
1 year ago
C) Shareholders
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Paris
1 year ago
A) The Board
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Yasuko
1 year 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
1 year ago
That's right, the Board is usually responsible for appointing the external auditor.
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Tula
1 year ago
Yes, you are correct. The Board typically appoints the external auditor.
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Elmer
1 year 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
1 year ago
D) Chief operating officer
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Leonor
1 year ago
C) Shareholders
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Emerson
1 year ago
B) Finance director
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Vonda
1 year ago
A) The Board
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Gerardo
1 year 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
1 year ago
The shareholders definitely appoint the external auditor. That's a no-brainer!
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Lajuana
1 year ago
I agree with Ressie, the Board is responsible for appointing the external auditor.
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Ressie
1 year ago
I think the Board appoints the external auditor.
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