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CIMA Exam CIMAPRA17-BA3-1 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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Helene
2 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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Dorothea
1 days ago
D) Chief operating officer
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Dominic
2 days ago
C) Shareholders
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Tom
4 days ago
B) Finance director
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Chara
1 months ago
A) The Board
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Tammara
2 months ago
The chief operating officer? Really? That's like asking the fox to guard the henhouse!
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Alaine
1 days ago
B) Finance director
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Annice
5 days ago
C) Shareholders
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Dahlia
6 days ago
A) The Board
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Janine
11 days ago
B) Finance director
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Adolph
21 days ago
C) Shareholders
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Paris
27 days ago
A) The Board
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Yasuko
2 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
2 months ago
That's right, the Board is usually responsible for appointing the external auditor.
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Tula
2 months ago
Yes, you are correct. The Board typically appoints the external auditor.
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Elmer
2 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
2 months ago
D) Chief operating officer
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Leonor
2 months ago
C) Shareholders
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Emerson
2 months ago
B) Finance director
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Vonda
2 months ago
A) The Board
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Gerardo
2 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
2 months ago
The shareholders definitely appoint the external auditor. That's a no-brainer!
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Lajuana
2 months ago
I agree with Ressie, the Board is responsible for appointing the external auditor.
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Ressie
3 months ago
I think the Board appoints the external auditor.
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