CIMAPRA17-BA4-1 Exam - Topic 1 Question 92 Discussion

Actual exam question for CIMA's CIMAPRA17-BA4-1 exam

Question #: 92
Topic #: 1

In the UK, the body responsible for taking an appropriate role in the development of statutes, regulations and accounting standards which affect the conduct of auditing and assurance services, both domestically and internationally is:

AThe Professional Oversight Board for Accountancy

BThe International Federation of Accountants

CThe Auditing Practices Board

DThe Financial Review Board

Show Suggested Answer

Suggested Answer: A, B, C

by Tamra at Jul 07, 2024, 02:51 AM

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Alaine

6 months ago

I doubt any of these really have a big impact on auditing standards.

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Marylou

6 months ago

Wait, is there really a Financial Review Board? Sounds new to me.

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Octavio

6 months ago

No way, it's the International Federation of Accountants!

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Lezlie

7 months ago

I thought it was the Professional Oversight Board for Accountancy.

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Kizzy

7 months ago

It's definitely the Auditing Practices Board!

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Chau

7 months ago

I'm leaning towards A, The Professional Oversight Board for Accountancy, but I could be mixing it up with another organization.

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Lashaun

7 months ago

I thought the Financial Review Board was involved in financial reporting, but I don't think they handle auditing standards.

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Junita

8 months ago

I feel like I came across a similar question about regulatory bodies, but I can't recall if it was the Professional Oversight Board or the International Federation of Accountants.

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Nina

8 months ago

I think the answer might be C, The Auditing Practices Board, but I'm not entirely sure. I remember studying about their role in setting standards.

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Cecilia

8 months ago

I think the key here is to focus on the UK context. The Professional Oversight Board for Accountancy seems like the most logical choice, as it's the body that would be responsible for overseeing the development of auditing and assurance standards in the UK. I'll go with that.

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Cherrie

8 months ago

I'm a bit confused by this question. I know the UK has various accounting and auditing bodies, but I'm not sure which one is specifically responsible for developing the relevant standards. I'll have to guess on this one.

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Arthur

8 months ago

Okay, let me break this down. The question is asking about the UK, so I can probably rule out the International Federation of Accountants. The Auditing Practices Board sounds promising, but I'll double-check the other options just to be sure.

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Roselle

8 months ago

Hmm, this is a tricky one. I'm not sure if the International Federation of Accountants or the Auditing Practices Board would be the right answer. I'll have to think this through carefully.

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Aracelis

8 months ago

I'm pretty confident I know the answer to this one. The Professional Oversight Board for Accountancy seems like the most relevant body for developing auditing and assurance standards in the UK.

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Shawnee

8 months ago

I think the key here is recognizing that portfolio management involves coordinating resources across different types of initiatives - not just projects, but also the ongoing business operations. So the right answer is D, which covers programme, project, and business as usual resource commitments.

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Emmett

8 months ago

I think an affinity diagram might be the tool we need here, since it's designed for organizing a lot of ideas into related groups.

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Lawrence

1 year ago

Auditing Practices Board? More like Auditing Dad Jokes Board, am I right? But hey, at least they keep things interesting!

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Filiberto

11 months ago

D) The Financial Review Board

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Rosendo

11 months ago

C) The Auditing Practices Board

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Kristal

11 months ago

B) The International Federation of Accountants

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Marti

12 months ago

A) The Professional Oversight Board for Accountancy

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Howard

1 year ago

The Financial Review Board? Hmm, I've never heard of that one. Gotta be the Auditing Practices Board, it's the obvious choice here.

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Frederica

1 year ago

The Professional Oversight Board for Accountancy? Sounds legit, but I think that's more of a regulatory body, not the one responsible for developing standards.

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