CIMAPRA19-P03-1 Exam Dumps - Updated Apr 2024

Y Company wishes to recruit an employee who will have responsibility for the receipt and handling of cash

From the point of view of the internal auditor which THREE of the following would be most likely to provide useful information about the candidate"?

AConfirmation that the candidate does not have a criminal record

BThe candidate's personal referees

CThe candidate's membership of a professional body

DThe candidate's academic qualifications.

EReferences from previous employers of the candidate.

Question 2

COM is a well established company in the construction industry The company was founded by the Mac family 30 years ago and several family members still serve on the Board The company obtained a listing five years ago The Board has an appropriate balance between executive and non-executive members It also has audit remuneration and nomination committees The average age of board members is 68

COM is profitable but profit margins have been falling steadily and this year's revenues are lower than it was achieved last year The Board recognis thai it does not have a long term strategy in place and has been losing business to newer, more aggressive competitors

Which THREE of the following statements are correct?

AThe remuneration committee should consider incentives such as share options to encourage the Board to focus on COM's long term strategy

BThe nomination committee should have had a succession plan in place for directors.

CThe nomination committee should be operating for the benefit of the directors.

DThe audit committee should have alerted the Board to the impact of falling profit margins

EThe non-executive directors should have challenged the lack of long term strategic planning

Question 3

Which THREE of the following are true with regard to managing the changeover from an old to a new computer system?

APilot changeover moves the simplest part of the business to the new system first

BParallel running involves keeping the old system running normally until certain data retention criteria are met or confidence is gained, while the new system deals with the new workload Data input is usually earned out on both systems

CAll methods of changeover carry high risk and it is the preparation consideration of data compatibility and data cleansing before the changeover which has the biggest impact on the smoothness of the transition

DPhased changeover moves individual portions of the business to the new system one at a time

EDirect changeover, or big bang, is only used when the systems are significantly different such that comparing the outputs of the two systems is largely irrelevant

FPhased changeover is the safest and slowest method of changeover

Question 4

CW is a large company in the food production industry. It has grown over the years by the acquisition of several smaller rivals CW has ten branches located in its home country and has just opened a foreign branch for the first time It has recently made some changes to the structure and implementation of its control system.

Which TWO of the following changes would be most likely to improve the overall control system?

ACW has just opened a bank account in the currency in which the newly opened branch is now operating

BEstablishing an internal audit department

CExcess funds are now invested, by the finance director, in short-term securities The finance director initiates buy and sell transactions and she also receives and retains all correspondence relating to the investments

DPurchase invoices are now approved for payment at branches and a list of approved invoices are sent to head office for payment The invoices, supporting documentation and suppliers' statements are retained at the branches

EA policy has been initiated to complete a physical inventory of all non-current assets at least annually This is then reconciled with the non-current asset register

Question 5

YY is a company which generates electricity from alternative energy sources It has just begun constructing a wind farm near a well-known beauty spot The protect has been controversial as campaigners say it will be noisy and unsightly.

The campaigners took legal action but lost the case Some of them have started a campaign of direct action against YY and are physically blocking roads leading to the site and attempting to intimidate YY's staff

YY has hired a security company to help it to protect its staff

Which of the following statements are view in relation to the ethics of this scenario''

Select ALL that apply.

AYY is within its rights to hire the security firm because it has duty of care to its employees

BThe security firm must take care not to use more force against the protestors than is absolutely necessary.

CYY no longer has any duty of care to the protestors since their actions are illegal because they lost their court case

DThe generation of electricity from clean renewable and sustainable sources is too important for the protestors' concerns to be considered

ESince the protestors have already lost their court case they would no longer be ethically justified in engaging in political lobbying to try to get the government to change the law in this area

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