CAF-8 · Chapter 11 · Question 10 of 10
Which of the following documents is least likely to help in identifying related parties?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The office floor cleaning schedule.
Explanation
Administrative schedules for cleaning are irrelevant to identifying parties with financial influence or control. Investment records and conflict registers are highly relevant.
More Related Party Transactions MCQs
- Q2Management claims that all transactions with its parent company were conducted on 'Arm’s Length' terms. What is the auditor's…
- Q3Which of the following is an example of a Related Party for a corporate audit client?
- Q4During the audit, the auditor discovers a significant transaction with a company that was not disclosed as a related party by management…
- Q5Which of the following audit procedures would most likely help an auditor identify undisclosed related party transactions?
- Q6What is the primary disclosure requirement for Related Party transactions under IAS 24?