Accounting Multiple Choice Question – 14 April 2025

The recent financial statements of Big Staffie plc, a company listed on the London Stock Exchange, departed from the requirements of certain relevant accounting standards and provisions of the Companies Act 2006.

Big Staffie plc is therefore likely to be referred to which of the following regulatory bodies?

Select ONE answer:

1. The Prudential Regulation Authority
2. The Financial Conduct Authority
3. ICAEW
4. The Financial Reporting Council

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct == > The FRC, via the Conduct Division’s Financial Reporting Review Panel, investigates departures from relevant accounting standards by large companies such as those listed on the LSE.

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