Accounting Multiple Choice Question – 28 May 2025

Big Staffie plc is considering the company’s systems of risk management and internal control.

Under the requirements of the UK Corporate Governance Code, who is responsible for maintenance of sound risk management and internal control systems?

Select ONE answer:

1. Just the executive directors
2. Just the non-executive directors
3. The entire board of directors
4. The audit committee

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 3

1. Not correct
2. Not correct
3. Correct == > The entire board is responsible: main principle C2 (accountability: risk management and internal control) of the Code.
4. Not correct

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