New goals for management commentary?

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. What is the purpose of a practice statement?

  2. How many areas of content are included in the proposed new Practice Statement?

  3. Which of these is the purpose of the new planned framework?

  4. Which, if any, of the following areas are included in the existing practice statement? Area 1 - Resources and relationships, or Area 2 - Risks

  5. Which of the following features do the Board think should be included within management commentary?

  6. Which of the following describes the approach taken for the new framework?

  7. Which of the following identifies what material information is likely to consist of in the management commentary?

  8. How many types of objective are included in the new guidance?

  9. Which, if any, of the following statements is/are true? Statement 1 - Management should consider assessment objectives when producing management commentary, or Statement 2 - Management should consider specific objectives when producing management commentary

  10. Which, if any, of the following statements is correct? Statement 1 -The revised framework will provide a checklist for management commentary compliance, or Statement 2 - Listed entities reporting under IFRS will all be required to follow the new Practice Statement

1 Unit