CIMA Updated BA4 Exam Questions and Answers by melania

The review of the internal audit programme and significant findings of the auditors. The review of the company's systems of internal control. The review of the company's system to facilitate whistle blowing

The review of the company's financial statements and any interim reports produced. The review of the structure, size and composition of the board. The review of the company's internal control and risk management system

The discussion with auditors on any significant matters that arose during the audit. The recommendations on the appointment and removal of auditors. The setting of the audit fee in discussion with the auditors.

The review of the company's financial statements and any interim reports produced. The review of the company's systems of internal controls. The review of the audit report and any management letter provided by the external auditor

Brian is only contractually bound to Exe Ltd in respect of the provisions contained in the company's Articles of Association.

Brian is only contractually bound to Exe Ltd and the other present shareholders of the company in respect of the provisions contained in the company's Articles of Association.

Brian is only contractually bound to Exe Ltd and the present directors in respect of the provisions contained within the company's Articles of Association.

Brian is contractually bound to Exe Ltd and the present and future shareholders in respect of the provisions contained within the company's Articles of Association.  

(i) only

(ii) only

(i) and (ii) only

(ii) and (iii) only

A liquidated damages clause will be void if it amounts to a penalty clause.

A liquidated damages clause will apply where it is a genuine attempt to pre-estimate the loss caused by a breach of contract.

If a liquidated damages clause is held to be void, the innocent party cannot claim on a quantum meruit basis.

If a liquidated damages clause is found to be reasonable, the amount specified must be claimed, even if it is less than the actual loss caused by the breach.