answering challenge questions

answering challenge questions

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Practical exPerience requirements (Per) challenge questions samPle answers 01 03 04 05 08 10 13 15 17 19 Demonstrate the application of professional ethics, values and judgement Raise awareness of non-financial risk Manage self Communicate effectively Improve departmental performance Prepare financial statements for external purposes Contribute to budget planning and production Evaluate potential business/investment opportunities and the required finance options Prepare for and collect evidence for audit Evaluate and compute taxes payable 6 7 8 10 12 13 14 15 16 17 4 5

answering challenge questions

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practical
Besides, I also realized that if all of my colleagues started to expect me to bend the rules for them, there would be no system in place, and this would be detrimental to the organisation. Thus, I politely advised my colleague to seek the general manager’s approval first before the disbursement could be made. My decision proved right, because I found out subsequently that the general manager was very keen to review internal control procedures, including petty cash disbursements and was going to clamp down on unauthorised or unnecessary entertainment expenses. question 2 what DiD you learn from this exPerience anD how will it influence your future behaviour in the workPlace? sample answer I learnt that we should not fall back on assumptions, no matter how usual/often the procedure is carried out. We should also ensure adherence to internal rules and regulations to ensure an effective and optimal control system exists and is followed within the organisation. As an accountant, I am placed in a position in which I fully understand the standards, values and controls that should be in place in any respectable organisation. Therefore, I agree to uphold the correct ethical standards and moral values in the daily operations of my work. question 3 what woulD have been the imPact haD you not behaveD ethically in this situation? sample answer If I were to behave unethically and had paid out the petty cash to my colleague, I may have been highly regarded by my