Question: (a) Developing IFRS requires due process to be followed and International Consultation Briefly describe the 6 stages involved in this process. (6 Marks) (b) An

(a) Developing IFRS requires due process to be followed and International Consultation Briefly describe the 6 stages involved in this process.

(6 Marks)

(b) An International Code of Ethics for professional Accountant was developed by International Federation of Accountants (IFAC) with the sole aim of promoting consistency and a foundation for countries to develop their own code.

Explain the five fundamental principles which members must comply with as set out by

the ACCAs Code of Ethics and Conduct?

(5 Marks)

(c) Critically evaluate the influence of Internal audit function on good corporate governance in a commercial environment.

(9 Marks) (Total 20 Marks)

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