• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

opentuition note

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › opentuition note

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • February 13, 2020 at 6:58 am #561605
    toushiga
    Participant
    • Topics: 424
    • Replies: 172
    • ☆☆☆☆

    Hello Sir,
    I have some question about Opentuition AAA notes

    Under Chapter 4 – Solution 2 – Safeguards to reduce threat to an acceptable level (only five were asked for)

    1.The last one I can’t understand. What is request second opinion by a company that not an existing client?

    2.And chapter 5-risk factors. Why the tax heaven and bearer bond/cheques will have higher risk of money laundering? Can you clarify for me? Thank you.

    February 13, 2020 at 3:36 pm #561678
    Kim Smith
    Keymaster
    • Topics: 134
    • Replies: 8304
    • ☆☆☆☆☆

    This is a very useful reference for more details on anything to do with ethics … https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/ethics/CEC.pdf

    A request for a “second opinion” describes the situation when someone (NOT an existing client) approaches a professional accountant (NOT the existing auditor) and basically says “what is your opinion of such-and-such a situation” – where the situation “hypothetically” described is their own situation and they are at odds with their own auditor.

    If there are terms you haven’t come across like “bearer bond” – just browsing for a definition on the internet will provide you with a quicker response. Unlike many bonds which, like shares, are registered, bearer bonds are negotiable instruments – the holder is deemed the owner – because ownership is not registered they could be used to launder money. You should associate the term “tax haven” with a jurisdiction which has low(er) rates of taxes – which should ring “alarm bells” of tax evasion – which is a money laundering offence.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • DeborahProspect on ACCA SBR Specimen Exam 2 Question 1
  • darshan.69 on Chapter 9 Pension Schemes TX-UK FA2023
  • darshan.69 on Chapter 9 Pension Schemes TX-UK FA2023
  • Jarzin on The Finance Function in the Digital Age – CIMA E1
  • dkessilfie on FM Chapter 1 Questions – Financial management objectives

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in