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

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

SPECIMEN QUESTION EXL part 1

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › SPECIMEN QUESTION EXL part 1

  • This topic has 6 replies, 2 voices, and was last updated 1 year ago by MikeLittle.
Viewing 7 posts - 1 through 7 (of 7 total)
  • Author
    Posts
  • March 26, 2022 at 10:10 am #651912
    Safiya.12345
    Participant
    • Topics: 62
    • Replies: 112
    • ☆☆

    Background

    EXL Co is a company which sources designer bathroom products from both UK-based and overseas suppliers. Most of EXL COUs overseas business is carried out by local agents on its behalf. Adam, the managing director of EXL Co, wants to be sure that the company is complying with the requirements of the UK Bribery Act 2010, The following matters have come to his attention and he has asked for your advice

    March 26, 2022 at 11:16 am #651927
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22832
    • ☆☆☆☆☆

    Hmmm. I don’t know where to begin my advice.

    Maybe you can help me?

    OK?

    March 28, 2022 at 12:05 am #652077
    Safiya.12345
    Participant
    • Topics: 62
    • Replies: 112
    • ☆☆

    Following matter ( part 2)

    Ravi, a director of EXL Co was recently invited to an event hosted by a potential supplier, PNK Co. EXL Co is in the process of considering proposals from PNK Co and two other companies and will award a lucrative contract to one of them. During the event, it was announced that Ravi-had won a new car in a free prize draw. An employee of PNK Co joked with Ravi that winning the car should help PNK Co win the EXL Co contract. At the board meeting which followed. Ravi cast his vote in favour of PNK Co being awarded the contract.

    March 28, 2022 at 12:09 am #652078
    Safiya.12345
    Participant
    • Topics: 62
    • Replies: 112
    • ☆☆

    Part 3

    One of the company s agents overseas is making payments to government officials in order to expedite export licences for goods sent to the UK.

    Which of the following statements regarding the actions of EXL Co s agent overseas is correct?

    1.EXL Co has potentially committed the offence of failure to prevent bribery

    2. No offence has been committed by EXL Co, since its contact overseas is an agent and not an employee

    3.EXL Co has potentially committed the offence of bribing a foreign public official

    4 No offence has been committed by EXL Co, since the events occurred overseas and not in the UK
    Ans is 1 why not 3 since he bribed a foreign public official

    March 28, 2022 at 7:30 am #652087
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22832
    • ☆☆☆☆☆

    You’ve given me no options for part 2 question, so I still cannot help

    As for part 3, it wasn’t EXL Co that paid the foreign government official. It was the agent

    That payment is certainly contrary to the Bribery Act and is a criminal offence. But it wasn’t EXL Co that committed that offence, so it cannot be option 3

    However, EXL Co clearly doesn’t have the company culture to insist that their agents, both ‘at home’ and overseas, are prevented from actions that are in contravention to the Bribery Act

    So the company has failed to institute internal controls to prevent such contraventions from taking place and that, too, is a criminal offence

    So option 1 is the correct solution

    OK?

    March 28, 2022 at 12:49 pm #652107
    Safiya.12345
    Participant
    • Topics: 62
    • Replies: 112
    • ☆☆

    Thank u so much sir ,really appreciate ur efforts to clarify my doubt’s like thank u so much

    March 28, 2022 at 7:03 pm #652165
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22832
    • ☆☆☆☆☆

    As always, you’re welcome

  • Author
    Posts
Viewing 7 posts - 1 through 7 (of 7 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

Changes to the SBL exam from September 2023

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

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

Subscribe to ACCA’s Student Accountant Direct

 

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

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

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • vvian on MA Chapter 2 Questions Sources of Data
  • vvian on MA Chapter 2 Questions Sources of Data
  • Liz7827636 on IASB Conceptual Framework – Introduction – ACCA Financial Reporting (FR)
  • Patrickizzo on Accounting for overheads part 3 – ACCA Management Accounting (MA)
  • John Moffat on Investment Appraisal Under Uncertainty: Sensitivity Analysis (example 1) – ACCA Financial Management (FM)

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy