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Financial Disclosure Compliance Quiz

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Questions and Answers

What is NNPC Limited committed to in terms of financial disclosure?

Full and accurate financial disclosure in compliance with applicable laws, rules, and regulations (correct)

Partial financial disclosure to maintain confidentiality

Financial disclosure based on internal policies only

No commitment to financial disclosure

What is the consequence of intentionally bypassing NNPC Limited’s authorisation channels for access to and use of its assets and resources?

No consequences for bypassing authorisation channels

Subject to disciplinary action (correct)

Rewarded for taking initiative

Promotion for bypassing authorisation channels

What must NNPC Limited employees ensure in terms of financial activities and transactions?

Record and report in compliance with IFRS standards, governmental regulations and corporate policy (correct)

Record inaccurately to favor the company's position

Record based on personal preferences

Avoid recording and reporting financial activities

What is the primary purpose of NNPC Limited's system of internal accounting controls?

To ensure the reliability, adequacy, and integrity of financial records and statements Signup and view all the answers

According to NNPC Limited's Code of Conduct, what should employees do in relation to financial transactions?

Ensure that all transactions are approved in line with NNPC Limited’s delegation of authority and corporate policy Signup and view all the answers

What should employees do if they discover errors or misstatements in NNPC Limited’s books and records?

Report all errors, possible errors, or misstatements to the Chief Financial Officer upon discovery Signup and view all the answers

What is prohibited in relation to financial transaction support documents according to NNPC Limited's policies?

Intentionally destroy financial transaction support documents or store them outside designated office premises or locations Signup and view all the answers

What should employees do if they encounter irregularities or weaknesses in relation to auditing, accounting, or internal control matters?

Promptly report all irregularities or weaknesses to management Signup and view all the answers

What is a requirement for financial transactions according to NNPC Limited's policies?

Financial transactions must be captured completely and accurately in the relevant accounting periods Signup and view all the answers

What should employees do in relation to NNPC Limited’s funds and resources?

Not utilize NNPC Limited’s funds or resources for any purposes other than that described by their supporting documents Signup and view all the answers