ITB December 2024/January 2025 - Magazine - Page 63
5. Which career path would best suit a CPA
who enjoys working with cross-functional
teams to drive business performance, focusing
on both financial and non-financial metrics?
A. Tax consultant
B. Forensic accountant
C. Financial business partner
D. Financial accountant
6. Jonas wants to focus on advising high-net-worth
individuals on wealth management, estate
planning and retirement strategies. Which of
the following types of work would be most
relevant for this focus?
A. Financial planning and advisory services
B. Fraud detection and prevention
C. Information systems auditing
D. Investment analysis and portfolio management
7. Which area of expertise is becoming
increasingly important for CPAs due to changes
in global regulations and the growing focus
on corporate transparency and sustainability?
A. Advanced taxation
B. Financial planning
C. Environmental, social and governance (ESG)
reporting
D. Forensic accounting
8. Wanda is currently a CPA and wants to become
a public practitioner. Which of the following
is not a requirement to set up her own public
practice in Australia?
A. Obtaining a Public Practice Certificate from
CPA Australia
B. Completing the Public Practice Program
C. Earning a Chartered Financial Analyst (CFA)
certification
D. Obtaining professional indemnity insurance
9. As a CPA aiming to transition into a CFO
role, which of the following steps would best
prepare for this career advancement?
A. Pursuing advanced qualifications in finance
and management, such as an MBA or a master
of finance
B. Focusing exclusively on gaining more
experience in accounting roles without seeking
additional education
C. Specialising in a narrow niche within
accounting, such as tax compliance
D. Limiting your professional network to
accounting colleagues to increase your
knowledge of accounting
10. Which of the following tasks is generally not
a core responsibility of a financial analyst?
A. Developing detailed financial models and
forecasts to support investment decisions
B. Conducting strategic planning and high-level
corporate management
C. Analysing financial statements to identify
trends and provide actionable insights
D. Preparing reports and presentations on
financial performance for stakeholders
11. Which of the following actions would be
most effective for an entry-level accountant
seeking to gain exposure to the reporting
side of the business?
A. Volunteer to assist with the preparation of
monthly financial reports and variance analyses
B. Focus on routine bookkeeping tasks
C. Avoid participating in team meetings related
to financial reporting and analysis
D. Limit involvement to internal accounting
functions and avoid interacting with other
departments
12. Which of the following tasks is a financial
controller responsible for?
A. Overseeing the preparation and accuracy of
financial statements and reports
B. Developing and implementing long-term
financial strategies and business plans
C. Conducting market research and developing
new product lines
D. Managing day-to-day operations of the
marketing department
Check your answers
CAREERS intheblack.cpaaustralia.com.au 63