Question

Which agency oversees the fair reporting of financial information to investors of publicly traded shares?

1-Australia Securities and Investments Commission (ASIC)

2-Australian Taxation Office (ATO)

3-Australian Prudential Regulation Authority (APRA)

4-Australian Competition and Consumer Commission (ACCC)

which one is correct

Answer 1

Option (1) is correct.

Australian securities and investments commission (ASIC) oversees the fair reporting of financial information of publicly traded shares .ASIC is the independent government body which is st up to regulate the financial services, financial markets, corporates and consumer credits.

Option (2) is incorrect because Australian taxation office administers tax legislations.

Option (3) is incorrect because Australian prudential regulation authority oversees the working and procedures for financial institutions.

Option (4) is incorrect because Australian competition and consumer commission ensures that business's comply with the compettion laws, fair trade practices and consumer protection.