The role of the Australian Securities and Investments Commission is to:
I. enforce and administer the Corporations Act.
II. make information about companies and other bodies available to the public as soon as practicable.
III. issue accounting standards for reporting entities.
IV. maintain, facilitate and improve the performance of the financial system and entities in it.

Question

The role of the Australian Securities and Investments Commission is to: 
I. enforce and administer the Corporations Act.
II. make information about companies and other bodies available to the public as soon as practicable.
III. issue accounting standards for reporting entities.
IV. maintain, facilitate and improve the performance of the financial system and entities in it.

Quizplus · Accepted Answer

The role of the Australian Securities and Investments Commission (ASIC) is to primarily enforce and administer the Corporations Act (I) and maintain, facilitate and improve the performance of the financial system and entities in it (IV). ASIC does make some information available to the public as soon as practicable (II), but this is not its primary role. ASIC does not issue accounting standards for reporting entities (III); rather, this is a responsibility of the Australian Accounting Standards Board (AASB). Therefore, option C - I, II and IV only - is the correct answer.

The Role of the Australian Securities and Investments Commission Is