Financial reporting quiz for directors

This is a free 10 question multiple choice quiz to assist you in testing your knowledge of financial reporting.

The quiz focuses on the more technical elements of financial reporting rather than broader financial knowledge. For example, it doesn't test understanding of matters such as financial products or instruments, assessments for capital and funding decisions, financial processes and controls, or how decisions can impact on the future financial health of a company.

This quiz was developed by the Australian Securities and Investments Commission, Australian Institute of Company Directors, CPA Australia, The Chartered Accountants Australia and New Zealand and the Institute of Public Accountants.  The idea for the quiz came from a response to the survey on director financial literacy conducted by the Financial Reporting Council.


Completion of this quiz is confidential, no names or email addresses of participants are recorded for any reasons. Responses are collected by a third-party survey provider. IP addresses of respondents are hidden and are not available to ASIC.

Completion of the demographic data in the questionnaire is optional, and will only be used to help us refine the questionnaire in the future.

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What's new

Industry funding

ASIC has released its Cost Recovery Implementation Statement (CRIS), which includes estimated costs for ASIC’s 2017-18 regulatory activities. 6 Oct, 17-334MR

Review of 31 December 2016 financial reports

ASIC has announced the results from a review of the 31 December 2016 financial reports of 90 listed and other public interest entities. 17-219MR, 30 June

Inspection of audits for 2015–16

ASIC has released the results of its audit firm inspections for the 18 months to 31 December 2016, as well as three information sheets related to improving audit quality and our inspection process. 17-214MR, 29 June

Communicating ASIC’s findings from audit files,

This new regulatory guide provides transparency on our criteria and process for communicating financial reporting and audit findings. 17-200MR, 23 June

More releases on financial reporting and audit

Last updated: 23/03/2016 03:15