Which of the following is NOT considered a person connected with a director?

Prepare for the ACA Corporate Reporting Exam. Engage with comprehensive flashcards and multiple choice questions, each with detailed hints and explanations. Ensure success in your exam journey!

In the context of corporate governance and reporting, the term "connected persons" often refers to individuals and entities that have a close relationship with a director, which could lead to potential conflicts of interest.

Directors' spouses, companies associated with the director (such as subsidiaries or partnerships), and trustees of a trust benefiting the director are all examples of individuals or entities that have a legal or financial connection to the director. These connections can impact decision-making and create a duty for transparency to avoid conflicts in corporate governance.

In contrast, colleagues at the director's workplace do not necessarily imply a direct personal relationship or financial interest. They may work together professionally, but this does not constitute the same level of connection as family members, business partners, or those managing the director's financial interests. As such, they are generally not classified as "connected persons" in the context of corporate reporting standards.

Therefore, the option referring to colleagues at the director's workplace is not typically seen as a person connected with a director, making it the correct answer to the question.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy