Term
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Definition
A social arrangement for the controlled performance of collective goals
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Term
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Definition
| How the business sees itself in the future |
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Term
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Definition
| The business's basic function in society - "sets the main direction of the firm" |
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Term
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Definition
Specific
Measurable
Achievable
Relevant
Timebound
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Term
Three E's resource measurement.
Explain each |
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Definition
Economy, effectiveness and efficiency.
Ec- reduc in costs
Effe - measure of achievment
Efficiency - prev 2 combined. Being effective at min cost. |
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Term
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Definition
| A person's liability to be called to account |
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Term
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Definition
| Authority and power, not responsibility |
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Term
| Diff between a staff manager and functional manager |
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Definition
Staff manager gives specialist advice to someone who they have no line authority over
Functional manager - where manager has authority to direct, design or control activities in another department |
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Term
| Which managers are numerous and responsible for ensuring operational staff do what is required |
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Definition
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Term
| Define informational managerial role |
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Definition
| Checks data received and passes it on, also acts as spokesperson |
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Term
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Definition
| Acts as leader for his team, and links with manager from other teams |
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Definition
| Allocate resources, negotiate, solve problems and act an entrepreneur. |
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Definition
| Common assumptions, values and beliefs people share |
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Term
| Quadrant of business cultures - acronym and explain |
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Definition
IFCO HIOR
Internal process + open systems |
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Term
| Sales orientation marketing |
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Definition
| Desire to sell more of product / service |
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Term
| Production orientation marketing |
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Definition
| Making as many units as possible |
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Term
Product orientation marketing
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Definition
| Comp thinks it's the best product |
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Term
Marketing mix - 4 Ps
Then, extra 3 for services |
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Definition
Product, price, placement, promotion and place
People, processes(e.g. delivery) and physical evidence |
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Term
| An example of a car's augmented product |
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Definition
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Term
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Definition
| Cost, competition, customer and corporate strategy |
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Term
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Definition
| Ensuring intermediaries stock product so are available to sell |
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Term
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Definition
| Persuading CONSUMERS to buy |
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Term
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Definition
Acqui of goods or services at
best cost
right quantity
right quality
right time
from the right source
and right place |
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Term
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Definition
Human resource management
Commitment, competence, congruence and cost-effectiveness |
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Term
Stages of group development
Each stage |
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Definition
Forming, storming, norming and performing
F - objectives, S-roles, N-work pattern, P-gettin on with it |
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Term
| 4 Basic leadership styles |
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Definition
| Tells, sells, consults and joins |
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Term
| What's the name for a company structure that has no fixed structure. |
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Definition
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Term
What are the qualities of a machine bureaucracy?
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Definition
| Old-fashioned, static and has a standardised of skills. |
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Term
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Definition
| Chain of command from most senior to most junior employee. |
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Term
| 3 Levels of strategy from top to bottom - both form |
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Definition
Strategic, Tactical and Operational.
&
Corporate, Business and Functional |
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Term
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Definition
| Materials, money, management, management information, markets, men & women, make-up, machinery and methods |
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Term
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Definition
| Remember, you hold and harvest the cow |
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Term
| Describe stakeholder mapping - Mendelow |
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Definition
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Term
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Definition
| The difference between where we will be if we continue on this path, and where we want to be. |
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Term
| Johnson and scoles - criteria for evaluation and choosing of strategy |
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Definition
| Suitability, feasibility, acceptability (to stakeholder) |
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Term
| Qualities of good information |
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Definition
ACCURATE
Accurate, complete, cost-effective, user targeted, relevant, authoritative, timely and easy to use |
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Term
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Definition
CATIVA
Completeness, accuracy, timeliness, inalterability, verifiability and assessability |
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Term
| Qualities of secure information |
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Definition
ACIANA
Availability, confidentiality, integrity, authenticity, non-repudiation and authorisation. |
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Term
| Limitations of financial statements |
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Definition
| Conventional representation, omission of non-financial and backward looking |
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Term
| 4 things on balanced score card |
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Definition
| Customer, internal process, learnng and devel and financial |
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Term
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Definition
| Social, economic and environmental |
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Term
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Definition
| Producing whilst taking into account all external costs and benefits |
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Term
| Qualities of perfect competition |
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Definition
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Term
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Definition
| One supplier, many buyers, barriers to entry, |
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Term
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Definition
| Many buyers and sellers, not homogenous products, branding to achieve differentiation + sig advertising, few barriers to entry, |
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Term
| Qualities of oligopolistic competition |
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Definition
Few large seller, large number of buyers
Product differentiation
Cuts always copied, increases not always |
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Term
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Definition
Two dominant sellers
Temptation to collude |
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Term
| External strategic things |
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Definition
Threats and oppos
PESTEL
Porters 5 forces
Corporate appraisal |
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Term
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Definition
Industry competitors
Potential entrants
Suppliers
Buyes
Substitute industries |
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Term
| Internal strategy considerations |
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Definition
Strengths and weaknesses
BCG
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Term
| Stages of strategic analysis - starts with analysis |
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Definition
Analysis
Choice
Implementation
Review and control |
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Term
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Definition
Position
Play
Plan
Pattern
Perspective |
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Term
| Decision support system, when are they used? |
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Definition
When there is some uncertainty, semi-unstructured decisions.
E.g. investment appraisal |
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Term
| What type of decisions are management support systems involved in? |
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Definition
Involved in structured decisions
IMP: Can be reduced to a series of rules |
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Term
| What percent, excluding chair must be non-execs? |
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Definition
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Term
How often must a board review itself?
And externally? |
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Definition
| Every year and every 3 years |
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Term
| What would stop a board member being independent? |
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Definition
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Term
| How many people should be on the remuneration comm? |
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Definition
| 3, but two if it's a small company |
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Term
| Make-up necessary for a audit comm |
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Definition
| 3 non-execs, two if small (one with relevant financial knowledge) |
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Term
| Working days notice for AGM |
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Definition
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Term
| Who has to comply or explain |
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Definition
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Term
| Who can shareholders chat to? |
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Definition
| Senior independent director |
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Term
| Who should the chairman hold meetings with, and who shouldn't be there? |
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Definition
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Term
| What percentage of nominations committee should be NEDS? |
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Definition
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Term
| Who can chair the NOM committee? |
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Definition
| The Chairman can, or a NED, but not if it's for a new Chair |
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Term
| Who is responsible for training and informing the dirs? |
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Definition
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Term
| How many NED should be on remuneration comm? |
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Definition
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Term
| Phillipa Back - ethical leader |
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Definition
FACOH
Fair mindedness
Ability to listen
Courage
Openess
Honesty |
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Term
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Definition
| Number of people reporting to one person |
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Term
| Min number of directors of a private company |
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Definition
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Term
| Min number of dirs of a public company, plus share cap |
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Definition
| 2, and 12,500 paid up share cap |
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Term
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Definition
| Relationship between company and external world |
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Term
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Definition
| Relationship between company and shareholders |
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Term
| Internal controls mneonic |
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Definition
CRIME
Control activities
Risk management
Information and communication
Monitoring
Environment |
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Term
| Which finance function ensures that resources are properly controlled, and what's it's called? |
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Definition
| Main finance function, ensures that resources are properly controlled, it's called stewardship |
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Term
| ICAEW 5 Fundamental principles |
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Definition
Profressional competence
Integrity
Confidentiality
Objectivity
Professional behavious |
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Term
| How many Consultative Committee of Accounting Bodies are there? |
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Definition
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Term
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Definition
Market confidence
Public awareness
Consumer protection
Reduction in financial crime
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Term
| Outline complaints process |
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Definition
Conciliations
Investigation committee
Disciplinary committee (can appeal decison through Appeals Comm)
A/c invest and disc board of FRC |
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Term
| What is the key building block of a machine bureaucracy? |
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Definition
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Term
What is the key building block of a simple structure?
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Definition
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Term
| What three things could an accountant do to be bought before the ICAEW's professional conduct board? |
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Definition
Not follow guidance
Breach regs
Bring inst. into disrepute |
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Term
| What's the global accountancy body called? |
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Definition
| IFAC, Int Fed of Accountants |
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Term
| What's the British collection of accounting bodies grouped under? And how many members does it have? |
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Definition
| Consultative Comm of Accountancy Bodies, 6 |
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Term
| What's the independent UK regulator called for accountants? |
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Definition
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Term
| What are the three stages of a complaint? |
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Definition
| Conciliation, investigation and disciplinary proceedings |
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Term
| What percentage of the investigations comm aren't accountants? |
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Definition
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Term
| IFAC and ICAEW's code of ethics |
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Definition
- Integrity
- Objectivity
- Professional Competence and Due Care
- Confidentiality
- Professional Behaviour
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Term
| Who investigates work based pensions, then who investigates private pensions |
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Definition
FSA private
Pensions Reg, work based |
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