Public sector companies are ultimately accountable to which of the following?

Prepare for the ACCA F1 Certification Exam with detailed quizzes featuring multiple choice questions and explanations. Enhance your understanding and ensure success in your exam!

Public sector companies operate under the jurisdiction of the government and are established to serve the public interest. The ultimate accountability of these companies lies with Parliament. This accountability is essential as Parliament represents the citizens and ensures that public resources are utilized effectively and transparently. Public sector organizations must report on their performance, financial management, and overall conduct to Parliament, which checks the alignment of these organizations with government policy and public needs.

Parliament also plays a critical role in the legislative framework that governs public sector companies, including approving budgets and scrutinizing expenditure. This relationship reinforces the democratic principle of accountability to the public through elected representatives.

The other options, while they may hold influential positions within the government, do not serve as the primary accountability point for public sector companies. The United Nations is an international body that does not regulate individual countries' public sectors, and the Prime Minister and Finance Minister, while key figures in governance, operate within the broader framework set by Parliament. Thus, the answer highlighting Parliament as the ultimate accountability entity captures the foundational principle of democratic governance and public sector oversight.

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