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June 2010 P1 exam results

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Free ACCA Paper P1 December 2010 notes

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June 2010 Exam tips

1) Something to do with External and Internal Actors – Student Accountant Article from August 2009 . Scenario involving chair who is also chief exec, too few neds, domination by one person and ineffective other board members. Role of Corporate Governance and critical commentary about why this company fails and how it could improve. 5 marks worth of definition about transparency and integrity

2) Report ( or memo ) requiring identification of business risks and recommendations of how to best manage those risks

3) Role, function and responsibilities of internal auditors and maybe a comparison with external auditors

4) Scenario question with some very questionable ethical activities – maybe incorporating problems for both directors and auditors

Examiners Recommended Reading

Solomon, J (2006). Corporate Governance and Accountability Chichester: John Wiley and Sons.

Monks, A. G. and Minow, N Corporate Governance Third edition. Malden MA: Blackwell.

Crane, A. & Matten, D. (2003).Business Ethics Oxford: Oxford University Press.

Gray, R, Owen, D and Adams C (1996). Accounting and Accountability Prentice Hall, London.

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