ACCA P1 Governance, Risk & Ethics

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ACCA Paper P1 – Key to success

Nature of the ACCA P1 paper

ACCA P1 Paper – Governance, Risk and Ethics – aims to develop a student’s knowledge and the skills to be able to exercise professional judgement and ethics in practical situations which they will inevitably face as qualified accountants.
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Free ACCA P1 June 2013 notes

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ACCA P1 June 2013 Exam tips

Question 1

Dominant director who fails to comply with corporate governance ( in many ways ). Advise what changes are necessary to bring company into compliance. Role of an internal auditor and importance of internal controls. How may the appointment of non-executives help the company – what role could they play?

Question 2

Identification of business risks facing a company and how they could be managed

Question 3

Importance of “The management commentary” and what matters could be included.  Construct an argument why such a commentary should be mandatory.

Question 4

Apply Kohlberg ( or Gray, Owen and Adams ) to a situation

Possible – the role of one of the board sub-committees – any one of remuneration, nomination, risk, audit or ethics

Be prepared to need to use a calculator in the exam

Please Note

Tips should not be relied on – they are only intelligent guesses.
Their only purpose is to give you suggestions for topics to concentrate on in your last few days of preparation. Do not exclude other topics from your overall preparation.

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.

These books are recommended by the examiner . If you are having problems with a particular paper, or if you want to do extra reading out of interest, then you might them useful.
The most efficient way of obtaining them is from Amazon in the UK.