- This topic has 56 replies, 29 voices, and was last updated 7 years ago by
.
- Posts
The paper was OK. My poor time management caused me less organized for Q2 and Q4. Hopefully finger crossed. Best of luck for the result to you all 🙂
Hi, i know you must be mentally tired but would you mind telling me which topics came out for the P1? I was supposed to take the exam today but postponed it due to family reason.
- Topics: 0
- Replies: 1
- ☆
Mainly risk.
Was the answer for Q1b relating to 6 capitals? Does anyone remember by any chance?
These are what i can remember during the exam, no fully accurate but roughly the same.
Q4
(a) Risk attitude and how its affect the company behavior 6m
(b) why risk is dynamic and why risk assessment is important and how to conduct risk assessment 9m
(c) Risk committee roles and benefit if it made up by NEDs 10mQ2
(a) Explain the professionalism & what action and behavior should be done as internal audit leader and as a accountant 9m
(b) Determine ethical issues and Safeguard 9m
(c) AAA model for ethical issues 7mQ1
(a) Compare and contrast the accountability and ownership of PLC & PSO 8m
(b) How ethical stance for Corporate Social Reporting is different under PLC and PSO 8m
(c)(i) What is CSR strategy and approaches for CSR strategy 6m
(c)(ii) where can CSR embed in public department 4m
(d)(i) Use transaction cost theory to explain the selecting process by PSO 6m
(d)(ii)What is stakeholder claim and critically assess the claim of teacher and government 6m
(d)(ii)Impact of the remuneration package of head of school department and construct the case for changing the bonus structure 8mDuring my exam, I was flipping the optional question and i found that Q3 requirement was asked about internal control. This examiner is sucked because the way he asked the question is very different compare to the last few sittings.And i skipped Q3.
I did the question 2 and 4 first because I’m so afraid that i will running out of time if i try question 1 first.
Question 4 (a), I’m so confused that the risk attitude is influencing the company in past or in future decision?
I answered the company should do the action if it is risk seeker… and if it is risk averse.
But i feel like the requirement for this (a) is asking how the company’s behavior influencing its action in past & not asking for future. Luckily this is 6m questionQ4b & c is relatively easy since risk assessment and risk committee is quiet straight forward.
Q2(a), For me i think the tricky part is the action & behavior as a leader in internal audit department and as an accountant for ethical issue is roughly the same. I scare my points will be duplicated.
Q2(b) this is the worst sub question, it’s worth 9 marks but the fact is that ethical issue is not that much. I can only found 2 strong facts (he’s under pressure & not independence), but i have tried to split it out to 4 points although the ideas are roughly the same.
And one of my safeguard for ethical issue is break up with her girlfriend (since she is project manager), hopefully this can make the marker laugh and give me some extra marks hahahaQ2(c) AAA model is the easiest one in this Q2 since it is straightforward
Q1 was a disaster, this question is sucked and make me exhausted during my exam.
Q1(a) ask about accountability and ownership. This worth 8 marks and very hard for me to write so much of points for ownership.
I wrote agency relationship for PLC & PSO for explaining my ownershipp
And wrote objectives of PLC & PSO for explain how it discharge accountability.About 6 of the technical articles got tested
Transactional cost theory
The entire of CSR ethical dilemma
AAA model
Risk, dynamic, assessment, purpose of risk committee
Independence and NEDsThank god i read them just before exams
Q4 was all about risk: Appetite for risk, need for risk management and the role of a risk committee inc why it would be beneficial to be made up of NEDs.
Q3. Had a focus on risk coupled with systems of internal controls.
So if you did those two option questions, then 50% of your paper would’ve been risk orientated.
Q1 & Q2 weren’t about risk.
In question 2, what ethical threats did you all identify? And what did you guys say for safeguards?
@eneltonsatria said:
About 6 of the technical articles got testedTransactional cost theory
The entire of CSR ethical dilemma
AAA model
Risk, dynamic, assessment, purpose of risk committee
Independence and NEDsThank god i read them just before exams
Read them too just before exams, could not recall half of it ! ?
@jxlimzixuan said:
Q2(a), For me i think the tricky part is the action & behavior as a leader in internal audit department and as an accountant for ethical issue is roughly the same. I scare my points will be duplicated.Q2(b) this is the worst sub question, it’s worth 9 marks but the fact is that ethical issue is not that much. I can only found 2 strong facts (he’s under pressure & not independence), but i have tried to split it out to 4 points although the ideas are roughly the same.
And one of my safeguard for ethical issue is break up with her girlfriend (since she is project manager), hopefully this can make the marker laugh and give me some extra marks hahahaQ2(c) AAA model is the easiest one in this Q2 since it is straightforward
I struggled as well to evaluate the ethical threats in b). The only obvious one was Familiarity – he’s leading up the audit and she’s his girlfriend, which is a secret. So the safeguard there would’ve been to divulge that before the audit began.
I dropped in possible Intimidation since the girlfriend is putting him under pressure, but it doesn’t say what sort of pressure, so she might be threatening to break up with him.
Self Interest was another, since if she loses her job because of his audit report, then it could be financially costly for him if they have joint financial responsibilities so in his interests for her not to lose her job.
Confidentiality was the other one I mentioned. It seemed that he’d told her about the result before submitting his report. So it would a breach of confidentiality to be discussing the findings with the project manager being audited before submission to the board.
So asides from the obvious familiarity threat, the rest were just me reading between the lines of it and coming up with others.
The AAA part was an absolute gift though.
@jasvirdi said:
In question 2, what ethical threats did you all identify? And what did you guys say for safeguards?Threats:
Familiarity
Self-Interest (though kinda wish I reworded it to conflict of interest now)
IntimidationSome safeguards:
Accepting limited hierarchal responsibility for the audit i.e. don’t be the leader of the audit team in this case. That was for the familiarity one I said.
Referring to the IFAC code of ethics I suggested to safeguard against the intimidation threat. So basically go by the code and do what is right.
Another safeguard I suggested was to recourse to the audit standards. Can’t remember any others I suggested.
I could have, but didn’t, argue for advocacy. As in he would advocate for the project because somebody close is leading it.
Mentioned the IFAC code a fair few times in Q2 actually.
Including for the AAA model because the ethical norms in that situation for an Accountant would be to go by the code of ethics and to act with integrity and be objective.
Can someone please post Q3 in here – want to see the breakdown, I have something vague here below but, can someone please clarify
(a) Generic risk & risks which now have arose from the accident (7 marks)
(b) missing?? (4 marks)
(c) Internal controls and importance
(c) Recommend suitable internal controls
- The topic ‘*** ACCA P1 March 2018 Exam was.. Instant Poll and comments ***’ is closed to new replies.