[jxlimzixuan]

I get 85% mark from my first P2 attempt.
Luckily this march exam is very easy since CFlow&a financial instrument never came out.
now focus on my P4&P7
Hopefully all candidates can pass in one shot!

[jxlimzixuan]

I guess not. Nothing to do with <IR> report.

[jxlimzixuan]

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.

[jxlimzixuan]

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 hahaha

Q2(c) AAA model is the easiest one in this Q2 since it is straightforward

[jxlimzixuan]

During 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 question

Q4b & c is relatively easy since risk assessment and risk committee is quiet straight forward.

[jxlimzixuan]

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 10m

Q2
(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 7m

Q1
(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 8m

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