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ACCA P1 June 2014 Exam tips
kaplan
• Corporate governance critique and improvements.• Effective internal control systems, reporting within differing jurisdictions.
• Influence of and intervention by institutional investors.
• Function and importance of internal audit.
• Risk definition, analysis of risk and the role of board of directors.
• Risk correlation and strategies for management of such risks.
• Kohlberg’s human moral development theory.
• Ethical standpoints and their application to business decisions.
LSBF
P1
• Role of chairman.
• Induction/performance appraisal. • Institutional investors.
• AGM/proxy voting.
• Global standards.
• Failure in internal control.
• Auditor conflict.
• Risk committees.
• Risk audit.
• Absolutism and relativism.
• Kohlbergs model.
Open
Q1 5 part 50 mark question touching on risk, ethics, environment, internal controls with 16 – 18 marks for drafting a report / briefing notes / press release / magazine article
Q2 Corporate governance with internal auditors and internal controls. Risk management committee, mitigation (according to a recent SA article, risk
management and a sound system of internal control are “inextricably intertwined”)Q3 Sub-committees under corporate governance, their roles, functions, objectives, make up
Q4 Kohlberg and attitudes to ethics compared with Gray, Owen and Adams and their 7 sub-categories
OR! Accountancy as a profession
OR! Deontology and teleology
First institution
P1
• 50-mark scenario question, to include: ethics, AAA model, rules vs. principles governance, also corporate social responsibility.
• Optional questions to include: importance of internal controls, NEDs and remuneration committee and structure of directors remuneration, business risks, Gray Owens and Adams.
