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Q2 , in c, that safguards you wrote?
Q3 in c, about principals, does it meam fundumental pricipals about corporate governance…I could remember only it.
@faronaldolegend said:
My fellow Question 2ers what did you write for ethical roles and responsibility of auditors/accountants and their influence.I took it as meaning Integrity, Objectivity, Confidentiality, Competence and Professional Behaviour.
Yea, I also wrote about professinal principals in q2 p. A
@isida85 said:
Q2 , in c, that safguards you wrote?Q3 in c, about principals, does it meam fundumental pricipals about corporate governance…I could remember only it.
Yeah Q 2C was in relation to ethical safeguards i.e. regular audit partner rotation, requirement of ACCA for CPD, Ethical culture in entity, etc.
I did not attempt Q 3 so can’t answer.
in Q1 d i) what we were supposed to write to shareholder as Chairman about fiduciary duty etc?
You guys, where does TARA come in? Coz I thought the techniques were those in the question! Which I used and mentioned which risks they mitigated! I didn’t use TARA! Oh God! I hope I do get marks ???
@trishee said:
You guys, where does TARA come in? Coz I thought the techniques were those in the question! Which I used and mentioned which risks they mitigated! I didn’t use TARA! Oh God! I hope I do get marks ???I am confident TARA was not involved. It’s a risk assessment framework right? This was about mitigating risk.
You were to asses their ways of mitigating risk so you were right to base it off those. I also added as part of my assessment how they could improve their risk mitigation going forward with even better controls and compliance with any health and safety standards (hinting again at not letting the train travel in hazardous weather).
Oh, thank you, @faronaldolegend 🙂
i think my approach of choosing BBA went really wrong i did not have enough time to complete part d ii & iii of question 1. what was the ii and iii part of this question about?
Hi,
I guess P1 was okay this time despite of time management.
I did question 3 & 4 optional ones…
I guess there was less sections to be answered compare before.
Overall i wish everyone good luck and we should all pass P1.
Anyone doing P2 and P3 in June 2017, let me know please.
Thanks
I thought it was a fair paper but I didn’t get a third question done.. And from reading the comments it looks like I’ve made a right hams of Q2 !
Question 4 b made reference to ALARP and impact/possibility. I opened my answer explaining that once a risk has been identified it needs to be analysed on the likelihood/impact of it materialising. I then went onto explain the impact consequence matrix and then explained that TARA could be used to to provide solutions to which ever quadrant the risk falls into. I then related ALARP (As little as reasonably possible) to the ‘Reduce’ strategy of the TARA model. I also made a point that cost should not out weigh benefit.
@vebem said:
in Q1 d i) what we were supposed to write to shareholder as Chairman about fiduciary duty etc?did anybody understand what we should have written in Q1 d i)?
@arront1986 said:
Question 4 b made reference to ALARP and impact/possibility. I opened my answer explaining that once a risk has been identified it needs to be analysed on the likelihood/impact of it materialising. I then went onto explain the impact consequence matrix and then explained that TARA could be used to to provide solutions to which ever quadrant the risk falls into. I then related ALARP (As little as reasonably possible) to the ‘Reduce’ strategy of the TARA model. I also made a point that cost should not out weigh benefit.I can see where you came from here but didn’t the question first ask you to discuss the risks RMBC were exposed to and then go on to explain ALARP. I related it to the risks I identified and discussed in the first part of the question. ALARP only really applies to risk reduction anyway. Not sure how to would relate it to the transferring or acceptance of risk. It can’t be related to avoidance either as part of it’s explanation is that risks can be reducing as low as possible but not avoided entirely.
Hi, was wondering for question 3 part c, when it asked about quality of information. Was it correct to use ACCURATE accronym or was it an Integrated reporting question?
@harmeetbains said:
For q2 a, I wrote the roles and responsibilities of accountants and auditors as supporting public interest. I also mentioned the influence they have on organisations, society and power and wealth distribution. I also went on about fiduciary duty. Looks like I fudged up judging by the respones in the forum…oh well. I’m just happy I finished the paper.No you could still be right.
I was asking because I was wondering whether it was that or the codes that was required. I could barely make my mind up which to write about. It seems others on here took it as being related to the codes of ethics but we could still be wrong.
@yasin4321 said:
Hi, was wondering for question 3 part c, when it asked about quality of information. Was it correct to use ACCURATE accronym or was it an Integrated reporting question?Yes! Even I did the same.. hope that’s what examiner wanted
Hi everyone,, feeling depressed,
Nw just waiting fr ze rsults!!
as per ze comments, seem sme of my answers were ok,, but lets see now..thnks fr all feedbackHello everyone,
By mystake I wrote question no. 3 but in fact I answered to question no. 4… :(( What do you think? Will the examiner give me any points for the answers provided to q 4?
Regards,
Alexandru.
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