BEST GUESS FOR P1 JUNE 2014

P1 EXAM FOCUSED

1. Control System
Importance of sound internal controls
Purpose and weakness of control system

2. Risk
Role of risk manager and risk committee
ALARP and market risk
Risk embeddedness in system and culture
Operational and strategic risk
Risk audit and report

3. Ethics
AAA model & Grey Owen and Adams social stances
Environmental audit

4. Governance
Agency problem and accountability
Governance of charities v/s company
Role of remuneration committee and reward package
Role of CEO
Two-Tier v/s unitary board
Content of induction program
Independence of Non Executive Director
Governance report