General ACCAACCA Paper P1 Mnemonics Lounge

This is very helpful.

Anyone got anymore of these?

Thanks

Thank you all for sharing these valuable Mnemonics! Although it's more an acronym than a mnemonic, I would add also:

Risk Principle ALARP (As Low As Reasonably Practicable)

Thank you so much for sharing.

good input indeed....guys keep it up

this is great. life made simple

Thankyou very much for all of these mnemonics for hopefully I shall get them into my head & remember them!

General Guide to some risks: FROP LIFE Financial risk Repeutation risk Operational risk Product risk Legal & political risk Information technology risk Entrepreneurial risk or economic risk Fraud risk

Good works!

Thanks!!

What does the letters in the mnemonic COMPARE which is used to identify specific audit risk refer to?

This is so cool :D Thank you.

Loved it,thanks

Super cool stuffs..Very easy to remember guys. Thank you.

Nice....

For me, it is useful to remember the following Mnemonic for AAA Model: “F I N – A B C D” F – facts? I – issues? N – norms? A – alternatives? B – best solution? C – consequences? D – decision? then you can write the whole question in your own words (like “F – facts => what are the FACTs of the case?”

thnk you very much

Thanks. Last minute cram of these for me!

GRAY OWEN AND ADAMS 7 POSITIONS: PEST STD: Pristined capitalist Expedient Social Contractor The Socialist Social Ecologist The Radical Feminist Deep green ;)

Really cool , thanks guys

Roles of the internal audit function (section 'audit and compliance') FAIR Central Europe F: Financial / operating info: examine A: Accounting / IC systems: review I: Investigations: Fraud R: Risks - identification C: Compliance issues E: Economy/ efficiency/ effectiveness Hope this helps.

Roles of the internal audit function (section ‘audit and compliance’) FAIR Central Europe F: Financial / operating info: examine A: Accounting / IC systems: review I: Investigations: Fraud R: Risks – identification C: Compliance issues E: Economy/ efficiency/ effectiveness Hope this helps.

Principles of ERM (Enterprise Risk Management - topic: risk management) "BREACH" Business strategy context Range of risks/ consider/ broad Everyone is responsible Awareness/ risk Culture/ risk-aware Holistic approach

role of ceo ----BRIBE this really funny because we are learning ethics..

@mikelittle said: I thought the idea of a mnemonic was that it was memorable.PAN AQWA OIC<br /> hardly fits the bill!

Ha ha yes we will need another mnemonic to remember that!! PAN AQWA OIC?????? :)))

Agreed. But sometimes it is rather difficult to put together a memorable one. I guess everyone is working for others as well. Some respect is appreciated.

Gray, Owen and Adams - Pristine Capitalist, Expedients, Social Contract, Social Ecologists, Socialists, Radical Feminists, Deep Ecologists. = Politically Correct Ethan Scores Corners So Ethical Strikers Run From Defenders Everyday AAA Model - Facts, Ethical Issues, Norms, Alternatives, Best (action), Consequences, Decision = Fly English Into North America Bringing California Down Tucker's 5 Question Model - Profitable, Legal, Fair, Right, Sustainable = Portugal's Luis Figo Rates Spain Categories of Risk - Credit, Reputation, Strategic, Financial, Business, Market, Operational, Fiscal, Environmental, Entrepreneurial, Legal, Technology, Business Probity, Derivatives = Cristiano Ronaldo signs for Bayern Munich on friday evening ending long term BP deal Yeah I do mine a bit differently with memorable sentences instead of acronyms

Section: controlling risk Purpose of risk auditing FOAM F: Fresh pair of eyes O: Obligatory (SOX) A: Assistance in monitoring (overall risk) M: Make recommendations (amend RMS - Risk Management System)

Section: controlling risks Stages of Risk Audit "Rapid Assistance Comes Rarely" R: Risk Register (Identify risks) A: Assess risks (likelihood/ impact) C: Controls (review existing ones) R: Report on inadequate controls

Tucker's 5 Q model Profitable , legal , fair , right , sustainable People Like French Redwine Seriously