P1 Exam tips – June 2012 sitting

updates:

ATC

• Corporate governance concepts, underlying fundamentals and arrangements.
• CG in other organisations,
eg public services, NGO.
• Types and forms of CG, eg rules based, principles based, insider, outsider systems, UK CG code, SoX.
• Agency theory, stakeholders, Mendelow.
• Board structures, CEO/chairman, directors, NEDs, committees.
• Internal control and business risk, Turnbull.
• Ethical theories and business codes – Kohlberg, Gray, Owen and Adams, Tucker, AAA.
• Professions and the public interest.
• Corporate social responsibility, corporate citizen, footprints and sustainability.
• Social and environmental auditing.

BPP

• Governance – agency and stakeholders.
• Internal control reporting.
• Ethical theories are regulars and don’t forget professional codes. General business ethics and fraud/whistleblowing.
• Clash of CG cultures – think Olympus.
• Remuneration.

First Intuition

• 50-mark scenario question, to include: TARA risk model, ethics, absolutist v relativism, chairman and CEO powers need to be separate, also corporate social responsibility, ISO 14001.
• Importance of internal control, NEDs and remuneration committee, business risks, Gray Owens and Adams.
• Bribery Act.