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ACCA P1 Governance Risk and ethics examiner’s report

ACCA P1 Governance Risk and ethics examiner’s report

ACCA P1 Governance Risk and ethics examiner’s report: ACCA stands for the Association of Chartered Certified Accountants a leading international accountancy body. The ACCA qualification is recognised and is treated in other countries as being equivalent to their local qualification.

Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). From June 2016, ACCA recorded that it has 188,000 members and 480,000 students in 178 countries. ACCA’s headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of 100 offices and centres and more than 7,100 Approved Employers worldwide, who provide employee development.

The term ‘Chartered’ in ACCA qualification refers to the Royal Charter granted in 1974.

Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.

The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.

ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.

ACCA P1 Governance Risk and ethics examiner’s report

ACCA P1 Governance Risk and ethics examiner’s report:

The examination consisted of the standard two sections. Section A contained one question for 50 marks and Section B contained three 25 mark questions, from which candidates had to answer two. This is a Professional Level paper and as such candidates must be fully prepared, both in terms of technical knowledge and exam technique. Good exam technique is essential to this paper as it is in all others. As a starting point, the exam rubric of how many questions to answer in each section must be adhered to in order to maximise your chances of success. The exam is challenging enough to pass by attempting the correct amount of questions but becomes extremely difficult if only one question from Section B is attempted. There are very few candidates that will pass if insufficient questions have been answered. Similarly missing out sections of questions, which could add up to a significant number of marks, should also be avoided. Reasons why whole questions or parts of questions are not attempted are probably due to either lack of knowledge or poor time management or possibly both. Although tuition providers and candidates may attempt to predict which syllabus areas will feature in any particular session, it would be extremely hazardous for candidates to come into the exam hall with large syllabus gaps in their knowledge. It was pleasing to see evidence of time planning on scripts, with many of the better candidates writing the time to start and stop for each question on their scripts. However there were many cases of poor time management displayed by the weaker candidates. This weakness can be corrected but does require practice. Candidates must use the permitted time wisely and use the mark allocation as a guide to how many points they need to make. Each question has a maximum number of marks and once this has been met then candidates cannot score any more regardless of how much they write. As a general rule at this level marks are often awarded for identification and then application. So for a 12 mark question if you can identify six relevant points from a case and then apply them (or state why these are relevant) to the case then you should move on. Do not try to find more and do not write reams about just one particular point. Once your time is up on any particular question part you also need to move on. As a general rule more marks will be scored by answering what you can from four questions then from answering at length only three questions. Candidates are reminded of the exam resources available to students via the website which contain many technical articles, study support videos, syllabus updates and exam technique guidance which provide an invaluable sources of information. To illustrate this point the following technical articles were relevant to this particular paper; Corporate Governance – from the inside out, The Integrated Report Framework, Environmental Accounting and Reporting, COSO’s Enterprise Risk Management framework, Internal audit, Independence as a concept in corporate governance and risk and environmental auditing. Future candidates are reminded to make full use of these resources as part of their overall learning strategy.

ACCA P1 Governance Risk and ethics examiner’s report

ACCA stands for the Association of Chartered Certified Accountants a leading international accountancy body. The ACCA qualification is recognised and is treated in other countries as being equivalent to their local qualification.

brief history of ACCA:

ACCA traces its origin to 1904, when eight people formed the London Association of Accountants to allow more open access to the profession than was available through the accounting bodies at the time, notably the Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of Scotland. As of 2006, the goal of ACCA is to become the world’s largest global professional body.

The term ‘Chartered’ in ACCA qualification refers to the Royal Charter granted in 1974.

ACCA P1 Governance Risk and ethics examiner’s report

For more information on ACCA please follow this Visit cakart.in

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