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ACCA P1 Governance Risk and ethics technical articles

ACCA P1 Governance Risk and ethics technical articles

ACCA P1 Governance Risk and ethics technical articles: 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 technical articles

Corporate governance – from the inside out
This article explains that effective corporate governance has both internal and external drivers. Although directors and managers of companies may have little influence over the external regulatory framework, they can and must play their part in ensuring effective internal governance and compliance from deep within their own organisations.

CSR strategy and strategic CSR
Corporate social responsibility (or CSR) has now been added to the P1 Study Guide. But what exactly is CSR? And what is the difference between the concepts of ‘CSR strategy’ and ‘strategic CSR’?

The Integrated Report framework
In 2013, the International Integrated Reporting Council (IIRC) released a framework for integrated reporting. The framework establishes principles and concepts that govern the overall content of an integrated report.

Public sector governance – part 1
Available as a podcast on iTunes
There is a new section of the P1 Study Guide for exams from December 2014 onwards. It is on public sector governance and is included as a new addition under section A9. The purpose of this article is to introduce these topics and give some pointers as to what the important themes are in terms of teaching and learning.

Public sector governance – part 2
Also available as a podcast on iTunes
The second part of this article continues its discussion of the new topics introduced under section A9 of the P1 Study Guide, relevant from the December 2014 exam session.

Diversifying the board – a step towards better governance
In the P1 Study Guide, section A3i requires students to (i) explain the meaning of ‘diversity’ and (ii) critically evaluate issues of diversity on the board of directors. This article elaborates on this topic by introducing the concept of board diversity and how it may benefit the organisation, followed by a discussion on the possible costs of board diversity. It concludes with a comment on the current regulatory initiatives of board diversity.

Environmental accounting and reporting
From 2013, environmental reporting will become part of the P1 syllabus and, therefore, an examinable topic due to its relevance to many discussions around accountability, transparency and sustainability – key themes of the paper. This article outlines what environmental reporting is, where it can occur and its advantages and purposes.

COSO’s enterprise risk management framework
Examining the guidance published by the Committee of Sponsoring Organisations (COSO).

Internal audit
Internal audit – the control of controls – can feature as a key part of the corporate governance framework of an organisation, and can be viewed as a high level control in response to risk or by considering the detailed work required of internal audit.

Independence as a concept in corporate governance
We explore the theory of independence, and discusses why it is vital in many contexts relating to corporate governance and professional behaviour.

‘Non-corporate’ corporate governance
This article considers two broad types of non-corporate organisation: public sector organisations and charitable/voluntary organisations.

Corporate governance – external and internal actors
Not all elements of a company’s corporate governance system are part of the internal structure. External actors can have a role to play in governance too.

Risk and environmental auditing
A focus on Section D1c and Section E7d of the P1 Study Guide.

Strategic and operational risks
Examining the risks in terms of their potential impact and probability of occurrence.

Rules, principles and Sarbanes-Oxley
Introducing some of the main themes in relation to the control of corporate governance and discusses how this control differs by country.

Ethical decision making
This article takes a look at two of the main decision-making frameworks.

All about stakeholders – part 1
An introduction to the idea of stakeholders and stakeholding, and and explanation of the different ways in which stakeholders are categorised.

All about stakeholders – part 2
The second of a two-part article focuses on stakeholders and stakeholding by looking at a number of different stakeholder groups.

ACCA P1 Governance Risk and ethics technical articles

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.

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.

ACCA P1 Governance Risk and ethics technical articles

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