ACCA P1 Governance Risks and Ethics paper aims to apply relevant knowledge, skills and exercise professional judgement in carrying out the role of the accountant relating to governance, internal control, compliance and the management of risk within an organisation, in the context of an overall ethical framework

ACCA P1 Governance Risks and Ethics paper aims to apply relevant knowledge, skills and exercise professional judgement in carrying out the role ofthe accountant relating to governance, internal control, compliance and the management of risk within an organisation, in the context of an overall ethical framework.

MAIN CAPABILITIES

On successful completion of this paper, candidates should be able to:

  • Define governance and explain its function in the effective management and control of organisations and of the resources for which they are accountable
  • Evaluate the Professional Accountant’s role in internal control, review and compliance
  • Explain the role of the accountant in identifying and assessing risk
  • Explain and evaluate the role of the accountant in controlling and mitigating risk
  • Demonstrate the application of professional values and judgement through an ethical framework that is in the best interests of society and the profession, in compliance with relevant professional codes, laws and regulations.

RATIONALE

The syllabus for Paper P1, Governance, Risk and Ethics, acts as the gateway syllabus into the professional level.

It sets the other Essentials and Options papers into a wider professional, organisational, and societal context.

The syllabus assumes essential technical skills and knowledge acquired at the Fundamentals level where the core technical capabilities will have been acquired, and where ethics, corporate governance, internal audit, control, and risk will have been introduced in a subject-specific context. The GRE syllabus begins by examining the whole area of governance within organisations in the broad context of the agency relationship. This aspect of the syllabus focuses on the respective roles and responsibilities of directors and officers to organisational stakeholders and of accounting and auditing as support and control functions.

The syllabus then explores internal review, control, and feedback to implement and support effective governance, including compliance issues related to decision-making and decision-support functions.

The syllabus also examines the whole area of identifying, assessing, and controlling risk as a key aspect of responsible management.

Finally, the syllabus covers personal and professional ethics, ethical frameworks – and professional values – as applied in the context of the accountant’s duties and as a guide to appropriate professional behaviour and conduct in a variety of situations.

APPROACH TO EXAMINING THE SYLLABUS

The syllabus is assessed by a three-hour 15 minutes paper-based examination.

The examination paper will be structured in two sections.

  • Section A will be based on a case study style question comprising a compulsory 50 mark question, with requirements based on several parts with all parts relating to the same case information. The case study will usually assess a range of subject areas across the syllabus and will require the candidate to demonstrate high level capabilities to evaluate relate and apply the information in the case study to several of the requirements.

Section B comprises three questions of 25 marks each, of which candidates must answer two. These questions will be more likely to assess a range of discrete subject areas from the main syllabus section headings, but may require application, evaluation and the synthesis of information contained within short scenarios in which some requirements may need to be contextualized

Course Curriculum

ACCA P1 A: Governance and responsibility
ACCA P1 A1: The scope of governance
ACCA P1 A1: The scope of governance Details 00:00:00
Quiz ACCA P1 A1: The scope of governance 00:00:00
ACCA P1 A2: Agency relationships and theories
ACCA P1 A2: Agency relationships and theories Details 00:00:00
Quiz ACCA P1 A2: Agency relationships and theories 00:00:00
ACCA P1 A3: The board of directors
ACCA P1 A3: The board of directors Details 00:00:00
Quiz ACCA P1 A3: The board of directors 00:00:00
ACCA P1 A4: Board committees
ACCA P1 A4: Board committees Details 00:00:00
Quiz ACCA P1 A4: Board committees 00:00:00
ACCA P1 A5: Directors’ remuneration
ACCA P1 A5: Directors’ remuneration Details 00:00:00
Quiz ACCA P1 A5: Directors’ remuneration 00:00:00
ACCA P1 A6: Different approaches to corporate governance
ACCA P1 A6: Different approaches to corporate governance Details 00:00:00
Quiz ACCA P1 A6: Different approaches to corporate governance 00:00:00
ACCA P1 A7: Corporate governance and corporate social responsibility
ACCA P1 A7: Corporate governance and corporate social responsibility Details 00:00:00
Quiz ACCA P1 A7: Corporate governance and corporate social responsibility 00:00:00
ACCA P1 A8: Governance: reporting and disclosure
ACCA P1 A8: Governance: reporting and disclosure Details 00:00:00
Quiz ACCA P1 A8: Governance: reporting and disclosure 00:00:00
ACCA P1 A9: Public sector governance
ACCA P1 A9: Public sector governance Details 00:00:00
Quiz ACCA P1 A9: Public sector governance 00:00:00
ACCA P1 B: Internal control and review
ACCA P1 B1: Management control systems in corporate governance
ACCA P1 B1: Management control systems in corporate governance Details 00:00:00
Quiz ACCA P1 B1: Management control systems in corporate governance 00:00:00
ACCA P1 B2: Internal control, audit and compliance in corporate governance
ACCA P1 B2: Internal control, audit and compliance in corporate governance Details 00:00:00
Quiz ACCA P1 B2: Internal control, audit and compliance in corporate governance 00:00:00
ACCA P1 B3: Internal control and reporting
ACCA P1 B3: Internal control and reporting Details 00:00:00
Quiz ACCA P1 B3: Internal control and reporting 00:00:00
ACCA P1 B4: Management information in audit and internal control
ACCA P1 B4: Management information in audit and internal control Details 00:00:00
Quiz ACCA P1 B4: Management information in audit and internal control 00:00:00
ACCA P1 C: Identifying and assessing risk
ACCA P1 C1: Risk and the risk management process
ACCA P1 C1: Risk and the risk management process Details 00:00:00
Quiz ACCA P1 C1: Risk and the risk management process 00:00:00
ACCA P1 C2: Categories of risk
ACCA P1 C2: Categories of risk Details 00:00:00
Quiz ACCA P1 C2: Categories of risk 00:00:00
ACCA P1 C3: Identification, assessment and measurement of risk
ACCA P1 C3: Identification, assessment and measurement of risk Details 00:00:00
Quiz ACCA P1 C3: Identification, assessment and measurement of risk 00:00:00
ACCA P1 D: Controlling risk
ACCA P1 D1: Targeting and monitoring risk
ACCA P1 D1: Targeting and monitoring risk Details 00:00:00
Quiz ACCA P1 D1: Targeting and monitoring risk 00:00:00
ACCA P1 D2: Methods of controlling and reducing risk
ACCA P1 D2: Methods of controlling and reducing risk Details 00:00:00
Quiz ACCA P1 D2: Methods of controlling and reducing risk 00:00:00
ACCA P1 D3: Risk avoidance, retention and modelling
ACCA P1 D3: Risk avoidance, retention and modelling Details 00:00:00
Quiz ACCA P1 D3: Risk avoidance, retention and modelling 00:00:00
ACCA P1 E: Professional values, ethics and social responsibility
ACCA P1 E1: Ethical theories
ACCA P1 E1: Ethical theories Details 00:00:00
Quiz ACCA P1 E1: Ethical theories 00:00:00
ACCA P1 E2: Different approaches to ethics and social responsibility
ACCA P1 E2: Different approaches to ethics and social responsibility Details 00:00:00
Quiz ACCA P1 E2: Different approaches to ethics and social responsibility 00:00:00
ACCA P1 E3: Professions and the public interest
ACCA P1 E3: Professions and the public interest Details 00:00:00
Quiz ACCA P1 E3: Professions and the public interest 00:00:00
ACCA P1 E4: Professional practice and codes of ethics
ACCA P1 E4: Professional practice and codes of ethics Details 00:00:00
Quiz ACCA P1 E4: Professional practice and codes of ethics 00:00:00
ACCA P1 E5: Conflicts of interest and the consequences of unethical behaviour
ACCA P1 E5: Conflicts of interest and the consequences of unethical behaviour Details 00:00:00
Quiz ACCA P1 E5: Conflicts of interest and the consequences of unethical behaviour 00:00:00
ACCA P1 E6: Ethical characteristics of professionalism
ACCA P1 E6: Ethical characteristics of professionalism Details 00:00:00
Quiz ACCA P1 E6: Ethical characteristics of professionalism 00:00:00
ACCA P1 E7: Social and environmental issues in the conduct of business and of ethical behaviour
ACCA P1 E7: Social and environmental issues in the conduct of business and of ethical behaviour Details 00:00:00
Quiz ACCA P1 E7: Social and environmental issues in the conduct of business and of ethical behaviour 00:00:00

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