P1常见问题(FAQ) University, additional, following, Business, useful

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1. What additional text books would be useful for tutors to refer to in preparing to teach P1?
In addition to the BPP and Kaplan Foulks Lynch textbooks, the following textbooks might be helpful.
Crane, A. & Matten, D. (2003). ‘Business ethics’ Oxford: OUP.
Solomon, J. (2007), Corporate governance and accountability, (Second edition), Chichester; John
Wiley.
Mallin, C. (2007). Corporate governance, (Second edition.), Oxford: Oxford University Press.

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2. As ethics could be a new area for many students will there be any allowance in any other
papers for those converting to the new qualification?
Ethics will be fairly new to students converting to the new qualification, although ethics in context is already assessed to some extent in the existing Professional scheme, particularly in the audit papers, but also in corporate reporting and others. The new aspect however, is the focus on ethics and
professionalism as a subject on its own. Converting students who find themselves having to take P1 in the new qualification are therefore strongly recommended to take the professional ethics module (free of charge) in order to familiarise themselves with ethical theories and to develop ethical sensitivity through undertaking interactive exercises and engaging with a comprehensive audit based case study. By doing this they will find themselves as well prepared for P1 as any new students who are required to take the professional ethics module for admission to ACCA membership

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3. Will there be any international versions of P1?
Yes there will be an adapted paper for the Singapore market as in that jurisdiction, demonstration of ethical competence and professional values in the context of well developed local professional codes of conduct, rules and governance is required for admission to membership of ACCA’s joint scheme partner institution. The approach of the examination paper is such that as line by line knowledge of codes and rule books is not required the paper is unlikely to specify particular codes in any level of detail. However, answers students give in different jurisdictions, including Singapore, will reflect these students’ knowledge of governance and ethics from their own local or regional perspective.

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4. As the pilot paper contains some parts of a question with more than one verb, or more than
one requirement, how can the marks available for these different requirements within the
same part of a question be understood by students?

Examples of the above are as follows:
Define ‘objectivity’ and describe characteristics that might demonstrate an internal auditor’s
professional objectivity
Explain what an ‘agency cost’ is and discuss the problems that might increase agency costs for Sentosa House in the case of Eastern Products.
The number of individual tasks in each question is signified by the use of the word ‘and’. In both the
above questions a good answer will address two tasks. The question asked was about whether students should be told how many marks are allocated for the first task (before the ‘and’) and for the second task (after the ‘and’).  The marking scheme will contain a maximum allocation for each task. In most cases, the amount of effort required for each task should be evident from the wording of the question. A ‘define’, for example, will usually be a more straightforward task than an ‘explain’ or an ‘assess’. Markers will always be given latitude to ‘cross mark’ between tasks in a question where they find evidence of understanding of one task in the answer to the other task.

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5. Do students need to be clear that there are different frameworks for corporate governance
around the world?
Yes to some extent, but not in any detail. As mentioned in the answer to question to Q3, even though a Singapore P1 adapted paper will be available, students will always be able to cite their own codes to answer certain questions, or students could use codes that they know or become familiar with in order to make the points for which marks are awarded. For example, knowledge of the UK Combined Code as a composite report dealing with the main elements of an effective governance system may be a good starting point although related codes exist in the UK and there are equivalent codes in other countries and regions of the world. The study guide specifically mentions the Sarbanes-Oxley Act, as this rules based legislation has international application, particularly for multinational companies with US based holding companies or subsidiaries. The general point however, is that gaining a broad knowledge, understanding and developing a critical evaluation of the key principles and intentions of any of these codes are more important than learning the precise wording or detailed knowledge of their content and clauses.

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6. Should students cite examples when discussing for or against arguments in answering questions?

Yes, markers will be looking for evidence of understanding of the content of the question. Relevant and appropriate examples can be used to demonstrate understanding and will be rewarded accordingly.

千堆雪

考得不好，郁闷中

0760928

GOOD,THKS

雪小七

thanks for your information

chijuan

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