Jay's Governance, Risk and Ethics P1 ACCA

10/24/13

Jay' s Gover nance, Ri sk and Ethi cs P1 ACC A

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6 days ago Latest materials for P1 ACCA Dec 2013 Students that are preparing preparing for fo r the current curre nt P1 paper, it would do some some good to understand understand that CG codes are are not fixed. They evolve with time to show the changes in the dema demand nd from fro m stakeholders. This will impact students that are doing Topic 17 of OBU and also those that are planning to sit for Dec 2013 exam since sin ce the updates are now examinable!

Latest updates for P1 ACCA Latest AC CA includes the followi fo llowing: ng: UKCGC 201 2012 2 http://www.ey.com/Publication/vwLUAssets/Corporate_Governance_update_ _October_2012/$ _October _2012/$FILE/E FILE/EY_Corporat Y_Corporate_Govern e_Governance_upda ance_update_-_ te_-_October_2 October_2012.pdf 012.pdf [http://www.ey.com/Publication/vwLUAssets/Corporate_Governance_update_ _October_20 _October _2012/$FI 12/$FILE/EY_Corp LE/EY_Corpora orate_Gov te_Govern ernance_u ance_upda pdate_-_ te_-_October_ October_201 2012.pdf 2.pdf]]

There is also an update in COSO 2013 which came out in May 2013 http://www.coso.org/documents/COSOOut http://w ww.coso.org/documents/COSOOutreachDeckMay201 reachDeckMay2013.pptx 3.pptx

There are new terminologies being developed in risk ri sk world Risk velocity - the speed at which risk will impact Risk Ris k agility -speed of o f risk response/velocity Risk resilience - resource employed/risk impact Risk management effectiveness = Agility x Resilience There are many new development in risk world the Send and fee dbac dback k examiner for P1 has already indicated that risk will be getting j-p1.blogspot j-p1.blogspot.com .com

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important im portant in the future. future . This means that you have to study the latest materials to get good answ answers. ers. Those doing ACCA ACC A OBU, please update your Topic 17 for using the latest materials. materials. Posted 6 days ago by ago by Lecture Lecturer: r: Jay MSc UK, UK, Pg.Dip Marketing (UK (UK)) FCCA F CCA

1 week ago

ACCA ACC A P1 Focus Focus area Dec 2013

ACCA ACC A P1 this semester semester - DEc DE c 2013

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Focus on Internal auditor auditor and their the ir work - risk auditing auditing or environmental auditing auditi ng + threats to their independence independenc e Internal controls and and reasons for failure - could co uld it be prevents FUKU incident Lehman failure - Risk management, risk profile and issues with risk categorisation categorisation and reporting Integrity Governance - focus f ocus on Steve Stev e Jobbs and succession planning planning - it j-p1.blogspot j-p1.blogspot.com .com

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important im portant in the future. future . This means that you have to study the latest materials to get good answ answers. ers. Those doing ACCA ACC A OBU, please update your Topic 17 for using the latest materials. materials. Posted 6 days ago by ago by Lecture Lecturer: r: Jay MSc UK, UK, Pg.Dip Marketing (UK (UK)) FCCA F CCA

1 week ago

ACCA ACC A P1 Focus Focus area Dec 2013

ACCA ACC A P1 this semester semester - DEc DE c 2013

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Focus on Internal auditor auditor and their the ir work - risk auditing auditing or environmental auditing auditi ng + threats to their independence independenc e Internal controls and and reasons for failure - could co uld it be prevents FUKU incident Lehman failure - Risk management, risk profile and issues with risk categorisation categorisation and reporting Integrity Governance - focus f ocus on Steve Stev e Jobbs and succession planning planning - it j-p1.blogspot j-p1.blogspot.com .com

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is becoming a big issue for many Was the the action of o f the big banks in getting involved in price fixing ethical? - Use U se ethical framework framework 3A or 7 positions Role of regulat re gulators? ors? Public interest and accounting as a professi profe ssion on Agency theory / Transaction Transaction cost theory Those planning to study next semester semester - you have h ave 2 options, face to face with me (subject expert) / other o ther experts at J Pro ACCA ACC A Boutique training centre or if you like to self study using a low cost option - take J Pro ACCA ACC A Online solutions

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J Pro Boutique ACCA Training Centre Next semester semester - those that are are planning to do ACCA ACCA,, we will be starting in Feb, after the results are out. J Pro training would be offering the followi fo llowing: ng: F1 - F3 @ RM800 F4 - F6 @ RM1,000 F7 - F9 @ RM1,100 P1 - P3 @ RM 1,150 P4, P5, P6, P7 @ RM1,20 RM1,200 0 OBU @ RM2,700 (Inclusive of text book, boo k, revision kit, notes, good goo d training training and snacks)) - Value add. snacks j-p1.blogspot j-p1.blogspot.com .com

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Jay's Governance, Risk and Ethics P1 ACCA

No registration, resource or other fees. Just basic training fee. Non-value add. That is the whole range of papers, which will be done by Experienced experts in their respective subjects - Significant value add. Class will be limited to 22 students since you want to have that exclusive training experience and also the correct atmosphere to learn. Significant value add. Registration will be starting after the exams week.

J Pro Online ACCA Solutions - first in Malaysia! If you hate classes - you can also get the J Pro Online Solution RM230 for lectures / RM410 for lectures & revision. No class and study at your own time. This is valid for 2 sittings that means if you fail, there is no extra cost! BPP Text and revision would be added in for RM180. Students that get world prize or Malaysian prize - you will get a refund on your fee for that subject - this applies in both locations. If you want to wait for your results before starting - then J Pro would be the ideal solution. Posted 1 week ago by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

19th September Examiner mood for 2013 Dec ACCA P1 [http://3.bp.blogspot.com/pb8qXDa190A/Ujpacjik o9I/AAAAAAAAE_4/1CR2cB11yFE/s 1600/salary.jpg]

Given the issues developing around the world now, especially j-p1.blogspot.com

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about corruption and bribery, I would believe this two issues getting more attention in the coming exam diet in Dec 2013. Bribery as you know it is a disease that eats into the fabrics of society slowly. It diminishes the ethical behaviour of most professional by attacking their integrity and objectivity. In terms of P1, the situation that your examiner may be asking this time - it might involve the following: 1. NED in a company that has to weigh the benefits of giving a bribe to get a pipeline for a petroleum company, where everyone is already involved in that activity 2. Assessment of giving a bribe using 3A model for an accountant 3. Evaluation of the bribery from ethical views of dogmatic and pragmatic 4. Critical evaluation of ethical principles for a professional accountant that has noted bribery within the company operation (which goes against the code of conduct of the company) 5. Internal controls required to ensure that bribery does not occur within the company 6. Embedding a culture of risk awareness /risk systems to protect against bribery 7. Consideration of the ethical case and business case for giving bribes In all your answers above, as a professional accountant - you will still have one heavy tone = go for ethical behaviour that up holds the ACCA principles. This is one of the ideas that could be coming out this time enjoy preparing for it. Students that are planning to study for ACCA P1 on your own this time - you can purchase J Pro online learning solution which has all the lectures for ACCA P1 for only RM220, this will also get you access to the Jpro forum for acca trainees that will give you the spotted questions for Dec 2013. j-p1.blogspot.com

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If you are interested in getting a better chance of passing P1 this time - call 016-263-0649 or email [email protected] for more information

Posted 19th September by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

23rd August

Studying for P1 ACCA Dec 2013

If you are planning to study for P1 ACCA for DEC 2013 exam, you must be warned on the following point! 1. The examiner has been moving more and more toward examining risk and internal controls within the paper 2. The previous exam papers are good practice but do not end up memorizing all the answers - sure recipe for disaster. 3. Critical thinking is not easy, you have to train that brain of yours to think it daily. How? - the newspaper is a good way to consider what you have learnt and how it applies to the situations in the paper. 4. My notes for P1 chapter 1 - 10 is available in the earlier posting - most of them is still relevant (except the change in CC to UKCGC 5. Students still using the CC as their source of their reading please update yourself, UK is now using UKCGC 2012 which is the latest. COSO also has been updated from the original in 1985 to the latest version in 2013. 6. Bribery and corruption is the latest fashionable item in the exams - so pay attention to them.

The last examination had tested audit committee extensively, indicating that current paper may shift to internal audit The other point for previous paper - there was nothing so far on diversity and nomination committee - that is about time. j-p1.blogspot.com

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OECD and ICGN has not been asked for sometime, maybe it is due? Read all the areas up for the coming exam

Posted 23rd August by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

13th August

June 2013 Paper for P1

Those that took the paper and passed it congratulations! The paper that appeared last semester was heavy on risk, controls and governance. Q4 was a real trap question that got many students to loose marks due to writing out all they know about remuneration design rather than answer the question set. Q1 was quite miserable given that it had significant amount of risk ideas, which itself is hard to grasp. Many misunderstood the risk assessment and started to write about risk management process. Many also did not consider expanding their argument about the risk assessment approach being taken. Finally there is the audit committee question - which required assessment of the committee performance. There were some easy marks there but most of the students failed to remember the work that audit committee must do for internal auditor. My assessment of the paper It is much harder than the previous sitting since there was less marks allocated for memory work j-p1.blogspot.com

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The answer requirements was also much harder given that it required extending the discussion into new areas. So if you failed - try again. Those that want to study this paper at their own pace can consider buying online course for P1 for RM225 only with JPro. This will include Online lectures + exam focus points from Mr.Jay + Online forum discussions for J Pro students @ jpro.yuku.com Posted 13th August by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

9th June Tips for June 2013 P1 ACCA Examination

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Well it is about the time that you feel very stressed on what can come out for the ACCA June 2013 exams. The P1 ACCA examiner has clearly stated that he does not like spotting of the question, but there is some patterns that is obvious - "he likes to ask what was given out as articles in the past" Which means that you have to study the articles up. j-p1.blogspot.com

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The following is the articles that you should consider first

Environmental reporting [http://www.accaglobal.com/en/student/accaqual-student-journey/qual-resource/acca-qualification/p1/examsp13/environmental-accounting-and-reporting.html]

COSO Framework [http://www.accaglobal.com/en/student/acca-qualstudent-journey/qual-resource/acca-qualification/p1/exams-p13/cosoenterprise-risk-management-framework-part-1.html]

Internal audit [http://www.accaglobal.com/en/student/acca-qual-student journey/qual-resource/acca-qualification/p1/exams-p13/internal-audit.html]

The articles were not all written by the examiner, but it does have some good pointers to consider. Obviously this does not mean that the above is the only articles to cover, you should also cover all the other articles. Make sure you have gone through all the past year papers especially the older ones 2009/08, those have a high chance of coming out.

Make sure you have the following ROLES understood 1. 2. 3. 4. 5. 6. 7.

Internal auditor External auditor Non-executive director Stock market Regulator Risk manager Nomination committee

On that note, make sure that you have the following governance concepts understood Succession planning 2. Service contracts (there was an issue with one of the Shell directors that was removed in the previous boardroom tussle 1.

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for CEO - her pension was HUGE!) 3. Fiduciary duties of the directors (and what happens when they did not fulfill it - penalties) 4. ICGN and OECD (Convergence of codes) 5. SOX 2002 Advantages and disadvantages for SME. Theories of governance has always been examined to some extent and the following theories has never been given any consideration so far - therefore it it would be wise to go in with some idea's 1. 2. 3. 4. 5.

Transaction cost theory Agency theory (factors creating higher cost) Property ownership Carroll 4 responsibilities may be worthwhile Kohlberg - reverse as seen in JH Graphic question

In terms of internal controls, the examiner just loves "disaster movies" - with take on Ships, cars, banks and energy companies that had made huge mistakes. This time around, the examiner could be asking Lehman Brother's failure ~ how they took so much risk and imploded or how TEPCO the Japanese company failed to take into account risk for their failed nuclear power plant. The above requires a CSI type approach in answering the question - which control failure led to what negative outcome. How it could have been prevented. Was this an operational control failure or control design failure. Risk has been getting more and more attention recently and would be expected to appear for quite some marks. I am not sure if the examiner would have to take on Business risk that appears in P7 ACCA within the syllabus, but it would be feasible to do this. Especially since not everyone out there would be doing P7 ACCA. Suggestion would be to review P7 ACCA Dec 2010 Q1a exam question and then just go through the answer. j-p1.blogspot.com

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Ethics is usually examined, this time I suppose the examiner may be asking something about Fundamental principles of ethics (something to do with internal auditor independence and why they must be independent) Impact if they are not independent? Public interest may be relevant, since that has not been asked for some time

Profession of accountants and disclosure issues that are so frequently asked in P2 ACCA papers may also be present this time. Will there be some calculations this time? Expected values maybe, or some simple probability analysis. Environmental auditing and risk auditing has been out for some time, so do expect something there. Now that is done, hope that helps. Not sure if all of this will be coming out.

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On that note OBU Preview for J Pro is on 15 June 2013 @ J Pro Business Training office [http://jprotraining.blogspot.com/2010/08/location-of-j-pro-businesstraining.html] . Call 0162630649 [tel:0162630649] Mr. Kumar for booking, since those that attend the preview will usually be given a better deal than those that don't. The cost of doing OBU in J Pro is RM2,700 (which includes P2 ACCA online lectures and revision package free (worth RM500)). Also those who have studied with me before will get a discount of RM100 per paper studied.

[http://1.bp.blogspot.com/-2zvwCHiNcSk/UbNglV1IC3I/AAAAAAAAE6k/Hx4CuRxSP4s/s1600/220pxBlended-learning-methodolog.jpg]

Next semester, for July 2013 J Pro Business Training will be introducing the first Malaysian blended ACCA training for working students & full time student who are already sick and tired of attending loads of j-p1.blogspot.com

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classes. This will cov er F5, F7, F8, F9, P1, P2, P3, P4 and P7. The main benefit - you get to study online and go for question workshops that prov ide the brick and mortar function. Information on this will be available on J Pro blog [http://jprotraining.blogspot.com/]

Posted 9th June by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

4th December 2012 Manage your time in ACCA exams

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Time management in acca exams When you are doing your exams – it is critical that you 1. Consider which is a hard question – a time trap and which are easier to handle j-p1.blogspot.com

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2. Plan your approach 3. Have some time to check your answers 4. Watch the clock I have just got some feedback about P7 paper and most are saying the same thing – that they were running out of time to do the question. Q1 was doable and Q3 – 5 was doable but Q2 was the hard one – so why do students get stuck with the hard one first – simple they followed a linear answering sequence – 1,2,3,4…… JUMP AROUND! To find the easiest marks first before getting into those that you are struggling! If you are struggling to get ideas – it is a sign to leave it and get back to it later. Those of you that are planning to do your ACCA OBU next semester for the May 2013 submission can check out details in my OBU Blog [http://j-obu.blogspot.com/] . Those that are doing P2, I have provided my indication on what is possible this time in my P2 Blog [http://accap2.blogspot.com/] Posted 4th December 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

30th November 2012

Spots from other providers

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LSBF P1 ACCA Role of the chairman. Nomination committee. Stakeholder classifications. Audit committee and internal audit. TARA. Tucker's mode Kaplan P1 ACCA • Corporate governance: stock exchanges. • Ethical theories – Absolutism. • Internal control failures. • Transaction cost theory. • Sustainability – Social and environmental footprints. Becker P1 ACCA Corporate governance concepts – the underlying fundamentals. CG in other organisations – NGOs, public sector. CG types and forms – rules v principles, insider/outsider, UK codes, SoX. Agency theory - stakeholders, Mendelow. Board structure. Internal control and business risk – Tunrbull Ethical theories and business codes. Professionals and public interest. Corporate citizen, footprints and sustainability. Social and environmental auditing. Sourced from PQ magazine (2012)

Posted 30th November 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

21st November 2012

Tips for ACCA Dec 2012 Paper P1

It is about time to start focusing on issues that are critical for the coming exam. j-p1.blogspot.com

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Areas that should have high level of focus includes: 1. Succession planning 2. Role of nomination committee 3. Tucker 4. Professionalism / Public interest 5. Professional codes - familiarity threat and rotation of firms 6. Internal audit 7. Business risk 8. Transaction cost theory / Agency theory 9. Service contract for directors / Power of directors 10. OECD / ICGN - Harmonisation 11. Control environment and systems 12. Information system - characteristics of strategic and operational information 13. Risk categories and risk reporting 14. Independence of internal auditor 15. ISO 14001 16. Ethical tension - case from within online-ethical module 17. Numbers = Risk re-mapping or evaluation of cost and benefit of risk solutions. 18. Numbers = Trend analysis to detect business risk factors 19. Carroll 20. Footprint That is all for the specific area that could come out, use with caution

Posted 21st November 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

15th November 2012

Rules and professionalism

The following news was taken from Los Angeles Times - it illustrates what happens when Doctors - who are professionals do not use their professional judgement but rather follow a rule without any regards to consequences. This also illustrates the impact of dogmatic compliance to rules without any allowance for pragmatic solutions. As a professional should docto r act at Level 3.1 or Level 2.2 of Kohlberg moral development?

The death of an ailing woman who was refused an abortion [http://www.latimes.com/topic/health/abortion-HEPAS000029.topic] in an Irish hospital has inflamed longstanding concern about Ireland's [http://www.latimes.com/topic/intl/republic-of-ireland/galway-%28ireland%29PLGEO0000081621.topic] tight restrictions on when women can terminate a pregnancy. Praveen Halappanavar told the Irish Times j-p1.blogspot.com

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that his wife, Savita, was suffering intense pain and had been told her baby would not survive. Upset but resigned to losing her child, she was denied an abortion despite repeated pleas with their Galway [http://www.latimes.com/topic/intl/republic-ofireland/galway-%28ireland%29-PLGEO0000081621.topic] hospital as she suffered shakes and vomiting, Halappanavar to ld the newspaper. [http://www.irishtimes.com/newspaper/frontpage/2012/1114/1224326575203.html]

“The consultant said it was the law, that this is a Catholic country. Savita said, ‘I am neither Irish nor Catholic,’ but they said there was nothing they could do,” Halappanavar told the newspaper from India. As long as the fetus still had a heartbeat, the husband said they were told, an abortion was illegal. Days later, the heartbeat stopped and the remains were removed, but Halappanavar grew sicker, eventually dying of blood poisoning, her husband told the Irish Times. The Galway Roscommon University Hospitals Group said it could not discuss the details of her case with reporters, but was reviewing the unexpected death in line with its usual procedures to establish what had happened. It extended its sympathy to her husband, family and friends. T he Health Service Executive, a national body that oversees Irish healthcare, is also carrying out a review and will recommend any changes needed to prevent similar incidents, it said. While abortion is banned under the Irish constitution, its highest court ruled decades ago it is allowed when the life of the woman is in peril. But with no detailed regulations or guidelines for doctors, the question of when a fetus can be aborted remains murky. Even doctors who think abortion is needed may fear arrest or losing their careers, abortion activists say. Critics argue the legal limbo makes doctors so uneasy that they refuse to perform the procedure even when mothers are at risk or a baby is already expected to die. James Burke said he and his wife learned that their child wouldn’t survive outside the womb because of a rare syndrome, but were told they had leave the country to get a medical termination. They went to England. “It’s just so saddening that it has to come to a woman and her child dying for people to start talking about it,” said Burke, who went public with his own story last year. He is now part of an activist campaign called Termination for Medical Reasons Ireland [http://www.latimes.com/topic/intl/republic-of-irelandPLGEO000008.topic] . Nearly two years ago, the European Court of Human Rights ruled that Ireland had violatedEuropean Union [http://www.latimes.com/topic/economy-businessfinance/economy/european-union-ORGOV000067.topic] law by failing to adequately protect the lives of women. The Irish government called upon a group of experts for advice o n how to clear up its abortion rules; that expert group gave its report to the Irish health department T uesday night for review, just before the Irish T imes published its story . While Sinn Fein and other political parties pressed the government to pass “long overdue legislation” ensuring that abortions to save women would be allowed, Prime Minister Enda Kenny [http://www.latimes.com/topic/politic s/government/enda j-p1.blogspot.com

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kenny-PEPLT00008092.topic] argued that the government should not take action

before the death is fully investigated. His Fine Gael political party said any c hanges should also await the expert report on abortion law. “The matter will come before government in due course,” it said Wednesday. Sen. Kathryn Reilly of Sinn Fein argued that the tragedy exposed the damage done by inaction. “We’re no longer dealing with what-ifs. We’re no longer dealing with a hypothetical situation,” she said, pressing the government to say when the report would be made public and laws would be passed. “It just can’t go on anymore,” Reilly said. Protests and vigils were planned Wednesday night across the country as the news spread in Irish and international media. The Irish law is unusually restrictive for a country in Europe [http://www.latimes.com/topic/intl/europe-PLGEOREG0000014.topic] , but the resulting barriers to abortion access are much like those in poorer countries that get less media attention, said Patty Sk uster, senior policy advisor fo r Ipas, which advocates for safe abortion. "There are countless women like her that we don't see," Skuster said. The bereft husband says he told his story to ensurethat it won’t happen to anyone else. “It was all in their hands and they just let her go,” Halappanavar told the Irish Times [http://www.irishtimes.com/newspaper/frontpage/2012/1114/1224326575203.html] . “How can you let a y oung woman go to sav e a baby who will die anyway?” Sourced from : Los Angeles T imes (2012) http://www.latimes.com/news/world/worldnow/la-fg-wn-death-motherrefused-abortion-ireland-debate-20121114,0,7244973.story, accessed on 17 November 2012


8th November 2012

ACCA P1 Tips DEC 2012 #1

The tips from Open tuition is out. The focus areas by open tuition for the current Dec 2012 ACCA P1 paper is as follows: Governance Directors Audit and Nomination committee j-p1.blogspot.com

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Statutory duties Information - early indicators that company is at risk II involvement Need for governance Risk Identification, assessment, measurement, management Internal audit / external auditor role in CG Business risk Awareness of company strategy Ethics Kohlberg Deontology and teleology Environmental footprint and accounting CSR In my view, the above focus areas are reasonable and can be taken seriously. I would also pay attention to China tainted milk story at the same time. The examiner has been testing the latest happenings in the business world and it is possible that Fukushima Nuclear incident could get tested this time around. Open tuition has advice the usage of calculator in the exam - which I concur with them. This time there will be a need for calculators to be used - probably in the computation of gearing or current ratio.

It could also come

out for expected values. I will be giving the areas that I will think is likely a bit later.

There is still time.

Next semester papers that I will be covering j-p1.blogspot.com

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is: P2, P3 and P7 in Sunway JB. P3, P5 and P7 at J Pro (Shah Alam)


20th October 2012

ACCA P1 Dec 2012 Exam tips (initial)

The exam is getting very close and now should be the time for you to start your engines and pushing the peanut in a different direction. The first tip for now is that you should spend some time to understand overall view of paper P1, in this case you must cover all the basics for each part - CG, Risk, Ethics and Controls Once you have completed the run down of all the areas, it would be wise to start to consider some possible areas to focus more attention. The first part to concentrate on is the following articles first, the order would indicate the risk that I have attached for each article in terms of coming out for the Dec 2012 ACCA exams for P1.

1. Independence [http://www.accaglobal.com/content/dam/acca/global/pdf/sa_sept11_independence.pdf]

2. Non-corporate governance [http://www.accaglobal.com/content/dam/acca/global/pdf/sa_oct10_p1.pdf] 3. Stakeholders 1 [http://www.accaglobal.com/content/dam/acca/global/PDFstudents/2012s/sa-jan08-campbell.pdf] 4. Stakeholder 2 [http://www.accaglobal.com/content/dam/acca/global/PDFstudents/2012s/sa_feb08_campbell.pdf] 5. Ethical decisions [http://www.accaglobal.com/content/dam/acca/global/PDFstudents/2012s/sa_mar08_campbell.pdf]

6. Internal & external actors [http://www.accaglobal.com/content/dam/acca/global/pdf/sa_aug09_campbell.pdf]

7. Changes in P1 (1) [http://www.accaglobal.com/content/dam/acca/global/pdf/sa_May2010_p1_studyguide.pdf]

8. Changes in P1 (2) [http://www.accaglobal.com/content/dam/acca/global/pdf/sa_May2010_guide_P1.pdf]

9. Question of ethics [http://www.accaglobal.com/content/dam/acca/global/pdf/sa_july11_ethics.pdf] 10. Internal auditor [http://www.accaglobal.com/content/dam/acca/global/PDFstudents/2012s/sa_apr12_p1_audit.pdf]

11. Environmental and risk auditing j-p1.blogspot.com

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[http://www.accaglobal.com/content/dam/acca/global/pdf/sa_march09_campbell.pdf] 12. Rules and principles [http://www.accaglobal.com/content/dam/acca/global/PDFstudents/2012s/sa_apr08_campbell.pdf]

13. Strategic and operational risk [http://www.accaglobal.com/content/dam/acca/global/PDFstudents/2012s/sa_sep08_weller.pdf]

14. Environmental accounting and reportin [http://www.accaglobal.com/content/dam/acca/global/PDFstudents/2012s/sa_sept12_p1_environmental.pdf] g

There are 14 articles with an average of 4 pages each, indicating that you should be able to read and understand at minimum 2 articles for each day from today until exam day on rotation basis. Internal audit outsourcing has not been asked and I think this video would be quite useful in leaning about outsourcing internal audit.

The other issues that I would be very concerned about is the introduction of Bribery Act 2010 in UK, which has a direct impact on this paper, examiner has included this by referring to corruption and The best way to understand review the following video which I have reviewed as relevant source of learning outside the classroom for students to get to grips with the issue. This can be tested within the corporate code of conduct and the legal compliance issues.

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That video was useful to introduce the area, so that you are aware of the issue and what it means in terms of paper P1.

This video has sufficient explanation of the Bribery Act, which is theoretical. Guidance is in place to explain the INTERNAL CONTROL PROCEDURES to defend against a bribery claim by the government

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The above could be a statement that can be included into a P1 exam paper in the future and students should be able to argue this using the pragmatic or dogmatic theories. It is also possible to consider this statement in the context of article No.9 above.

The above is also could be included in the examination under the same article 9 above. So as the balance of the videos that are listed below:

Now that I have covered a bit of ethical issues, the next issue to turn to is the internal control required to prevent breach of the br ibery risk

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That is the areas that I can focus for you now. The other learning ideas will be communicated later.

Posted 20th October 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

8th August 2012 Results are out for ACCA P1 June 2012 It is finally out and if you pass - excellent! If you have failed and have to try a new approach, find another lecturer. If you have tried my way of doing the paper and still cannot pass, consider the following: j-p1.blogspot.com

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Whether you could follow the technique that I had adopted for the paper? Whether you did your book work before the exam? Whether you need an alternative view for learning the paper? Now that you have the answers for all of this. Consider what is your next course of action. IF YOU STUDIED UNDER SOMEONE ELSE IN SUBANG/SUNWAY AREA From August 8th to August 10 Inti College Subang will be giving a RM600 waiver for NEW students that want to register for the ACCA classes there. The fee for ACCA catch-up is RM800 which includes the BPP Text and kit, worth about RM200. The waiver would cover the application fee of RM400 and resource fee of RM150/paper. Therefore your actual cost for the paper is only RM550 for the revision + classes in aug, sept, oct and nov 2012. The offer for Inti is for all the papers in ACCA F4 to P7, so this would be a good chance to get yourself into an truely American based college. If you are worried about your future job prospect - it actually gets brighter since Inti College Subang has a 94% employability rate after graduation for their graduate, since they have a dedicated department that focuses on getting you employed with the Big 10 firms. Those that did not get through the papers, do consider whether it is worth while to sit in a class that is crowded class with low lecturer / student interaction.. Focus on quality learning experiences that would improve your pass rates.

Remember, the offer at Inti is only from Aug 8 to Aug 10 RM600 waiver. After that date is RM300 waiver from fee s.

Posted 8th August 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

10th July 2012

P1 Paper June 2012

The paper was a doable paper with a good balance of risk and governance, with the ethics question being placed in a 25 marks section. Overall some new areas were examined, number in the context of making an assessment of risk / return relations. Some of the elements of the paper was a repeat - induction and risk committee roles (which should have been expected given that almost all areas have been j-p1.blogspot.com

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tested) The ethics part of the paper was much harder and I suppose that most of the students avoided that question. The bonus was the 3A model and Mendelow, which finally made its appearance (but was tested harder) Unitary and family business structure was also tested, a repeat area. Overall the paper was a good paper, students who fail would be due to not understanding the requirement rather than knowledge of the paper (for those that prepared for the paper). Good luck on the exam results - 8th August 2012 Posted 10th July 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

4th June 2012

P1 ACCA June 2012 Spots / Tips

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The time for studying hard for the coming exam is at hand. This paper, being the most stable of the P level papers has not changed much since the last sitting. In the current sitting do expect some form of computation related to risk [http://4.bp.blogspot.com/-tlpz7choz0/T8y2XbTIS2I/AAAAAAAAEqA/mAfXWSSirL4/s1600/Risk+numbers+by+Jay.JPG]

The examiner may include a table like the one above and might want you to calculate the expected values for the risk and assess the method for dealing with the risk. j-p1.blogspot.com

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He may also ask you to evaluate the method being adopted by the company to manage the risk, is it appropriate? So make sure the calculators in taken for the exam The spots by others for the current sitting are as follows: OPEN TUITION JUNE 2012 TIPS FOR P1 ACCA 1. 2. 3. 4.

ACTORS FOR CORPORATE GOVERNANCE - IA, EA & NED ETHICS, DILEMMA, DEONTOLOGY / TELEOLOGY / KOHLBERG ROLE OF RISK MANAGER, RISK COMMITTEE, MENDELOW BOARD SUB-COMMITTEE, TWO-TIER & UNITARY

ATC JUNE 2012 TIPS FOR P1 ACCA 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

GOVERNANCE CONCEPTS GOVERNANCE IN OTHER ENTITIES - NGO / PUBLIC SERVICE FORMS OF GOVERNANCE - INSIDER / OUTSIDER AGENCY, STAKEHOLDERS, MENDELOW BOARD STRUCTURES, CEO/CHAIRMAN, DIRECTORS, NED, COMMITTEE INTERNAL CONTROLS AND BUSINESS RISK GRAY, OWEN AND ADAMS, TUCKER, AAA, KOHLBERG PROFESSION AND PUBLIC INTEREST CSR, CORPORATE CITIZEN, FOOTPRINT SOCIAL & ENVIRONMENTAL AUDIT

BPP 1. 2. 3. 4. 5.

GOVERNANCE - AGENCY & STAKEHOLDERS INTERNAL CONTROL REPORTING ETHICAL THEORIES AND REGULATORS CLASH OF CG CULTURE - OLYMPUS REMUNERATION

FIRST INTUITION 1. 2. 3. 4. 5. 6. 7. 8. 9.

TARA ETHICS CHAIRMAN & CEO POWER CSR ISO 14001 INTERNAL CONTROL IMPORTANCE NED & REMUNERATION COMMITTEE BUSINESS RISK BRIBERY ACT

Now it is my turn to provide my overview of what could be coming out this time 1. Ethical area - professional code of ethics (materials from Online ethical module) 2. Corruption and internal controls to reduce corruption 3. Nomination committee and role of succession 4. Transaction cost theory 5. Risk management - assessment of risk solutions and also risk appetite j-p1.blogspot.com

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6. 7. 8. 9. 10. 11. 12. 13.

consideration (risk seeking, risk neutral, risk averse - read P5 DEC 2011 Q1 paper) Independence of NED and whether they should be recruited from inside outside of the industry (Article) Internal auditor - limitations and outsourcing Information system - characteristics of strategic information AAA or Tucker Deontological or teleological ethical issues Governance basic theories and requirements CSR - Carroll Internal control systems & control environment evaluation

Well that is all the areas that I think could be coming out, but make sure you study everything before you place emphasis. Next semester I will be in INTI SUBANG and SUNWAY JB as a lecturer for paper P1 ACCA. So if this did help, inform the rest where to find me next time around. Good luck

Posted 4th June 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

22nd May 2012

Timetable for Inti

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The above is the tentative timetable for i-ACCA at Inti Subang, students that are planning for the course. 1. It is inclusive of platinum status books BPP Text and revision materials 2. Inti is Gold status provider under Approved ACCA Tuition providers 3. Yes there is progression discount for Inti students from degree transferring into the professional stage of ACCA 4. You are assured that you will be taught by lecturers who have been teaching ACCA for past 15 years for the Professional level 5. The fees for next semester is RM 1,240 for F level and RM 1,350 for P level.

Posted 22nd May 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

17th May 2012

Offer at Inti July 2012

This is the offer at Inti Subang starting from July 2012 and here to stay. There is a new team in town and the team is geared to navigate your studies successfully to complete ACCA. Professional level lecturing team in Inti P1 Mr. Jay P2 Mr. Jay (Theory Q1 15 marks + Q3 + Q4) + Mr. Dee (Q1 Consolidation, Q2 Mix) P3 Mr. Jay P4 Mr. Oviyan P5 Mr. Adam P7 Mr. Jay j-p1.blogspot.com

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Skill level lecturing team in Inti F4 Mr. Anand F5 Mr. Adam F6 Mr. Dee F7 Mr. Dee F8 Mr. Jay F9 Mr. Oviyan

Note that there is a benefit in doing in Inti - 88 hours of class All the lecturer have more than 15 years teaching experience and are well regarded by their students. OBU discount available for each paper that you sign up - RM 100/paper with the basic fee starting at RM3,600 with BRM - done professionally inclusive. Graduation is also a guarantee for students that have done majority of the P level in Inti. Other benefits would include placement service for the students to Big 4 and other Mid-tier firms You will also benefit from getting less stress since there is no threat of barring students for exams. International students can apply direct - there is acceptance for you to study here too. UH students do get additional progression benefits - so check it out. Students that have benefited from this blog, please do pass the message around that you NOW have a NEW option for studying ACCA in Subang Jaya area, that will be student centered and exam focused. Posted 17th May 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

4th May 2012

BIG THINGS COMING TO INTI SUBANG

Watch this page for the changes that is coming to Subang ACCA market @ Inti University College in Subang [http://1.bp.blogspot.com/tZPojsBOyfM/T6PuGCvM5JI/AAAAAAAAEm4/s7SnyqqnJqc/s1600/us_OfficePins_200x200_040511.jpg]

A NEW TEAM AND A NEW DRIVE FOR ACCA PROFESSIONAL - GET READY TO BE AWED AND IMPRESSED. Posted 4th May 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

29th April 2012 j-p1.blogspot.com

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Training slots are from Saturday 5/5/12 - Covers ethical aspects Monday 14/5/12 - Covers risk & controls aspect Monday 28/5/12 - Covers governance Time: 8.30 am to 5.30 pm/ Fee is RM400 Seats available: 8 only SMS +60178786074 to book.

Posted 29th April 2012 by Lecturer: Jay MSc UK, Pg.Dip Marketing (UK) FCCA

1st March 2012Lecturers for ACCA P1 in KL / PJ area & Johor There are many students that are looking for lecturers to teach them to pass ACCA P1 paper in Selangor. This state has one of the most highest density of lecturers for the ACCA market, and here are some of the lecturers for this paper. Mr. Jay - Inti / KDU / Jpro Mr. Goh - Sunway Ms. Kiran - Sunway Ms.Sheila - Elite Jaya Mr. Marcus - Kasturi Mr. Parminder - Kasturi Mr. Philip Woo - Taylor Mr Jow - FTMS Mr. Martin Windle - FTMS Mr. Krishnan - Bandar Mr. Sivasathish - PAAC Mr. Ong - Sunway Well the above list is not exhaustive and there could be other lecturers out there. I also know that the following lecturers do teach P1, not sure of the location Mr. Nafzaar Mr. Joey Lecturers in Johor Bharu Mr. Jay - Sunway JB Mr. Parminder - Cresendo JB Mr. Low Chin Ann - Citypro JB There you go, a more comprehensive list of P1 ACCA Lecturers for KL market, which is more than Lowyat forum could offer. The above is a list of lecturers and not a recommendation of who is the best, since each lecturer will have their own unique ability to deliver the subject matter to the student. There is no implication to the order of lecturers, that is just the way I remembered them and also had to j-p1.blogspot.com

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Jay's Governance, Risk and Ethics P1 ACCA

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