Aim of the syllabus
The aim of the P1 syllabus is to enable accountants to apply relevant knowledge and skills (and exercise professional judgement) relating to governance, internal control, compliance and risk management in the context of an overall ethical framework with an organisation.
- Governance and responsibility
- Internal control and review
- Identifying and assessing risk
- Controlling risk
- Professional values and ethics.
- Exam date: 10th December 2014
- Exam entry dates: find out
- Exam duration:3 hours, plus 15 minutes reading time
The exam is split into two sections:
Section A - will be based on a compulsory case study style question. It will usually assess a number of syllabus areas and will require you to demonstrate higher level capabilities to evaluate, relate and apply the case information to several of the requirements.
Section B - these questions will usually assess a range of discrete subject areas from the syllabus but may require application, evaluation and synthesis of information from short scenarios in which some requirements may be contextualised.
- Choice of two out of three questions
- Each question is worth 25 marks each (50%)
- You must have completed, or be about to
complete the Skills Module (papers F4, F5, F6, F7, F8, F9)
- You can sit this, with up to three other papers in any one exam sitting
P1 is a core paper and builds upon material examined at F1 Accountant in Business. It also has links with the two audit papers (F8 and P7 ).