P1 Exam Tips from BPP for December 2007

Tipping is not a precise science at the best of time, and for the first sitting of a brand new paper it is little more than a ‘shot in the dark’. It would be inappropriate to guess what is likely to appear in the first exam, so the following tips suggest important areas to cover. However please remember that no one knows what is in the exam, apart from the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam.

Summary of Exam Tips

• The purpose and aims of good corporate governance, together with an appreciation of the relevance of different approaches (rules or principles)
• Aspects of the combined code or Sarbanes- Oxley, even a comparison between the two
• Identification and assessment of all aspects of business risk, using a methodical approach to identify, categorise and assess the array of risks facing an organisation
• Internal control systems and their review by internal audit and the board
• Professional values and ethics, using the array ethical theories and frameworks in the syllabus, with emphasis on the role of the professional accountant
• Corporate social responsibility and
• Environmental management systems

Detailed P1 EXAM TIPS by BPP

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