ACCA P1 – Governance, Risk and Ethics

Introduction

Studying for the P1 exam

The content of this Knowledge Bank is not designed to be a substitute for a structured system of study towards the exams but rather should help complement your chosen study system.

In particular,

• we do not guarantee full syllabus coverage,
• the knowledge bank focusses on knowledge, concepts and ideas but has very few worked examples or graded exercises for you to practice,
• there are no past exam questions here to attempt
• examiner's articles are not repeated here.

We highly recommend that you complete a structured course of study and obtain text books and exam kits to improve your chances of exam success.

Using the Kaplan Financial Knowledge Bank

The main benefits of the way the content is presented and accessed via the Knowledge Bank are as follows:

• a quick answer to a quick question - if you have a P1 query then you should be able to access a trusted answer quickly and efficiently using either the search function, the top navigation bars or /and the side navigation.
• integrated knowledge - examiners often criticise students for not appreciating how different topics fit together. By following the structured links and navigation bars in the content, you can explore related concepts to integrate your knowledge.

• assumed knowledge - you can revise assumed knowledge from F8, say, by searching for the relevant topics and reading around the subjects

The ACCA P1 syllabus

 A good page to start on if you are unclear where to begin would be the overview Governance, Risk and Ethics page and then explore further using the menu on the RHS.

Other useful starting points for exploration are linked to syllabus areas below.   

The syllabus for P1 is split into 5 main areas:

A Governance and responsibility

Governance is covered in detail on the Governance  page. You should also look at the page on Corporate Social Responsibility.

B Internal control and review

The main of relevance here is the page on Audit and Compliance and the one on reporting Internal Controls.

C Identifying and assessing risk

Start with the page on Risk but also look at the page on Risk Management.

D Controlling risk 

Start with the page on Controlling Risk. 

E Professional values and ethics

Start with the page on Ethics ,making sure you explore the sub-pages linked to it.

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