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ACCA P1 Examiner's Report

10 November 2017

P1

General comments
Better P1 ACCA students write the time to start and stop for each question on their scripts says the examiner. No marks are gained for superfluous information and you are wasting your time writing factually correct but irrelevant information.
Each question has a maximum mark allocation and once this has been met then you canít score any more, regardless of how much you write. The examiner says for a 10 mark question candidates should identify five relevant points from the case, explain why they are relevant to the case and then move on!

Q1
The examiner was disappointed by candidates inability to understand the important role board committees have in governance. PQs were better at discussing the conditions that exist allowing the facilitation of corruption. For part c) candidates had to describe the purpose of internal control and to recommend control measures. A briefing notes was then asked for. Sitters had to explain the importance of independence to a shareholder. The final part of Q1 asked bout the wider effects of bribery and corruption, and discussion of the professional code of ethics.

Q2
Candidates had to explain the purpose of a recent AGM and how it allows the exchange of information between the board and shareholders. In part b) students were asked to discuss the rights and responsibilities of private and institutional shareholders in a company. The role of proxy voting and democracy also came up.
Finally sitters had to evaluate the nature of accountability in the agency relationship at a listed company.

Q3
Candidates were asked to use the 3Es to evaluate two public sector proposals. Next up was Tucker 5-question model to help evaluate the moral case. Finally candidates were asked to discuss the contestable nature of the public sector and all its very different stakeholder group demands.

Q4
The diversity of boards came up in September here and how it has a positive affect on performance. The examiner then asked candidates to explain the importance of performance measures for assessing boards and individual directors. Induction and the importance of CPD was also covered in the question.

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