You are on page 1of 5

OpenTuition: P1 December 2011 Exam tips q1 Internal control problems, role of the Chair, the contribution that neds

can make to corporate governance q2 Corporate social responsibility why and what q3 Internal auditors and their role in managing risk q4 Ethical problems possibly a money laundering situation possible question instead of any of those last three a numbers question Please Note Tips should not be relied on they are only intelligent guesses. Their only purpose is to give you suggestions for topics to concentrate on in your last few days of preparation. Do not exclude other topics from your overall preparation.

Jun 2011

Dec 2010

Jun 2010

Dec 2009

Jun 2009

Dec 2008

Jun 2008
A. stakehol der and stakehol der claim; B. framewo rk to assess the risks; C. a

Dec 2007
A.transp arency; B. Kohlber gs three levels; C. roles of nonexecutiv e directors ;

Q1

A.Explore the circumstances leading to the fuel tank problem. Identify and explain internal control measures capable of mitigating the risk in future car development projects; B. Kohlbergs three

A. Explain the factors that might lead institutional investors to attempt to intervene directly in the management of a company; B. absolutist and relativist approaches C. A speech of

A. stakeholders and claims; B. employee representatives; C. agency relationship; D. A statement on companys website of accurate risk assessment is necessary; environmental footprint

A. AAA; B. identify and analyse the internal control failures; C.contribution that nonexecutive directors; D. A memo of the importance of information relating to operational internal controls and risks, and qualitative

A. three levels of Kohlbergs theory; B. FIVE typical causes of internal control failure; C. agency relationship; D. narrow and wide stakeholders;

A. Tuckers model; B. strategic and operationa l risks; C. a statement( pristine capitalist)

levels; C. AGMs and EGMs; D. A statement of the roles of the chief executive, pristine capitalist.

importance of sound corporate governance; mandatory external reporting of internal fi nancial controls and risks; Content of external report on internal controls;

characteristics of information

E. A letter of roles and responsibilities of CEO.

containset hical arguments ; D. mandator y and voluntary disclosure s

statemen t to read out at the AGM of sustainab le develop ment; confiden tiality conflicts with the duty of transpare ncy; D. subcontracto rs. A. auditor independ enceand threats; B. ethical tension between roles of employe e and professio nal Account ant; C. absolutis

D. A letter to explain internal controls are importan t, and how internal systems might be improve d.

Q2

A. need for risk assessment, risks are dynamic; B. TARA framework; C. related risks; D. culture of risk awareness.

A. sustainability in the context of environmental auditing; B. three stages in an environmental audit; C. environmental risk, strategic and operational risks

A. remuneration committee; B. designed executive reward package; C. Construct an ethical case

A. directors induction programme; B. two-tier boards; C. role as non-executive chairman

A. public interest; B. five types of ethical threat; C. deep ecologist position on social responsibility

A. roles of a risk managem ent committee ; B. TARA framewor k; C. executive and NEDS.

A. strategie s to manage risk; B. risk awarenes s embedde d; C. performa ncerelated pay

Q3

A. charities differ
from public listed companies; B. transparency; C. audit committee.

A. confl ict of interest, cross directorship B. advantages of NEDS c. best practice corporate governance report within an annual report

A. rules-based and principles-based approaches; B.advantages of internal control, unmonitored controls tend to deteriorate over time; C. internal audit testing, internal audit to ensure the effectiveness of internal control systems.

A. integrity; B. ethical and professional behavior; C. ethical dilemma

A. director leaves the service of a board; B. importance of the chairmans statement; C. reward package; D. chairman.

A. FIVE general objectives of internal control; factors that determine the need for internal audit; B. internal audit arrangeme nts; C. market risk, audit committee .

t (dogmati c) and relativist . A. agency and governan ce arrange ments; B. roles and usefulne ss of a nominati ons committ ee; C. retireme nt by rotation

A. roles of the chairman ; B. benefits of the separatio n of the roles of CEO and chairman , and why accounta bility to sharehol ders is increasin g by that; C. corporat e governan ce provisio ns should vary by country

Q4

A. five types of ethical threats; B. public interest; C. insider dealing/trading.

A. liquidity risk; B. risk embeddedness; C. obstacles to embedding liquidity risk management; D. social responsibility.

A. governance issues of a family or insider-dominated business; B. a professional considered by society; C. professional and ethical dilemma

A. embedding risk; B. culture to implement embedded risk systems; C. external risk auditing

A. roles of a risk manager; B. risk assessment framework; C. entrepreneurial risk; argument for/against risk management.

A. purposes and contents of a corporate code of ethics; B. code of ethics can be used as part of a company s overall strategic positionin g; C. deontolog ical and Teleologi cal.

A.rulesbased and principle s-based B. external report on internal control; C. external reporting requirem ents on internal controls were too ambitiou s for small and medium compani es

A. stakehol der; B. pristine capitalist &social contracta rian; C. fiduciary responsi bility.

You might also like