alamode - March 11 2009 11:47 PM
Wonderful achievement man. Well done keep it up and Congratulations you better go and celebrate it !
And as im giving P1 this session, Can you give me any tips as to how you prepared for the exam? Thanks.
Thanks Alamode. My approach may not work for everyone as I’ve been working for 13 years and can draw down on a lot of practical experience.
I avoided getting bogged down with the theory and focused on the big issues, i.e. the agency problem and recent corporate failures/scandals to add some relevance. I then considered how they could have been prevented by applying best practice (NEDs, committees etc.). I skimmed over the different acts that make up the combined code and got a decent layman’s understanding of Sarbanes-Oxley. I approached the internal control section from a high level reviewing as many practical cases as possible and I memorised the COSO framework. The ethics section is very theoretical, so I just had to commit as much of it to memory as possible. Thankfully the exam in the Dec-08 sitting was very practical! I tend to do better when I can relate to the case study or scenario.
I also found the Passacca.net downloads for P1 to be very useful at focusing my efforts on the most important areas of the course. I’ve tended in the past to get flustered by the sheer volume of material.
I hope that helps!
