P7 ACCA Exam areas

Based on the past analysis of the P7 paper, it would appear that what is indicated above are the core area of knowledge that should be known by Advance auditing students that are sitting for the international variant paper.

A review of what is the most like issues to be examined in the coming paper will be done later, but for now, if you are preparing for the paper - you should be know the areas highlighted above.

If you are planning to study for the P7 paper this round - from what I know about the market in Klang valley - this are the best lecturers that can handle the paper:

• Jay (Available in J Pro only)
• Joey Wong (Available in KDU and Inti
• Jackson Chan (Kasturi only)
• Goh Hong Lim (Available in Sunway PJ only)
• Sheila (Available in McOrange)

That is a summary of the lecturers in Klang valley that are involved in the paper, but there could be others - if I had missed out any, please do inform me using the comments

Auditing job kills - whose mistake is it?

Recent news about an auditor in China working for the Big 4 audit firms dying due to possible overworking during the peak periods have highlighted the lack of awareness of the professional regarding simple professional behaviour.

http://english.cri.cn/6909/2011/04/14/2021s631992.htm

One of the fundamental rules for accountants is the need to ensure that you are professionally capable of handling the job, by accepting too much on the plate and not requesting for additional time or additional support does indicate a failure in application of professional principles.

I would have to blame 3 parties for this incident - the staff, the firm and the government.

Firms

- Lack of risk assessment, since this is a basic risk factor to be considered. Over-working a staff will significantly increase their health risk. European regulations regarding working hours have already addressed this issue - overworking the staff increases the social cost to the society significantly, hence the need for regulation to reduce the risk of this happening.

- Unfortunately, for countries in the Asian hemisphere, this is a slow and steady process, since they want to use "cheap labour" as a source of competitive advantage

- Firms should adopt a more globalised approach in managing risk, but once again the geographic divisionalisation would allow each groups to have different manner in which they approach risk and ethics.

Staffs

- When there is a clear signal that your body is tired - listen to it, there is no point pushing it further

- Jobs and the career is just one aspect of material gains, there are many other ways to financial freedom

- Gaining an experience should not be done at the expense of the health.

Government

Overall at the end of the day, we can only blame the government, who are appointed to take care of their citizen (all of them) not only from external threats (foreign occupation) but also internal threats from companies that exploit the citizens. Lack of understanding of the human resource department regarding the pressures that companies exert on their intellectual capital may be the source of this problem.

This is just my opinion on the matter - since there is significant buzz about this matter in facebook.