Chris Cain has some recommendations on how to tackle a section of this exam that regularly trips up sitters.
Some candidates had major problems with one of the tasks in the SBL December 2024 examination because they did not understand the wording of the Task.
These problems might be overcome by implementing the following recommendations.
Firstly, know the ACCA Syllabus and Study Guide.
The following is taken from the SBL, Syllabus and Study Guide, September 2024 to June 2025, page 11:
D Risk
Identification, assessment and measurement of risk
a) Discuss the relationship between organisational strategy and risk management strategy.
b) Apply the enterprise risk management (ERM) approach to risk management and for establishing risk management systems.
The reason for reading the study guide is to identify the way in which Tasks are likely to be worded or could be worded.
In relation to D1b) above, the COSO framework, as an example of an ERM is not mentioned or listed. This means that the COSO framework may not be mentioned in the Task in the exam.
Secondly, you must read the SBL Technical Articles on the ACCA website.
In our illustration, the relevant article to read is called ‘COSO’s enterprise risk management framework’.
This SBL technical article explains in depth, the COSO framework as an example of an ERM.
This article also makes the point that “the COSO cube continues to be useful as it continues to provide a framework for improving risk management and internal control”.
This tells us that the examiners also see the COSO framework (ERM) as an internal control management system.
You must, therefore, be prepared for a Task that does not name the COSO framework and/or the words ‘enterprise risk management’.
This is because the wording of the study guide allows the examiners to ask candidates to analyse the elements of an internal management control system.
Thirdly, note any changes to the Study Guide from each September (in SBL).
It is imperative that candidates are also aware of any changes to the syllabus and study guide because the materials being used to learn, including videos, may either be out of date and/or may not cover newly introduced elements.
For example, the following is from the SBL Syllabus and Study Guide, September 2023 to June 2024 (page 22) and represent changes from the September 2022 to June 2023 Syllabus and Study Guide (note that more changes are on page 22 in the original document than listed below).
Any candidates failing an SBL June exam, and intending to re-sit within the next four diets, should note that there may be some changes to the syllabus and study guide. They must, therefore, study the new syllabus elements.
The SBL syllabus has not, however, changes since June 2023.
In summary:
- understand the wording of the syllabus and study guide’
- read the technical articles; and
- ensure that you will not be negatively impacted by any syllabus changes.
- Chris Cain is an approved trainer with PwC Academy
