past paper

Question 1

analyse

Answer 1

investigate, enquire, consider

Question 2

evaluate

Answer 2

assess, estimate, appraise

Question 3

scepticism

Answer 3

Q, challenge, probe

Question 4

commercial accumen

Answer 4

awareness, judgement, insight

Question 5

communicate

Answer 5

inform, persuade, clarify

Question 6

analysis of industry and market

Answer 6

5 forces

buyer, supplier, new entrants, substitutes, existing competition

Question 7

Integrated reporting

Answer 7

6 capitals:

financial capital, manufacturing capital, social & relationship capital, natural capital

Question 8

benefits of Big data

Answer 8

predictive data

tracking

Question 9

opportunities of Big data

Answer 9

more precise data

Question 10

RISKS = HEAT MAP

Answer 10

strategic, business, financial, environmental

High impact V High probability

Question 11

stakeholder analysis

Answer 11

mendolow matrix

HI, HP inform, satisfy, ignore, close

Question 12

agency role

Answer 12

-

Question 13

NED role

Answer 13

contribute to strategic plan, scrutinise ED, external perspective, resolve conflicts, deal with personal issues

Question 14

actual V relative performance

Answer 14

work out percentage change and see if achieved goal - make a column yes/no

Question 15

effectiveness of internal controls

Answer 15

anything controlling risk in an organisation

e.g. staff, integrity, values, control environment

Question 16

talent management

Answer 16

retention of employees who can make a difference to the organisation and add value

Question 17

necessary change management

Answer 17

to bring about change its important to employ people with different expertise

Question 18

safeguards to reduce fraud

Answer 18

look at preventable fraud VS unpreventable

Question 19

NED add value

Answer 19

implementing new ideas, deciding on remuneration, outsiders expertise

Question 20

report layout

Answer 20

TO, FROM, DATE

TITLE

Question 21

strategy

Answer 21

= SFA