Updated: Sep 5, 2020
On Tuesday (2 Oct), ACCA published an article to share with the news on ethical dilemmas and challenges. By the end of Oct, ACCA’s new Ethics and Professional Skills Module (EPSM) will go live and the current Professional Ethics module will be replaced.
Note: Effective from 2 April 2019, EPSM syllabus was revised to include more sections relevant to the whole Strategic Professional Module, you could find relevant information in ACCA website.
Now, Professional Level is also changed to Strategic Professional, and what students have to know for the changes?
1. Strategic Professional starts at September 2018 exam session
The new Strategic Professional is scheduled to go live on September 2018 session. Students have 3 more exam sessions from now to complete existing Professional Module compulsory papers.
2. A new paper Strategic Business Leader introduced
P1(Governance, Risk and Ethics) and P3 (Business Analysis) will be withdrawn and Strategic Business Leader introduced. Strategic Business Leader is an innovative case study which uses real-world scenarios to set challenges that ask students to blend technical, ethical and professional skills in evaluation.
3. P2 will be modified to Strategic Business Reporting
Technical content of P2 Corporate Reporting remain but the new paper requires students to speak the language of business, explain reports and the impacts of transactions to a wide variety of stakeholders.
4. Four option papers remain available
Students can still choose 2 exams of 4 options. It is the same as current practice.
5. Number of total ACCA exam papers will become 13
By introducing Strategic Business Leader and removing P1 and P3, total number of ACCA exam papers reduced from 14 to 13.
6. Exam fees for Strategic Professional is slightly less than Professional Level
Currently, students are no need to pay for Professional Ethics module. Under the new Strategic Professional, it costs £60 to take Ethics and Professional Skills module. Total exam fee including Ethics and Professional Skills module is approximately £384, which is about £6 lower than current structure. (In 2019/2020, EPSM enrollment fee is £70 and standard entry fee for SBL and SBR exam is £199 and £155 respectively.)
Exam fee table from ACCA
Note: The latest development of ACCA Strategic Professional Module is CBE will be introduced from selected markets, including Czech Republic, Ireland and some of cities in UK, in March 2020.
ACCA reminds students have to plan their exam during the transition from current structure to new one. Students who have passed only one of these exams, for example either P1 Governance, Risk and Ethics or P3 Business Analysis, before September 2018 will have to complete the new Strategic Business Leader exam.
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