changes to PQ syllabus 2013

18-01-2013

Some changes have been made to our PQ syllabus for 2013. Our syllabus was substantially revised last year so the changes being made are generally quite minor and primarily focus on updates to modules such as PSFR, FR, PFT and GPPE to reflect ‘real world’ changes in these areas.

A summary of the changes have been listed below. Those modules not included (MA, FM, BM, BS, SL and SFM) have no changes to syllabus aims or learning outcomes, other than minor changes to wording. Full syllabus information, including a summary of changes, can be found on our Syllabus page.

Financial Accounting

  • Aim A increased to 15% as part of a more general increase in emphasis on ethics across the PQ (see also changes in AA and GPPE).
  • Aim B reduced to 10% as part of a more general increase in emphasis on ethics across the PQ (see also changes in AA and GPPE).
  • A2: addition of reference to IFAC Code of Ethics for Professional Accountants. No significant impact on required knowledge as this Code is the basis of the CIPFA SoPP on Ethics which was already included in this learning outcome.
  • Annex A: addition of IFRIC 20 to table. No impact on required knowledge as this pronouncement is shown as ‘not examinable’.

Financial Reporting

  • No changes to syllabus aims or learning outcomes, other than minor amendments to wording.
  • Annex A: addition of IFRIC 20 to table. No impact on required knowledge as this pronouncement is shown as ‘not examinable’.

Audit and Assurance

  • A3: text of learning outcomes revised. Revision reflects the general increase in emphasis on ethics across the PQ (see also changes to FA and GPPE).
  • A4: reference to APB removed and replaced with ‘Audit and Assurance Council’. This reflects changes in the organisational arrangements of the FRC.
  • Annex: entries in table for standards 260, 706, Ethical Standards 1 to 5 and Quality Standard 1 all updated.
  • Annex: entries in table for standards 620 and 710 changed from ‘level C’ to ‘not examinable’.
  • Annex: entries in table for standard 501 changed from ‘level B’ to ‘level C’.
  • Annex: entries in table for standard 450 and 540 changed from ‘level A’ to ‘level B’.

Public Sector Financial Reporting

  • Table of examinable standards: addition of IFRIC 20 to table. No impact on required knowledge as this pronouncement is shown as ‘not examinable’.
  • Annex: replacement under heading A – ‘Full financial statements’ of ‘NHS Trusts’ with ‘NHS Foundation Trusts’. Also, removal of ‘NHS Foundation Trusts from under heading B. This change reflects changes to the structure of the NHS in England.

Public Finance and Taxation

  • Overall Aims A to F: changes to weighting of Aims.
  • Aim C: change in wording.
  • C1 and C2: changes in wording of some learning outcomes. Transfer of specific Tax content to E8.
  • E8: transfer of Tax content from C2.
  • C1: deletion of bullet: ‘Comparison of key systems of taxation in different countries’. This topic is no longer examinable.
  • D6: deletion of bullet: ‘Assets acquired before 31 March 1982’. This topic is no longer examinable.

Governance, Public Policy and Ethics

  • Aims B, C and E: Aim E increased to 20% and Aims B and C reduced. These changes are a reflection of the general increase in emphasis on ethics across the PQ as a whole (see also changes in FA and AA).
  • Aim E: changes to wording of a number of bullets within this Aim.
  • B3: Addition of bullet:
    The role and influence of the third sector – including voluntary/community organisations, social enterprises, mutuals and cooperatives. Change reflects the changing role of these organisations in public policy and service delivery. The syllabus guidelines highlight that this role is closely connected with that of pressure groups, and learning materials cover these together.