The Association of Chartered Certified Accountants (ACCA) is a globally recognized professional accounting body that promotes ethical conduct and professionalism among its members. As part of its comprehensive qualification program, the ACCA Ethics and Professional Skills Module plays a crucial role in developing the ethical awareness and professional skills of aspiring accountants. This article aims to provide an overview of the ACCA Ethics and Professional Skills Module and its significance in the accounting profession.
Understanding the ACCA Ethics and Professional Skills Module:
The ACCA Ethics and Professional Skills Module is a mandatory component of the ACCA qualification program. It is designed to equip individuals with the necessary ethical principles and professional skills required to excel in the accounting and finance field. The module is based on the ACCA's Professional Ethics and Foundations syllabus, which focuses on ethical behavior, professional values, and ethical decision-making.
Objectives:
The ACCA Ethics and Professional Skills Module serves as a cornerstone for developing ethical conduct and professionalism in the accounting profession. By emphasizing ethical awareness and essential professional skills, the module equips individuals with the necessary tools to navigate complex ethical dilemmas and contribute to the sustainable success of organizations. Completing the module not only strengthens an individual's ethical foundation but also enhances their employability and professional growth prospects in a highly competitive industry.
Key Components and Learning Outcomes:
The module comprises several key components, including ethical behavior, corporate governance, professional values and attitudes, personal effectiveness, and professional skepticism. By engaging in the module, students are expected to achieve the following learning outcomes:
Understand the importance of ethical behavior in the accounting profession.
Apply ethical theories and principles to real-life scenarios.
Develop strong corporate governance knowledge and practices.
Demonstrate professionalism in the workplace through effective communication, teamwork, and time management.
Foster personal effectiveness by developing skills such as critical thinking, problem-solving, and leadership.
Cultivate professional skepticism to identify and address potential risks and ethical issues.
Teaching Methods and Assessments:
The ACCA Ethics and Professional Skills Module utilizes a combination of teaching methods to ensure a comprehensive learning experience. These methods include lectures, case studies, interactive workshops, group discussions, and online learning resources. Students are encouraged to actively participate in class discussions and engage in practical exercises to apply ethical concepts and professional skills.
Assessments within the module are designed to evaluate the students' understanding and application of ethical principles and professional skills. The assessments may include written exams, group projects, presentations, and reflective reports. These evaluations enable students to demonstrate their knowledge and skills while receiving valuable feedback from tutors and peers.
Benefits for Students and Professionals:
The Ethics and Professional Skills Module offers numerous benefits for students and professionals pursuing a career in accounting and finance:
Enhanced ethical awareness: The module instills a strong ethical foundation, enabling individuals to make ethical decisions and act responsibly in challenging situations.
Competitive advantage: Completing the module demonstrates commitment to ethical conduct and professionalism, setting individuals apart from their peers and enhancing their employability prospects.
Skill development: The module equips individuals with a range of professional skills, including effective communication, critical thinking, and problem-solving, which are highly valued by employers.
Global recognition: ACCA is a globally recognized qualification, and completion of the Ethics and Professional Skills Module adds credibility and international recognition to individuals' professional profiles.
Increase in Pass rate: Based on recent ACCA Strategic Professional pass rates, Completing EPSM before Strategic Professional exams increases pass rates by up to 25%.
Continuous Professional Development (CPD): The ACCA Ethics and Professional Skills Module also emphasizes the importance of continuous professional development (CPD). ACCA members are required to
engage in ongoing learning activities throughout their careers to stay updated with the latest developments in ethics, regulations, and professional skills
Some General information on the Ethics module is as follows-
1. Mandatory Requirement: The Ethics and Professional Skills Module is a mandatory component of the ACCA qualification program. Students must complete this module to become ACCA members.
2. Structure : The module is divided into two sections: Ethics and Professional Skills. The Ethics section focuses on ethical behavior, theories, and principles, while the Professional Skills section covers topics such as corporate governance, personal effectiveness, and professional skepticism. The module has 10 units, with 7 learning units and 3 assessment and support units.
To view the syllabus in detail, click here -
3. Duration-The online learning module requires approximately 20 Hours to complete.
4. Pricing-The Price of the module is 75 Euros as per the ACCA website .This is one time cost for the module . Once a student has paid for the module they will be able to attempt the assessment multiple time and have unlimited access to the rest of the module content.
5. Teaching Methods: The module employs a variety of teaching methods to facilitate learning. These may include lectures, case studies, interactive workshops, group discussions, and access to online learning resources. The diverse teaching methods help students understand and apply ethical concepts in practical scenarios.
6. Assessments: The module includes assessments to evaluate students' understanding and application of ethical principles and professional skills. The assessments can include written exams, group projects, presentations, and reflective reports. They provide students with opportunities to demonstrate their knowledge and receive feedback from tutors and peers. There is a 2 hour time limit in place to complete the final assessment. The final assessment consists of 14 questions – two objective test questions from each of the first seven units with required passing marks of 50%.
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