Paper P1: Strategic and operational risks

Risks are bound up with all aspects of business life, from deciding to launch a major new product to leaving petty cash in an unlocked box. The Paper P1 syllabus highlights risk management as an essential element of business governance. The examiner has emphasised that being aware of all possible risks, and understanding their potential impact – as well as the probability of their occurrence – are important safeguards for investors and other stakeholders. Relevant to ACCA Qualification Paper P1 Governance, Risk and Ethics.