Law (LAW)

Module aim

To provide candidates with an understanding of the principles of English law

On completion of this module, candidates will be able to:

• explain the nature of contractual agreements, the agency relationship and the consequences of negligence;
• understand the legal implications of incorporation, including the roles of shareholders and directors, and the main implications of insolvency law;
• identify instances of criminal behaviour that may be encountered by professional accountants; and
• identify other key areas in which the law affects the role and work of the professional accountant.

Method of assessment

The Law module is assessed by a 1.5 hour computer-based exam. The exam consists of 50 questions worth two marks each, covering the areas of the syllabus in accordance with the weightings set out in the specification grid. The questions are presented in the form of multiple choice or multi-part multiple choice.

The pass mark of this module is 55%.

Links to other ACA papers

No prior knowledge is required for LAW module.