To develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.
Essential elements of the legal system.
The law of obligations (contract and tort).
The formation and constitution of business organisations.
Capital and the financing of companies.
Management, administration and regulation of companies.
Legal implications relating to companies in difficulty or in crisis.
Governance and ethical issues relation to business.
The examination is a law examination appropriate for accountants rather than a law paper for lawyers.
All questions are compulsory and are worth 10 marks each.
The exam is three hours, plus 15 minutes reading time.
There are seven knowledge based questions and three questions requiring analysis and application (problem or scenario based questions).
There is a focus on ethics and corporate governance as well as the law itself.