In September 2018 exam sitting the Professional Essentials papers will be replaced by two papers: Strategic Business Leader and Strategic Business Reporting.
The Strategic Business Reporting paper will replace the current P2 paper. If you have completed P2 before the September 2018 sitting you will keep this pass and will not need to sit the new Strategic Business Reporting paper.
The Strategic Business Leader paper will replace both the current P1 and P3 papers. In summary, the exam:
- is a 4 hour closed book exam with all compulsory requirements
- tests the content of the syllabus in a number of requirements totaling 100 marks
- has no preseen information, but will present students with 12-18 pages of information on exam day
- requires the student to take on different managerial or consultant roles to answer the requirements
- will comprise 80 marks for technical content and 20 marks for professional skills
For students planning ahead, it is important not to find yourself in September 2018 having only passed one of current P1 and P3. Should this happen you will still need to sit the new Strategic Business Leader paper and the paper you have already passed will essentially be “lost”. You should plan to have either passed both P1 and P3 by the June 2018 sitting or have passed neither and instead take the Strategic Business Leader paper from September 2018 onwards.
Other changes include a new Ethics module, which will replace the current module from October 2017.
For a complete summary of the changes please follow here.