Paper C05 - Fundamentals of Ethics, Corporate Governance & Business Law

Syllabus outline
  • Ethics and Business

  • Ethical Conflict

  • Corporate Governance

  • Comparison of English Law with Alternative Legal Systems

  • The Law of Contract

  • The Law of Employment

  • Company Administration and Finance

Unless specifically mentioned, the English legal system will be the context for those parts of this syllabus that relate to the study of business law.

Learning aims
  • Discuss the framework of professional values, ethics and attitudes for exercising professional judgement and acting in an ethical manner, that is in the best interests of society and the profession
  • Explain the need to comply with the CIMA and IFAC 'Codes of Ethics for Professional Accountants
  • Explain the importance of good corporate governance and the evolution of good practice
  • Explain fundamental aspects of the organisation and operation of the English legal system and compare and contrast it with other legal systems
  • Explain the elements of the tort of negligence and the manner in which the tort impacts upon professional advisers
  • Explain the essential elements of a simple contract, what is regarded as adequate performance of the simple contract, and the remedies available to the innocent party in the event of a breach
  • Explain the essential differences between sole traderships, partnerships and companies limited by shares
  • Explain the way in which companies are administered, financed and managed
  • Apply legal knowledge to solve business problems

A computer-based assessment of 2 hours duration, comprising 75 compulsory questions, each with one or more parts.

Course details

Course type:

Taught + Revision




580 AZN

Fee includes:

Taught and Revision phase, as well as Progress Tests, Mock Exam and  full package of study materials from CIMA-approved publisher (Study Text, Practice and Revision Kit) and coffee breaks.


Total Duration:

40 hours

Week day:



09:30 - 13:30


77 Samad Vurghun Street • Officers Park • Baku AZ1022, Azerbaijan

You can get 5% discount by registering at least 30 days prior to the course commencement

The person who wants to get registered can choose one of the following methods:


1. REGISTER ONLINE (for faster and more convenient service)

2. Fax or E-mail: please fill out the Registration Form (PDF) and fax it to (994 12) 437 10 51/61 or e-mail to ipq@grbs.comAfter sending the Registration Form to us our customer service specialists will contact you in 24 hours.


3. Before the course client has a chance to take diagnostic test to determine his or her level of knowledge on relevant course(!). Diagnostic test fee is 40 AZN. In case of register to the course and after signing the contract 40 AZN will be deducted from the payment of the course.


Days of the test:

Monday, Wednesday, Thursday, Friday, Saturday from 19:00 till 20:00.

The seats are limited. Registration is undertaken on first-come-first-served basis; early application and early registration are advised.

Success assurance

We strongly believe that you have the best chance of passing exams if you follow our recommendations of enrolment in Taught+Revision course per each paper you intend to attempt and meet the THREE following conditions:

  1. Attend Taught+Revision course without absences
  2. Get at least 50% on both Progress Tests
  3. Get at least 50% on Mock Exam

If the student fails the exam without meeting all the above conditions, GRBS® will allow him/her to re-sit the course FREE OF CHARGE. In addition, we will PAY the re-sit exam fee for the Student.


If the Students fails exam without meeting all above conditions, then GRBS® will grant him/her a 50% discount for a re-sit course.

T4 and CBA Exams

GRBS® being officially licensed  to organise and administer CBAs by CIMA is pleased to invite you all to sit CIMA Certificate Level (Papers C01-C05) exams as well as T4 (TOPCIMA) Computer Based Exam at GRBS® CBA Center. You can take your CBE at GRBS® CBA Center and schedule a suitable CBA date especially for you.


For more detailed information please click here.
  • If several employees of the same organization/company will participate in the course, offers the following discounts: 4% for 2, 6% for 3,  8% for 4,  10% for 5-10, and even higher discounts for more participants ( for more details ).
  • GRBS® grants incremental 5% discount for each subsequent qualification course attended.
  • 10% discount for persons aged from 16 to 23.
  • GRBS® offers 10% discount for bachelor degree students.
  • Government employees will be given 10% discount.
  • 10% discounts for owners of MYBRAND'S card.
  • GRBS® offers 10% discount for AG Club members.
  • GRBS® offers 10% discount for owners of ISIC card.  
  • 10% discount for Biz Club subscribers
  • 10% discounts for members of Unibank Discount Club
  • 21% discount for soldiers who were demobilized during the last year and 50% discount for every soldier who served at the front.
  • In addition, GRBS® offers extra discounts for people entitled to special benefits granted by The Law of the Republic of Azerbaijan (for more details).


Important notes:

  • Every client can benefit only from one discount offer.
Tell a friend
  • If your friend and/or colleague enrols in CIMA preparatory courses based on your recommendation, you both get 38 AZN subtracted from the course fee.
  • 38 AZN subtraction is applicable solely to CIMA preparatory courses being attended or to be attended in the future.
  • You may recommend not more that two friends and/or colleagues.
  • Only individual clients (the ones who sponsor the participation in the course on their own) are eligible to apply for the programme.
Cancellation policy

The Client must notify the representatives of GRBS International Professional Qualifications verbally or in writing if he/she wishes to cancel the registration, change course dates or switch from one course to another. The notifications must be done at least 7 (seven) business days in advance before the course starts in order to avoid paying cancellation fee of 30% of the course fee. If Client wants to cancel the registration, change course date and switch to another preparatory course he/she has to pay cancellation fee of 100% of the course fee.

For participants from abroad
GRBS® renders additional services: the client's meeting and accompaniment, transfer and accommodation services, cultural and entertainment programmes (for more details).

For more detailed information on CIMA Qualification preparatory courses please


More information on CIMA Certificate in Business Accounting is available at

28 M/St, Baku Central Hub • Pushkin Street, Demir Yol Plaza, 15,16th floors • Baku AZ1010, Republic of Azerbaijan

T: (994 12) 599-00-61 • T: (99412) 599-00-62 • T: (99412) 599-00-63 • T: (99412) 505 10 71 •

© 2013- GRBS®

Join us on: