Navigating ACCA’s Ethics and Professional Skills Module: A Mauritius Perspective

The Ethics and Professional Skills Module (EPSM) is a crucial component of the ACCA qualification, bridging technical knowledge with practical workplace skills. This module offers particularly relevant insights for Mauritian professionals given the island’s position as an international financial center with specific ethical considerations.

Understanding the EPSM Requirement

What is the EPSM? The Ethics and Professional Skills Module is a self-paced online module that develops the professional skills employers expect from ACCA professionals. It is a mandatory component of the ACCA qualification that must be completed before you can become an ACCA member or sit for the Strategic Professional exams.

Module Structure The EPSM consists of six interactive units:

1. Ethics and Professionalism
2. Personal Effectiveness
3. Innovation and Skepticism
4. Commercial Awareness
5. Leadership and teamwork
6. Communication Skills

Each unit takes approximately 4 hours to complete, with the entire module requiring about 20-25 hours of focused study.

Relevance to the Mauritian Business Environment

Ethics in Mauritius’s Financial Center Context

Mauritius has developed as an International Financial Center (IFC) connecting investors to African, Indian, and Chinese markets. This position creates unique ethical considerations:

• Confidentiality requirements in dealing with global business companies
• Conflicts of interest when serving multiple stakeholders across jurisdictions
• Anti-money laundering compliance under Mauritius’s FIAMLA regulations
• Substance versus form considerations in international tax structures

The EPSM prepares you to navigate these Mauritius-specific challenges by applying the fundamental principles of the ACCA Code of Ethics and Conduct.

Professional Skills Valued by Mauritian Employers

Our research with Mauritian employers indicates these EPSM skills are most valued locally:

1. Commercial Awareness
   • Understanding Mauritius’s position in global investment flows
   • Knowledge of key sectors driving the Mauritian economy
   • Appreciation of regional trade agreements affecting local business
2. Communication Skills
   • Ability to communicate effectively in Mauritius’s multilingual environment (English, French, Creole)
   • Skills in explaining complex financial concepts to non-technical stakeholders
   • Cross-cultural communication skills for international client interactions
3. Leadership in Diverse Teams
   • Managing teams in Mauritius’s multicultural context
   • Building consensus across diverse perspectives
   • Adapting leadership styles to Mauritius’s business culture

Practical Tips for Completing the EPSM

Based on feedback from our Mauritian students, HAMZAH Academy recommends:

Timing Your EPSM Study:

• Complete the module after passing at least three Applied Skills exams
• Allocate dedicated time rather than attempting to rush through it
• Consider scheduling it during Mauritius’s quieter business periods (avoiding peak financial reporting seasons)

Maximizing Learning with ACCA Coaching in Mauritius:

• Relate ethical scenarios to real Mauritian business situations you’ve encountered.
  Form discussion groups with fellow ACCA coaching students in Mauritius to debate ethical dilemmas.
  Keep notes on key principles for application in Strategic Professional case studies.

Technical Considerations:

• Ensure reliable internet connectivity (we recommend fiber connections available in most Mauritian business districts)
• Complete the module in a quiet environment free from distractions
• Save your progress regularly as you work through each unit

Case Study: Ethical Dilemmas in the Mauritian Context

To illustrate the application of EPSM principles, consider this Mauritius-specific scenario:

Scenario: You’re an accountant at a management company administering global business companies in Mauritius. A client asks you to backdate documents to qualify for certain tax benefits under a treaty that has recently changed.

Ethical Analysis:

1. Integrity principle: Backdating would misrepresent facts
2. Professional behavior: Action could breach Mauritius Financial Services Commission regulations
3. Confidentiality vs. public interest: Balancing client confidentiality against regulatory requirements

This type of Mauritius-specific scenario is similar to those explored in the EPSM, helping you develop ethical reasoning skills directly applicable to your local career.

HAMZAH Academy’s Support for EPSM Success

To help our Mauritian students excel in the EPSM, Hamzah Academy offers:

• Pre-EPSM workshop introducing key ethical frameworks in the Mauritian context
• Supplementary materials highlighting Mauritius-specific regulations and ethical considerations
• Post-EPSM discussion sessions to reinforce learning and application
• One-on-one guidance for applying ethical principles to Mauritian workplace scenarios

Beyond the Module: Ethics in Your Mauritian Career

Completing the EPSM is just the beginning of your ethical journey as an ACCA professional in Mauritius. The principles learned will continue to guide your career as you:

• Navigate Mauritius’s evolving regulatory landscape
• Advise clients on international business structures with adequate substance
• Balance commercial pressures with ethical responsibilities
• Support Mauritius’s reputation as a well-regulated financial center

By mastering the EPSM with HAMZAH Academy’s Mauritius-focused support, you’ll not only progress in your ACCA qualification but also develop critical skills for long-term career success in Mauritius’s dynamic financial services sector.

Article 8: From ACCA Student to Finance Leader: Career Pathways in Mauritius

The ACCA qualification opens numerous career pathways in Mauritius’s evolving economy. This guide explores how to progress from student to finance leader, with insights specific to the Mauritian job market and business environment.

Entry-Level Opportunities in Mauritius

Accounts Assistant/Junior Accountant

Typical Requirements: Partial ACCA qualification (1-3 papers) Key Responsibilities:

• Processing transactions within Mauritian accounting systems
• Assisting with month-end procedures
• Basic reconciliation work
• Supporting tax filing preparations

Mauritius-Specific Insights:

• Starting salaries range from MUR 20,000-30,000 Monthly
• Opportunities span banking, manufacturing, tourism, and services sectors
• Many positions available in Ebene Cybercity and the Port Louis business district

Audit Associate

Typical Requirements: ACCA fundamentals level or part-qualified Key Responsibilities:

• Conducting audit fieldwork at client sites across Mauritius
• Verifying compliance with Mauritian statutory requirements
• Preparing audit working papers
• Supporting senior team members

Local Market Insights:

• Big Four firms recruit annually (December-February)
• Roles offer excellent exposure to diverse Mauritian industries
• Requires travel throughout the island and occasional regional assignments

Mid-Career Progression (3-6 Years)

Management Accountant

Requirements: ACCA qualification nearing completion or newly qualified Key Responsibilities:

• Budgeting and forecasting for Mauritian operations
• Management reporting and variance analysis
• Cost control initiatives
• Supporting strategic decision-making

Mauritius-Specific Opportunities:

• Strong demand in manufacturing sector (textiles, food processing)
• Growing opportunities in Mauritius’s expanding hospitality groups
• Positions available in regional headquarters based in Mauritius

Financial Accountant

Requirements: ACCA qualified or finalist Key Responsibilities:

• Financial statement preparation under IFRS
• Ensuring compliance with Mauritius statutory requirements
• Managing month-end and year-end processes
• Liaising with external auditors

Local Insights:

• Financial services companies offer competitive packages (MUR 50,000-75,000)
• Opportunities in Global Business Companies require additional regulatory knowledge
• Public listed companies in Mauritius seek qualified accountants for reporting roles

Senior Roles (7-12 Years Experience)

Finance Manager

Requirements: Full ACCA qualification with 7+ years of experience Key Responsibilities:

• Leading finance teams within Mauritian organizations
• Developing financial strategies
• Overseeing budget processes
• Business partnering with operational departments

Mauritius Career Path Insights:

• Positions command salaries of MUR 80,000-120,000
• Often includes benefits such as company car and performance bonuses
• May require additional industry certifications (banking, insurance)

Financial Controller

Requirements: ACCA with 10+ years progressive experience Key Responsibilities:

• Overseeing the entire finance function
• Ensuring robust internal controls
• Managing relationships with banks and financial institutions
• Strategic financial planning

Local Market Context:

• Multinationals with Mauritius operations seek qualified controllers
• The role often serves as a stepping stone to the CFO position
• Requires understanding of Mauritius’s business ecosystem and connections to Africa/Asia

Leadership Positions (12+ Years)

Chief Financial Officer

Requirements: ACCA plus MBA or additional qualifications, 12-15+ years experience Key Responsibilities:

• Setting financial strategy for Mauritian businesses
• Treasury and funding management
• Investor relations (for listed companies)
• Board-level representation

Mauritius-Specific Considerations:

• Top CFOs in Mauritius earn MUR 150,000-300,000+ monthly
• Often includes equity participation in medium-sized companies
• Requires a strong network within the Mauritius business community
• Deep understanding of Mauritius’s position in global business

Finance Director/Partner

Requirements: ACCA plus extensive experience, possibly specialized certifications Key Responsibilities:

• Providing strategic financial leadership
• Representing the firm to key stakeholders
• Business development (especially in professional services)
• Mentoring future leaders

Paths in Mauritius:

• Professional services firms offer partnership tracks
• The corporate sector offers director-level board positions
• Opportunities to serve on boards of multiple Mauritian companies
• Possible progression to CEO roles, particularly in financial services

Specialized Career Paths in the Mauritian Context

Global Business Specialist

Mauritius’s offshore sector offers unique opportunities:

• Structuring international investments through Mauritius
• Ensuring substance requirements are met
• Managing cross-border transactions
• Navigating international tax treaties

Financial Services Compliance

With Mauritius’s focus on regulatory excellence:

• Ensuring compliance with Financial Services Commission requirements
• Implementing AML/CFT frameworks
• Adapting to evolving global standards (FATF, OECD)
• Managing regulatory reporting

Business Advisory Services

Growing demand for advisory professionals who can:

• Support Mauritian businesses expanding into Africa
• Advise on business restructuring
• Provide transaction support services
• Offer valuation expertise