In the ACCA (Association of Chartered Certified Accountants) Applied Skills level, LW (Corporate and Business Law) Global variant focuses on the general legal framework of international business. Unlike the English variant, LW GLO emphasizes international trade regulations and cross-border transactions.
LW Global Syllabus Overview (2025–2026)
The syllabus is divided into eight primary areas:
- Essential Elements of Legal Systems: Introduction to different legal systems (Common Law, Civil Law, Sharia Law), sources of law, and the role of international organizations like the WTO and UNCITRAL.
- International Business Transactions: Substantive law under the UN Convention on Contracts for the International Sale of Goods (CISG) and ICC Incoterms.
- Transportation and Payment: Legal aspects of international business funding, transportation documents (e.g., bills of lading), and means of payment.
- Formation and Constitution of Business Organisations: Agency law, partnerships, and corporations (legal personality and company formation).
- Capital and Financing of Companies: Share capital, loan capital (debentures and charges), and capital maintenance/dividend law.
- Management, Administration, and Regulation: The roles, duties, and appointment of company directors, officers, and rules for company meetings/resolutions.
- Insolvency Law: Procedures for voluntary and compulsory liquidation, administration, and the order of debt payment.
- Corporate Fraudulent and Criminal Behaviour: Legal controls over insider dealing, money laundering, and bribery.
Key Learning Outcomes
Candidates who successfully complete the exam should be able to:
- Identify essential elements of different legal systems and the role of international arbitration.
- Apply legal rules from the UN Convention (CISG) to international sales contracts.
- Distinguish between various forms of business organizations and their constitutions.
- Describe company management, regulation, and insolvency implications.
- Recognize and explain corporate fraudulent and criminal activity.
Exam Format
- Duration: 2-hour computer-based exam (CBE).
- Section A: 45 Objective Test Questions (25 worth 2 marks, 20 worth 1 mark) totaling 70 marks.
- Section B: 5 Multi-task Questions (MTQs) worth 6 marks each totaling 30 marks.
- Pass Mark: 50%.