Oxford Brookes University (OBU) offers the students a choice between 20 topics to pursue for the research paper. They range from restructuring, information systems, impeding legislation, etc all the way to risk management.
There are 2 topics that have precise requirements in terms of industry that can be selected. Usually with the publishing of the new Information Pack, the new industries will be released.
Once you have the list of topics in hand, I would suggest you consider the following criteria for coming up with a short list.
Comfort zone: Decide if you want to stay in your comfort zone by selecting a topic that is strongly related to your day-to-day work. Or you could pursue something that you were always curious about that but far away from your core knowledge
Curiosity: Is there an area that you have admired from the distance? Maybe now is the time to pick the study on employee motivation, budgetary control systems, or mergers or any topic that you are curious about but not necessarily related to your current path
Career path: If you want to move into internal audit in the future, might be valuable to take the time now and do the research on this topic as it will provide knowledge for your future profession. Or how about costing? Exploit to the maximum this research to maximize the impact by adding skills valuable for you in the next years.
My proposed approach would be to create a list by going through the following steps:
Step 1: Select the area that you have the most experience in
Step 2: Select the area that will move you 50% out of your comfort zone
Step 3: What is the subject you found most interesting during your ACCA studies?
Step 4: Where do you see yourself professionally in the next 3 years?
At the end of this exercise you should have narrowed down the list to maximum 4 topics of interest. Give it 2 days to sink in and then consider selecting top 2 topics.
You can also block some time during the first meeting with your mentor to discuss the short list and draw a conclusion.