Ethics Update: EP 100 for Accountants and Auditors (Incorporating the Changes Effective 31 December 2021)
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Description

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ISCA has issued EP 100 (revised on 7 July 2021) to adopt the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA):

Key changes are summarised below:

  • Revisions to Part 4B of the Code to Reflect Terms and Concepts Used in International Standard on Assurance Engagements 3000 (Revised) (Revisions to Part 4B); and
  • Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants (Role & Mindset).

EP 100 (revised on 7 July 2021) is expected to be effective 31 December 2021. Early adoption is permitted. There are changes to the fundamental principles and an expansion on the definition of biasness into various kinds of biasness such as automation bias and anchoring bias. This workshop will illustrate with examples the application of such guidance.

This workshop will also cover the recent rounds of updates and revisions.

Programme Outline

EP 100 (revised on 14 August 2018)

  • Changes to the provisions on long association of senior personnel with an audit or assurance client

EP 100 (revised on 11 December 2019)

  • Adopt IESBA’s pronouncement of Responding to Non-Compliance with Laws and Regulations (the NOCLAR Pronouncement)

EP 100 (revised on 11 December 2019)

  • • Clarify that certain financial institutions are not public interest entities (“PIEs”) for purpose of ISCA EP 100. e.g. money changers and representative offices

EP 100 (revised on 28 July 2020)

  • Incorporate consequential amendments to the definition of financial institutions due to the implementation of the Payment Services Act 2019
  • Changes made to the definition of financial institutions in EP 100

EP 100 (revised on 14 August 2020)

  • To adopt the Final Pronouncements relating to the Restructured Code and Revisions to the Code Pertaining to the Offering and Accepting of Inducements issued by IESBA

EP 100 (revised on 7 July 2021)

  • Revisions to Part 4B of the Code to Reflect Terms and Concepts Used in International Standard on Assurance Engagements 3000 (Revised) (Revisions to Part 4B)
  • Revisions to the Code to Promote the Role and Mindset Expected of Professional Accountants (Role & Mindset).

This workshop qualifies for 7.0 CPE hours in Ethics and Professionalism (Category 2).

Target Audience

Accountants and Auditors 

Expert Speaker

Chee Hay Kheong Daniel

Daniel holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with MNCs, managing their operations in Singapore and Asia.

Daniel is a highly sought-after seminar trainer, and is currently an Adjunct Professor in the School of Business, Singapore University of Social Sciences. Prior to this, he was an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He served as a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).

This is a face-to-face event to be conducted on 16th November 2021.

  • Nov 16
    • Early Bird 15% Discount - Apply Promotional Code: EBF15 $381.99 incl. GST (7%)
    • $449.40 incl. GST (7%)
    Tue, 9:00 AM - Tue, 5:00 PM Hotel Venue to be Advised
    • Early Bird 15% Discount - Apply Promotional Code: EBF15 $381.99 incl. GST (7%)
    • $449.40 incl. GST (7%)
    • PD hours: 7

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