Technical Updates for Accountants and Auditors

Description

This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please select accordingly at registration.

This workshop aims to provide an all-round update on important standards and pronouncements for professional accountants, including updates in selected Accounting Standards, Auditing Standards and the Code of Ethics.

Programme Outline

Accounting Standards

• New FRS 118 – Presentation and Disclosure in Financial Statements
• Effective date: 1 January 2027
• The new FRS 118 will replace FRS 1 – Presentation of Financial Statements
• Amendments to FRS 21 – Lack of Exchangeability
• Effective date: 1 January 2025
• Amendments to FRS 109 – Amendments to the Classification and Measurement of Financial Instruments
• Effective date: 1 January 2026
• Settlement by electronic payments
• Financial assets with ESG linked features

Auditing Standards

• SSA 600 (Revised) – Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors)
• Effective date: 15 December 2023
• ISCA Audit Bulletin 6 – Key Revisions to Group Audits – SSA 600 (Revised)
• Issue date: October 2024
• ISCA Audit Bulletin 4 – Non-Consolidation of Subsidiaries – Considerations for the Auditor’s Report
• Issue date: April 2024

Code of Ethics

• Public Interest Entities Final Pronouncement
• Technology related Final Pronouncement
• Effective date: 15 December 2024

Practical cases and examples will be used to illustrate the various technical updates.

This workshop qualifies for :

• 3.0 CPE hours in Financial and Sustainability Reporting Standards and Pronouncements (Category 1);
• 2.0 CPE hours in Ethics and Professionalism (Category 2) ;and
• 2.0 CPE hours in Auditing and Assurance Standards, Pronouncements and Methodology (Category 3).

 

What you will learn

• Stay updated and be prepared for the upcoming Accounting updates
• Be updated on the Auditing updates that will have implications in your audit engagements in 2025
• Understand the updates in the Code of Ethics to stay compliant with ethical requirements

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 15 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. He was an Adjunct Professor in the School of Business, Singapore University of Social Sciences and 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).