Course Detail(ADT148 : ISCA Practitioner’s Tech Lab 02/2018 – Audit of Inventories and Trade Receivables: Common pitfalls and how to overcome them)

ADT148 : ISCA Practitioner’s Tech Lab 02/2018 – Audit of Inventories and Trade Receivables: Common pitfalls and how to overcome them NEW

3.50 CPE Hours (Category 3)
Classroom


IMPORTANT NOTICE TO PARTICIPANTS (PLEASE READ BEFORE REGISTERING)

This course is suitable for Public Accountants (i.e. CA Singapore with Certificate for Practice). Upon successful enrolment, no refunds will be entertained.

Programme Objective

The objective of the ISCA Practitioner’s Tech Lab is to provide a platform for Public Accountants to share and discuss technical issues among themselves in a focus group discussion setting moderated by an experienced facilitator, with the aim of improving the quality of audit. Participants will get to exchange views with peers and learn in an informal setting. The ISCA Practitioner’s Tech Lab includes a bite-sized presentation on key areas relating to the topic along with some important insights. It is highly interactive with many opportunities for discussions. Case studies will also be used to reinforce the concepts and demonstrate applications in practice.

To benefit from the ISCA Practitioner’s Tech Lab, participants are encouraged to submit questions relating to the topic to auditquality@isca.org.sg for the facilitator’s preparation prior to the programme.

Programme Outline

This ISCA Practitioner’s Tech Lab will focus on the common pitfalls in the audit of inventories and trade receivables, and how to overcome them.

According to ACRA’s Practice Monitoring Programme (PMP) reports and ISCA’s Quality Assurance Reviews (QAR) in recent years, findings in the audit of inventories and trade receivables have been a recurring theme. These include deficiencies in testing of the existence and valuation assertions of inventories and trade receivables.

What are some challenges faced in the audit of inventories and trade receivables? What are the possible solutions to address the common pitfalls? What are the factors to consider when assessing the adequacy and reasonableness of allowance for inventories obsolescence and allowance for doubtful debts? It is important that the testing of inventories and trade receivables are tailored effectively to adequately address the assessed risks of material misstatement.    

Sign up for the ISCA Practitioner’s Tech Lab to share your experience and learn from other fellow Public Accountants.
 
Training Methodology
 
The ISCA Practitioner’s Tech Lab is a discussion-based session with bite-sized presentation on key areas relating to the topic. Participants are expected to raise questions and share their concerns or issues faced relating to the topic.
 
Closing Date for Registration
 
1 week before programme or until full enrolment

Intended For

Public Accountants (i.e. CA Singapore with Certificate for Practice)

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

28 Mar 2018 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Mona Low

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Mona Low
Managing Partner of Low, Yap & Associates


Ms. Low has more than 30 years of working experience. She oversees the operations of her firm and is actively involved in certain audit assignments and assisting clients in various aspects of mergers and acquisition transactions, both in Singapore as well as overseas.
 
Ms. Low started her career as an auditor in New Zealand and Singapore with a couple of the then big 8 accounting firms. She then joined an oil major in Singapore. Ms. Low returned to public accounting as an audit manager with another big accounting firm where she was admitted into partnership. Ms. Low was responsible for co-ordinating the services rendered by the various departments of the firm to her portfolio of clients. Clients whom she serviced included major international oil companies and major manufacturing, high tech, engineering and trading companies.
 
Ms. Low is a practising member of the Institute of Singapore Chartered Accountants and a member of the New Zealand Society of Accountants. She is a member of the Institute of Chartered Secretaries and Administrators, London, United Kingdom. She is also a member of the Institute of Internal Auditors.


IMPORTANT NOTICE TO PARTICIPANTS (PLEASE READ BEFORE REGISTERING)

This course is suitable for Public Accountants (i.e. CA Singapore with Certificate for Practice). Upon successful enrolment, no refunds will be entertained.

Programme Objective

The objective of the ISCA Practitioner’s Tech Lab is to provide a platform for Public Accountants to share and discuss technical issues among themselves in a focus group discussion setting moderated by an experienced facilitator, with the aim of improving the quality of audit. Participants will get to exchange views with peers and learn in an informal setting. The ISCA Practitioner’s Tech Lab includes a bite-sized presentation on key areas relating to the topic along with some important insights. It is highly interactive with many opportunities for discussions. Case studies will also be used to reinforce the concepts and demonstrate applications in practice.

To benefit from the ISCA Practitioner’s Tech Lab, participants are encouraged to submit questions relating to the topic to auditquality@isca.org.sg for the facilitator’s preparation prior to the programme.

Programme Outline

This ISCA Practitioner’s Tech Lab will focus on the common pitfalls in the audit of inventories and trade receivables, and how to overcome them.

According to ACRA’s Practice Monitoring Programme (PMP) reports and ISCA’s Quality Assurance Reviews (QAR) in recent years, findings in the audit of inventories and trade receivables have been a recurring theme. These include deficiencies in testing of the existence and valuation assertions of inventories and trade receivables.

What are some challenges faced in the audit of inventories and trade receivables? What are the possible solutions to address the common pitfalls? What are the factors to consider when assessing the adequacy and reasonableness of allowance for inventories obsolescence and allowance for doubtful debts? It is important that the testing of inventories and trade receivables are tailored effectively to adequately address the assessed risks of material misstatement.    

Sign up for the ISCA Practitioner’s Tech Lab to share your experience and learn from other fellow Public Accountants.
 
Training Methodology
 
The ISCA Practitioner’s Tech Lab is a discussion-based session with bite-sized presentation on key areas relating to the topic. Participants are expected to raise questions and share their concerns or issues faced relating to the topic.
 
Closing Date for Registration
 
1 week before programme or until full enrolment

Intended For

Public Accountants (i.e. CA Singapore with Certificate for Practice)

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Mona Low
Managing Partner of Low, Yap & Associates


Ms. Low has more than 30 years of working experience. She oversees the operations of her firm and is actively involved in certain audit assignments and assisting clients in various aspects of mergers and acquisition transactions, both in Singapore as well as overseas.
 
Ms. Low started her career as an auditor in New Zealand and Singapore with a couple of the then big 8 accounting firms. She then joined an oil major in Singapore. Ms. Low returned to public accounting as an audit manager with another big accounting firm where she was admitted into partnership. Ms. Low was responsible for co-ordinating the services rendered by the various departments of the firm to her portfolio of clients. Clients whom she serviced included major international oil companies and major manufacturing, high tech, engineering and trading companies.
 
Ms. Low is a practising member of the Institute of Singapore Chartered Accountants and a member of the New Zealand Society of Accountants. She is a member of the Institute of Chartered Secretaries and Administrators, London, United Kingdom. She is also a member of the Institute of Internal Auditors.

Upcoming Schedule

Registration is closed

Date & Time

28 Mar 2018 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 199.02
For Non-Members: $ 237.54

Programme Facilitator(s)

Mona Low

Venue

60 Cecil Street
ISCA House
Singapore 049709