Course Detail(ADT027 : Audit of Accounts Payable and Other Payables)

ADT027 : Audit of Accounts Payable and Other Payables

3.50 CPE Hours (Category 3)
Classroom

Programme Objective

To provide audit professionals with guidance on the audit of accounts payable and other payables.

Programme Outline

  • Identify common financial statement misstatements concerning accounts payable and other payables.
  • Develop an understanding of the client’s acquisition and payment processes and related information flows; control policies/procedures over acquisition and payment processes (including monthly accounts payable reconciliation and review procedures); types of documents generated and received; and financial statement accounts affected.
    Identify and assess the risks of material misstatement at assertion level for accounts payable and other payables taking into account relevant mitigating client internal controls.
  • Determine the extent of reliance to place on client internal controls over accounts payable and other payables; plan the nature, extent and timing of tests of controls; conduct and evaluate the results of these tests of controls and assess their implications for substantive tests of accounts payable and other payables.
  • Plan the nature, extent and timing of substantive procedures to test various assertions related to accounts payable and other payables.
  • Understand the use of, and design external confirmations to obtain relevant and reliable audit evidence for accounts payable and other payables.
  • Evaluate the audit test findings and draw appropriate audit conclusions for accounts payable and other payables.


Training Methodology
Lecture style, with Exercises/Case Studies

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

A Foundation to Intermediate level programme intended for Practising and Non-Practising Accounting and Audit Professionals

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

05 Oct 2018 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Raymond Kong

Date & Time

13 Oct 2017 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Raymond Kong

Date & Time

06 Oct 2016 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Raymond Kong

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Raymond Kong
Partner, Assurance
Foo Kon Tan Grant Thornton LLP


Raymond is an Assurance Partner with more than 15 years’ of audit experience. He specialises in the audit of statutory boards, government ministries and Chinese companies listed on the SGX. Upon his graduation with an honours degree from Nanyang Technological University of Singapore, he embarked on his career with a big four accounting firm, honing his auditing skills as his career progressed. His experience also saw him crossing to the other side when he joined the commercial sector before returning to where his passion lies – a practising professional.

Raymond joined Foo Kon Tan Grant Thornton LLP in January 2013. He enjoys working closely with his clients, many of whom are from the privately held listed companies as well as the public sector. His invaluable depth of technical expertise and pragmatic advice to his clients as well as his leadership in managing audit teams stands out. This is evident in his team achieving the Gold Award for Service Excellence Team Award from Temasek Holdings Private Limited, a government linked investment establishment in Singapore for 2 consecutive years.

Programme Objective

To provide audit professionals with guidance on the audit of accounts payable and other payables.

Programme Outline

  • Identify common financial statement misstatements concerning accounts payable and other payables.
  • Develop an understanding of the client’s acquisition and payment processes and related information flows; control policies/procedures over acquisition and payment processes (including monthly accounts payable reconciliation and review procedures); types of documents generated and received; and financial statement accounts affected.
    Identify and assess the risks of material misstatement at assertion level for accounts payable and other payables taking into account relevant mitigating client internal controls.
  • Determine the extent of reliance to place on client internal controls over accounts payable and other payables; plan the nature, extent and timing of tests of controls; conduct and evaluate the results of these tests of controls and assess their implications for substantive tests of accounts payable and other payables.
  • Plan the nature, extent and timing of substantive procedures to test various assertions related to accounts payable and other payables.
  • Understand the use of, and design external confirmations to obtain relevant and reliable audit evidence for accounts payable and other payables.
  • Evaluate the audit test findings and draw appropriate audit conclusions for accounts payable and other payables.


Training Methodology
Lecture style, with Exercises/Case Studies

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

A Foundation to Intermediate level programme intended for Practising and Non-Practising Accounting and Audit Professionals

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Raymond Kong
Partner, Assurance
Foo Kon Tan Grant Thornton LLP


Raymond is an Assurance Partner with more than 15 years’ of audit experience. He specialises in the audit of statutory boards, government ministries and Chinese companies listed on the SGX. Upon his graduation with an honours degree from Nanyang Technological University of Singapore, he embarked on his career with a big four accounting firm, honing his auditing skills as his career progressed. His experience also saw him crossing to the other side when he joined the commercial sector before returning to where his passion lies – a practising professional.

Raymond joined Foo Kon Tan Grant Thornton LLP in January 2013. He enjoys working closely with his clients, many of whom are from the privately held listed companies as well as the public sector. His invaluable depth of technical expertise and pragmatic advice to his clients as well as his leadership in managing audit teams stands out. This is evident in his team achieving the Gold Award for Service Excellence Team Award from Temasek Holdings Private Limited, a government linked investment establishment in Singapore for 2 consecutive years.


Upcoming Schedule

Registration is closed

Date & Time

05 Oct 2018 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Raymond Kong

Venue

60 Cecil Street
ISCA House
Singapore 049709