Course Detail(ADT029 : Audit of Financial Instruments - Non Derivatives)

ADT029 : Audit of Financial Instruments - Non Derivatives

3.50 CPE Hours (Category 3)
Classroom


Programme Objective
To provide audit professionals with practical guidance on the audit of financial instruments (non-derivatives) through active discussions, sharing of experiences and reinforcement of key concepts and requirements.

Participants will develop an understanding on:
1) The common audit risk areas and the risk of material misstatement relating to financial instruments
2) The common internal controls processes (nature, extent and timing) over financial instruments, the risks addressed, and implications for planning substantive tests of financial instruments.
3) The common substantive procedures (nature, extent and timing) to audit various assertions related to financial instruments.
4) Evaluation of audit findings and draw appropriate audit conclusions for financial instruments.
5) The key financial statement reporting and disclosure requirements for financial instruments.
 

Programme Outline

  • Overview on audit of Financial Instruments
- Audit Planning and Resources
- Understanding the entity’s business and its environment
- Risk assessment
- Audit procedures
  • Identification and assessment of risks of material misstatement at assertion level for financial instruments, taking into account relevant mitigating internal controls.
  • In-depth discussion on the following selected key audit areas:
- Recognition / De-recognition of Financial Assets
- Classification of Financial Assets
- Measurement
  • Applying the Effective Interest Rate Method
  • Impairment
  • Fair Value Measurement
- Presentation
  • Equity vs liability
  • Offsetting
- Disclosures
  • Key accounting requirements under IFRS 9 / FRS 109.
 
Training Methodology
Lecture style, with practical illustrations, technical flow-charts, knowledge checks and interactive discussions.
 
Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

A Foundation to Intermediate level programme for Audit professionals.

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

04 Nov 2019 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Aylwin How

Date & Time

17 Jul 2019 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Lee Ven How

Date & Time

08 Nov 2018 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Aylwin How

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Aylwin How
Partner | Audit & Assurance | Financial Services
Deloitte & Touche LLP
 
Aylwin has over 14 years of public accounting experience, providing audit and accounting advisory services to various entities, particularly in the financial services sector. He is also a Technical Accounting Partner in the National Professional Practice Department.
 
Aylwin is a member of the Financial Instrument Valuation team, having graduated in 2009 with a MSc Financial Engineering, administered by the Nanyang Technological University of Singapore.
 
Other than audit, he is involved in advising entities on accounting and valuation for complex financial structures and hedging strategies. He is also involved in IFRS conversion projects in Southeast Asia as a lead project manager, which involves review and alignment of chart of accounts for consolidation purposes, as well as development of accounting policy manuals.
 
In his role as a Technical Accounting Partner, he is responsible for providing comments on Exposure Drafts issued by the IASB (including Conceptual Framework, IFRS 9 - impairment, hedge accounting, etc). He speaks at external seminars and gives lectures at local universities on various aspects of accounting (including financial instruments and consolidation/ business combination accounting).
 

Lee Ven How
Partner | Audit & Assurance | Financial Services
Deloitte & Touche LLP
 
Ven How has over 17 years of public accounting experience, providing audit and accounting advisory services to various entities, particularly in the financial services sector. He had spent 4.5 years working in Deloitte New York office and 3 years in technical accounting role within Deloitte.


Other than audit, he is involved in advising entities on the application and accounting of financial instruments standards.

In his technical accounting role, he has advised financial institution clients on US GAAP and IFRS conversion, which involved analysis of accounting differences and application of the IFRSs, development of accounting policy manuals and technical accounting memos as well as conducting training workshops. He also conducted technical update trainings on financial instruments related standards.

 


Programme Objective
To provide audit professionals with practical guidance on the audit of financial instruments (non-derivatives) through active discussions, sharing of experiences and reinforcement of key concepts and requirements.

Participants will develop an understanding on:
1) The common audit risk areas and the risk of material misstatement relating to financial instruments
2) The common internal controls processes (nature, extent and timing) over financial instruments, the risks addressed, and implications for planning substantive tests of financial instruments.
3) The common substantive procedures (nature, extent and timing) to audit various assertions related to financial instruments.
4) Evaluation of audit findings and draw appropriate audit conclusions for financial instruments.
5) The key financial statement reporting and disclosure requirements for financial instruments.
 

Programme Outline

  • Overview on audit of Financial Instruments
- Audit Planning and Resources
- Understanding the entity’s business and its environment
- Risk assessment
- Audit procedures
  • Identification and assessment of risks of material misstatement at assertion level for financial instruments, taking into account relevant mitigating internal controls.
  • In-depth discussion on the following selected key audit areas:
- Recognition / De-recognition of Financial Assets
- Classification of Financial Assets
- Measurement
  • Applying the Effective Interest Rate Method
  • Impairment
  • Fair Value Measurement
- Presentation
  • Equity vs liability
  • Offsetting
- Disclosures
  • Key accounting requirements under IFRS 9 / FRS 109.
 
Training Methodology
Lecture style, with practical illustrations, technical flow-charts, knowledge checks and interactive discussions.
 
Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

A Foundation to Intermediate level programme for Audit professionals.

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Aylwin How
Partner | Audit & Assurance | Financial Services
Deloitte & Touche LLP
 
Aylwin has over 14 years of public accounting experience, providing audit and accounting advisory services to various entities, particularly in the financial services sector. He is also a Technical Accounting Partner in the National Professional Practice Department.
 
Aylwin is a member of the Financial Instrument Valuation team, having graduated in 2009 with a MSc Financial Engineering, administered by the Nanyang Technological University of Singapore.
 
Other than audit, he is involved in advising entities on accounting and valuation for complex financial structures and hedging strategies. He is also involved in IFRS conversion projects in Southeast Asia as a lead project manager, which involves review and alignment of chart of accounts for consolidation purposes, as well as development of accounting policy manuals.
 
In his role as a Technical Accounting Partner, he is responsible for providing comments on Exposure Drafts issued by the IASB (including Conceptual Framework, IFRS 9 - impairment, hedge accounting, etc). He speaks at external seminars and gives lectures at local universities on various aspects of accounting (including financial instruments and consolidation/ business combination accounting).
 
Lee Ven How
Partner | Audit & Assurance | Financial Services
Deloitte & Touche LLP
 
Ven How has over 17 years of public accounting experience, providing audit and accounting advisory services to various entities, particularly in the financial services sector. He had spent 4.5 years working in Deloitte New York office and 3 years in technical accounting role within Deloitte.


Other than audit, he is involved in advising entities on the application and accounting of financial instruments standards.

In his technical accounting role, he has advised financial institution clients on US GAAP and IFRS conversion, which involved analysis of accounting differences and application of the IFRSs, development of accounting policy manuals and technical accounting memos as well as conducting training workshops. He also conducted technical update trainings on financial instruments related standards.

 

Upcoming Schedule

Registration is closed

Date & Time

04 Nov 2019 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Aylwin How

Venue

60 Cecil Street
ISCA House
Singapore 049709