Course Detail(ADT040 : Audit of Cash and Cash Equivalents)

ADT040 : Audit of Cash and Cash Equivalents

3.50 CPE Hours (Category 3)
Classroom

Programme Objective

To provide audit professionals with guidance on the audit of cash and cash equivalents.
 

Programme Outline

  1. Discuss common financial statement misstatements concerning cash and cash equivalents.
  2. Develop an understanding of the entity’s cash management process; control policies/ procedures over the cash management process (including bank reconciliations and use of petty cash).
  3. Identify and assess the risks of material misstatement at assertion level for cash and cash equivalents, taking into account relevant mitigating internal controls.
  4. Consider the fraud risks relating to cash and cash equivalents and its implications on the assessment of the risks of material misstatement.
  5. Determine the extent of reliance to place on internal controls over cash and cash equivalents; 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 cash and cash equivalents.
  6. Plan the nature, extent and timing of substantive procedures to test various assertions related to cash and cash equivalents.
  7. Evaluate the audit findings and draw appropriate audit conclusions for cash and cash equivalents.
  8. Understand the financial statements disclosure requirements for cash and cash equivalents.


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 both Practising and Non-Practising Accountants and Auditors. Those who like to gain more understanding in the Audit of Cash and Cash Equivalents are welcome to attend.

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

20 Sep 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Jason Pang

Date & Time

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

Registration is closed

Programme Facilitator(s)

Jason Pang

Date & Time

15 Sep 2017 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Jason Pang

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Jason Pang
CA Singapore

 
Jason has over 10 years of experience in one of the Big Four accounting firms – Ernst & Young LLP Singapore and the national accountancy body - Institute of Singapore Chartered Accountants (ISCA), Jason is versatile in providing not just audit, but also a broad range of assurance services. He has managed a diversity of clients ranging from small medium enterprises, multi-national corporations to public listed firms. The clients’ portfolio includes construction, manufacturing, trading, retail, telecommunications, shipping, petrochemical, real estate, investment holding, food and beverage, MCST, biotechnology to name a few. These clients primarily have operations in South East Asia, China, the United States of America and Europe.
 
In addition to his audit and assurance experience, Jason was also one of the pioneers in rolling out key quality assurance initiatives to raise audit quality for the auditing profession in Singapore during his tenure with ISCA. In particular, he was involved in developing the first edition of practice guides on Singapore Standard on Quality control 1(SSQC 1) to provide guidance in establishing firm-wide quality controls in public accounting firms. Other than the practice guides, he organised interactive workshops to provide practical advice to the public accountants to implement quality controls. He also authored a series of informative articles in relation to audit quality control published in the IS Chartered Accountant Journals. He has also conducted review of completed audit engagements of public accountants under ISCA’s Quality Assurance Review Programme and provided them with recommendations to address deficiencies.
 
Jason specializes in providing his clients with different types of assurance services which include audit, review, agreed-upon procedures. He also provides consultancy services to public accountants to help them resolve the complex accounting and auditing issues, as well as to improve the audit quality.  

Programme Objective

To provide audit professionals with guidance on the audit of cash and cash equivalents.
 

Programme Outline

  1. Discuss common financial statement misstatements concerning cash and cash equivalents.
  2. Develop an understanding of the entity’s cash management process; control policies/ procedures over the cash management process (including bank reconciliations and use of petty cash).
  3. Identify and assess the risks of material misstatement at assertion level for cash and cash equivalents, taking into account relevant mitigating internal controls.
  4. Consider the fraud risks relating to cash and cash equivalents and its implications on the assessment of the risks of material misstatement.
  5. Determine the extent of reliance to place on internal controls over cash and cash equivalents; 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 cash and cash equivalents.
  6. Plan the nature, extent and timing of substantive procedures to test various assertions related to cash and cash equivalents.
  7. Evaluate the audit findings and draw appropriate audit conclusions for cash and cash equivalents.
  8. Understand the financial statements disclosure requirements for cash and cash equivalents.


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 both Practising and Non-Practising Accountants and Auditors. Those who like to gain more understanding in the Audit of Cash and Cash Equivalents are welcome to attend.

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Jason Pang
CA Singapore

 
Jason has over 10 years of experience in one of the Big Four accounting firms – Ernst & Young LLP Singapore and the national accountancy body - Institute of Singapore Chartered Accountants (ISCA), Jason is versatile in providing not just audit, but also a broad range of assurance services. He has managed a diversity of clients ranging from small medium enterprises, multi-national corporations to public listed firms. The clients’ portfolio includes construction, manufacturing, trading, retail, telecommunications, shipping, petrochemical, real estate, investment holding, food and beverage, MCST, biotechnology to name a few. These clients primarily have operations in South East Asia, China, the United States of America and Europe.
 
In addition to his audit and assurance experience, Jason was also one of the pioneers in rolling out key quality assurance initiatives to raise audit quality for the auditing profession in Singapore during his tenure with ISCA. In particular, he was involved in developing the first edition of practice guides on Singapore Standard on Quality control 1(SSQC 1) to provide guidance in establishing firm-wide quality controls in public accounting firms. Other than the practice guides, he organised interactive workshops to provide practical advice to the public accountants to implement quality controls. He also authored a series of informative articles in relation to audit quality control published in the IS Chartered Accountant Journals. He has also conducted review of completed audit engagements of public accountants under ISCA’s Quality Assurance Review Programme and provided them with recommendations to address deficiencies.
 
Jason specializes in providing his clients with different types of assurance services which include audit, review, agreed-upon procedures. He also provides consultancy services to public accountants to help them resolve the complex accounting and auditing issues, as well as to improve the audit quality.  

Upcoming Schedule

Registration is closed

Date & Time

20 Sep 2019 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Jason Pang

Venue

137 Cecil Street
Level 4
Hengda Building
Singapore 069537