Course Detail(ADT047 : Audit of Accounts Receivable and Other Receivables)

ADT047 : Audit of Accounts Receivable and Other Receivables

3.50 CPE Hours (Category 3)
Classroom

Programme Objective

To provide audit professionals with guidance on the audit of accounts receivable and other receivables.

Programme Outline

  • Identify common financial statement misstatements involving accounts receivable and other receivables.
  • Develop an understanding of the client’s revenue recognition policies, credit granting procedures and policies, sales discount and return policies, monthly statement preparation and review procedures, controls over the collection process, and procedures and policies for the write-off of uncollectible accounts receivable.
  • Identify and assess the risks of material misstatement at assertion level for accounts receivable and other receivables taking into account relevant mitigating client internal controls.
  • Determine the extent of reliance to place on client internal controls over accounts receivable and other receivables; 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 receivable and other receivables.
  • Plan the nature, extent and timing of substantive procedures for various assertions related to accounts receivable and other receivables.
  • Understand the use and design use of external confirmations to obtain relevant and reliable audit evidence for accounts receivable and other receivables.
  • Evaluate the audit test findings and draw appropriate audit conclusions for accounts receivable and other receivables.


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 Accounting and Audit professionals.

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

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

Registration is closed

Programme Facilitator(s)

Magdalene Ang

Date & Time

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

Registration is closed

Programme Facilitator(s)

Magdalene Ang

Date & Time

06 Nov 2017 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Magdalene Ang

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Magdalene Ang 

Magdalene is a Partner in a local accounting firm with over 14 years of professional experience. She has been involved in audit, internal audit, and special engagements such as Initial Public Offering, Reverse Take Over reporting accountant works and Due Diligence exercise. She has served clients ranging from small and medium enterprises to Singapore Listed Companies, and Multinational Corporations (MNC).

Magdalene went on to join an US MNC in 2011 where she oversees the tax planning, credit control and cash flow management of the Group’s operations in Singapore, Malaysia, China, Indonesia and India. In 2012, Magdalene joined the Institute of Singapore Chartered Accountants (“ISCA”) where her role includes the launched of ISCA’s inaugural Quality Assurance Review Seminar (2013), the Quality Assurance Review Programme (2012), and Technical Clinics (2012). She also contributes monthly articles to ISCA Journal on audit related topics such as Inventories, Related Parties and many more based on the monthly technical clinics conducted, in a Q&A format targeted for auditors, in particular those from the small and medium-sized practices.

Currently, Magdalene conducts regular training for external organization mainly on audit and financial reporting topics.  She also provides training and consultancy services for local accounting firm.  Magdalene is also a regular workshop facilitator and exam marker for the Singapore Qualification Programme on the Financial Reporting Module.

Magdalene is a Chartered Accountants (Practising) (Singapore) and a Fellow Chartered Certified Accountant (“FCCA”).
 

Programme Objective

To provide audit professionals with guidance on the audit of accounts receivable and other receivables.

Programme Outline

  • Identify common financial statement misstatements involving accounts receivable and other receivables.
  • Develop an understanding of the client’s revenue recognition policies, credit granting procedures and policies, sales discount and return policies, monthly statement preparation and review procedures, controls over the collection process, and procedures and policies for the write-off of uncollectible accounts receivable.
  • Identify and assess the risks of material misstatement at assertion level for accounts receivable and other receivables taking into account relevant mitigating client internal controls.
  • Determine the extent of reliance to place on client internal controls over accounts receivable and other receivables; 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 receivable and other receivables.
  • Plan the nature, extent and timing of substantive procedures for various assertions related to accounts receivable and other receivables.
  • Understand the use and design use of external confirmations to obtain relevant and reliable audit evidence for accounts receivable and other receivables.
  • Evaluate the audit test findings and draw appropriate audit conclusions for accounts receivable and other receivables.


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 Accounting and Audit professionals.

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Magdalene Ang 

Magdalene is a Partner in a local accounting firm with over 14 years of professional experience. She has been involved in audit, internal audit, and special engagements such as Initial Public Offering, Reverse Take Over reporting accountant works and Due Diligence exercise. She has served clients ranging from small and medium enterprises to Singapore Listed Companies, and Multinational Corporations (MNC).

Magdalene went on to join an US MNC in 2011 where she oversees the tax planning, credit control and cash flow management of the Group’s operations in Singapore, Malaysia, China, Indonesia and India. In 2012, Magdalene joined the Institute of Singapore Chartered Accountants (“ISCA”) where her role includes the launched of ISCA’s inaugural Quality Assurance Review Seminar (2013), the Quality Assurance Review Programme (2012), and Technical Clinics (2012). She also contributes monthly articles to ISCA Journal on audit related topics such as Inventories, Related Parties and many more based on the monthly technical clinics conducted, in a Q&A format targeted for auditors, in particular those from the small and medium-sized practices.

Currently, Magdalene conducts regular training for external organization mainly on audit and financial reporting topics.  She also provides training and consultancy services for local accounting firm.  Magdalene is also a regular workshop facilitator and exam marker for the Singapore Qualification Programme on the Financial Reporting Module.

Magdalene is a Chartered Accountants (Practising) (Singapore) and a Fellow Chartered Certified Accountant (“FCCA”).
 

Upcoming Schedule

Registration is closed

Date & Time

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

Fee (inclusive of GST)

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

Programme Facilitator(s)

Magdalene Ang

Venue

137 Cecil Street
Level 4
Hengda Building
Singapore 069537