Course Detail(E139 : Ethics Pronouncement (EP) 200 for Professional Accountants in Public Practice)

E139 : Ethics Pronouncement (EP) 200 for Professional Accountants in Public Practice

7.00 CPE Hours (Category 2)
Classroom


Programme Objective
To enable Professional Accountants in Public Practice to understand the requirements and guidelines on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT).

Those who attend this course should have basic understanding of EP200.

For an overview of the EP200, please click here to read up on Ethics Pronouncements and Implementation Guidances.

Programme Outline

1. Introduction & Scope
  • Identify the objectives of EP 200 
  • Know the changes from Statement of Auditing Practice (SAP) 1 to EP 200 
  • Understand the legal obligations and requirements of Professional Accountants (PAs) and Professional Firms (PFs)  
  • Understand the Enhanced Regulatory Framework for Corporate Service Providers (CSPs) 
  • Understand the definition and process of Money Laundering (ML)
  • Know the various types of criminal activities and the motivations for ML 
  • Understand the definition of Terrorism Financing (TF)
  • Identify the similarities & distinguish the differences between ML & TF
  • Identify the characteristics of PAs and CSPs that attract them to ML and TF as targets
2.Reporting & Tipping Off
  • Know the AML and CTF Legislations in Singapore
  • Understand the basic criminal offences under ML and TF legislation
  • Be aware of the 3 main types of offences at risk of being exposed to
  • Recognise the possible ML and TF red flags
  • Understand the circumstances that constitute a need to lodge a Suspicious Transaction Report (STR) 
  • Know the procedures to follow if possible ML is suspected or discovered
3.Systems & Controls
  • Understand the Internal Policies, Procedures and Controls (IPPC) required to tackle ML & TF 
  • Identify the factors that determine the type and extent of IPPC
  • Understand the risk-based approach to AML and CFT system
  • Be aware of the sanction lists that the Professional firms should screen against
  • Assess the risk to determine the level of Client Due Diligence (CDD) to be applied
4.Client Due Diligence (CDD) & Records Keeping
  • Distinguish the differences among simplified, normal and enhanced CDD
  • Understand who is beneficial owners
  • How to apply CDD measures for existing clients
  • Understand the vulnerabilities of charities clients to ML and TF
  • Illustration for CDD process under different scenarios
  • Understand the need for ongoing monitoring
  • Know the requirements for book keeping
5. Reporting, Training, Compliance, Hiring & Audit
  • Know the various measures that PFs can implement
6. Recap
  • Risks to PAs and PFs
  • Protection from ML and TF
7.Frequently Asked Questions


Training Methodology

Lecture style, with Exercises/Case Studies


Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

An Intermediate level programme intended for Practitioners and Audit Managers working in SMPs.  Junior Auditors who wish to attend this course should have basic understanding of EP200. For an overview of the EP200, please read up on Ethics Pronouncements and Implementation Guidances.

Competency Mapping

Category 2 = 7.00 Hours

Schedule & Fees

Date & Time

12 Apr 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Luar Eng Hwa

Date & Time

15 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Luar Eng Hwa

Date & Time

16 Jul 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Pong Siew Inn

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Luar Eng Hwa

Mr Luar has more than 28 years of experience in areas concerning accounting, auditing, fraud examination and investigation, corporate secretarial practice, and tax compliance and advisory services in Singapore and overseas. As a business consultant, he renders advisory services to corporations and assists them in their preparation for IPO in Singapore and elsewhere, and is active in corporate restructuring, investment decisions, due diligence and feasibility studies for companies resulting from his client’s business expansion.

 
Mr Luar started his professional career with an International Accounting Firm in 1983 and subsequently with medium-sized local accounting practices, providing assurance, advisory, tax compliance and tax advisory services to a mixed portfolio of clients. Mr Luar is the founder of E H Luar & Co, established in 1999, and a partner in Alliance Practice LLP, which deliver a full range of professional services tailored to the needs of both private sector business and public interest entities. He also acts as the Chairman of Audit Committee, Advisor to a large charitable organisation and independent director for several privately owned fund-investments companies listed in overseas stock exchange.
 
Mr Luar qualifies as a Chartered Certified Accountant since 1995 and is a Fellow in the Association of Chartered Certified Accountants in London. He is also a practising member of the Institute of Singapore Chartered Accountants.


Pong Siew Inn
CA Singapore
Partner of Assurance and Business Outprocessing
PKF-CAP LLP


Siew Inn is audit partner cum head of Business Solutions Division of PKF-CAP Singapore, a member of PKF International network of legally independent accounting firm.  Siew Inn has a diversified portfolio of clients which include SMEs and MNCs. She has more than 20 years’ experience in rendering various services in the accountancy and compliance industry.

 
She was previously with two of the biggest accounting firms providing assurance, accounting and advisory services to clients from a wide-range of industry.  Siew Inn has also been involved in special purpose engagements such as IPO reporting accountants’ work, business advisory and financial due diligence. 
 
Besides her stint with professional practice, Siew Inn has previously gained hands on commercial experience by spending some years as regional finance head for multinational flavour and fragrance manufacturer and as CFO of a local listed company, coordinating and executing all financial related activities for her Companies, directing the financial and accounting strategies, policies and practices of the Asia Pacific region.  
 


Programme Objective
To enable Professional Accountants in Public Practice to understand the requirements and guidelines on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT).

Those who attend this course should have basic understanding of EP200.

For an overview of the EP200, please click here to read up on Ethics Pronouncements and Implementation Guidances.

Programme Outline

1. Introduction & Scope
  • Identify the objectives of EP 200 
  • Know the changes from Statement of Auditing Practice (SAP) 1 to EP 200 
  • Understand the legal obligations and requirements of Professional Accountants (PAs) and Professional Firms (PFs)  
  • Understand the Enhanced Regulatory Framework for Corporate Service Providers (CSPs) 
  • Understand the definition and process of Money Laundering (ML)
  • Know the various types of criminal activities and the motivations for ML 
  • Understand the definition of Terrorism Financing (TF)
  • Identify the similarities & distinguish the differences between ML & TF
  • Identify the characteristics of PAs and CSPs that attract them to ML and TF as targets
2.Reporting & Tipping Off
  • Know the AML and CTF Legislations in Singapore
  • Understand the basic criminal offences under ML and TF legislation
  • Be aware of the 3 main types of offences at risk of being exposed to
  • Recognise the possible ML and TF red flags
  • Understand the circumstances that constitute a need to lodge a Suspicious Transaction Report (STR) 
  • Know the procedures to follow if possible ML is suspected or discovered
3.Systems & Controls
  • Understand the Internal Policies, Procedures and Controls (IPPC) required to tackle ML & TF 
  • Identify the factors that determine the type and extent of IPPC
  • Understand the risk-based approach to AML and CFT system
  • Be aware of the sanction lists that the Professional firms should screen against
  • Assess the risk to determine the level of Client Due Diligence (CDD) to be applied
4.Client Due Diligence (CDD) & Records Keeping
  • Distinguish the differences among simplified, normal and enhanced CDD
  • Understand who is beneficial owners
  • How to apply CDD measures for existing clients
  • Understand the vulnerabilities of charities clients to ML and TF
  • Illustration for CDD process under different scenarios
  • Understand the need for ongoing monitoring
  • Know the requirements for book keeping
5. Reporting, Training, Compliance, Hiring & Audit
  • Know the various measures that PFs can implement
6. Recap
  • Risks to PAs and PFs
  • Protection from ML and TF
7.Frequently Asked Questions


Training Methodology

Lecture style, with Exercises/Case Studies


Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

An Intermediate level programme intended for Practitioners and Audit Managers working in SMPs.  Junior Auditors who wish to attend this course should have basic understanding of EP200. For an overview of the EP200, please read up on Ethics Pronouncements and Implementation Guidances.

Competency Mapping

Category 2 = 7.00 Hours

Programme Facilitator(s)

Luar Eng Hwa

Mr Luar has more than 28 years of experience in areas concerning accounting, auditing, fraud examination and investigation, corporate secretarial practice, and tax compliance and advisory services in Singapore and overseas. As a business consultant, he renders advisory services to corporations and assists them in their preparation for IPO in Singapore and elsewhere, and is active in corporate restructuring, investment decisions, due diligence and feasibility studies for companies resulting from his client’s business expansion.

 
Mr Luar started his professional career with an International Accounting Firm in 1983 and subsequently with medium-sized local accounting practices, providing assurance, advisory, tax compliance and tax advisory services to a mixed portfolio of clients. Mr Luar is the founder of E H Luar & Co, established in 1999, and a partner in Alliance Practice LLP, which deliver a full range of professional services tailored to the needs of both private sector business and public interest entities. He also acts as the Chairman of Audit Committee, Advisor to a large charitable organisation and independent director for several privately owned fund-investments companies listed in overseas stock exchange.
 
Mr Luar qualifies as a Chartered Certified Accountant since 1995 and is a Fellow in the Association of Chartered Certified Accountants in London. He is also a practising member of the Institute of Singapore Chartered Accountants.

Pong Siew Inn
CA Singapore
Partner of Assurance and Business Outprocessing
PKF-CAP LLP


Siew Inn is audit partner cum head of Business Solutions Division of PKF-CAP Singapore, a member of PKF International network of legally independent accounting firm.  Siew Inn has a diversified portfolio of clients which include SMEs and MNCs. She has more than 20 years’ experience in rendering various services in the accountancy and compliance industry.

 
She was previously with two of the biggest accounting firms providing assurance, accounting and advisory services to clients from a wide-range of industry.  Siew Inn has also been involved in special purpose engagements such as IPO reporting accountants’ work, business advisory and financial due diligence. 
 
Besides her stint with professional practice, Siew Inn has previously gained hands on commercial experience by spending some years as regional finance head for multinational flavour and fragrance manufacturer and as CFO of a local listed company, coordinating and executing all financial related activities for her Companies, directing the financial and accounting strategies, policies and practices of the Asia Pacific region.  
 

Upcoming Schedule

Registration is closed

Date & Time

12 Apr 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 329.56
For Non-Members: $ 398.04

Programme Facilitator(s)

Luar Eng Hwa

Venue

60 Cecil Street
ISCA House
Singapore 049709