Course Detail()
Not Available

UTAP Funding

7.00 CPE Hours (Category 1, Category 2, Category 3, Category 4, Others)
Classroom

Programme Objective

To provide audit professional with guidance on the integrated audit and Internal Control Testing under SOX and PCAOB Audit Standard 2201 - An Audit of Internal Control over Financial Reporting that is integrated with an Audit of Financial Statements. This course is also helpful for control approach to audit of financial statements for local listed companies, MNCs, charities and SMEs clients.

Programme Outline

  • Overview of change of codification of PCAOB audit standards
  • Overview of SOX audit requirements and ISCA’s Audit Guidance Statement (AGS 9)
  • Practical guidance on COSO framework
  • Auditors responsibility under Audit Standard 2201 (formerly known as AS 5)
  • Discuss key concepts/provisions of Auditing Standard 2201-An Audit of Internal Control over Financial Reporting that is Integrated with an Audit of Financial Statements
    • Integrating the audit
    • Planning the audit
    • Role of risk assessment
    • Scaling the audit
    • Addressing the risk of fraud
    • Using the work of others
    • Materiality
    • Using a top-down approach
    • Identifying entity-level controls
    • Identifying significant accounts and disclosures and their relevant assertions
    • Understanding likely sources of misstatements
    • Selecting controls to test
    • Testing control (testing design effectiveness and testing operating effectiveness)
    • Relationship of risk to the evidence to be obtained
    • Special consideration for subsequent years audits
    • Evaluating identified deficiencies
    • Indicators of material weaknesses
    • Forming an opinion
    • Obtaining written representation
    • Communicating matters with management and group auditors
    • Reporting
    • Material weaknesses
    • Subsequent event
  • Practical guidance in relation to working with group auditors in the US​​
  • Practical guidance on typical controls for the following cycles
    • Property, Plant & Equipment
    • Revenue and receipt cycle
    • Purchase and payable cycle
    • Payroll cycle
    • Financial Reporting Close Processes (FRCP)
    • Tax
  • Discuss certain PCAOB’s observations on the internal control testing

 

Training Methodology
Lecture style, with exercise/case studies

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

Intended For

A foundation to Intermediate level programme intended for Practicing and non-Practising accountants and auditors. Senior audit professional who like to understand more about the issue involved in the audit of US listed entities and also audit of Singapore’s Statutory boards.

Schedule & Fees

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2022. *This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2021 – 31 March 2022.
 
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends.

To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

Programme Facilitator(s)

Programme Objective

To provide audit professional with guidance on the integrated audit and Internal Control Testing under SOX and PCAOB Audit Standard 2201 - An Audit of Internal Control over Financial Reporting that is integrated with an Audit of Financial Statements. This course is also helpful for control approach to audit of financial statements for local listed companies, MNCs, charities and SMEs clients.

Programme Outline

  • Overview of change of codification of PCAOB audit standards
  • Overview of SOX audit requirements and ISCA’s Audit Guidance Statement (AGS 9)
  • Practical guidance on COSO framework
  • Auditors responsibility under Audit Standard 2201 (formerly known as AS 5)
  • Discuss key concepts/provisions of Auditing Standard 2201-An Audit of Internal Control over Financial Reporting that is Integrated with an Audit of Financial Statements
    • Integrating the audit
    • Planning the audit
    • Role of risk assessment
    • Scaling the audit
    • Addressing the risk of fraud
    • Using the work of others
    • Materiality
    • Using a top-down approach
    • Identifying entity-level controls
    • Identifying significant accounts and disclosures and their relevant assertions
    • Understanding likely sources of misstatements
    • Selecting controls to test
    • Testing control (testing design effectiveness and testing operating effectiveness)
    • Relationship of risk to the evidence to be obtained
    • Special consideration for subsequent years audits
    • Evaluating identified deficiencies
    • Indicators of material weaknesses
    • Forming an opinion
    • Obtaining written representation
    • Communicating matters with management and group auditors
    • Reporting
    • Material weaknesses
    • Subsequent event
  • Practical guidance in relation to working with group auditors in the US​​
  • Practical guidance on typical controls for the following cycles
    • Property, Plant & Equipment
    • Revenue and receipt cycle
    • Purchase and payable cycle
    • Payroll cycle
    • Financial Reporting Close Processes (FRCP)
    • Tax
  • Discuss certain PCAOB’s observations on the internal control testing

 

Training Methodology
Lecture style, with exercise/case studies

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

Intended For

A foundation to Intermediate level programme intended for Practicing and non-Practising accountants and auditors. Senior audit professional who like to understand more about the issue involved in the audit of US listed entities and also audit of Singapore’s Statutory boards.

Programme Facilitator(s)


No course instances or course instance sessions available.