Course Detail(E148v : Ethics Update: Code of Professional Conduct and Ethics for Public Accountants (Live Webinar))

UTAP Funding

E148v : Ethics Update: Code of Professional Conduct and Ethics for Public Accountants (Live Webinar)

3.50 CPE Hours (Category 2)
Live Webinar

Programme Overview

This course is formerly known as ADT070: Ethics Update: Code of Professional Conduct and Ethics for Public Accountants.

Programme Objective

On 29 January 2015, The Accounting and Corporate Regulatory Authority (ACRA) issued the revised Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities (the ACRA Code). The effective date of the ACRA Code will be 1 July 2015.
 The changes to the code will be discussed in relation to the previous code; which from 1 August 2009, Singapore’s public accountants must adhere to an enhanced Code of Professional Conduct and Ethics (the Code). The enhanced Code is based on the Code of Ethics of the International Federation of Accountants (IFAC), a global benchmark for the international accounting profession.
 

Programme Outline

The ACRA code issued in 2015 will be discussed, together with excerpts to the changes made to the previous Code:
  • What are the changes to the existing codes?
  • What are the new requirements?
  • Five fundamental principles
  • Integrity
  • Objectivity
  • Professional competence and due care
  • Confidentiality
  • Professional behavior
  • Five threats affecting compliance with fundamental principles
  • Self-interest threat
  • Self-review threat
  • Advocacy threat
  • Familiarity threat
  • Intimidation threat
Public accountants are required to apply this conceptual framework to identify threats to compliance with the fundamental principles, to evaluate their significance and, if such threats are other than clearly insignificant to apply safeguards to eliminate them or reduce them to an acceptable level such that compliance with the fundamental principles is not compromised. 
 
How to continue to apply the fundamental principles and safeguards to reduce the ethical threats in the following situation (various aspects of these will be discussed, where applicable):
  • Professional appointment, including client acceptance, engagement acceptance, changes in a professional appointment
  • Conflict of interests
  • Second opinion engagements
  • “Lowball” of fees
  • Contingent fees
  • Referral fee and commission
  • Marketing professional accountancy services
  • Gifts and hospitality
  • Custody of client assets
  • Financial interests
  • Loans and guarantees
  • Close business relationships
  • Family and personal relationships
  • Employment with assurance clients
  • Recent service with assurance clients
  • Serving as office or director
  • Long association with assurance client
  • Provision of other services to assurance clients
  • Fee – relative size
  • Fee – overdue
  • Actual or threatened litigation

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

An Intermediate Level programme intended for Veteran public accountants, New Public Accountants and aspiring Public Accountants 

Competency Mapping

Category 2 = 3.50 Hours

Schedule & Fees

Date & Time

15 May 2023 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 177.12
For Non-Members: $ 210.60

Programme Facilitator(s)

Daniel Chee

Venue

Online Classroom in or outside of
Singapore

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.
 
To find out more on the UTAP funding and support validity period please click here.

 
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)


Chee Hay Kheong, Daniel
FCA (Singapore)

 

Daniel is a Fellow Chartered Accountant of Singapore. He holds an Honours degree in Accountancy from the National University of Singapore and was a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with multi-national corporations, managing their operations in Singapore and Asia.

Daniel has served as an adjunct Associate Professor in the department of accounting at the National University of Singapore (NUS), teaching the Audit and Assurance and Advanced Audit and Assurance modules. After NUS, he served as an Adjunct Professor in the accounting department of the Singapore University of Social Sciences (SUSS), teaching the Audit and Assurance module.

Daniel also provided professional training to members of the Institute of Singapore Chartered Accountants (ISCA), the Singapore Institute of Directors (SID), public accounting firms and training providers.

Daniel was formerly a committee member of both the IT Committee and the Examination Committee of ISCA, and was also a committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).
 

Programme Overview

This course is formerly known as ADT070: Ethics Update: Code of Professional Conduct and Ethics for Public Accountants.

Programme Objective

On 29 January 2015, The Accounting and Corporate Regulatory Authority (ACRA) issued the revised Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities (the ACRA Code). The effective date of the ACRA Code will be 1 July 2015.
 The changes to the code will be discussed in relation to the previous code; which from 1 August 2009, Singapore’s public accountants must adhere to an enhanced Code of Professional Conduct and Ethics (the Code). The enhanced Code is based on the Code of Ethics of the International Federation of Accountants (IFAC), a global benchmark for the international accounting profession.
 

Programme Outline

The ACRA code issued in 2015 will be discussed, together with excerpts to the changes made to the previous Code:
  • What are the changes to the existing codes?
  • What are the new requirements?
  • Five fundamental principles
  • Integrity
  • Objectivity
  • Professional competence and due care
  • Confidentiality
  • Professional behavior
  • Five threats affecting compliance with fundamental principles
  • Self-interest threat
  • Self-review threat
  • Advocacy threat
  • Familiarity threat
  • Intimidation threat
Public accountants are required to apply this conceptual framework to identify threats to compliance with the fundamental principles, to evaluate their significance and, if such threats are other than clearly insignificant to apply safeguards to eliminate them or reduce them to an acceptable level such that compliance with the fundamental principles is not compromised. 
 
How to continue to apply the fundamental principles and safeguards to reduce the ethical threats in the following situation (various aspects of these will be discussed, where applicable):
  • Professional appointment, including client acceptance, engagement acceptance, changes in a professional appointment
  • Conflict of interests
  • Second opinion engagements
  • “Lowball” of fees
  • Contingent fees
  • Referral fee and commission
  • Marketing professional accountancy services
  • Gifts and hospitality
  • Custody of client assets
  • Financial interests
  • Loans and guarantees
  • Close business relationships
  • Family and personal relationships
  • Employment with assurance clients
  • Recent service with assurance clients
  • Serving as office or director
  • Long association with assurance client
  • Provision of other services to assurance clients
  • Fee – relative size
  • Fee – overdue
  • Actual or threatened litigation

Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

An Intermediate Level programme intended for Veteran public accountants, New Public Accountants and aspiring Public Accountants 

Competency Mapping

Category 2 = 3.50 Hours

Programme Facilitator(s)

Chee Hay Kheong, Daniel
FCA (Singapore)

 

Daniel is a Fellow Chartered Accountant of Singapore. He holds an Honours degree in Accountancy from the National University of Singapore and was a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with multi-national corporations, managing their operations in Singapore and Asia.

Daniel has served as an adjunct Associate Professor in the department of accounting at the National University of Singapore (NUS), teaching the Audit and Assurance and Advanced Audit and Assurance modules. After NUS, he served as an Adjunct Professor in the accounting department of the Singapore University of Social Sciences (SUSS), teaching the Audit and Assurance module.

Daniel also provided professional training to members of the Institute of Singapore Chartered Accountants (ISCA), the Singapore Institute of Directors (SID), public accounting firms and training providers.

Daniel was formerly a committee member of both the IT Committee and the Examination Committee of ISCA, and was also a committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).
 


Upcoming Schedule

Date & Time

15 May 2023 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 177.12
For Non-Members: $ 210.60

Programme Facilitator(s)

Daniel Chee

Venue

Online Classroom in or outside of
Singapore