Course Detail()

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

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.

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)