Course Detail()

This course is pre-approved for Charities Capability Fund (CCF) funding. Please refer to the Funding tab for more details on Eligibility Criteria and Application Procedures.

Programme Objective

Black or white? Or is it a shade of grey? Perhaps, this is how we perceive Conflict of Interest (COI) situations at times, where it is thought-provoking to give a definite viewpoint of how potential COI should be dealt with. The challenge may be intensified by temptation for personal incentives in such COI situations.

At the end of the course, participants will be able to:

Know the impact of Conflict of Interest (COI) on business in the areas of Governance, Risk Management and Compliance
Understand the various types of COI and appreciate the legal and ethical requirements in the management of COI and related parties
Evaluate the risks of COI in various possible scenarios in the Governance and Management of a business and how to mitigate the risks
Understand the various tools and methods available to prevent and detect cases relating to COI and related parties

This course will be beneficial to participants in building their capacity to identify and manage COI situations, especially in cases where they could lead to risk of fraud and corruption, evaluate the adequacy of their organization’s policy on declaration of COI and implement an action plan for the effective management of COI.

Practical examples based on real-life COI case studies and scenarios relating to the participants’ work and business environment will be given to enhance their understanding of the topics covered in the course.

Programme Outline

The course will cover the following topics:

Governance, Risk Management and Compliance (GRC)
Laws, Policies, Standards and SOPs relating to COI
Types of COI and various possible COI scenarios
Audit Observations relating to COI
Tools and Methods to Prevent and Detect cases relating to COI

Outline for each of the 5 topics:
Topic 1: Governance, Risk Management and Compliance (GRC)

Objectives and Scope of a GRC framework
Relationship among the domains in GRC
Examples of GRC frameworks
Definition of Conflict of Interest (COI) and why COI matters from the GRC perspective
Lessons from Past Accounting Scandals and Business Failures due to COI

Topic 2: Laws, Policies, Standards and SOPs relating to COI and Related Parties

Section 156 of Companies Act
Chapter 9 of the SGX Listing Rules
Singapore Financial Reporting Standards (SFRS) No 24
Code of Ethics relating to COI
Internal Guidelines and SOPs
Example of Policy on Declaration of COI
Risk of Fraud and Corruption due to COI
Causes of COI

Topic 3: Types of COI and various possible COI scenarios

Key Principles underlying Management of COI
Types of COI
Chapter 9 of the SGX Listing Rules
Examples of COI scenarios in Procurement and Contracts Administration
Examples of COI scenarios in Financial and IT Management

Topic 4: Audit Observations relating to COI

Report of the Auditor-General’s Office (AGO)
Anatomy of Audit Observations
Analysis of Past Audit Observations relating to COI and Related Parties

Topic 5: Tools and Methods to Prevent and Detect cases relating to COI and Related Parties

Current Industry Best Practices
New Technologies
Application of Data Analytics
Designing Processes and Guidelines to Reduce Likelihood and Impact of COI

Pre-requisites

Please take note of the following admission requirements:

Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
Mandatory for video camera to be turned on throughout the course
Display your official name (as per NRIC) in Zoom, to facilitate attendance taking

Training Methodology

Lecture-based presentation
Quiz
On-line Chat and Q&A
Group Discussion (Breakout Room) and Class Presentation

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

Intended For

Accountants, Auditors, Directors, Finance Managers, Business Executives and officers involved in Governance, Risk Management and Compliance (GRC) activities

Schedule & Fees

Testimonial

Funding

1] CCF Training Grant

Charities Capability Fund (CCF) Training Grant provides co-funding for local training courses to help charities comply with regulatory requirements and build good governance standards.

Period of CCF pre-approval: 15 August 2024 to 13 August 2025

Eligibility Criteria

CCF funding is for eligible charities' staff (who have served in the Charities for at least 6 months with an official designation).

CCF Grants Coverage & Quantum

Funding Quantum

Nett Course Fees Payable (incl. GST)

Singaporeans/ PRs

Member: $233.60

Non-Member: $280.80

(80% of course fee)

Member: $63.66

Non-Member: $76.52

Employment Pass/ Work Permit Holders / S Pass Holders

Member: $174.60

Non-Member: $210.60

(60% of course fee)

Member: $127.31

Non-Member: $153.04

For Pre-approved Courses: Participants will pay the training provider the net course fees (after CCF funding). The training provider will claim the CCF approved funding directly from the CCF Secretariat.

Note:

CCF applications are subject to NCSS approval and only Board members/ staff in key governance and management areas with approved CCF applications are eligible for CCF funding.
The Applicant with approved CCF application (or “CCF-eligible participant”) pays the amount of course fees less CCF funding to ISCA. Payment can be made by corporate/individual means.
The Applicant has to create an ISCA Corporate Account here if they do not have an existing corporate account.

During the Course:

CCF-eligible participant to achieve minimum 75% attendance, and pass all assessments, if any.
All CCF-eligible participants are to complete a CCF Training Evaluation Form at the end of the course.
For course conducted online, CCF-eligible participants are to switch on their video function and display their full name.
All CCF-eligible participants must prepare their mobile phone with their Singpass app to scan their attendance twice a day.

Programme Facilitator(s)