In its collaboration with ACRA, ISCA’s FSRC reviews selected audited financial statements of listed companies under ACRA’s FRSP, with the objectives of enhancing the quality of financial reporting and promoting the best practices in Singapore.
On 14 July 2020, ACRA has issued its latest report on the key findings from the third review cycle of the Financial Reporting Surveillance Programme. The report includes the material accounting breaches found and the resulting regulatory outcomes. During this review cycle, ACRA and ISCA’s FSRC have also obtained the support from the FRSP Committee of Institute of Valuers & Appraisers Singapore (IVAS) when dealing with complex valuation issues.
With this in mind, ISCA has organised this webinar to provide an excellent opportunity for directors, CFOs, finance teams, valuers and public accountants to hear and participate in the discussions with subject-matter experts and regulators, who will share their insights and strategies to achieve compliance with accounting standards.
Below are some key highlights of the ISCA FSRC Webinar 2020:
- Sharing by ACRA on the material accounting breaches found and case studies developed from real-life cases
- Sharing by IVAS FRSP on the common pitfalls in business valuation
- Sharing by ISCA’s FSRC on practical tips to identify and address red flags in financial statements
- Opportunity to bring forth your questions for our experts’ deliberation
We would like to invite you to join this webinar, which will be held on 16 September 2020. Join our distinguished line-up of speakers comprising subject-matter experts and regulators as they share their insights on the above topics.
Programme Outline
| Duration | Event |
9.00 am – 9.05 am
(5 minutes) | Welcome Address
Mr James Xu, Chairman of ISCA FSRC; Partner, Deloitte & Touche LLP
|
9.05 am – 9.45 am
(40 minutes)
| Presentation 1: Findings from ACRA’s FRSP
Ms Bong Yap Kim, Divisional Director, Financial Reporting Division, ACRA
Mr Adrian Teng, Principal Compliance Manager, Financial Reporting Surveillance Department, ACRA
ACRA has completed the third review cycle of the FRSP with the support from ISCA FSRC. Hear from ACRA officers about the material accounting breaches found, the resulting regulatory outcomes and some case studies illustrated in the report.
|
9.45 am – 10.10 am
(25 minutes) | Presentation 2: Insights into Business Valuation
Mr Andre Toh, Deputy Chairman of Institute of Valuers & Appraisers Singapore (IVAS) FRSP Committee; Partner, Ernst & Young Solutions LLP
According to a recent Business Times article, mergers and acquisitions (M&As) have fallen by 22.4% from Q1 2019 to US$10.2 billion in Q1 2020 as a result of the COVID-19 outbreak. Despite this, the value of the M&A deals remain high and analysts expect M&A deals to pick up in the second half of 2020. With M&As getting larger in scale, valuations of businesses have become more complex and errors in valuations could have a significant impact on decisions based on an entity’s value. In this session, Mr Toh will be highlighting key judgemental and challenging areas to take note of as well as sharing on common pitfalls to avoid in business valuations.
|
10.10 am – 10.20 am
(10 minutes)
| Break
|
10.20 am – 10.45 am
(25 minutes)
| Presentation 3: Through the Reviewer’s Eyes
Ms Yvonne Chiu, Deputy Chairperson of ISCA FSRC; Partner, KPMG LLP
How should companies respond when they are being selected for review by ACRA? How should companies identify the red flags in the financial statements? Ms Chiu will be sharing insights on how you can identify and address these issues.
|
10.45 am – 11.15 am
(30 minutes) | Question and Answer Session
Below is our line-up of subject-matter experts to address questions from participants:- Mr James Xu (Moderator)
- Ms Bong Yap Kim
- Ms Yvonne Chiu
- Mr Andre Toh
|
Training Methodology
Presentation style with each of the speakers taking turns to present. There will be a Q&A session after all the presentations during which the speakers will address any pertinent questions from the audience arising from the earlier presentations.
Closing Date for Registration
1 week before programme
Intended For
Both PAIPPs and PAIBs
Schedule & Fees
Testimonial
Funding
No funding Available!
Programme Facilitator(s)
In its collaboration with ACRA, ISCA’s FSRC reviews selected audited financial statements of listed companies under ACRA’s FRSP, with the objectives of enhancing the quality of financial reporting and promoting the best practices in Singapore.
On 14 July 2020, ACRA has issued its latest report on the key findings from the third review cycle of the Financial Reporting Surveillance Programme. The report includes the material accounting breaches found and the resulting regulatory outcomes. During this review cycle, ACRA and ISCA’s FSRC have also obtained the support from the FRSP Committee of Institute of Valuers & Appraisers Singapore (IVAS) when dealing with complex valuation issues.
With this in mind, ISCA has organised this webinar to provide an excellent opportunity for directors, CFOs, finance teams, valuers and public accountants to hear and participate in the discussions with subject-matter experts and regulators, who will share their insights and strategies to achieve compliance with accounting standards.
Below are some key highlights of the ISCA FSRC Webinar 2020:
- Sharing by ACRA on the material accounting breaches found and case studies developed from real-life cases
- Sharing by IVAS FRSP on the common pitfalls in business valuation
- Sharing by ISCA’s FSRC on practical tips to identify and address red flags in financial statements
- Opportunity to bring forth your questions for our experts’ deliberation
We would like to invite you to join this webinar, which will be held on 16 September 2020. Join our distinguished line-up of speakers comprising subject-matter experts and regulators as they share their insights on the above topics.
Programme Outline
| Duration | Event |
9.00 am – 9.05 am
(5 minutes) | Welcome Address
Mr James Xu, Chairman of ISCA FSRC; Partner, Deloitte & Touche LLP
|
9.05 am – 9.45 am
(40 minutes)
| Presentation 1: Findings from ACRA’s FRSP
Ms Bong Yap Kim, Divisional Director, Financial Reporting Division, ACRA
Mr Adrian Teng, Principal Compliance Manager, Financial Reporting Surveillance Department, ACRA
ACRA has completed the third review cycle of the FRSP with the support from ISCA FSRC. Hear from ACRA officers about the material accounting breaches found, the resulting regulatory outcomes and some case studies illustrated in the report.
|
9.45 am – 10.10 am
(25 minutes) | Presentation 2: Insights into Business Valuation
Mr Andre Toh, Deputy Chairman of Institute of Valuers & Appraisers Singapore (IVAS) FRSP Committee; Partner, Ernst & Young Solutions LLP
According to a recent Business Times article, mergers and acquisitions (M&As) have fallen by 22.4% from Q1 2019 to US$10.2 billion in Q1 2020 as a result of the COVID-19 outbreak. Despite this, the value of the M&A deals remain high and analysts expect M&A deals to pick up in the second half of 2020. With M&As getting larger in scale, valuations of businesses have become more complex and errors in valuations could have a significant impact on decisions based on an entity’s value. In this session, Mr Toh will be highlighting key judgemental and challenging areas to take note of as well as sharing on common pitfalls to avoid in business valuations.
|
10.10 am – 10.20 am
(10 minutes)
| Break
|
10.20 am – 10.45 am
(25 minutes)
| Presentation 3: Through the Reviewer’s Eyes
Ms Yvonne Chiu, Deputy Chairperson of ISCA FSRC; Partner, KPMG LLP
How should companies respond when they are being selected for review by ACRA? How should companies identify the red flags in the financial statements? Ms Chiu will be sharing insights on how you can identify and address these issues.
|
10.45 am – 11.15 am
(30 minutes) | Question and Answer Session
Below is our line-up of subject-matter experts to address questions from participants:- Mr James Xu (Moderator)
- Ms Bong Yap Kim
- Ms Yvonne Chiu
- Mr Andre Toh
|
Training Methodology
Presentation style with each of the speakers taking turns to present. There will be a Q&A session after all the presentations during which the speakers will address any pertinent questions from the audience arising from the earlier presentations.
Closing Date for Registration
1 week before programme
Intended For
Both PAIPPs and PAIBs
Programme Facilitator(s)
