Course Detail(2023MC4 : Updates on Professional Standards 2023)

UTAP Funding

2023MC4 : Updates on Professional Standards 2023 NEW

2.50 CPE Hours (Category 1, Category 2, Category 3)
Live Webinar

Championed by various ISCA Committees, the ISCA Mini Conferences promises 2 to 2.5 hours of content centred around business issues, solutions, and megatrends shaping the global market and ecosystem today. Through these interactive live sessions, thought leaders and industry experts will provide their unique perspectives on in trend topics. 

Find out more about the ISCA Mini Conferences! Package available here.

Time

Programme

Speaker

2.00 pm

Topical Accounting Updates

The current year has been marked rising interest rates and general fears of recession. This segment will provide insights into how recent macroeconomic changes, including the international tax reform, may affect financial reporting. In addition, you will gain a snapshot of various ISCA technical guidance issued in 2022 and 2023.

By Mr Aylwin How

 

2.20 pm

Updates on Auditing Standards

Macroeconomic and geopolitical developments, as well as evolving business and audit environments, necessitate the need for the constant review of existing auditing and assurance standards to ensure that they remain fit-for-purpose. SSA 600 (Revised), which deals with special considerations that apply to a group audit, has been revised and is effective for audits of group financial statements for periods beginning on or after 15 December 2023. This session will also cover standards dealing with going concern, audit evidence, audits for less complex entities and sustainability assurance. Join us to learn about these important updates.

By Ms Susan Foong

2.40pm

Revisions to the Ethics Code Relating to Engagement Team and Group Audits

The ethics code would be revised with an expected effective date of 15 December 2023 to address independence considerations in group audits. Join us to find out key changes to the ethics code.

By Mr Lim Tze Yuen

3.00pm

Screen break

 

3.10pm

Turning Climate Ambition into Action in Singapore - Recommendations to Advance Climate Reporting by the Sustainability Reporting Advisory Committee (SRAC)

In June 2022, ACRA and Singapore Exchange Regulation (SGX RegCo) set up a Sustainability Reporting Advisory Committee (SRAC) to advise on a roadmap for a wider implementation of sustainability reporting. Join us to learn more about the public consultation on the recommendations by the SRAC to advance climate reporting in Singapore.

Presentation by Ms Fang Eu-Lin (3.10pm to 3.30pm)

Q&A session with Ms Fang Eu-Lin and Ms Bong Yap Kim (3.30pm to 3.50pm)

Presentation by Ms Fang Eu-Lin

 

Q&A Session with Ms Fang Eu-Lin and Ms Bong Yap Kim

3.50 pm

Environmental Credits and related Accounting Implications

Since Singapore’s introduction of carbon taxes in 2019, there has been increasing interest in carbon credits. In 2022, it was announced that Singapore-based companies will be allowed to offset up to 5% of their taxable carbon emissions through the purchase of high-quality international carbon credits starting from 2024.

In this segment, you will gain insights into the latest developments surrounding environmental credits and some possible related accounting implications to take note of.

 

Presentation by Mr Wong Yew Chung

 

Fireside Chat:

Moderator: Mr Wong Yew Chung

 

Participant:

Miss Genevieve Joan Soh

Mr Justin Turnbull

 

4.30pm

End of session

 

 

Programme Outline

Explore and discuss the Professional Standards required of an accounting professional and the developments of these standards.

Training Methodology

Interactive facilitated presentation and panel discussion

 

Intended For

ALL

Competency Mapping

Category 1 = 1.50 Hours
Category 2 = 0.50 Hours
Category 3 = 0.50 Hours

Schedule & Fees

Registration is closed

Fee (inclusive of GST)


SGD pricing -

For Members: $ 98.10
For Non-Members: $ 119.90


Programme Facilitator(s)

Team of Professionals (2023MC4)

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)


Mr. Aylwin How
Audit Partner, Deloitte & Touche LLP
Member, ISCA Financial Reporting Committee

Aylwin has professional services experience of approximately 19 years, and is an audit partner with Deloitte & Touche LLP. In addition to client service, he holds various technical roles within the partnership. Aylwin’s industry focus is on the financial services industry and his technical accounting specialization is financial instruments accounting. As part of his client service role, Aylwin has supported clients in their accounting assessment of complex transactions, as well as implementation of new IFRS accounting standards.

Aylwin is also a member of the ISCA’s Financial Reporting Committee. He is also part of the ISCA’s working group. In addition to the professional roles mentioned above, Aylwin is an adjunct professor in a local university for undergraduate and postgraduate studies covering accounting topics including business combinations and derivatives- hedge accounting.

 

Ms. Susan Foong
Partner, Baker Tilly TFW LLP
Member, ISCA Auditing and Assurance Standards Committee (AASC)

Susan Foong is a Fellow of the Institute of Singapore Chartered Accountants (ISCA), and a Fellow of the Association of Chartered Certified Accountants (ACCA). Susan is currently the Practice Leader of Assurance practice at Baker Tilly, an independent member firm of the Baker Tilly International. She also heads Baker Tilly's Assurance Learning and Development team. Susan has over 20 years of audit and assurance experience and she specialises in audit and review engagements for businesses ranging from SGX-listed and private companies to not-for-profit organisations.  She is currently a member of the ISCA Auditing and Assurance Standards Committee, ISCA Financial Statements Review Advisory Panel and ISCA Charity Accounting Committee.

 

Mr. Lim Tze Yuen
Partner, Ernst & Young LLP
Member, ISCA Ethics Committee

Tze Yuen is an assurance partner with EY Singapore, with more than 25 years of experience auditing large public listed companies, multi-nationals and conglomerates with well diversified and global operations. Tze Yuen joined EY in 1992, and made partner in 2007. At EY, Tze Yuen is active in the Learning & Development department, coaching younger colleagues on various accounting topics and soft-skills. Tze Yuen is a member of the ISCA Ethics Committee. Tze Yuen holds a Bachelor of Accountancy from Nanyang Technological University, Singapore, and is a practising member of ISCA.

 

Ms. Fang Eu-Lin
Member, Sustainability Reporting Advisory Committee

Eu-Lin is a member of the Sustainability Reporting Advisory Committee (SRAC). SRAC is set up to advise ACRA and SGX Regco on the implementation roadmap to advance mandatory sustainability reporting in Singapore. The public consultation on SRAC’s recommendations is ongoing.

Eu-Lin leads the Sustainability & Climate Change practice across PwC Singapore and she is also a member of the wider PwC Global ESG Leadership Team. She also drives the PwC Asia Pac Centre for Sustainability Excellence. She helps clients strategise, implement, report and obtain assurance across a range Environmental, Social and Governance issues.

She is also the Chairperson of ISCA’s Sustainability and Climate Change Committee (SCCC) and the Chairperson of the Sustainability Excellence Sub-Committee under the SCCC.

 

Ms. Bong Yap Kim
Senior Technical Director, Accounting and Corporate Regulatory Authority (ACRA)

Bong Yap Kim oversees ACRA’s Sustainability Reporting Office. The office is set up to develop a roadmap for wider implementation of sustainability reporting for companies incorporated in Singapore, including the development of reporting and assurance standards. It also drives the sustainability efforts within ACRA.

Yap Kim is a Fellow of the Institute of Singapore Chartered Accountants and the Singapore Institute of Director (SID).  She represents ACRA in the Advisory Committee on Accounting Standards for Statutory Board and Singapore Standards Council.

 

Miss Genevieve Joan Soh
Head of Platforms and Ecosystems, Climate Impact X

Genevieve Soh is Head of Platforms and Ecosystems, responsible for user experience across the exchanges several platforms. Prior to this, she was a Principal with the Boston Consulting Group (BCG), and a Venture Architect Director at BCG Digital Ventures where she defined strategies for clients across South East Asia and North America.

Genevieve holds an MBA from the Northwestern University – Kellogg School of Management and a Bachelor’s degree in Accounting and Finance from Singapore Management University. Outside of work, Genevieve is also passionate about marine wildlife, for which she has learnt to scuba dive.

 

Mr Wong Yew Chung
Partner, EY
Member, ISCA Financial Reporting Committee

Yew Chung is a Partner at EY and he leads the power and utilities assurance sector of the firm. He is member of the ISCA Financial Reporting Committee and a member of the Learning and Assessment Committee of the Singapore Chartered Accountant Qualification professional programme. Yew Chung conducts regular accounting and auditing training sessions in EY and accounting seminars for his clients.

 

Mr Justin Turnbull
Director, KPMG Australia

Justin is a director within KPMG Australia’s CFO Advisory practice with over 17 years experience. Justin’s focus is the practical implementation of accounting concepts to highly complex arrangements including the valuation and accounting for financial instruments.

Justin is one of the Australian firm’s leads in respect to long term energy offtake agreements in the renewable energy sector including virtual power purchase agreements and their related environmental certificates. Justin works with clients across this industry from renewable generators, to energy retailers and corporate off takers to understand the commercials driving energy related decisions and how they are accounted for.

Services that Justin provides includes (amongst others): technical accounting advice, buy side / sell side due diligence, derivative valuations, practical hedge accounting solutions, and training.

Championed by various ISCA Committees, the ISCA Mini Conferences promises 2 to 2.5 hours of content centred around business issues, solutions, and megatrends shaping the global market and ecosystem today. Through these interactive live sessions, thought leaders and industry experts will provide their unique perspectives on in trend topics. 

Find out more about the ISCA Mini Conferences! Package available here.

Time

Programme

Speaker

2.00 pm

Topical Accounting Updates

The current year has been marked rising interest rates and general fears of recession. This segment will provide insights into how recent macroeconomic changes, including the international tax reform, may affect financial reporting. In addition, you will gain a snapshot of various ISCA technical guidance issued in 2022 and 2023.

By Mr Aylwin How

 

2.20 pm

Updates on Auditing Standards

Macroeconomic and geopolitical developments, as well as evolving business and audit environments, necessitate the need for the constant review of existing auditing and assurance standards to ensure that they remain fit-for-purpose. SSA 600 (Revised), which deals with special considerations that apply to a group audit, has been revised and is effective for audits of group financial statements for periods beginning on or after 15 December 2023. This session will also cover standards dealing with going concern, audit evidence, audits for less complex entities and sustainability assurance. Join us to learn about these important updates.

By Ms Susan Foong

2.40pm

Revisions to the Ethics Code Relating to Engagement Team and Group Audits

The ethics code would be revised with an expected effective date of 15 December 2023 to address independence considerations in group audits. Join us to find out key changes to the ethics code.

By Mr Lim Tze Yuen

3.00pm

Screen break

 

3.10pm

Turning Climate Ambition into Action in Singapore - Recommendations to Advance Climate Reporting by the Sustainability Reporting Advisory Committee (SRAC)

In June 2022, ACRA and Singapore Exchange Regulation (SGX RegCo) set up a Sustainability Reporting Advisory Committee (SRAC) to advise on a roadmap for a wider implementation of sustainability reporting. Join us to learn more about the public consultation on the recommendations by the SRAC to advance climate reporting in Singapore.

Presentation by Ms Fang Eu-Lin (3.10pm to 3.30pm)

Q&A session with Ms Fang Eu-Lin and Ms Bong Yap Kim (3.30pm to 3.50pm)

Presentation by Ms Fang Eu-Lin

 

Q&A Session with Ms Fang Eu-Lin and Ms Bong Yap Kim

3.50 pm

Environmental Credits and related Accounting Implications

Since Singapore’s introduction of carbon taxes in 2019, there has been increasing interest in carbon credits. In 2022, it was announced that Singapore-based companies will be allowed to offset up to 5% of their taxable carbon emissions through the purchase of high-quality international carbon credits starting from 2024.

In this segment, you will gain insights into the latest developments surrounding environmental credits and some possible related accounting implications to take note of.

 

Presentation by Mr Wong Yew Chung

 

Fireside Chat:

Moderator: Mr Wong Yew Chung

 

Participant:

Miss Genevieve Joan Soh

Mr Justin Turnbull

 

4.30pm

End of session

 

 

Programme Outline

Explore and discuss the Professional Standards required of an accounting professional and the developments of these standards.

Training Methodology

Interactive facilitated presentation and panel discussion

 

Intended For

ALL

Competency Mapping

Category 1 = 1.50 Hours
Category 2 = 0.50 Hours
Category 3 = 0.50 Hours

Programme Facilitator(s)

Mr. Aylwin How
Audit Partner, Deloitte & Touche LLP
Member, ISCA Financial Reporting Committee

Aylwin has professional services experience of approximately 19 years, and is an audit partner with Deloitte & Touche LLP. In addition to client service, he holds various technical roles within the partnership. Aylwin’s industry focus is on the financial services industry and his technical accounting specialization is financial instruments accounting. As part of his client service role, Aylwin has supported clients in their accounting assessment of complex transactions, as well as implementation of new IFRS accounting standards.

Aylwin is also a member of the ISCA’s Financial Reporting Committee. He is also part of the ISCA’s working group. In addition to the professional roles mentioned above, Aylwin is an adjunct professor in a local university for undergraduate and postgraduate studies covering accounting topics including business combinations and derivatives- hedge accounting.

 

Ms. Susan Foong
Partner, Baker Tilly TFW LLP
Member, ISCA Auditing and Assurance Standards Committee (AASC)

Susan Foong is a Fellow of the Institute of Singapore Chartered Accountants (ISCA), and a Fellow of the Association of Chartered Certified Accountants (ACCA). Susan is currently the Practice Leader of Assurance practice at Baker Tilly, an independent member firm of the Baker Tilly International. She also heads Baker Tilly's Assurance Learning and Development team. Susan has over 20 years of audit and assurance experience and she specialises in audit and review engagements for businesses ranging from SGX-listed and private companies to not-for-profit organisations.  She is currently a member of the ISCA Auditing and Assurance Standards Committee, ISCA Financial Statements Review Advisory Panel and ISCA Charity Accounting Committee.

 

Mr. Lim Tze Yuen
Partner, Ernst & Young LLP
Member, ISCA Ethics Committee

Tze Yuen is an assurance partner with EY Singapore, with more than 25 years of experience auditing large public listed companies, multi-nationals and conglomerates with well diversified and global operations. Tze Yuen joined EY in 1992, and made partner in 2007. At EY, Tze Yuen is active in the Learning & Development department, coaching younger colleagues on various accounting topics and soft-skills. Tze Yuen is a member of the ISCA Ethics Committee. Tze Yuen holds a Bachelor of Accountancy from Nanyang Technological University, Singapore, and is a practising member of ISCA.

 

Ms. Fang Eu-Lin
Member, Sustainability Reporting Advisory Committee

Eu-Lin is a member of the Sustainability Reporting Advisory Committee (SRAC). SRAC is set up to advise ACRA and SGX Regco on the implementation roadmap to advance mandatory sustainability reporting in Singapore. The public consultation on SRAC’s recommendations is ongoing.

Eu-Lin leads the Sustainability & Climate Change practice across PwC Singapore and she is also a member of the wider PwC Global ESG Leadership Team. She also drives the PwC Asia Pac Centre for Sustainability Excellence. She helps clients strategise, implement, report and obtain assurance across a range Environmental, Social and Governance issues.

She is also the Chairperson of ISCA’s Sustainability and Climate Change Committee (SCCC) and the Chairperson of the Sustainability Excellence Sub-Committee under the SCCC.

 

Ms. Bong Yap Kim
Senior Technical Director, Accounting and Corporate Regulatory Authority (ACRA)

Bong Yap Kim oversees ACRA’s Sustainability Reporting Office. The office is set up to develop a roadmap for wider implementation of sustainability reporting for companies incorporated in Singapore, including the development of reporting and assurance standards. It also drives the sustainability efforts within ACRA.

Yap Kim is a Fellow of the Institute of Singapore Chartered Accountants and the Singapore Institute of Director (SID).  She represents ACRA in the Advisory Committee on Accounting Standards for Statutory Board and Singapore Standards Council.

 

Miss Genevieve Joan Soh
Head of Platforms and Ecosystems, Climate Impact X

Genevieve Soh is Head of Platforms and Ecosystems, responsible for user experience across the exchanges several platforms. Prior to this, she was a Principal with the Boston Consulting Group (BCG), and a Venture Architect Director at BCG Digital Ventures where she defined strategies for clients across South East Asia and North America.

Genevieve holds an MBA from the Northwestern University – Kellogg School of Management and a Bachelor’s degree in Accounting and Finance from Singapore Management University. Outside of work, Genevieve is also passionate about marine wildlife, for which she has learnt to scuba dive.

 

Mr Wong Yew Chung
Partner, EY
Member, ISCA Financial Reporting Committee

Yew Chung is a Partner at EY and he leads the power and utilities assurance sector of the firm. He is member of the ISCA Financial Reporting Committee and a member of the Learning and Assessment Committee of the Singapore Chartered Accountant Qualification professional programme. Yew Chung conducts regular accounting and auditing training sessions in EY and accounting seminars for his clients.

 

Mr Justin Turnbull
Director, KPMG Australia

Justin is a director within KPMG Australia’s CFO Advisory practice with over 17 years experience. Justin’s focus is the practical implementation of accounting concepts to highly complex arrangements including the valuation and accounting for financial instruments.

Justin is one of the Australian firm’s leads in respect to long term energy offtake agreements in the renewable energy sector including virtual power purchase agreements and their related environmental certificates. Justin works with clients across this industry from renewable generators, to energy retailers and corporate off takers to understand the commercials driving energy related decisions and how they are accounted for.

Services that Justin provides includes (amongst others): technical accounting advice, buy side / sell side due diligence, derivative valuations, practical hedge accounting solutions, and training.


Upcoming Schedule

Registration is closed

Fee (inclusive of GST)


SGD pricing -

For Members: $ 98.10
For Non-Members: $ 119.90


Programme Facilitator(s)

Team of Professionals (2023MC4)