Course Detail(2023MC6 : Insights into the Review of Financial Statements)

UTAP Funding

2023MC6 : Insights into the Review of Financial Statements NEW

2.00 CPE Hours (Category 1)
Live Webinar

The ISCA Mini Conferences promises 2 to 2.5 hours of thought-provoking content delivered to you from horse's mouth by our thought-leaders and industry experts from various ISCA Committees. Gain exclusive insights on business issues, solutions and megatrends shaping the global market and ecosystem today from our esteemed speakers and panellists in these interactive sessions.

In ISCA's collaboration with ACRA, the ISCA Financial Statements Review Advisory Panel ("ISCA FSRAP") reviews selected audited financial statements of Singapore-incorporated companies under ACRA's Financial Reporting Surveillance Programme ("FSRAP"), with the objectives of enhancing the quality of financial reporting and promoting best practices in Singapore.

ISCA is organising this event for CFOS, finance teams, auditors, and directors. Participants will have the opportunity to hear from subject matter experts and regulators on their insights and suggestions in complying with the financial reporting standards.

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

Programme Outline

Get an insight into the key risks and emerging issues in financial reporting. Hear from subject matter experts on their views in these areas

Duration

Event

 

2:00 pm – 2:05 pm
(5 minutes)

 

Welcome Address

 

By Mr James Xu, Chairman of ISCA FSRAP

 

 

2:05 pm – 2:10 pm
(5 minutes)

 

Keynote

 

By Ms Kuldip Gill, Assistant Chief Executive (Accounting and Compliance Group), Accounting and Corporate Regulatory Authority (ACRA)

 

 

2:10 pm – 2:30 pm
(20 minutes)
 

 

Presentation 1: Key Focus Areas for the Review of Financial Statements

 

By Ms Yvonne Chiu, Deputy Chairperson of ISCA FSRAP

 

ACRA publishes the areas of review focus annually to guide directors in reviewing and approving the financial statements. In this presentation, you will hear from the speaker, the areas of review focus for the FY2023 financial statements. 

 

 

2:30 pm – 3:00 pm
(30 minutes)

 

 

Presentation 2: Key Management Estimates & Judgement

 

Presented by:

  1. Ms Yong Zen Yun, Member, ISCA FSRAP, Accounting Technical Leader, PricewaterhouseCoopers LLP; and
  2. Mr Poh Chin Beng, Member, ISCA FSRAP, Partner, RSM Chio Lim LLP

 

Many judgements and estimates are applied in financial reporting, some of which will have a significant effect on the financial performance and position of the reporting entity. However, the application and development of judgements and estimates are difficult, adding on to the pressure preparers face to meet investor’s expectation for high quality related disclosures. Join us to learn more about some common judgements and estimates areas from our two speakers.
 

3:00 pm – 3:10 pm
(10 minutes)
   Screen Break

3.10 pm – 4.00 pm
(50 minutes)

 

Presentation 3: Going concern

 

Presented and Moderated by Ms Yeow Hui Cheng, Member, ISCA FSRAP, Partner, Ernst & Young LLP

 

Panellists

  1. Mr Goh Chyan Pit, Managing Director (Capital Markets), DBS Bank Ltd
  2. Mr Vincent Choo, Finance Director, TADA Mobility Pte Ltd
  3. Ms Tan Wee Khim, Technical Director, Financial Reporting and Information Department, ACRA

 

Considering the current economic environment, there may be a wider range of factors that can affect an entity’s going concern assessment. Join us in looking at the issues to consider when performing going concern assessment. This will be followed by a panel discussion on how a combination of risk factors can impact a company’s solvency and the red flag indicators investors and directors look at.
 

 

 

Training Methodology

Interactive facilitated presentation and panel discussion

 

Intended For

CFOS, finance teams, auditors, and directors

Competency Mapping

Category 1 = 2.00 Hours

Schedule & Fees

Registration is closed

Fee (inclusive of GST)

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

Programme Facilitator(s)

Team of Professionals (2023MC6)

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)



James Xu
Chairman of ISCA FSRAP

James has more than 25 years of public accounting experience, including 2 years in New York office.

He has extensive experience in the audit of multinationals and local companies in various industries including Manufacturing, Technology, Media and Telecom (TMT), Real Estate and Construction, Transporation, Consumer Products, Energy and Resources. He has significant experience in international coordination, cross border audits and large group audits.

James graduated from Shanghai International Study University.

He is fellow member of Chartered Accountant of Singapore, fellow member of ACCA, US CPA and CFA Charterholder.

He is the Chairman of the Financial Statements Review Advisory Panel and Deputy Chairman of Audit and Assurance Standards Committee of ISCA.

 


Kuldip Gill
Assistant Chief Executive
Accounting and Corporate Regulatory Authority (ACRA)

Ms Kuldip Gill is the Assistant Chief Executive of the Accounting and Corporate Regulatory Authority (ACRA) and oversees the Accounting and Compliance Group which supports ACRA in developing a progressive and responsive regulatory regime as the regulator of business registration, financial reporting, public accountants and corporate service providers. This includes the oversight of public accountants and public accounting entities, financial reporting by companies, as well as setting the strategic direction for ACRA’s enforcement efforts over business entities and company directors.

Kuldip leads ACRA’s involvement in the International Forum of Independent Audit Regulators (IFIAR), of which ACRA is a member of the IFIAR Board, Global Audit Quality Working Group and Technology Task Force. She also serves as the Chair of the Human Resources and Governance Committee of the IFIAR Board.

Kuldip has more than 30 years’ experience in public accounting in various countries in the region including Australia, Hong Kong and Singapore, with extensive experience in the audits of multinational and local companies in a wide spectrum of industries. Prior to joining ACRA, she was a partner in one of the Big-4 firms in Singapore and was responsible for some of the quality aspects of the network firm.

Kuldip is a member of the Institute of Singapore Chartered Accountants.

 


Yvonne Chiu
Audit Partner, Audit Quality Leader
KPMG Singapore

Yvonne is an audit partner with KPMG Singapore and has over 25 years of experience. She has extensive experience in the audits of global financial institutions as well as listed corporations.

She holds the critical role as KPMG Singapore’s Audit Quality Leader to drive and monitor audit quality. Member of the KPMG Singapore’s Audit Quality Committee, and Chairperson of KPMG Singapore’s Audit Practice Committee.

Yvonne has extensive knowledge in the conversion from a number of accounting standards to International Financial Reporting Standards. She is the Deputy Chairperson of the Financial Statements Review Committee of the Institute of Singapore Chartered Accountants. She is also a member of the ISCA’s Auditing and Assurance Standards Committee.

Yvonne is a Chartered Accountant of the Institute of Chartered Accountants in England & Wales (winner of the Northcott Prize) and a practising member of the Institute of Singapore Chartered Accountants (ISCA). She also holds a First Class Honours degree from the Nanyang Technological University of Singapore.

 

Yong Zen Yun
Audit Partner, Accounting Technical Leader
PWC Singapore

Zen Yun is an audit partner with PricewaterhouseCoopers LLP and has extensive experience in auditing a broad range of Technology, Entertainment and Media companies. As the Accounting Technical  Leader of PwC Singapore, Zen Yun leads a team of International Financial Reporting Standards (IFRS) specialists in Singapore. She is an expert in the audit of internal controls over financial reporting under the Sarbanes-Oxley Act and has extensive experience in advising US public and emerging companies on complex accounting and reporting matters surrounding the application of IFRS and SEC reporting rules.

Being active within the accounting profession, she is currently serving on the Institute of Singapore Chartered Accountants (ISCA) Financial Statements Review Advisory Panel in Singapore and speaks frequently at seminars organised by the various accounting professional bodies. Zen Yun is also a practising member of the ISCA and Fellow of CPA Australia.

 

Poh Chin Beng
Audit Partner
RSM Singapore

Chin Beng has more than 20 years of audit and assurance experience. Throughout his career, he has served a diverse portfolio of clients, including SGX listed groups, MNCs, growth enterprises and the public sector.  In addition to his extensive auditing background, Chin Beng also possesses 4 years of commercial experience. He worked as a regional internal auditor with a global pharmaceutical MNC, which is listed in both Switzerland and the USA, covering the Asia Pacific region. He also served as a regional financial controller in a Nasdaq listed technology group.

 

Yeow Hui Cheng
Assurance Partner, and Deputy Professional Practice Director
EY Singapore

Hui Cheng is an Assurance Partner and Deputy Professional Practice Director at EY. She has more than 24 years of professional audit experience, serving Singapore and US public listed companies with a focus on Technology, Media and Telecommunications (TMT) sector. Experienced with both US GAAP and IFRS and the US SEC rules and SGX listing rules, she has assisted many companies in tapping capital markets through equity and debts offering in Singapore and the US. Hui Cheng is also the Digital Audit Leader at EY responsible for leading the transformation of the Digital Audit. 

Hui Cheng is a practicing member of ISCA and currently the Chairperson of ISCA Auditing and Assurance Standards Committee and a member of ISCA Financial Statements Review Committee.

Goh Chyan Pit
Managing Director
Capital Markets
DBS Bank, Singapore

Chyan Pit is a Managing Director within DBS Capital Markets Department. He first joined DBS in 1995. During his more than 25 years of corporate finance and investment banking experience with the Bank, he was responsible for the successful completion of numerous corporate finance and capital market transactions for regional and multinational companies, real estate investment trusts and business trusts. These transactions include different types of equity fund raising exercises such as initial public offerings ('IPOs), rights issues and private placements. Chyan Pit played an instrumental role in many of the landmark transactions in Singapore, including the IPOs of GHY Culture & Media, Sasseur REIT, Hutchison Port Holdings Trust, IHH Healthcare, Global Logistic Properties and CapitaMalls Asia.

Chyan Pit has a Bachelor of Science (Honours) degree in Microbiology and a Master of Business Administration degree from the National University of Singapore. He is also a Chartered Financial Analyst from the CFA Institute in USA.

 

Tan Wee Khim
Technical Director, Financial Reporting and Information Department
Accounting and Corporate Regulatory Authority (ACRA)

Ms Tan is the Technical Director of ACRA's Financial Reporting and Information Department.

The department sets the strategic direction in promoting high quality financial reporting and filing of financial statements by companies incorporated in Singapore. It administers the Financial Reporting Surveillance Programme which reviews financial statements for compliance with the prescribed accounting standards in Singapore.

Ms Tan is a member of the Institute of Singapore Chartered Accountants.

 

Joo Kwang Choo, Vincent
Finance Director
TADA Mobility

Vincent Choo is Finance Director at a Series C company that specializes in ride-hailing and offers sales and services related to electric two and three-wheelers.

He brings 25+ years of experience in financial reporting and analysis, strategy and planning, risk management, capital allocation and funding, and M&As. Commencing his professional journey with Deloitte, he progressed to assume senior roles at IBM, IMS Health, Elsevier and Procurri Corporation. His international exposure includes living and working in Japan during the pivotal Y2K transition and an impactful 2.5 years tenure in China from 2010 to 2012.

Vincent is a Fellow Chartered Accountant of Singapore and a Chartered Financial Analyst. He is also a member of ISCA CFO Committee.

The ISCA Mini Conferences promises 2 to 2.5 hours of thought-provoking content delivered to you from horse's mouth by our thought-leaders and industry experts from various ISCA Committees. Gain exclusive insights on business issues, solutions and megatrends shaping the global market and ecosystem today from our esteemed speakers and panellists in these interactive sessions.

In ISCA's collaboration with ACRA, the ISCA Financial Statements Review Advisory Panel ("ISCA FSRAP") reviews selected audited financial statements of Singapore-incorporated companies under ACRA's Financial Reporting Surveillance Programme ("FSRAP"), with the objectives of enhancing the quality of financial reporting and promoting best practices in Singapore.

ISCA is organising this event for CFOS, finance teams, auditors, and directors. Participants will have the opportunity to hear from subject matter experts and regulators on their insights and suggestions in complying with the financial reporting standards.

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

Programme Outline

Get an insight into the key risks and emerging issues in financial reporting. Hear from subject matter experts on their views in these areas

Duration

Event

 

2:00 pm – 2:05 pm
(5 minutes)

 

Welcome Address

 

By Mr James Xu, Chairman of ISCA FSRAP

 

 

2:05 pm – 2:10 pm
(5 minutes)

 

Keynote

 

By Ms Kuldip Gill, Assistant Chief Executive (Accounting and Compliance Group), Accounting and Corporate Regulatory Authority (ACRA)

 

 

2:10 pm – 2:30 pm
(20 minutes)
 

 

Presentation 1: Key Focus Areas for the Review of Financial Statements

 

By Ms Yvonne Chiu, Deputy Chairperson of ISCA FSRAP

 

ACRA publishes the areas of review focus annually to guide directors in reviewing and approving the financial statements. In this presentation, you will hear from the speaker, the areas of review focus for the FY2023 financial statements. 

 

 

2:30 pm – 3:00 pm
(30 minutes)

 

 

Presentation 2: Key Management Estimates & Judgement

 

Presented by:

  1. Ms Yong Zen Yun, Member, ISCA FSRAP, Accounting Technical Leader, PricewaterhouseCoopers LLP; and
  2. Mr Poh Chin Beng, Member, ISCA FSRAP, Partner, RSM Chio Lim LLP

 

Many judgements and estimates are applied in financial reporting, some of which will have a significant effect on the financial performance and position of the reporting entity. However, the application and development of judgements and estimates are difficult, adding on to the pressure preparers face to meet investor’s expectation for high quality related disclosures. Join us to learn more about some common judgements and estimates areas from our two speakers.
 

3:00 pm – 3:10 pm
(10 minutes)
   Screen Break

3.10 pm – 4.00 pm
(50 minutes)

 

Presentation 3: Going concern

 

Presented and Moderated by Ms Yeow Hui Cheng, Member, ISCA FSRAP, Partner, Ernst & Young LLP

 

Panellists

  1. Mr Goh Chyan Pit, Managing Director (Capital Markets), DBS Bank Ltd
  2. Mr Vincent Choo, Finance Director, TADA Mobility Pte Ltd
  3. Ms Tan Wee Khim, Technical Director, Financial Reporting and Information Department, ACRA

 

Considering the current economic environment, there may be a wider range of factors that can affect an entity’s going concern assessment. Join us in looking at the issues to consider when performing going concern assessment. This will be followed by a panel discussion on how a combination of risk factors can impact a company’s solvency and the red flag indicators investors and directors look at.
 

 

 

Training Methodology

Interactive facilitated presentation and panel discussion

 

Intended For

CFOS, finance teams, auditors, and directors

Competency Mapping

Category 1 = 2.00 Hours

Programme Facilitator(s)


James Xu
Chairman of ISCA FSRAP

James has more than 25 years of public accounting experience, including 2 years in New York office.

He has extensive experience in the audit of multinationals and local companies in various industries including Manufacturing, Technology, Media and Telecom (TMT), Real Estate and Construction, Transporation, Consumer Products, Energy and Resources. He has significant experience in international coordination, cross border audits and large group audits.

James graduated from Shanghai International Study University.

He is fellow member of Chartered Accountant of Singapore, fellow member of ACCA, US CPA and CFA Charterholder.

He is the Chairman of the Financial Statements Review Advisory Panel and Deputy Chairman of Audit and Assurance Standards Committee of ISCA.

 


Kuldip Gill
Assistant Chief Executive
Accounting and Corporate Regulatory Authority (ACRA)

Ms Kuldip Gill is the Assistant Chief Executive of the Accounting and Corporate Regulatory Authority (ACRA) and oversees the Accounting and Compliance Group which supports ACRA in developing a progressive and responsive regulatory regime as the regulator of business registration, financial reporting, public accountants and corporate service providers. This includes the oversight of public accountants and public accounting entities, financial reporting by companies, as well as setting the strategic direction for ACRA’s enforcement efforts over business entities and company directors.

Kuldip leads ACRA’s involvement in the International Forum of Independent Audit Regulators (IFIAR), of which ACRA is a member of the IFIAR Board, Global Audit Quality Working Group and Technology Task Force. She also serves as the Chair of the Human Resources and Governance Committee of the IFIAR Board.

Kuldip has more than 30 years’ experience in public accounting in various countries in the region including Australia, Hong Kong and Singapore, with extensive experience in the audits of multinational and local companies in a wide spectrum of industries. Prior to joining ACRA, she was a partner in one of the Big-4 firms in Singapore and was responsible for some of the quality aspects of the network firm.

Kuldip is a member of the Institute of Singapore Chartered Accountants.

 


Yvonne Chiu
Audit Partner, Audit Quality Leader
KPMG Singapore

Yvonne is an audit partner with KPMG Singapore and has over 25 years of experience. She has extensive experience in the audits of global financial institutions as well as listed corporations.

She holds the critical role as KPMG Singapore’s Audit Quality Leader to drive and monitor audit quality. Member of the KPMG Singapore’s Audit Quality Committee, and Chairperson of KPMG Singapore’s Audit Practice Committee.

Yvonne has extensive knowledge in the conversion from a number of accounting standards to International Financial Reporting Standards. She is the Deputy Chairperson of the Financial Statements Review Committee of the Institute of Singapore Chartered Accountants. She is also a member of the ISCA’s Auditing and Assurance Standards Committee.

Yvonne is a Chartered Accountant of the Institute of Chartered Accountants in England & Wales (winner of the Northcott Prize) and a practising member of the Institute of Singapore Chartered Accountants (ISCA). She also holds a First Class Honours degree from the Nanyang Technological University of Singapore.

 

Yong Zen Yun
Audit Partner, Accounting Technical Leader
PWC Singapore

Zen Yun is an audit partner with PricewaterhouseCoopers LLP and has extensive experience in auditing a broad range of Technology, Entertainment and Media companies. As the Accounting Technical  Leader of PwC Singapore, Zen Yun leads a team of International Financial Reporting Standards (IFRS) specialists in Singapore. She is an expert in the audit of internal controls over financial reporting under the Sarbanes-Oxley Act and has extensive experience in advising US public and emerging companies on complex accounting and reporting matters surrounding the application of IFRS and SEC reporting rules.

Being active within the accounting profession, she is currently serving on the Institute of Singapore Chartered Accountants (ISCA) Financial Statements Review Advisory Panel in Singapore and speaks frequently at seminars organised by the various accounting professional bodies. Zen Yun is also a practising member of the ISCA and Fellow of CPA Australia.

 

Poh Chin Beng
Audit Partner
RSM Singapore

Chin Beng has more than 20 years of audit and assurance experience. Throughout his career, he has served a diverse portfolio of clients, including SGX listed groups, MNCs, growth enterprises and the public sector.  In addition to his extensive auditing background, Chin Beng also possesses 4 years of commercial experience. He worked as a regional internal auditor with a global pharmaceutical MNC, which is listed in both Switzerland and the USA, covering the Asia Pacific region. He also served as a regional financial controller in a Nasdaq listed technology group.

 

Yeow Hui Cheng
Assurance Partner, and Deputy Professional Practice Director
EY Singapore

Hui Cheng is an Assurance Partner and Deputy Professional Practice Director at EY. She has more than 24 years of professional audit experience, serving Singapore and US public listed companies with a focus on Technology, Media and Telecommunications (TMT) sector. Experienced with both US GAAP and IFRS and the US SEC rules and SGX listing rules, she has assisted many companies in tapping capital markets through equity and debts offering in Singapore and the US. Hui Cheng is also the Digital Audit Leader at EY responsible for leading the transformation of the Digital Audit. 

Hui Cheng is a practicing member of ISCA and currently the Chairperson of ISCA Auditing and Assurance Standards Committee and a member of ISCA Financial Statements Review Committee.

Goh Chyan Pit
Managing Director
Capital Markets
DBS Bank, Singapore

Chyan Pit is a Managing Director within DBS Capital Markets Department. He first joined DBS in 1995. During his more than 25 years of corporate finance and investment banking experience with the Bank, he was responsible for the successful completion of numerous corporate finance and capital market transactions for regional and multinational companies, real estate investment trusts and business trusts. These transactions include different types of equity fund raising exercises such as initial public offerings ('IPOs), rights issues and private placements. Chyan Pit played an instrumental role in many of the landmark transactions in Singapore, including the IPOs of GHY Culture & Media, Sasseur REIT, Hutchison Port Holdings Trust, IHH Healthcare, Global Logistic Properties and CapitaMalls Asia.

Chyan Pit has a Bachelor of Science (Honours) degree in Microbiology and a Master of Business Administration degree from the National University of Singapore. He is also a Chartered Financial Analyst from the CFA Institute in USA.

 

Tan Wee Khim
Technical Director, Financial Reporting and Information Department
Accounting and Corporate Regulatory Authority (ACRA)

Ms Tan is the Technical Director of ACRA's Financial Reporting and Information Department.

The department sets the strategic direction in promoting high quality financial reporting and filing of financial statements by companies incorporated in Singapore. It administers the Financial Reporting Surveillance Programme which reviews financial statements for compliance with the prescribed accounting standards in Singapore.

Ms Tan is a member of the Institute of Singapore Chartered Accountants.

 

Joo Kwang Choo, Vincent
Finance Director
TADA Mobility

Vincent Choo is Finance Director at a Series C company that specializes in ride-hailing and offers sales and services related to electric two and three-wheelers.

He brings 25+ years of experience in financial reporting and analysis, strategy and planning, risk management, capital allocation and funding, and M&As. Commencing his professional journey with Deloitte, he progressed to assume senior roles at IBM, IMS Health, Elsevier and Procurri Corporation. His international exposure includes living and working in Japan during the pivotal Y2K transition and an impactful 2.5 years tenure in China from 2010 to 2012.

Vincent is a Fellow Chartered Accountant of Singapore and a Chartered Financial Analyst. He is also a member of ISCA CFO Committee.


Upcoming Schedule

Registration is closed

Fee (inclusive of GST)

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

Programme Facilitator(s)

Team of Professionals (2023MC6)