Course Detail(ADT130 : Audit of Property, Plant and Equipment (Classroom))

ADT130 : Audit of Property, Plant and Equipment (Classroom)

3.50 CPE Hours (Category 3)
Classroom

Programme Objective

To provide audit professional with guidance on the audit of property, plant and equipment (PPE) held for owner-use, sale and/or investment purposes. This course will also cover the key financial statement reporting and disclosure requirements for PPE.

Programme Outline

  • Understand he key financial statement reporting and disclosure requirements for PPE.

  • Discuss common financial statement misstatements concerning PPE.

  • Develop an understanding of the client PPE management process (inclusive of procurement, acquisition, deployment, maintenance of disposal), and related information flows; control polices/procedures over the PPE management process; types of documents generated and kept; accounting policies for PPE (including capitalization, depreciation, impairment an valuation); and financial statement accounts affected.  

  • Identify and assess the risk of material misstatement at assertion level for PPE taking into account relevant mitigating internal controls.

  • Determine the extent of reliance to place on internal controls over PPE; plan the nature, extent and timing of tests of controls; conduct and evaluate the results of these tests of controls and assess their implications for planning substantive tests of PPE.

  • Plan the nature, extent and timing of substantive procedures to test various assertions related to PPE.

  • Evaluate the audit findings and draw appropriate audit conclusions for PPE.

  • Discuss common PPE fraud schemes and related controls.

  • Develop a practical audit guide to improve audit quality.

  • Discuss audit templates to achieve audit objectives on PPE.

  • Discuss observation by PMP reviewer on PPE.


Training Methodology

Lecture style, with exercises/case studies

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

A Foundation to Intermediate level programme intended for Practising and Non-Practising Accountants and Auditors. Senior Audit Professionals who like to understand more about the issues involved in the audit of PPE are welcome to attend.

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

13 Nov 2024 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 202.74
For Non-Members: $ 241.98

Programme Facilitator(s)

Dr Chinnu Palanivelu

Venue

60 Cecil Street
ISCA House
Singapore 049709

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


 

Dr Chinnu Palanivelu, PA (ACRA), FCA (Singapore), CA (England &Wales), CPA (Aust.), FCCA, CMA, CFE, DBA, MBA, BSc (Hons)

Dr Chinnu is currently the Managing Partner of Stamford group of companies that involved audit, financial reporting, tax advisory, management consulting, company secretarial work and risk advisory. Before current appointment, he has more than 20 years of experience in public practice and commercial entities. He also appointed faculty member of various academic and professional institutions including James Cook University, University of Greenwich, LSBF, Kaplan, SIT, Singapore Accountancy Commission, ISCA, ACCA, ICAEW and Singapore Institute of Auditors. Dr Chinnu completed specialised Diploma in Tax, IFRS, SSA and adult trainings and teaching in higher education.

 

Dr Chinnu developed expertise in audit and accounting of societies, charities and IPCs. He is ISCA Care Volunteer (pro-bono) to advice charity on the governance, audit and accounting. He is a technical trainer and facilitator at ISCA and SMPs on various trainings related to non-profit entities where he trained few thousands of practitioners and finance professional. Dr Chinnu, as Public Accountant and auditors, audited more than 100 Societies, Charities, IPCs, and Co-operative societies, associations, clubs and Company Limited Guarantees.

 

Dr Chinnu served about 10 years in the Board and advisory committees of Ministry of Education, Ministry of Social and Family Development, Ministry of Culture, Community and Youth and Youth Corp Singapore. Dr Chinnu served more than 12 years in the grassroots in various position including auditor and Treasurer. For his contribution to grassroots, he was awarded PA Long Service Award and National Day Honour Medal. Dr chinnu also received recognition letter from ministries such as MSF and MOE, NS Gold status recognition and Total Defence award from Ministry of Defence.

Dr Chinnu currently serves on the Board of Directors/Executive committee of SCAPE Ltd, Rotary Foundation of Singapore Ltd, Singapore South Asia Chamber of Commerce and Industry, Rotatory Club of Singapore East, Tapestry Project Ltd, Abdul Kalam Vision Society and Societies of Kalaipithers. He was served Board of Directors of Association of Persons with Special Needs, Singapore National Paralympic Council, SHINE Childers and Youth Service, Breast Cancer Foundation and Singapore Taekwondo Foundation.

He also served/serving Chairman or member of audit committee of Association of Persons with Special Needs, Singapore Taekwondo Foundation, Singapore Disability Sports Council, National Volunteer & Philanthropy Centre, SCAPE Ltd and Breast Cancer Foundation.

He also served/serving Treasurer of Rotary Foundation of Singapore Ltd, Societies of Kalaipithers, Tapestry Project Ltd and Abdul Kalam Vision Society.

He also served/serving Chairman/member of finance committee of Singapore National Paralympic Council, Singapore South Asia Chamber of Commerce and Industry, Association of Persons with Special Needs, Tapestry Project Ltd, Abdul Kalam Vision Society and Societies of Kalaipithers.

Dr Chinnu also served Honorary Secretary of Societies of Kalaipithers and Breast Cancer Foundation.

He also served management committee/advisory of various education institutions such as ACCA, Singapore Accountancy Academy Global Education, London School of Business and Finance and Association of Certified Fraud Examiners.

Dr Chinnu also appointed as Honorary Auditor of Singapore Indian Educational Trust, Abdul Kalam Vision Society, Global Organisation of People of Indian Origin, Societies of Kalaipithers and Guild of International Speakers and Trainers.

Chinnu was awarded Lifelong Learner Award by President of Singapore and received recognition from several institutions such as the ACCA, NCSS, APSN and SHINE. Dr Chinnu conferred Global Guru Award for his teaching, training and impact made to his participants. For his contribution to the society, non-profit institutions and nation building, he was awarded Honorary Doctorate degree (Doctor of Letters).

Dr Chinnu also conferred Global Leadership Award and under his Leadership, Stamford Assurance group awarded SME 500 award, Best Practice Firm award under SMP category by the Legacy International and Singapore 100 Entrepreneurs award.

Programme Objective

To provide audit professional with guidance on the audit of property, plant and equipment (PPE) held for owner-use, sale and/or investment purposes. This course will also cover the key financial statement reporting and disclosure requirements for PPE.

Programme Outline

  • Understand he key financial statement reporting and disclosure requirements for PPE.

  • Discuss common financial statement misstatements concerning PPE.

  • Develop an understanding of the client PPE management process (inclusive of procurement, acquisition, deployment, maintenance of disposal), and related information flows; control polices/procedures over the PPE management process; types of documents generated and kept; accounting policies for PPE (including capitalization, depreciation, impairment an valuation); and financial statement accounts affected.  

  • Identify and assess the risk of material misstatement at assertion level for PPE taking into account relevant mitigating internal controls.

  • Determine the extent of reliance to place on internal controls over PPE; plan the nature, extent and timing of tests of controls; conduct and evaluate the results of these tests of controls and assess their implications for planning substantive tests of PPE.

  • Plan the nature, extent and timing of substantive procedures to test various assertions related to PPE.

  • Evaluate the audit findings and draw appropriate audit conclusions for PPE.

  • Discuss common PPE fraud schemes and related controls.

  • Develop a practical audit guide to improve audit quality.

  • Discuss audit templates to achieve audit objectives on PPE.

  • Discuss observation by PMP reviewer on PPE.


Training Methodology

Lecture style, with exercises/case studies

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

A Foundation to Intermediate level programme intended for Practising and Non-Practising Accountants and Auditors. Senior Audit Professionals who like to understand more about the issues involved in the audit of PPE are welcome to attend.

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

 

Dr Chinnu Palanivelu, PA (ACRA), FCA (Singapore), CA (England &Wales), CPA (Aust.), FCCA, CMA, CFE, DBA, MBA, BSc (Hons)

Dr Chinnu is currently the Managing Partner of Stamford group of companies that involved audit, financial reporting, tax advisory, management consulting, company secretarial work and risk advisory. Before current appointment, he has more than 20 years of experience in public practice and commercial entities. He also appointed faculty member of various academic and professional institutions including James Cook University, University of Greenwich, LSBF, Kaplan, SIT, Singapore Accountancy Commission, ISCA, ACCA, ICAEW and Singapore Institute of Auditors. Dr Chinnu completed specialised Diploma in Tax, IFRS, SSA and adult trainings and teaching in higher education.

 

Dr Chinnu developed expertise in audit and accounting of societies, charities and IPCs. He is ISCA Care Volunteer (pro-bono) to advice charity on the governance, audit and accounting. He is a technical trainer and facilitator at ISCA and SMPs on various trainings related to non-profit entities where he trained few thousands of practitioners and finance professional. Dr Chinnu, as Public Accountant and auditors, audited more than 100 Societies, Charities, IPCs, and Co-operative societies, associations, clubs and Company Limited Guarantees.

 

Dr Chinnu served about 10 years in the Board and advisory committees of Ministry of Education, Ministry of Social and Family Development, Ministry of Culture, Community and Youth and Youth Corp Singapore. Dr Chinnu served more than 12 years in the grassroots in various position including auditor and Treasurer. For his contribution to grassroots, he was awarded PA Long Service Award and National Day Honour Medal. Dr chinnu also received recognition letter from ministries such as MSF and MOE, NS Gold status recognition and Total Defence award from Ministry of Defence.

Dr Chinnu currently serves on the Board of Directors/Executive committee of SCAPE Ltd, Rotary Foundation of Singapore Ltd, Singapore South Asia Chamber of Commerce and Industry, Rotatory Club of Singapore East, Tapestry Project Ltd, Abdul Kalam Vision Society and Societies of Kalaipithers. He was served Board of Directors of Association of Persons with Special Needs, Singapore National Paralympic Council, SHINE Childers and Youth Service, Breast Cancer Foundation and Singapore Taekwondo Foundation.

He also served/serving Chairman or member of audit committee of Association of Persons with Special Needs, Singapore Taekwondo Foundation, Singapore Disability Sports Council, National Volunteer & Philanthropy Centre, SCAPE Ltd and Breast Cancer Foundation.

He also served/serving Treasurer of Rotary Foundation of Singapore Ltd, Societies of Kalaipithers, Tapestry Project Ltd and Abdul Kalam Vision Society.

He also served/serving Chairman/member of finance committee of Singapore National Paralympic Council, Singapore South Asia Chamber of Commerce and Industry, Association of Persons with Special Needs, Tapestry Project Ltd, Abdul Kalam Vision Society and Societies of Kalaipithers.

Dr Chinnu also served Honorary Secretary of Societies of Kalaipithers and Breast Cancer Foundation.

He also served management committee/advisory of various education institutions such as ACCA, Singapore Accountancy Academy Global Education, London School of Business and Finance and Association of Certified Fraud Examiners.

Dr Chinnu also appointed as Honorary Auditor of Singapore Indian Educational Trust, Abdul Kalam Vision Society, Global Organisation of People of Indian Origin, Societies of Kalaipithers and Guild of International Speakers and Trainers.

Chinnu was awarded Lifelong Learner Award by President of Singapore and received recognition from several institutions such as the ACCA, NCSS, APSN and SHINE. Dr Chinnu conferred Global Guru Award for his teaching, training and impact made to his participants. For his contribution to the society, non-profit institutions and nation building, he was awarded Honorary Doctorate degree (Doctor of Letters).

Dr Chinnu also conferred Global Leadership Award and under his Leadership, Stamford Assurance group awarded SME 500 award, Best Practice Firm award under SMP category by the Legacy International and Singapore 100 Entrepreneurs award.


Upcoming Schedule

Date & Time

13 Nov 2024 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 202.74
For Non-Members: $ 241.98

Programme Facilitator(s)

Dr Chinnu Palanivelu

Venue

60 Cecil Street
ISCA House
Singapore 049709