Pre-requisite: The corner stone of an efficient and effective audit is the planning stage, which unfortunately have been overlooked by public practitioners over the years. This had amongst others, resulted in the inability to identify key risk areas and issues early in the audit, poor prioritisation of significant audit areas and under/over auditing. The revised standards had improved the approach on audit planning and risk assessment; including fraud risk assessment, so as to emphasise the role of planning and risk in the audit process by enhancing the requirements, including related documentation. Increased scrutiny by regulators and professional bodies on public accounting practices had also elevated the importance of planning and risk assessment as a crucial element of the audit approach.On the completion of this course, you will be able to:
Identify the key requirements of planning and risk assessment in an audit of financial statements; apply the requirements of all applicable Singapore Standards of Auditing (SSAs) at the planning stage; understand the audit procedures to be performed, documentation and communications required to support and justify the planning and risk assessment process of an audit of financial statements; and prepare and develop an effective audit plan and approach for an audit of financial statements.
Programme Outline
Recap of the key requirements of SSA 300, SSA 315 (Revised 2021), SSA 320, SSA 330 and SSA 240, including specific considerations relating to SSA 520, SSA 550 and SSA 570 in planning for an audit of financial statements. Group discussion of case studies that will incorporate the following: Understand the entity and its environment, including the control environment (SSA 315 (Revised 2021)); Fraud risk assessment at the planning stage (SSA 240); Use of preliminary analytical review in planning and risk assessment (SSA 520); Identification of significant risks and determination of risks at financial statement level and/or assertion level (SSA 315 (Revised 2021)); Determine materiality levels, including consideration of circumstances that warrant specific materiality level (SSA 320 and SSA 450); Other matters to consider at the planning stage - related parties and going concern (SSA 550 and SSA 570); Setting the audit approach to respond to identified and assessed risks (SSA 330); and Proper documentation for planning and risk assessment. (SSA 300 and SSA 230). Group presentation and discussion of the case studies. Communication with those charged with governance in accordance with SSA 260. Training Methodology Workshop style with discussion of case studies and group presentations, including sharing of practical issues. Closing Date for Registration
1 week before programme or until full enrolment
Intended For
Audit seniors, managers and partners.
Competency Mapping
Category 3 = 7.00 Hours
Schedule & Fees
Date & Time
25 Jul 2025 (9:00 AM - 5:00 PM)
Fee (inclusive of GST) SGD
SGD pricing -
For Members:
$ 406.57
$ 485.05
Programme Facilitator(s)
Dr Ramesh Ruben Louis
Venue
60 Cecil Street
Testimonial
Funding 1] NTUC Union Training Assistance Programme (UTAP)
NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 01 April 2024 and 31 March 2025. *This excludes miscellaneous fees such as GST and registration fee etc.
Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and; Course by training provider must be supported under UTAP and training must commence within the supported period and; Unfunded course fee must not be fully sponsored by company or other types of funding Unfunded course fee must be S$20.00 and above, and; Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and; UTAP application must be made within 6 months after course ends. To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/ . Terms and conditions apply.
Programme Facilitator(s)
Dr Ramesh Ruben Louis
Pre-requisite: The corner stone of an efficient and effective audit is the planning stage, which unfortunately have been overlooked by public practitioners over the years. This had amongst others, resulted in the inability to identify key risk areas and issues early in the audit, poor prioritisation of significant audit areas and under/over auditing. The revised standards had improved the approach on audit planning and risk assessment; including fraud risk assessment, so as to emphasise the role of planning and risk in the audit process by enhancing the requirements, including related documentation. Increased scrutiny by regulators and professional bodies on public accounting practices had also elevated the importance of planning and risk assessment as a crucial element of the audit approach.On the completion of this course, you will be able to:
Identify the key requirements of planning and risk assessment in an audit of financial statements; apply the requirements of all applicable Singapore Standards of Auditing (SSAs) at the planning stage; understand the audit procedures to be performed, documentation and communications required to support and justify the planning and risk assessment process of an audit of financial statements; and prepare and develop an effective audit plan and approach for an audit of financial statements.
Programme Outline
Recap of the key requirements of SSA 300, SSA 315 (Revised 2021), SSA 320, SSA 330 and SSA 240, including specific considerations relating to SSA 520, SSA 550 and SSA 570 in planning for an audit of financial statements. Group discussion of case studies that will incorporate the following: Understand the entity and its environment, including the control environment (SSA 315 (Revised 2021)); Fraud risk assessment at the planning stage (SSA 240); Use of preliminary analytical review in planning and risk assessment (SSA 520); Identification of significant risks and determination of risks at financial statement level and/or assertion level (SSA 315 (Revised 2021)); Determine materiality levels, including consideration of circumstances that warrant specific materiality level (SSA 320 and SSA 450); Other matters to consider at the planning stage - related parties and going concern (SSA 550 and SSA 570); Setting the audit approach to respond to identified and assessed risks (SSA 330); and Proper documentation for planning and risk assessment. (SSA 300 and SSA 230). Group presentation and discussion of the case studies. Communication with those charged with governance in accordance with SSA 260. Training Methodology Workshop style with discussion of case studies and group presentations, including sharing of practical issues. Closing Date for Registration
1 week before programme or until full enrolment
Intended For
Audit seniors, managers and partners.
Competency Mapping
Category 3 = 7.00 Hours
Programme Facilitator(s)
Dr Ramesh Ruben Louis