Course Detail(ADT152 : Audit of Revenue: Long-term/Construction Contracts)

ADT152 : Audit of Revenue: Long-term/Construction Contracts

3.50 CPE Hours (Category 3)
Classroom


Programme Objective
To equip participants with a competent understanding of the audit of contracts with performance obligations satisfied over time, with special emphasis on construction contracts.
 
This course will illustrate the application of FRS 115 and the general principles to guide the auditor in determining the validity of the amount attributed to long-term/construction contracts. The course will also discuss the key assertions with respect to long-term/construction contracts and how to direct audit effort to address these assertions.
 
(Note: This course does not cover the detailed aspects of accounting for construction contracts, which is separately covered in A240 - FRS 115: Revenue from Contracts with Customers - Construction Contracts)

Programme Outline

  • Revise the relevant accounting standard and general principles in determining the validity of the amount attributed to long-term/construction contracts.
  • Appraise the inherent risks affecting long-term/construction contracts and explain the controls expected of management and the detection procedures carried out by the auditor to keep risk to acceptable levels.
  • Evaluate key management’s assertions in respect of long-term/construction contracts and plan the nature, extent and timing of substantive procedures to address these assertions.
  • Identify significant areas of management’s judgment to help to direct audit effort to critical areas.
  • Formulate audit procedures to test the amounts attributed to long-term/construction contracts.

Training Methodology
Lecture style, with Exercises/Case Studies
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

An Intermediate to Advanced level programme intended for auditors. Those who like to gain more understanding in the audit of long-term/construction contracts are welcome to attend (Note: Participants are required to have prior knowledge of accounting for construction contracts with performance obligations satisfied over time under FRS 115)

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

15 Apr 2020 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 199.02
For Non-Members: $ 237.54

Programme Facilitator(s)

Goh Kia Hong

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

25 Nov 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Goh Kia Hong

Date & Time

16 Sep 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Goh Kia Hong

Date & Time

02 May 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Goh Kia Hong

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Kia Hong is a senior lecturer at Nanyang Business School (NBS) of Nanyang Technological University (NTU).  He is actively involved in curriculum and pedagogical development in the risk management and assurance courses that he teaches in the bachelor and master degree programmes.  His teaching accolades include the 2015 NBS Accountancy Teacher of the Year and 2015 NBS Teaching Excellence Award for Accounting Division.  He holds a Master of Science (Marketing) from NTU where he was awarded the Dean's Honours List. 

Before joining NTU, Kia Hong was an audit partner of a public accounting firm and had worked as chief executives of companies in Singapore and South Korea. His roles included formulating strategies to meet business objectives, enterprise risk management and leading the teams to ensure seamless operations of the businesses. During the same period, he taught in various public and private institutions in accounting, marketing and entrepreneurship on adjunct arrangements and proactively led the design and development of courses he taught.

Having accumulated a wealth of industry experience prior to joining the academia, he brings real-world insights into his classes, which participants are very appreciative of.
 

Kia Hong is an avid researcher who has published in professional journals and contributed articles to local print media. Kia Hong’s services extend beyond NTU. Notably, he is a regular speaker in the Accounting and Corporate Regulatory Authority (ACRA), the Institute of Singapore Chartered Accountants (ISCA) and Association of Chartered Certified Accountants (ACCA) major conferences and a trainer with ISCA’s continuing professional education. He also provides regular training, consultancy and research work to accounting firms and corporate organisations.  He is a member of ISCA’s judging panel for the prestigious Annual Report Award (ARA) under the Singapore Corporate Awards (SCA) and ISCA’s Investigation and disciplinary panel. He was previously a member of ISCA’s Auditing and Assurance Standards Committee and had worked with ISCA on ACRA’s Practice Monitoring Programme.

Kia Hong is currently the Chairman of Bukit Merah Secondary School Advisory Committee and was awarded the Service to Education Awards by the Ministry of Education in 2006 and 2011.  He is a member of the Inquiry Panel, the body responsible for appointing members of the Review Committees and Inquiry Committees investigating complaints made against advocates and solicitors. He is also a member of Mensa Singapore.
 


Programme Objective
To equip participants with a competent understanding of the audit of contracts with performance obligations satisfied over time, with special emphasis on construction contracts.
 
This course will illustrate the application of FRS 115 and the general principles to guide the auditor in determining the validity of the amount attributed to long-term/construction contracts. The course will also discuss the key assertions with respect to long-term/construction contracts and how to direct audit effort to address these assertions.
 
(Note: This course does not cover the detailed aspects of accounting for construction contracts, which is separately covered in A240 - FRS 115: Revenue from Contracts with Customers - Construction Contracts)

Programme Outline

  • Revise the relevant accounting standard and general principles in determining the validity of the amount attributed to long-term/construction contracts.
  • Appraise the inherent risks affecting long-term/construction contracts and explain the controls expected of management and the detection procedures carried out by the auditor to keep risk to acceptable levels.
  • Evaluate key management’s assertions in respect of long-term/construction contracts and plan the nature, extent and timing of substantive procedures to address these assertions.
  • Identify significant areas of management’s judgment to help to direct audit effort to critical areas.
  • Formulate audit procedures to test the amounts attributed to long-term/construction contracts.

Training Methodology
Lecture style, with Exercises/Case Studies
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

An Intermediate to Advanced level programme intended for auditors. Those who like to gain more understanding in the audit of long-term/construction contracts are welcome to attend (Note: Participants are required to have prior knowledge of accounting for construction contracts with performance obligations satisfied over time under FRS 115)

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Kia Hong is a senior lecturer at Nanyang Business School (NBS) of Nanyang Technological University (NTU).  He is actively involved in curriculum and pedagogical development in the risk management and assurance courses that he teaches in the bachelor and master degree programmes.  His teaching accolades include the 2015 NBS Accountancy Teacher of the Year and 2015 NBS Teaching Excellence Award for Accounting Division.  He holds a Master of Science (Marketing) from NTU where he was awarded the Dean's Honours List. 

Before joining NTU, Kia Hong was an audit partner of a public accounting firm and had worked as chief executives of companies in Singapore and South Korea. His roles included formulating strategies to meet business objectives, enterprise risk management and leading the teams to ensure seamless operations of the businesses. During the same period, he taught in various public and private institutions in accounting, marketing and entrepreneurship on adjunct arrangements and proactively led the design and development of courses he taught.

Having accumulated a wealth of industry experience prior to joining the academia, he brings real-world insights into his classes, which participants are very appreciative of.
 

Kia Hong is an avid researcher who has published in professional journals and contributed articles to local print media. Kia Hong’s services extend beyond NTU. Notably, he is a regular speaker in the Accounting and Corporate Regulatory Authority (ACRA), the Institute of Singapore Chartered Accountants (ISCA) and Association of Chartered Certified Accountants (ACCA) major conferences and a trainer with ISCA’s continuing professional education. He also provides regular training, consultancy and research work to accounting firms and corporate organisations.  He is a member of ISCA’s judging panel for the prestigious Annual Report Award (ARA) under the Singapore Corporate Awards (SCA) and ISCA’s Investigation and disciplinary panel. He was previously a member of ISCA’s Auditing and Assurance Standards Committee and had worked with ISCA on ACRA’s Practice Monitoring Programme.

Kia Hong is currently the Chairman of Bukit Merah Secondary School Advisory Committee and was awarded the Service to Education Awards by the Ministry of Education in 2006 and 2011.  He is a member of the Inquiry Panel, the body responsible for appointing members of the Review Committees and Inquiry Committees investigating complaints made against advocates and solicitors. He is also a member of Mensa Singapore.
 

Upcoming Schedule

Date & Time

15 Apr 2020 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

For Members: $ 199.02
For Non-Members: $ 237.54

Programme Facilitator(s)

Goh Kia Hong

Venue

60 Cecil Street
ISCA House
Singapore 049709