Course Detail(A241 : Technical Update (FRS 115 / FRS 109) for Auditors)

A241 : Technical Update (FRS 115 / FRS 109) for Auditors

4.00 CPE Hours (Category 1, Category 3)
Classroom


Note: This course is suitable for auditors at foundational to intermediate level (i.e. associate, senior associate and assistant managers).

Programme Objective
 
Accounting standards are constantly changing due to improvements, amendments and new issues, thus keeping up to date with technical accounting changes is imperative for all auditors. To what extent the audit work is affected by these changes?
 
The objective of this half day course is to provide an overview of the recent changes in the areas of key financial reporting standards FRS 115 and 109, and how these changes will affect the auditors in their work. Designed specifically for auditors at foundational to intermediate level, this course will provide practical guidance on how to address these two key FRS changes in the course of their audit. 
 

Programme Outline


Technical update on key financial reporting standards:
 
a) FRS 115 – Revenue from Contracts with Customers (effective 1 Jan 2018)

  • Introduction to the 5-step framework of FRS 115
  • Other considerations for FRS 115 – contract modifications and contract costs
  • Effective date and transition options
  • Disclosure requirements
  • The effect on audit evidence and audit procedures from the perspective of audit working paper preparers
 
b) FRS 109 – Financial Instruments (effective 1 Jan 2018)
  • Scope and key changes in FRS 109
  • Classification of financial assets and financial liabilities
  • Impairment and the expected credit loss model
  • Effective date and transition options
  • The effect on audit evidence and audit procedures from the perspective of audit working paper preparers
 
Training Methodology
 
Lecture style with case studies

Closing Date for Registration 

1 Week before Programme or Until Full Enrolment

Intended For

This Foundation to Intermediate level programme is intended for audit associate, senior associate and assistant managers.

Competency Mapping

Category 1 = 3.00 Hours
Category 3 = 1.00 Hours

Schedule & Fees

Date & Time

28 Nov 2018 (9:00 AM - 1:00 PM)

Registration is closed

Programme Facilitator(s)

Narissa Chen

Date & Time

20 Sep 2018 (9:00 AM - 1:00 PM)

Registration is closed

Programme Facilitator(s)

Narissa Chen

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Narissa Chen
Partner, Technical, Training and Talent
Mazars LLP
 
Narissa is Mazars Singapore Partner in-charge for Technical, Training and Talent and is a Chartered Accountant of Singapore, with over 12 years of professional practice experience in auditing and technical research. She researches complex technical matters and conducts technical reviews for compliance with International/Singapore financial reporting standards and auditing standards.  She provides independent technical advice to clients and has experience as an expert witness related to her topics of expertise. In addition to contributing to in-house and external technical publications, Narissa develops training materials and delivers training to local and international audience via various platforms such as live classroom, video conference or e-learning in either English or Mandarin.

Prior to her current dedicated technical and training role, Narissa had more than 5 years of experience in developing and implementing quality control policies and procedures related to International/Singapore standards on quality control, as well as conducting cross-border quality and compliance reviews. Her industry audit experience includes transportation such as automotive and shipping, retail, manufacturing, trading, and investment holding. She also has experience in initial public offerings, audit of listed entities and financial due diligence projects.


Note: This course is suitable for auditors at foundational to intermediate level (i.e. associate, senior associate and assistant managers).

Programme Objective
 
Accounting standards are constantly changing due to improvements, amendments and new issues, thus keeping up to date with technical accounting changes is imperative for all auditors. To what extent the audit work is affected by these changes?
 
The objective of this half day course is to provide an overview of the recent changes in the areas of key financial reporting standards FRS 115 and 109, and how these changes will affect the auditors in their work. Designed specifically for auditors at foundational to intermediate level, this course will provide practical guidance on how to address these two key FRS changes in the course of their audit. 
 

Programme Outline


Technical update on key financial reporting standards:
 
a) FRS 115 – Revenue from Contracts with Customers (effective 1 Jan 2018)

  • Introduction to the 5-step framework of FRS 115
  • Other considerations for FRS 115 – contract modifications and contract costs
  • Effective date and transition options
  • Disclosure requirements
  • The effect on audit evidence and audit procedures from the perspective of audit working paper preparers
 
b) FRS 109 – Financial Instruments (effective 1 Jan 2018)
  • Scope and key changes in FRS 109
  • Classification of financial assets and financial liabilities
  • Impairment and the expected credit loss model
  • Effective date and transition options
  • The effect on audit evidence and audit procedures from the perspective of audit working paper preparers
 
Training Methodology
 
Lecture style with case studies

Closing Date for Registration 

1 Week before Programme or Until Full Enrolment

Intended For

This Foundation to Intermediate level programme is intended for audit associate, senior associate and assistant managers.

Competency Mapping

Category 1 = 3.00 Hours
Category 3 = 1.00 Hours

Programme Facilitator(s)

Narissa Chen
Partner, Technical, Training and Talent
Mazars LLP
 
Narissa is Mazars Singapore Partner in-charge for Technical, Training and Talent and is a Chartered Accountant of Singapore, with over 12 years of professional practice experience in auditing and technical research. She researches complex technical matters and conducts technical reviews for compliance with International/Singapore financial reporting standards and auditing standards.  She provides independent technical advice to clients and has experience as an expert witness related to her topics of expertise. In addition to contributing to in-house and external technical publications, Narissa develops training materials and delivers training to local and international audience via various platforms such as live classroom, video conference or e-learning in either English or Mandarin.

Prior to her current dedicated technical and training role, Narissa had more than 5 years of experience in developing and implementing quality control policies and procedures related to International/Singapore standards on quality control, as well as conducting cross-border quality and compliance reviews. Her industry audit experience includes transportation such as automotive and shipping, retail, manufacturing, trading, and investment holding. She also has experience in initial public offerings, audit of listed entities and financial due diligence projects.

Upcoming Schedule

Registration is closed

Date & Time

28 Nov 2018 (9:00 AM - 1:00 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Narissa Chen

Venue

137 Cecil Street
Level 3
Hengda Building
Singapore 069537