Course Detail(ADT163 : Audit of Leases under the new FRS 116 Regime)

ADT163 : Audit of Leases under the new FRS 116 Regime NEW

3.50 CPE Hours (Category 3)
Classroom
In Collaboration with:  


Programme Objective
To provide audit professionals with guidance on the audit of leases. This course will also cover the key concepts of FRS 116 and discuss the key auditing issues arising from adoption of FRS 116 and how auditors can tackle these issues.

Programme Outline

  • Review the key concepts of FRS 116, including an overview of the presentation and disclosure requirements.
  • Identify and assess the risks of material misstatement at assertion level for leases taking into account relevant mitigating client internal controls.
  • Appreciate the audit approach and design appropriate audit procedures to test the primary financial statement assertions for leases.
  • Evaluate the audit findings and draw appropriate audit conclusions for leases.
  • Review management’s classification and presentation of lease liability and right-of-use asset in the financial statements.
  • Discuss the practical issues and challenges that auditors may encounter and what they need to look out for under the new leasing rules.

Case studies / specific examples of certain industries will be used to illustrate the key concepts.
 
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 Audit professionals.

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

10 Jul 2020 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Ng Kian Hui/Poh Chin Beng

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

06 Nov 2020 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Ng Kian Hui/Poh Chin Beng

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

07 Nov 2019 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Ng Kian Hui/Poh Chin Beng

Date & Time

10 Jul 2019 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

Ng Kian Hui/Poh Chin Beng

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Either one of the following will facilitate the session:

Ng Kian Hui
Partner, Audit & Assurance
BDO LLP


Kian Hui has more than 20 years of experience in providing auditing and assurance services to clients in Singapore and China. His clients are owner-managed companies, state owned enterprise, listed companies and multinational corporation in diverse industries including oil & gas, education, manufacturing, trading, construction, property development, shipping, and utilities. These clients have operations in South East Asia, Australia, New Zealand, China, India, Kazakhstan, Switzerland and the United States of America.

His expertise in audit and assurance covers statutory audits, accounting advisory, internal audit, pre-IPO audits as well as reporting accountant for IPO engagements.

Kian Hui is the IFRS Country Leader of BDO Singapore under the BDO IFRS Global Team as well as a member of the BDO Singapore Accounting Technical Committee.
 
Professional Qualifications and Affiliations:
  • Practising Member of The Institute of Singapore Chartered Accountants (ISCA)
  • Bachelor of Accountancy from Nanyang Technological University (Hons)
  • Member of the Assurance and Auditing Standards Committee, ISCA
  • Deputy Chairman of the Revenue Working Group, Financial Reporting Committee, ISCA
 
Poh Chin Beng
Partner, Audit & Assurance
BDO LLP


Chin Beng has more than 16 years of experience in providing auditing and assurance services to clients in Singapore. He also has 4 years of experience covering the Asia Pacific countries as regional internal auditor and regional financial controller with a global top 5 Swiss pharmaceutical MNC and a Nasdaq listed US electronics MNC respectively.

His clients comprise listed companies, multinational corporations, growth enterprises and statutory boards in diverse industries including biotechnology, engineering & construction, education, events & exhibition, fast moving consumer products, food & beverage, hospitality & leisure, industrial products, logistics & supply chain, manufacturing, mobile apps developer, real estate and shipping.

Chin Beng also conduct external (and internal) training and seminars on auditing and accounting subject matters.

Professional Qualifications and Affiliations:
  • Practising Member of the Institute of Singapore Chartered Accountants (ISCA)
  • Certified Internal Auditor of the Institute of Internal Auditors (IIA)
  • Bachelor of Accountancy Degree (Honours, 2nd Upper), Nanyang Technological University, Singapore


Programme Objective
To provide audit professionals with guidance on the audit of leases. This course will also cover the key concepts of FRS 116 and discuss the key auditing issues arising from adoption of FRS 116 and how auditors can tackle these issues.

Programme Outline

  • Review the key concepts of FRS 116, including an overview of the presentation and disclosure requirements.
  • Identify and assess the risks of material misstatement at assertion level for leases taking into account relevant mitigating client internal controls.
  • Appreciate the audit approach and design appropriate audit procedures to test the primary financial statement assertions for leases.
  • Evaluate the audit findings and draw appropriate audit conclusions for leases.
  • Review management’s classification and presentation of lease liability and right-of-use asset in the financial statements.
  • Discuss the practical issues and challenges that auditors may encounter and what they need to look out for under the new leasing rules.

Case studies / specific examples of certain industries will be used to illustrate the key concepts.
 
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 Audit professionals.

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Either one of the following will facilitate the session:

Ng Kian Hui
Partner, Audit & Assurance
BDO LLP


Kian Hui has more than 20 years of experience in providing auditing and assurance services to clients in Singapore and China. His clients are owner-managed companies, state owned enterprise, listed companies and multinational corporation in diverse industries including oil & gas, education, manufacturing, trading, construction, property development, shipping, and utilities. These clients have operations in South East Asia, Australia, New Zealand, China, India, Kazakhstan, Switzerland and the United States of America.

His expertise in audit and assurance covers statutory audits, accounting advisory, internal audit, pre-IPO audits as well as reporting accountant for IPO engagements.

Kian Hui is the IFRS Country Leader of BDO Singapore under the BDO IFRS Global Team as well as a member of the BDO Singapore Accounting Technical Committee.
 
Professional Qualifications and Affiliations:
  • Practising Member of The Institute of Singapore Chartered Accountants (ISCA)
  • Bachelor of Accountancy from Nanyang Technological University (Hons)
  • Member of the Assurance and Auditing Standards Committee, ISCA
  • Deputy Chairman of the Revenue Working Group, Financial Reporting Committee, ISCA
 
Poh Chin Beng
Partner, Audit & Assurance
BDO LLP


Chin Beng has more than 16 years of experience in providing auditing and assurance services to clients in Singapore. He also has 4 years of experience covering the Asia Pacific countries as regional internal auditor and regional financial controller with a global top 5 Swiss pharmaceutical MNC and a Nasdaq listed US electronics MNC respectively.

His clients comprise listed companies, multinational corporations, growth enterprises and statutory boards in diverse industries including biotechnology, engineering & construction, education, events & exhibition, fast moving consumer products, food & beverage, hospitality & leisure, industrial products, logistics & supply chain, manufacturing, mobile apps developer, real estate and shipping.

Chin Beng also conduct external (and internal) training and seminars on auditing and accounting subject matters.

Professional Qualifications and Affiliations:
  • Practising Member of the Institute of Singapore Chartered Accountants (ISCA)
  • Certified Internal Auditor of the Institute of Internal Auditors (IIA)
  • Bachelor of Accountancy Degree (Honours, 2nd Upper), Nanyang Technological University, Singapore

Upcoming Schedule

Date & Time

10 Jul 2020 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Ng Kian Hui/Poh Chin Beng

Venue

60 Cecil Street
ISCA House
Singapore 049709