Course Detail(ADT051 : Evaluation of Subsequent Events, Contingent Liabilities, and the Going Concern Assumption)

ADT051 : Evaluation of Subsequent Events, Contingent Liabilities, and the Going Concern Assumption

3.50 CPE Hours (Category 3)
Classroom

Programme Objective

To provide audit professionals with guidance on the identification and assessment of subsequent events, contingent liabilities, and going concern issues. This course will also cover aspects of the accounting treatments and disclosure requirements for subsequent events, contingent liabilities and going concern uncertainties.

Programme Outline

  1. Understanding the auditor’s responsibility for evaluating subsequent events, contingent liabilities, and the going concern assumption.
  2. Designing and performing audit procedures to identify subsequent events, contingent liabilities and threats to the going concern assumption.
  3. Obtaining sufficient appropriate evidence to evaluate subsequent events, contingent liabilities and the appropriateness of management’s use of the going concern assumption in preparing the financial statements.
  4. Relying on evidence provided by other parties including in-house and external legal counsel.
  5. Obtaining written representations on information used by the auditor.
  6. Communicating with those charged with governance on events or conditions identified that may cast significant doubt on the client’s ability to continue as a going concern.
  7. Assessing the implications of subsequent events, contingent liabilities and going concern uncertainties for the type of audit report issued.


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 both Practising and Non-Practising Accountants and Auditors. Those who like to gain more understanding in the evaluation of subsequent events, contingent liabilities, and the going concern assumptionare welcome to attend.

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

23 Oct 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Monica Yong

Date & Time

05 Nov 2018 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Monica Yong

Date & Time

14 Nov 2017 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Monica Yong

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Monica Yong
Fellow Chartered Accountant of Singapore

 
Monica is currently an Audit Partner Designate at HLB Atrede LLP.  She has more than 20 years of industry experience and is a Fellow Chartered Accountant of Singapore. 
 
Monica stated her career in Ernst & Young after her graduation from the Nanyang Technological University.  She left Ernst & Young after obtaining her practising licence in 1999 where she co-founded one of the predecessor firms of HLB Atrede LLP.  Her experiences included audit of companies from the airlines, healthcare, retail, property management, manufacturing and services industries.
 
Prior to re-joining HLB Atrede LLP, Monica was the Deputy Director of the Practice Monitoring Department at the Institute of Chartered Accountants of Singapore (ISCA).  She assisted to direct and oversees the inspection team and works closely with the Accounting and Corporate Regulatory Authority (ACRA).  She was also instrumental to the development of the Quality Assurance Framework and rolling out the key initiatives in ISCA to raise audit quality for the auditing profession in Singapore. 
 
Monica also has vast commercial experience as the group Chief Financial Officer of a healthcare group of companies for seven years.  The healthcare group had offices in Singapore, China, Hong Kong and Malaysia. Her responsibilities included strategic leadership in the areas of financial reporting, human resources management, training, corporate affairs and regulatory compliance matters.
 
Monica has spoken in public seminars on topic related to practice monitoring and audit quality.
 

Programme Objective

To provide audit professionals with guidance on the identification and assessment of subsequent events, contingent liabilities, and going concern issues. This course will also cover aspects of the accounting treatments and disclosure requirements for subsequent events, contingent liabilities and going concern uncertainties.

Programme Outline

  1. Understanding the auditor’s responsibility for evaluating subsequent events, contingent liabilities, and the going concern assumption.
  2. Designing and performing audit procedures to identify subsequent events, contingent liabilities and threats to the going concern assumption.
  3. Obtaining sufficient appropriate evidence to evaluate subsequent events, contingent liabilities and the appropriateness of management’s use of the going concern assumption in preparing the financial statements.
  4. Relying on evidence provided by other parties including in-house and external legal counsel.
  5. Obtaining written representations on information used by the auditor.
  6. Communicating with those charged with governance on events or conditions identified that may cast significant doubt on the client’s ability to continue as a going concern.
  7. Assessing the implications of subsequent events, contingent liabilities and going concern uncertainties for the type of audit report issued.


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 both Practising and Non-Practising Accountants and Auditors. Those who like to gain more understanding in the evaluation of subsequent events, contingent liabilities, and the going concern assumptionare welcome to attend.

Competency Mapping

Category 3 = 3.50 Hours

Programme Facilitator(s)

Monica Yong
Fellow Chartered Accountant of Singapore

 
Monica is currently an Audit Partner Designate at HLB Atrede LLP.  She has more than 20 years of industry experience and is a Fellow Chartered Accountant of Singapore. 
 
Monica stated her career in Ernst & Young after her graduation from the Nanyang Technological University.  She left Ernst & Young after obtaining her practising licence in 1999 where she co-founded one of the predecessor firms of HLB Atrede LLP.  Her experiences included audit of companies from the airlines, healthcare, retail, property management, manufacturing and services industries.
 
Prior to re-joining HLB Atrede LLP, Monica was the Deputy Director of the Practice Monitoring Department at the Institute of Chartered Accountants of Singapore (ISCA).  She assisted to direct and oversees the inspection team and works closely with the Accounting and Corporate Regulatory Authority (ACRA).  She was also instrumental to the development of the Quality Assurance Framework and rolling out the key initiatives in ISCA to raise audit quality for the auditing profession in Singapore. 
 
Monica also has vast commercial experience as the group Chief Financial Officer of a healthcare group of companies for seven years.  The healthcare group had offices in Singapore, China, Hong Kong and Malaysia. Her responsibilities included strategic leadership in the areas of financial reporting, human resources management, training, corporate affairs and regulatory compliance matters.
 
Monica has spoken in public seminars on topic related to practice monitoring and audit quality.
 

Upcoming Schedule

Registration is closed

Date & Time

23 Oct 2019 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Monica Yong

Venue

60 Cecil Street
ISCA House
Singapore 049709