Course Detail(ADT127 : Audit of Statutory Boards and Government-linked companies)

ADT127 : Audit of Statutory Boards and Government-linked companies

7.00 CPE Hours (Category 3)
Classroom

Programme Objective

To provide audit professionals with guidance on the key aspects of audit of Statutory Boards and Government-linked companies. This course will cover from audit planning to finalization and reporting to audit committees and the management.

Programme Outline

a) Overview of audit of Statutory Boards and Government-linked companies

b) Additional opinion on compliance with legal and regulatory requirements

- Develop an understanding on Audit Guidance Statement (AGS) 9 requirements

- Discuss audit procedures to meet AGS 9 requirements on the receipts, expenditure, investment of moneys and the acquisition and disposal of assets by the statutory boards

- Analyse audit strategy and procedures to be performed on supplementary Guidance notes:

  • Note 1 - Accounting and disclosure for funds and grants and accumulated surplus and reserves

  • Note 2 - Accounting and disclosure for donations

  • Note 3 - Accounting and disclosure for trust funds

  • Note 4 - Related party disclosures

  • Note 5 - Reporting of CPF contributions and key management personnel compensation

  • Note 6 - Disclosure on management entities

c) Off balance sheet items

- Audit  strategy for fund held and managed by statutory boards on behalf of ministries/government

d) Analyse and discuss audit strategy and procedures to be performed on common financial statement items applicable for statutory boards but may not applicable for most companies

- Centralized liquidity management scheme – administered by AGD 

- Operating grant and capital grant including treatment of deferred capital grant and advance grants

- Contribution to consolidated fund

- Advance from government

- Capital account

- GST treatment

- Subsidiaries held on behalf of government and ministries

- Restriction on the disclosure of transactions with government and ministries and statutory boards


Training Methodology

Lecture style with exercises, practical case studies and problem-based learning

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

An intermediate to advanced level programmme intended for practicing and non-practicing Accountants and auditors. Senior audit professionals who like to understand more about audit of Statutory Boards and Government-linked companies are welcome to attend.

Competency Mapping

Category 3 = 7.00 Hours

Schedule & Fees

Date & Time

12 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

17 Jul 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

07 Nov 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


User-added image
 

Dr Chinnu Palanivelu, FCA (Singapore), ACA (England and Wales), FCCA (UK), CPA (Australia), AMA (Australia), FAIA, D.Litt. (Finance), MBA (Finance), BSc (Hons) Accounting, GRCA (USA), Dip IFRS, Cert IAS, ATP (Income Tax), Dip Tax.

 

Dr Chinnu is currently an Audit Partner and Head of Audit at Stamford Assurance PAC, an award-winning medium size audit practice. He worked with one of Big5 international audit firm for a decade and small and medium-size practices for few years before co-founding Stamford Assurance PAC. Prior to embarking audit career, Dr Chinnu held various finance and operations related to appointments with large construction and properly development group for a decade.

He has served for a wide range of clients including SGX-listed companies including few fund management companies, several US SEC registrants, subsidiaries of large multi-national corporations, significant subsidiaries of overseas listed companies, societies, charities, co-operatives, statutory boards, government linked companies, private equity funds and small and medium enterprises and owner-managed business. He also carried out pre-IPO audit, fraud investigation work and internal audit, etc. 

He is a regular trainer in ISCA’s CPE in several core auditing and financial reporting courses. He is also Adjunct Lecturer for Singapore CA, ICAEW professional courses, James Cook University’s degree and master degree courses. Dr Chinnu also conducted in-house training and technical consulting assignments for more than 30 small-medium practices. He has passion for training and development and has conducted numerous presentations which include seminars organised by the James Cook University, ISCA, Kaplan, London School of Business and Finance, National Council of Social Service, and Republic Polytechnic, just to name a few.

He is currently serving and has served in many public and civic institutions in various capacities, including: Ministry of Education, Ministry of Social and Family  Development, Ministry of Culture, Community and Youth, National Youth Council, Youth Corp Singapore, London School of Business and Finance, SCAPE, Singapore National Paralympic Council, ACCA, Singapore Disability Sports Council, People’s Association, Association for Person with Special Needs, SHINE Childers and Youth Service, Singapore Disability Sports Council, The Society of Kalai Pithers, Toastmasters Club, SAA Global Education and Association of Certified Fraud Examiners. He also chaired audit committee of Association for Person with Special Needs, SCAPE and also served member of finance, investment, tender, Marketing, Programe committees, Honorary Treasurer and Auditor of various charities.

Dr Chinnu received the President award for Lifelong Learner award in 2018, Appreciation Award from People’s Association for community services, Excellent Volunteers Service Awards from National Council of Social Service for contributing to charities and youth at risks institutions and Ministry of Social and Family Development for contribution to Family policies development and initiatives.

Dr Chinnu is also member of American Institute of Certified Public Accountants, American Accounting Association, Singapore Institute of Directors, Association of Certified Fraud Examiners, Institute for Adult Learning Singapore and International Association for Accounting Education and Research.

As a lifelong learner, Dr Chinnu completed Executive Tax Programme from Tax Academy of Singapore, pursuing Graduate Certificate in Digital Strategies and Data Analytics from Singapore Management University, Qualified Listed Company Directors Programe from Singapore Institute of Directors and ICAEW, Higher Education Teaching Certificate from Harvard University and CVA from the NTU.

Programme Objective

To provide audit professionals with guidance on the key aspects of audit of Statutory Boards and Government-linked companies. This course will cover from audit planning to finalization and reporting to audit committees and the management.

Programme Outline

a) Overview of audit of Statutory Boards and Government-linked companies

b) Additional opinion on compliance with legal and regulatory requirements

- Develop an understanding on Audit Guidance Statement (AGS) 9 requirements

- Discuss audit procedures to meet AGS 9 requirements on the receipts, expenditure, investment of moneys and the acquisition and disposal of assets by the statutory boards

- Analyse audit strategy and procedures to be performed on supplementary Guidance notes:

  • Note 1 - Accounting and disclosure for funds and grants and accumulated surplus and reserves

  • Note 2 - Accounting and disclosure for donations

  • Note 3 - Accounting and disclosure for trust funds

  • Note 4 - Related party disclosures

  • Note 5 - Reporting of CPF contributions and key management personnel compensation

  • Note 6 - Disclosure on management entities

c) Off balance sheet items

- Audit  strategy for fund held and managed by statutory boards on behalf of ministries/government

d) Analyse and discuss audit strategy and procedures to be performed on common financial statement items applicable for statutory boards but may not applicable for most companies

- Centralized liquidity management scheme – administered by AGD 

- Operating grant and capital grant including treatment of deferred capital grant and advance grants

- Contribution to consolidated fund

- Advance from government

- Capital account

- GST treatment

- Subsidiaries held on behalf of government and ministries

- Restriction on the disclosure of transactions with government and ministries and statutory boards


Training Methodology

Lecture style with exercises, practical case studies and problem-based learning

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

An intermediate to advanced level programmme intended for practicing and non-practicing Accountants and auditors. Senior audit professionals who like to understand more about audit of Statutory Boards and Government-linked companies are welcome to attend.

Competency Mapping

Category 3 = 7.00 Hours

Programme Facilitator(s)

User-added image
 

Dr Chinnu Palanivelu, FCA (Singapore), ACA (England and Wales), FCCA (UK), CPA (Australia), AMA (Australia), FAIA, D.Litt. (Finance), MBA (Finance), BSc (Hons) Accounting, GRCA (USA), Dip IFRS, Cert IAS, ATP (Income Tax), Dip Tax.

 

Dr Chinnu is currently an Audit Partner and Head of Audit at Stamford Assurance PAC, an award-winning medium size audit practice. He worked with one of Big5 international audit firm for a decade and small and medium-size practices for few years before co-founding Stamford Assurance PAC. Prior to embarking audit career, Dr Chinnu held various finance and operations related to appointments with large construction and properly development group for a decade.

He has served for a wide range of clients including SGX-listed companies including few fund management companies, several US SEC registrants, subsidiaries of large multi-national corporations, significant subsidiaries of overseas listed companies, societies, charities, co-operatives, statutory boards, government linked companies, private equity funds and small and medium enterprises and owner-managed business. He also carried out pre-IPO audit, fraud investigation work and internal audit, etc. 

He is a regular trainer in ISCA’s CPE in several core auditing and financial reporting courses. He is also Adjunct Lecturer for Singapore CA, ICAEW professional courses, James Cook University’s degree and master degree courses. Dr Chinnu also conducted in-house training and technical consulting assignments for more than 30 small-medium practices. He has passion for training and development and has conducted numerous presentations which include seminars organised by the James Cook University, ISCA, Kaplan, London School of Business and Finance, National Council of Social Service, and Republic Polytechnic, just to name a few.

He is currently serving and has served in many public and civic institutions in various capacities, including: Ministry of Education, Ministry of Social and Family  Development, Ministry of Culture, Community and Youth, National Youth Council, Youth Corp Singapore, London School of Business and Finance, SCAPE, Singapore National Paralympic Council, ACCA, Singapore Disability Sports Council, People’s Association, Association for Person with Special Needs, SHINE Childers and Youth Service, Singapore Disability Sports Council, The Society of Kalai Pithers, Toastmasters Club, SAA Global Education and Association of Certified Fraud Examiners. He also chaired audit committee of Association for Person with Special Needs, SCAPE and also served member of finance, investment, tender, Marketing, Programe committees, Honorary Treasurer and Auditor of various charities.

Dr Chinnu received the President award for Lifelong Learner award in 2018, Appreciation Award from People’s Association for community services, Excellent Volunteers Service Awards from National Council of Social Service for contributing to charities and youth at risks institutions and Ministry of Social and Family Development for contribution to Family policies development and initiatives.

Dr Chinnu is also member of American Institute of Certified Public Accountants, American Accounting Association, Singapore Institute of Directors, Association of Certified Fraud Examiners, Institute for Adult Learning Singapore and International Association for Accounting Education and Research.

As a lifelong learner, Dr Chinnu completed Executive Tax Programme from Tax Academy of Singapore, pursuing Graduate Certificate in Digital Strategies and Data Analytics from Singapore Management University, Qualified Listed Company Directors Programe from Singapore Institute of Directors and ICAEW, Higher Education Teaching Certificate from Harvard University and CVA from the NTU.


Upcoming Schedule

Registration is closed

Date & Time

12 Nov 2018 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 329.56
For Non-Members: $ 398.04

Programme Facilitator(s)

Dr Chinnu Palanivelu

Venue

60 Cecil Street
ISCA House
Singapore 049709