Course Detail(LS023A : Negligence - what you should know)

LS023A : Negligence - what you should know

7.00 CPE Hours (Others)
Classroom

Programme Objective

Every professional including the accountant and the auditor owes a duty of care to a class of persons appropriate to the particular case. There will be occasions when the role of the accountant or the auditor will present great difficulty, whether due to the complexity of the transactions of the relevant company or business or limited information or lack of co-operation provided by the directors and/or employees of the company or business itself. In such situations, it is critical that the accountant or auditor be fully aware of his duties and responsibilities under the law including the scope of the terms of his engagement thereby placing him in a situation where he can anticipate problems and address the same.

 

This full day course will adopt a case-based approach to discussing the scope of the duties of the accountant and the auditor. This will consist of a discussion of decided cases involving allegations of a breach of duty of care on the part of accountants and auditors with a view to illustrating the matters set out in the Programme Objective below.

Programme Outline

This course will deal with the following matters:

  • The scope of the duty of care of the accountant or auditor including the use of engagement letters and the relevance of professional standards;

  • The person or persons to whom the said standard of care is owed. For instance, is a duty of care owed in certain circumstances not only to a client but the client’s investors?;

  • The manner by which loss is quantified in the event there is a breach of the duty on the part of the accountant or auditor and the manner by which loss may be mitigated;

  • The nature of the role of the statutory auditor under Section 205 of the Companies Act; and

  • Brief review of relevant aspects of the Singapore Standards of Auditing.

Cases to be discussed include but are not limited to the following:

  • Caparo Industries plc v. Dickman which discussed generally when the accountant’s liability may arise;

  • Arrowhead Capital Finance v KPMG LLP which discussed whether an accounting firm was liable to the investors of its client for the firm’s breach of duty;

  • Mehjoo v. Harben Barker (a firm) & Anor which discussed the importance of the retainer letter in defining the scope of the accountant’s liability; and

  • JSI Shipping (S) Pte Ltd v. Teofoongwonglcloong (a firm) and PlanAssure PAC (formerly known as Patrick Lee PAC) v. Gaelic Inns
    which discussed the role of the statutory auditor and his scope of duty.


Training Methodology
Lecture style and case studies.

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

This programme is suitable for all accountants and auditors.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

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

Registration is closed

Programme Facilitator(s)

Khaleel Namazie

Date & Time

03 Jul 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Khaleel Namazie

Date & Time

28 Nov 2016 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Khaleel Namazie

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Khaleel Namazie

Apart from his experience in advising local and international clients in private practice on a variety of commercial, corporate and litigation matters, Khaleel Namazie has worked in the Asia Pacific Legal Department of Hewlett-Packard Singapore Pte Ltd as a Commercial Contracts Manager with special responsibility for the Asia Emerging Countries of Pakistan, Bangladesh and Vietnam and with Singapore Telecommunications Limited as Senior Legal Counsel as part of the SingTel Global Offices team. During that time, Khaleel was also responsible for negotiating the legal aspects of a number of high value telecommunications and IT agreements with a significant number of Fortune 500 companies.

Khaleel is particularly interested in corporate governance, outsourcing and the legal and regulatory aspects of emerging technology such as virtual space, online gaming and cloud computing. He is also a regular speaker at a number of seminars and workshops in Singapore and overseas and has spoken at several conferences on a variety of subjects, including company law, employment law, technology licensing, privacy and data protection, the law and regulation of online gambling in Singapore & legal issues relating to service level agreements.

Khaleel was admitted as an Advocate & Solicitor of the Supreme Court of Singapore in 1994. He is also a member of the Law Society of England & Wales. He read for a Bachelor’s Degree in Law at the National University of Singapore and for a Master’s Degree in Computer and Communications Law at Queen Mary & Westfield College, University of London, the component subjects which were Information Technology Law, Intellectual Property Law, Telecommunications Law, Electronic Banking Law and Internet Law.

Programme Objective

Every professional including the accountant and the auditor owes a duty of care to a class of persons appropriate to the particular case. There will be occasions when the role of the accountant or the auditor will present great difficulty, whether due to the complexity of the transactions of the relevant company or business or limited information or lack of co-operation provided by the directors and/or employees of the company or business itself. In such situations, it is critical that the accountant or auditor be fully aware of his duties and responsibilities under the law including the scope of the terms of his engagement thereby placing him in a situation where he can anticipate problems and address the same.

 

This full day course will adopt a case-based approach to discussing the scope of the duties of the accountant and the auditor. This will consist of a discussion of decided cases involving allegations of a breach of duty of care on the part of accountants and auditors with a view to illustrating the matters set out in the Programme Objective below.

Programme Outline

This course will deal with the following matters:

  • The scope of the duty of care of the accountant or auditor including the use of engagement letters and the relevance of professional standards;

  • The person or persons to whom the said standard of care is owed. For instance, is a duty of care owed in certain circumstances not only to a client but the client’s investors?;

  • The manner by which loss is quantified in the event there is a breach of the duty on the part of the accountant or auditor and the manner by which loss may be mitigated;

  • The nature of the role of the statutory auditor under Section 205 of the Companies Act; and

  • Brief review of relevant aspects of the Singapore Standards of Auditing.

Cases to be discussed include but are not limited to the following:

  • Caparo Industries plc v. Dickman which discussed generally when the accountant’s liability may arise;

  • Arrowhead Capital Finance v KPMG LLP which discussed whether an accounting firm was liable to the investors of its client for the firm’s breach of duty;

  • Mehjoo v. Harben Barker (a firm) & Anor which discussed the importance of the retainer letter in defining the scope of the accountant’s liability; and

  • JSI Shipping (S) Pte Ltd v. Teofoongwonglcloong (a firm) and PlanAssure PAC (formerly known as Patrick Lee PAC) v. Gaelic Inns
    which discussed the role of the statutory auditor and his scope of duty.


Training Methodology
Lecture style and case studies.

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

This programme is suitable for all accountants and auditors.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Khaleel Namazie

Apart from his experience in advising local and international clients in private practice on a variety of commercial, corporate and litigation matters, Khaleel Namazie has worked in the Asia Pacific Legal Department of Hewlett-Packard Singapore Pte Ltd as a Commercial Contracts Manager with special responsibility for the Asia Emerging Countries of Pakistan, Bangladesh and Vietnam and with Singapore Telecommunications Limited as Senior Legal Counsel as part of the SingTel Global Offices team. During that time, Khaleel was also responsible for negotiating the legal aspects of a number of high value telecommunications and IT agreements with a significant number of Fortune 500 companies.

Khaleel is particularly interested in corporate governance, outsourcing and the legal and regulatory aspects of emerging technology such as virtual space, online gaming and cloud computing. He is also a regular speaker at a number of seminars and workshops in Singapore and overseas and has spoken at several conferences on a variety of subjects, including company law, employment law, technology licensing, privacy and data protection, the law and regulation of online gambling in Singapore & legal issues relating to service level agreements.

Khaleel was admitted as an Advocate & Solicitor of the Supreme Court of Singapore in 1994. He is also a member of the Law Society of England & Wales. He read for a Bachelor’s Degree in Law at the National University of Singapore and for a Master’s Degree in Computer and Communications Law at Queen Mary & Westfield College, University of London, the component subjects which were Information Technology Law, Intellectual Property Law, Telecommunications Law, Electronic Banking Law and Internet Law.


Upcoming Schedule

Registration is closed

Date & Time

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

Fee (inclusive of GST)

For Members: $ 321.00
For Non-Members: $ 385.20

Programme Facilitator(s)

Khaleel Namazie

Venue

60 Cecil Street
ISCA House
Singapore 049709