Course Detail(ADT139 : Audit of Government Grants under SB-FRS/FRS 20 and its related Interpretations and Guidance (Live Webinar))

ADT139 : Audit of Government Grants under SB-FRS/FRS 20 and its related Interpretations and Guidance (Live Webinar)

3.50 CPE Hours (Category 3)
Classroom

NOTE:

In view of the COVID-19 situation, selected ISCA’s CPE courses/sessions will be conducting via Live Webinar.

Please do check the details before registering for the course/session.

Programme Objective
 
To provide audit and finance professionals with guidance on the Audit of Government Grants. This course will also cover the key provisions from Singapore Standards on Auditing which are relevant to the audit of government grants.

Programme Outline

 

1. To walkthrough key provisions and discuss problems in application with illustration on the following grant standards/guidance
  • SB-FRS/FRS 20 – Accounting for government grants and Disclosure of government assistance
  • INT SB-FRS 10/INT FRS 10 - Government assistance – No specific Relation to operating activities
  • INT SB-FRS 112/INT FRS 112 – Service concession arrangement
  • INT SB-FRS 121/INT FRS 121 – Levies
  • SB-FRS Guidance notes

 

2. To discuss with illustration on the key provisions from Singapore Standards on Auditing which are relevant to audit of government grants such as:
  • Planning
  • Sample selections
  • Assertions
  • Sufficient and approach audit evidence
  • Journal entries and management override
  • Walkthrough test and test of controls
  • Written representation as audit evidence

 

3. To discuss common pitfalls/issues using case study in audit of government grants in relation to:
  • Operating grants
  • Capital grants
  • Government assistance
  • Subsidized loans
  • Subventions
  • General and restricted grants
  • Dominations
  • Sponsorship

 4. To discuss and illustrate on the audit reports (e.g. AUP and other specific audit report) to be issued based on the requirements
 

5. To discuss/Illustrate with examples/case studies on auditing of the major grants available from government/statutory boards such as:
  • SPRING
  • EDB
  • IE
  • IRAS, etc.

 6. Using example to illustrate key financial statement reporting and disclosure requirement for government grants

Training Methodology
 
Lecture style with exercises, practical case studies and problems-based-learning
 
Closing Date for Registration

1 week before programme or until full enrolment

Intended For

This programme is intended for audit and finance professional that need guidance and who like to understand more on the Auditing for Government Grants

Competency Mapping

Category 3 = 3.50 Hours

Schedule & Fees

Date & Time

06 Aug 2020 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

01 Nov 2019 (2:00 PM - 5:30 PM)

Registration is closed

Programme Facilitator(s)

Dr Chinnu Palanivelu

Date & Time

09 Nov 2018 (2:00 PM - 5:30 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.

NOTE:

In view of the COVID-19 situation, selected ISCA’s CPE courses/sessions will be conducting via Live Webinar.

Please do check the details before registering for the course/session.

Programme Objective
 
To provide audit and finance professionals with guidance on the Audit of Government Grants. This course will also cover the key provisions from Singapore Standards on Auditing which are relevant to the audit of government grants.

Programme Outline

 

1. To walkthrough key provisions and discuss problems in application with illustration on the following grant standards/guidance
  • SB-FRS/FRS 20 – Accounting for government grants and Disclosure of government assistance
  • INT SB-FRS 10/INT FRS 10 - Government assistance – No specific Relation to operating activities
  • INT SB-FRS 112/INT FRS 112 – Service concession arrangement
  • INT SB-FRS 121/INT FRS 121 – Levies
  • SB-FRS Guidance notes

 

2. To discuss with illustration on the key provisions from Singapore Standards on Auditing which are relevant to audit of government grants such as:
  • Planning
  • Sample selections
  • Assertions
  • Sufficient and approach audit evidence
  • Journal entries and management override
  • Walkthrough test and test of controls
  • Written representation as audit evidence

 

3. To discuss common pitfalls/issues using case study in audit of government grants in relation to:
  • Operating grants
  • Capital grants
  • Government assistance
  • Subsidized loans
  • Subventions
  • General and restricted grants
  • Dominations
  • Sponsorship

 4. To discuss and illustrate on the audit reports (e.g. AUP and other specific audit report) to be issued based on the requirements
 

5. To discuss/Illustrate with examples/case studies on auditing of the major grants available from government/statutory boards such as:
  • SPRING
  • EDB
  • IE
  • IRAS, etc.

 6. Using example to illustrate key financial statement reporting and disclosure requirement for government grants

Training Methodology
 
Lecture style with exercises, practical case studies and problems-based-learning
 
Closing Date for Registration

1 week before programme or until full enrolment

Intended For

This programme is intended for audit and finance professional that need guidance and who like to understand more on the Auditing for Government Grants

Competency Mapping

Category 3 = 3.50 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

06 Aug 2020 (2:00 PM - 5:30 PM)

Fee (inclusive of GST)

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

Programme Facilitator(s)

Dr Chinnu Palanivelu

Venue

Online Classroom in or outside of
Singapore