Course Detail(PC2020 : ISCA Practitioners Conference 2020: Strategising for a Resilient Tomorrow)

PC2020 : ISCA Practitioners Conference 2020: Strategising for a Resilient Tomorrow

5.00 CPE Hours (Category 2, Category 3, Others)
Virtual Conference


Group Package at 15% off (Register for 3 or more pax and enjoy the special rate!)

Programme Objective
 

ISCA’s flagship event for practitioners and the final instalment of the Singapore Accountancy and Audit Convention (SAAC) series – The Practitioners Conference – aims to help audit firms find clarity amid chaos. As the world navigates through the challenges of the pandemic and march towards an uncertain 2021, audit practices need to embrace new perspectives, transform and build resilience into their operations and workforce. Firms must be ready to poise themselves for unexpected risks and opportunities.

 

The Practitioners Conference 2020 brings issues of sustainability to the forefront, in addition to pertinent topics such as quality management and ethics. There is no better place to have this conversation about tomorrow than at this event that gathers the practitioners of Singapore. Join us in our first virtual Practitioners Conference, but no less engaging as delegates can still connect with our speakers, panelists and fellow delegates via the interactive platform.


Fees

Categories
Fees (inclusive of GST)
Individual
Member: $171.20
Non-Member: $214.00
Group

 
Register for 3 or more pax and enjoy a 15% discount (at $145.50 per pax)

Programme Outline

 

Time
Topic
8.30 am
Welcome Address

Mr Kon Yin Tong, President, ISCA
 
8.40 am
Keynote Address by Guest-of-Honour
8.50 am
Strategising for a Resilient Tomorrow
 
COVID-19, which started as a health crisis, has since battered a brutal hit on the economy, impacting myriad businesses worldwide. The full ramifications are not yet known and there remain uncertainty what else it might bring. In the same storm, we have seen businesses emerging stronger, while others, even those in the same industry, struggling and going down. How it is that some fare better than others?  
 
Over the last few months, many audit practices have taken immediate actions and successfully executed plans specific to the crisis. This include building the infrastructure and security for their people to telecommute, manging internal costs and liquidity squeeze and even stepping up to share valuable advice to support their clients in overcoming the new complexities brought by the crisis. Beyond these immediate responses, more importantly, has practices capitalise on this unprecedented crisis to transform and build resilience into their operations and workforce? Are practices ready to poise themselves for future new risks or unexpected events?
 
This panel will share insights on how firms can find clarity amid chaos and how they can continue to steer and pivot their practices for future sustainability and growth.
 
Moderator
Mr Michael Heng, Managing Partner, Heng Lee Seng LLP; Member, ISCA Public Accounting Practice Committee
 
Panellists
  • Ms Kuldip Gill, Divisional Director, Public Accountancy Division, Accounting and Corporate Regulatory Authority
  • Mr Philip Yuen, Chief Executive Officer, Deloitte Southeast Asia; Chairman, Deloitte Singapore
  • Mr Tan Kuang Hui, CEO and Managing Partner, Crowe Horwath First Trust LLP
  • Mr Kevin Fitzgerald, Managing Director, Asia, Xero
9.50 am
Raising Audit Quality Through Challenging Times
 
Amidst the rapid transformations experienced by the audit profession, a core objective of ACRA’s Practice Monitoring Programme is to achieve continuous improvement in audit quality. In light of these challenging times, there is all the more reason to deliver high quality audits and in this regard ACRA will be sharing good practices observed from their inspections, and key areas that practitioners should focus on to enhance audit quality.
 
Ms Kuldip Gill, Divisional Director, Public Accountancy Division, Accounting and Corporate Regulatory Authority
 
10.20 am
The Future of Standard-Setting
 
The International Auditing and Assurance Standards Board (IAASB) puts forth its proposed work plan that sets out its initiatives to respond to stakeholder needs and identified challenges and issues, with a focus on quality management and group audits. Hear from the Chair of the ISCA Auditing and Assurance Standards Committee to keep abreast on what is upcoming on the international and local front.
 
Mr Hans Koopmans, Chairman, ISCA Auditing and Assurance Standards Committee; Partner, PricewaterhouseCoopers LLP 
 
10.40 am
Screen Break
10.50 am
Transition from SOR to SORA – Are You on Track?
 
In line with the global shift away from Interbank Offered Rate (IBOR) and towards alternative risk-free rates, Singapore will transition from the Sing-dollar Swap Offer Rate (SOR) to a new interest rate benchmark – Singapore Overnight Rate Average (SORA) by the end of 2021.
 
The change to SORA as a new benchmark will have a significant impact on virtually all entities, and not just financial institutions. SOR based loans and derivatives will no longer exist after the transition. What are the key challenges and implications arising from this profound change? How do entities prepare for a smooth transition?
 
We invite you to tune in for the discussion by our esteemed panellists. They will share their insights on the challenges from this change and on how to navigate the transition.
 
Moderator
Mr Reinhard Klemmer, Chairman, ISCA Financial Reporting Committee; Partner, KPMG LLP
 
Panellists
  • Mr Chen Voon Hoe, Partner, PricewaterhouseCoopers Risk Services Pte Ltd
  • Prof Chua Kim Chiu, Professor (Practice), NUS Business School, National University of Singapore; Chairman of Audit Committee, OCBC Bank
  • Mr Mikkel Larsen, Group Head of Tax and Accounting Policy, DBS; Deputy Chair, Accounting and Tax Sub-Group, Steering Committee for SOR Transition to SORA
11.50 am
Preparing Your Firm for New Quality Management Standards
 
The International Standard on Quality Management (ISQM) 1 and ISQM 2, which are expected to be adopted locally in Q1 2021, bring important changes to the way professional accountancy firms manage quality. This includes a new pro-active risk-based approach to an effective system of quality management that underpins consistent engagement quality. Learn about the key changes arising from these new quality management standards to help kick off a smooth implementation process for your firm.
 
Mr Gajendran Vyapuri, Assurance Partner, Ernst & Young LLP
 
12.20 pm
Developments in Ethics and Professional Independence – Enhancing Public Confidence post COVID-19
 
Auditors are under increased scrutiny to commit to high standards of ethical behaviour, to uphold public interest and public expectations. The COVID-19 pandemic has resulted in uncertainty and unprecedented changes to businesses that may increase instances of fraudulent financial reporting and non-compliance with laws and regulations (NOCLAR). Recent accounting scandals have further put the importance of ethical behaviour of auditors in the spotlight whereby auditors are expected to behave in a manner consistent with their responsibility to act in the public interest. 
 
The International Ethics Standards Board for Accountants has issued proposals to strengthen independence requirements relating to non-assurance services (NAS) and fee-related provisions in the ethics code. ISCA has provided feedback to these proposals in June 2020 together with our recommendations which are supported by the results of a NAS survey we conducted of directors. ISCA will be launching the NAS Survey Findings Report at this Practitioners Conference.
 
Join us to find out how auditors can navigate their way forward to enhance public confidence post Covid-19, hear the views of directors on matters concerning auditor independence and discover best practices relating to NOCLAR.
 
Mr Tan Seng Choon, Chairman, ISCA Ethics Committee; Partner, Assurance, Ernst & Young LLP
 
12.50 pm
2020 Audit Hot Spots
 
The consequences of COVID-19 on financial reporting and audit are complex and challenging. There is an unprecedented uncertainty about the economy, future earnings, liquidity and the estimates that go into the fundamental elements of a set of financial statements. 2020 audits will present new issues that may not have been considered before in prior audits. More than ever, auditors need to approach the 2020 audits with significant professional judgement, scepticism and vigilance. In this segment, the speaker will bring you through some of the key audit challenges and implications from COVID-19 and share how auditors can navigate through the upcoming audit peak.
 
Mr Ng Kian Hui, Audit Partner, Head of Audit & Assurance, BDO LLP
 
1.30 pm
End of Conference


*Please note that the programme is subject to changes without further notice.

Training Methodology

Virtual Conference

Strategic Partners

User-added image


Contact Details

For registration enquiries, please contact Member Services Centre at +65 6749 8060 or cpe@isca.org.sg.
For all other enquiries, please contact qualityassurance@isca.org.sg.

Live Webinar Link

Instructions on how to log in to the live webinar will be sent to the participant's email address that was used during registration.

Closing Date for Registration

1 day before programme or until full enrolment

Intended For

Practitioners and experienced audit professionals

Competency Mapping

Category 2 = 0.50 Hours
Category 3 = 2.00 Hours
Others = 2.50 Hours

Schedule & Fees

Date & Time

22 Oct 2020 (8:30 AM - 1:30 PM)

Fee (inclusive of GST)

For Members: $ 171.20
For Non-Members: $ 214.00

Programme Facilitator(s)

Team of Professionals (PC2020)

Venue

Online Classroom in or outside of
Singapore

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Tan Kuang Hui
CEO and Managing Partner, Crowe Horwath First Trust LLP
 
Professional Summary
Kuang Hui has over 25 years of experience in the audit and financial advisory services, providing these services to a broad range of clients including financial institutions, technology, manufacturing, trading, publishing and agricultural companies.   
 
As the Chief Executive and Managing Partner of Crowe Horwath First Trust LLP, Kuang Hui leads the Singapore firm comprising 12 partners and approximately 200 professionals. He is particularly well versed in PRC business, accounting and tax matters. Kuang Hui is also currently a member of the Board of Directors of Crowe Global.
 
Experience
  • Leading teams to perform audits and advisory of companies listed on the Singapore Exchange.
  • Advising clients on the restructuring and subsequent listing of various companies on the Singapore Exchange.
  • Leading teams to perform due diligence reviews in connection with various proposed acquisitions of companies in Indonesia, China and Singapore.
  • Performing risk control reviews and advising clients on risk control as well as corporate governance issues.
  • Assisting PRC companies to raise financial in capital markets in Singapore.
  • Led projects for the valuations of businesses in various industries located in China.
  • Advising technology clients on block-chain and crypto-currencies.
 
Professional Affiliations
  • Council Member of the Institute of Singapore Chartered Accountants (ISCA)
  • CPA Australia
 
Education
  • Bachelor of Accountancy, Nanyang Technological University, Singapore
 
Kevin Fitzgerald
Managing Director, Asia, Xero
 
Kevin Fitzgerald is Xero’s Regional Director for Asia.
 
Originally from Ireland, Kevin moved to Australia in 2011 and led Financial Services recruitment business for Robert Walters in Melbourne. Previously Kevin has worked with KPMG, Royal Bank of Canada and State Street Bank in Audit, Financial Reporting and Hedge Funds. His career in Xero began in 2015 where he led the Australian sales team as Territory Manager. Kevin has experience working with SME’s from many perspectives, he understands deeply their challenges and works tirelessly with his team at Xero and Xero Partners to help SME’s grow.
 
Kevin moved to Singapore in 2017 and loves spending time with SME’s hearing about their challenges and discussing how Xero can help them.
 
Kevin is a fellow member of the ACCA, the largest Professional Accounting Body globally.
 
Hans Koopmans
Chairman, ISCA Auditing and Assurance Standards Committee
Partner, PricewaterhouseCoopers LLP
 
Professional Experience
Hans is currently an audit partner with PwC Singapore.  He has more than 30 years of experience with the firm in The Netherlands, New Zealand, Indonesia and Singapore. Hans has been involved with some of the largest and most complex audit and consulting engagements of the firm across different industries.
 
Within PwC, Hans is also responsible for the Assurance Standards & Technology group in Singapore. In this role, he is heavily involved with the roll-out of Assurance Standards, related policies and guidance and associated audit technology tools across the firm.
 
Hans chairs ISCA’s Auditing & Assurance Standards Committee. He also co-chairs ISCA’s Covid-19 Working Group, which is tasked with providing audit and accounting professionals in Singapore with up to date technical guidance on the implications of Covid-19.
 
Qualifications
MBA University of Tilburg, The Netherlands
Chartered Accountant & Public Accountant, Institute of Singapore Chartered Accountants
Associate Chartered Accountant, Institute of Chartered Accountants in Australia & New Zealand
 
Reinhard Klemmer
Chairman, ISCA Financial Reporting Committee
Partner, KPMG LLP
 
Reinhard is the Head of the Department of Professional Practice and an Audit Partner with KPMG Singapore with more than 25 years of experience.
 
In his current role as head of DPP, he is involved in all significant accounting discussions and audit methodology issues of the firm in Singapore. He is involved with the audit regulators in Singapore and represents KPMG Singapore in international discussions on accounting issues, in particular with the IASB.
 
Reinhard is leading audits of companies in a number of sectors and is involved in accounting advisory projects in Singapore and the ASEAN region. He is advising on accounting for acquisitions, hedge accounting, consolidation issues, complex transaction accounting as well as various other issues for a wide range of clients including financial institutions, government institutions, PE investors and real estate companies.
 
His audit portfolio includes a large listed Telco in Singapore, where he serves as the Group engagement partner as well as branches of regulated Banks in Singapore and the audit of a commodities trading company and technology companies.
 
Reinhard is the chairman of ISCA’s Financial Reporting Committee and a member of several other technical ISCA committees and chairs the workgroups on the implementation of the new consolidation standards and the new revenue recognition standard in Singapore.
 
Reinhard is a member of KPMG’s Global Topic Teams on revenue recognition and the topic team on valuation and impairment. He is very involved in technical issues and the interpretation and practical implementation of the respective accounting rules. He liaises on a regular basis with KPMG’s IFR-Group as well as other international members of the topic teams.
 
Tan Seng Choon
Chairman, ISCA Ethics Committee
Partner, Assurance, Ernst & Young LLP
 
Seng Choon has more than 25 years of audit experience working with EY London and Singapore office. He has audited multinationals, public and private companies and statutory boards across a diversified range of industries. These include Real Estate, Construction & Hospitality Technology, Resources & Transportation and Consumer Products. He also has experiences in IPO and following due diligence projects.
 
Seng Choon holds a Bachelor of Accountancy (Second Upper Division) and is a Chartered Accountant and fellow member of the Institute of Chartered Accountants in England and Wales. He is also a Chartered Accountant and member of the Institute of Singapore Chartered Accountants (ISCA). His other appointments and experiences include:
 
  • ISCA Ethics Committee Chairman (currently)
  • EY Singapore Professional Practice Partner from Jan 2009 – Dec 2016
  • EY ASEAN Regulatory & Public Policy Partner from Oct 2010 – Jun 2016
  • ACRA Complaints and Disciplinary Panel Member
  • ACRA Practicing Monitoring Sub-Committee Member till 2016
  • ISCA Financial Reporting Committee Member till 2019
 
Ng Kian Hui
Audit Partner, Head of Audit & Assurance, BDO LLP
 
Kian Hui has more than 23 years of experience in providing auditing and assurance services in Singapore and China.  He is the Head of Audit & Assurance and IFRS Country Leader of BDO LLP, Singapore. Currently, he is a member of the Financial Reporting Committee, Institute of Singapore Chartered Accountants (“ISCA”). He was a member of Auditing and Assurance Committee, ISCA as well as the Deputy Chairman of the ISCA Revenue Standard Working Group.
 
He provides auditing and assurance services to listed companies, multi-national corporation, statutory boards and privately owned entities in Singapore and China. His expertise covers statutory audits, accounting advisory, as well as reporting accountant for Initial Public Offers engagements.
 
Kuldip Gill
Divisional Director, Public Accountancy Division, Accounting and Corporate Regulatory Authority
 
Ms Kuldip Gill as the Divisional Director of the Public Accountancy Division of ACRA, oversees ACRA’s Practice Monitoring Department (PMD) and Professional Oversight Department (POD). PMD supports ACRA in its strategic objective of promoting high quality audits and corporate financial reporting through the administration of the Practice Monitoring Programme, which includes performing practice reviews of audits carried out by public accountants in Singapore. PMD also supports ACRA’s regulatory efforts in monitoring events and trends in the local and international marketplace and carries out other regulatory activities on the work and independence of public accountants when required. POD on the other hand, oversees the registration of public accountants and accounting entities as well as key aspects of regulation and enforcement of the profession.
 
Ms Gill, with more than 30 years experience in public accounting in various countries in the region including Australia and Hong Kong, has extensive experience in the audits of multinational and local companies in a wide spectrum of industries. Ms Gill, a partner in one of the Big-4 firms in Singapore prior to joining ACRA, was responsible for some of the quality aspects of the network firm. She is known for her commitment to audit quality and made significant contributions in the Asia Pacific Region.
 
Ms Gill has regularly provided training to members of ISCA and CPA Australia. She is a member of the Institute of Chartered Accountants of Australia, a member of the Institute of Singapore Chartered Accountants, and a Fellow of CPA Australia.
 
Gajendran Vyapuri
Assurance Partner, Ernst & Young LLP
 
Gajendran is an Assurance Partner and the Professional Practice Director in EY with more than 20 years of audit experience, covering various multinationals, public and private companies in a diversified range of industries.
 
He is a practicing member of the Institute of Singapore Chartered Accountants; a fellow of the Association of Chartered Certified Accountants, UK, and a member of the Malaysian Institute of Accountants.
 
Gajendran is a member of ISCA Auditing and Assurance Standards Committee, ISCA Financial Reporting Committee and ISCA Investigation and Disciplinary Panel member. He is also a member of Accounting Standards Council Better Communication Working Group.
 
Philip Yuen
Chief Executive Officer, Deloitte Southeast Asia
Chairman, Deloitte Singapore
 
Philip Yuen is the CEO of Deloitte Southeast Asia and Chairman of Deloitte Singapore. He has over 30 years of public accounting experience in the United Kingdom and Singapore. He assumed the role of CEO, Deloitte Southeast Asia on 1 June 2016 and Chairman, Deloitte Singapore on 1 January 2019. His natural leadership qualities have earned him wide respect both among his clients and in Deloitte’s global organisation.
 
He has extensive experience as a hands-on leader of complex global engagements. Besides advising companies listed on the Singapore Exchange, he has led teams in special investigation and system audits.
 
Philip is a board member and audit committee chair of both Singapore Land Authority and Institute of Technical Education. He is also an Industry Advisory Committee member for the accountancy programme at Singapore Institute of Technology, a member of the School Accountancy Advisory Board at Singapore Management University and Chairman of the Board of Governors of NorthLight School.
 
Chen Voon Hoe
Partner, PricewaterhouseCoopers Risk Services Pte Ltd
 
Voon Hoe is the partner leading the Accounting, Financial Reporting and Corporate Treasury services in PwC Singapore. He has over 20 years of experience implementing end to end reporting, risk and treasury solutions for major organizations across Asia. This includes gap analysis, project management, modelling and working with vendors to implement systems solutions in response to changes in accounting standards or regulatory reforms. In addition, he has also worked on a number of complex billion-dollar capital raising and mergers and acquisitions transactions providing finance, structuring, valuation and due diligence advice across the deal cycle.
 
Voon Hoe is a member of PwC's global network of IFRS reporting specialists and PwC's Global Banking Industry Accounting. In Singapore, he is the Deputy Chair of the Institute of Singapore Chartered Accountant's Financial Reporting Committee and chairs its FRS 109 working group. In addition, he is also a member of Accounting Standard Council's Financial Instruments and Better Communication Working Groups.
 
Chua Kim Chiu
Professor (Practice), NUS Business School, National University of Singapore
Chairman of Audit Committee, OCBC Bank
 
Chua Kim Chiu is currently Professor (Practice) in Accounting at NUS Business School, where he teaches courses in financial reporting and valuation at executive, master's and advanced undergraduate levels. As a board member of OCBC Bank, he is currently Chairman of the Audit Committee and a member of the Risk Management Committee. He also serves as an Audit and Risk Committee of National University Health System.
 
Before entering academia, Professor Chua was a partner at PricewaterhouseCoopers (PwC) Singapore for over two decades, where he was a member of the Leadership Team and headed the firm-wide Risk and Quality function. He also acted as a Senior Advisor at PwC Hong Kong and China from 2012 to 2016.
 
At PwC, he was involved in the audits of the Big 3 Singapore banks and a number of international banks in Singapore either as the lead audit partner or the quality review partner. He also led a number of financial due diligence engagements relating to the acquisition of banks in the region. In addition, he was a pioneer in advising clients on their first adoption of the accounting standard for financial instruments.
 
Formerly, he was the Chairman of Financial Reporting Standards Committee and Banking and Finance Committee of ISCA and was also a member of Accounting Standards Council of Singapore.
 
As an expert in accounting for financial instruments, he has over the years contributed numerous comment letters to International Accounting Standards Board on its accounting standard exposure drafts and discussion papers.
 
Mikkel Larsen
Group Head of Tax and Accounting Policy, DBS
Deputy Chair, Accounting and Tax Sub-Group, Steering Committee for SOR Transition to SORA
 
Mikkel Larsen is Managing Director, Group Head of Tax and Accounting Policy of DBS. He is also the Chief Sustainability Officer of DBS and a committee member of Global Compact Network Singapore's Management Committee.
 
Prior to joining DBS, Mikkel was the Chief Financial Officer for Asia Pacific in UBS from 2009 to 2012 covering Investment Bank, Wealth Management and Asset Management. He was previously the Asia Pacific Head of Accounting Policy and location controller for Hong Kong at UBS. Mikkel has also worked in Citigroup in London and KPMG in London and Denmark.
 
Mikkel holds an MBA from London Business School, Graduate education from Harvard University and a Bachelor and Masters Degree in Economics from Copenhagen Business School in his native country Denmark where he also holds his CPA.
 
Michael Heng
Managing Partner, Heng Lee Seng LLP
Member, ISCA Public Accounting Practice Committee
 
Michael has over 25 years of experience in auditing, accounting and taxation and is currently managing partner of Heng Lee Seng LLP, a mid-sized public accounting firm.
 
He graduated from the University of Melbourne with a Bachelor of Commerce degree, is a fellow member of the Institute of Singapore Chartered Accountants, CPA Australia and the Chartered Institute of Management Accountants; a member of the Institute of Internal Auditors (Singapore) and the Singapore Institute of Directors. He holds the designation of an Accredited Tax Advisor (ATA) of the Singapore Institute of Accredited Tax Professionals.
 
Michael is an active member of ISCA, being a member of the Public Accounting Practice Committee and ISCA's Investigation and Disciplinary Panel.
 


Group Package at 15% off (Register for 3 or more pax and enjoy the special rate!)

Programme Objective
 

ISCA’s flagship event for practitioners and the final instalment of the Singapore Accountancy and Audit Convention (SAAC) series – The Practitioners Conference – aims to help audit firms find clarity amid chaos. As the world navigates through the challenges of the pandemic and march towards an uncertain 2021, audit practices need to embrace new perspectives, transform and build resilience into their operations and workforce. Firms must be ready to poise themselves for unexpected risks and opportunities.

 

The Practitioners Conference 2020 brings issues of sustainability to the forefront, in addition to pertinent topics such as quality management and ethics. There is no better place to have this conversation about tomorrow than at this event that gathers the practitioners of Singapore. Join us in our first virtual Practitioners Conference, but no less engaging as delegates can still connect with our speakers, panelists and fellow delegates via the interactive platform.


Fees

Categories
Fees (inclusive of GST)
Individual
Member: $171.20
Non-Member: $214.00
Group

 
Register for 3 or more pax and enjoy a 15% discount (at $145.50 per pax)

Programme Outline

 

Time
Topic
8.30 am
Welcome Address

Mr Kon Yin Tong, President, ISCA
 
8.40 am
Keynote Address by Guest-of-Honour
8.50 am
Strategising for a Resilient Tomorrow
 
COVID-19, which started as a health crisis, has since battered a brutal hit on the economy, impacting myriad businesses worldwide. The full ramifications are not yet known and there remain uncertainty what else it might bring. In the same storm, we have seen businesses emerging stronger, while others, even those in the same industry, struggling and going down. How it is that some fare better than others?  
 
Over the last few months, many audit practices have taken immediate actions and successfully executed plans specific to the crisis. This include building the infrastructure and security for their people to telecommute, manging internal costs and liquidity squeeze and even stepping up to share valuable advice to support their clients in overcoming the new complexities brought by the crisis. Beyond these immediate responses, more importantly, has practices capitalise on this unprecedented crisis to transform and build resilience into their operations and workforce? Are practices ready to poise themselves for future new risks or unexpected events?
 
This panel will share insights on how firms can find clarity amid chaos and how they can continue to steer and pivot their practices for future sustainability and growth.
 
Moderator
Mr Michael Heng, Managing Partner, Heng Lee Seng LLP; Member, ISCA Public Accounting Practice Committee
 
Panellists
  • Ms Kuldip Gill, Divisional Director, Public Accountancy Division, Accounting and Corporate Regulatory Authority
  • Mr Philip Yuen, Chief Executive Officer, Deloitte Southeast Asia; Chairman, Deloitte Singapore
  • Mr Tan Kuang Hui, CEO and Managing Partner, Crowe Horwath First Trust LLP
  • Mr Kevin Fitzgerald, Managing Director, Asia, Xero
9.50 am
Raising Audit Quality Through Challenging Times
 
Amidst the rapid transformations experienced by the audit profession, a core objective of ACRA’s Practice Monitoring Programme is to achieve continuous improvement in audit quality. In light of these challenging times, there is all the more reason to deliver high quality audits and in this regard ACRA will be sharing good practices observed from their inspections, and key areas that practitioners should focus on to enhance audit quality.
 
Ms Kuldip Gill, Divisional Director, Public Accountancy Division, Accounting and Corporate Regulatory Authority
 
10.20 am
The Future of Standard-Setting
 
The International Auditing and Assurance Standards Board (IAASB) puts forth its proposed work plan that sets out its initiatives to respond to stakeholder needs and identified challenges and issues, with a focus on quality management and group audits. Hear from the Chair of the ISCA Auditing and Assurance Standards Committee to keep abreast on what is upcoming on the international and local front.
 
Mr Hans Koopmans, Chairman, ISCA Auditing and Assurance Standards Committee; Partner, PricewaterhouseCoopers LLP 
 
10.40 am
Screen Break
10.50 am
Transition from SOR to SORA – Are You on Track?
 
In line with the global shift away from Interbank Offered Rate (IBOR) and towards alternative risk-free rates, Singapore will transition from the Sing-dollar Swap Offer Rate (SOR) to a new interest rate benchmark – Singapore Overnight Rate Average (SORA) by the end of 2021.
 
The change to SORA as a new benchmark will have a significant impact on virtually all entities, and not just financial institutions. SOR based loans and derivatives will no longer exist after the transition. What are the key challenges and implications arising from this profound change? How do entities prepare for a smooth transition?
 
We invite you to tune in for the discussion by our esteemed panellists. They will share their insights on the challenges from this change and on how to navigate the transition.
 
Moderator
Mr Reinhard Klemmer, Chairman, ISCA Financial Reporting Committee; Partner, KPMG LLP
 
Panellists
  • Mr Chen Voon Hoe, Partner, PricewaterhouseCoopers Risk Services Pte Ltd
  • Prof Chua Kim Chiu, Professor (Practice), NUS Business School, National University of Singapore; Chairman of Audit Committee, OCBC Bank
  • Mr Mikkel Larsen, Group Head of Tax and Accounting Policy, DBS; Deputy Chair, Accounting and Tax Sub-Group, Steering Committee for SOR Transition to SORA
11.50 am
Preparing Your Firm for New Quality Management Standards
 
The International Standard on Quality Management (ISQM) 1 and ISQM 2, which are expected to be adopted locally in Q1 2021, bring important changes to the way professional accountancy firms manage quality. This includes a new pro-active risk-based approach to an effective system of quality management that underpins consistent engagement quality. Learn about the key changes arising from these new quality management standards to help kick off a smooth implementation process for your firm.
 
Mr Gajendran Vyapuri, Assurance Partner, Ernst & Young LLP
 
12.20 pm
Developments in Ethics and Professional Independence – Enhancing Public Confidence post COVID-19
 
Auditors are under increased scrutiny to commit to high standards of ethical behaviour, to uphold public interest and public expectations. The COVID-19 pandemic has resulted in uncertainty and unprecedented changes to businesses that may increase instances of fraudulent financial reporting and non-compliance with laws and regulations (NOCLAR). Recent accounting scandals have further put the importance of ethical behaviour of auditors in the spotlight whereby auditors are expected to behave in a manner consistent with their responsibility to act in the public interest. 
 
The International Ethics Standards Board for Accountants has issued proposals to strengthen independence requirements relating to non-assurance services (NAS) and fee-related provisions in the ethics code. ISCA has provided feedback to these proposals in June 2020 together with our recommendations which are supported by the results of a NAS survey we conducted of directors. ISCA will be launching the NAS Survey Findings Report at this Practitioners Conference.
 
Join us to find out how auditors can navigate their way forward to enhance public confidence post Covid-19, hear the views of directors on matters concerning auditor independence and discover best practices relating to NOCLAR.
 
Mr Tan Seng Choon, Chairman, ISCA Ethics Committee; Partner, Assurance, Ernst & Young LLP
 
12.50 pm
2020 Audit Hot Spots
 
The consequences of COVID-19 on financial reporting and audit are complex and challenging. There is an unprecedented uncertainty about the economy, future earnings, liquidity and the estimates that go into the fundamental elements of a set of financial statements. 2020 audits will present new issues that may not have been considered before in prior audits. More than ever, auditors need to approach the 2020 audits with significant professional judgement, scepticism and vigilance. In this segment, the speaker will bring you through some of the key audit challenges and implications from COVID-19 and share how auditors can navigate through the upcoming audit peak.
 
Mr Ng Kian Hui, Audit Partner, Head of Audit & Assurance, BDO LLP
 
1.30 pm
End of Conference


*Please note that the programme is subject to changes without further notice.

Training Methodology

Virtual Conference

Strategic Partners

User-added image


Contact Details

For registration enquiries, please contact Member Services Centre at +65 6749 8060 or cpe@isca.org.sg.
For all other enquiries, please contact qualityassurance@isca.org.sg.

Live Webinar Link

Instructions on how to log in to the live webinar will be sent to the participant's email address that was used during registration.

Closing Date for Registration

1 day before programme or until full enrolment

Intended For

Practitioners and experienced audit professionals

Competency Mapping

Category 2 = 0.50 Hours
Category 3 = 2.00 Hours
Others = 2.50 Hours

Programme Facilitator(s)

Tan Kuang Hui
CEO and Managing Partner, Crowe Horwath First Trust LLP
 
Professional Summary
Kuang Hui has over 25 years of experience in the audit and financial advisory services, providing these services to a broad range of clients including financial institutions, technology, manufacturing, trading, publishing and agricultural companies.   
 
As the Chief Executive and Managing Partner of Crowe Horwath First Trust LLP, Kuang Hui leads the Singapore firm comprising 12 partners and approximately 200 professionals. He is particularly well versed in PRC business, accounting and tax matters. Kuang Hui is also currently a member of the Board of Directors of Crowe Global.
 
Experience
  • Leading teams to perform audits and advisory of companies listed on the Singapore Exchange.
  • Advising clients on the restructuring and subsequent listing of various companies on the Singapore Exchange.
  • Leading teams to perform due diligence reviews in connection with various proposed acquisitions of companies in Indonesia, China and Singapore.
  • Performing risk control reviews and advising clients on risk control as well as corporate governance issues.
  • Assisting PRC companies to raise financial in capital markets in Singapore.
  • Led projects for the valuations of businesses in various industries located in China.
  • Advising technology clients on block-chain and crypto-currencies.
 
Professional Affiliations
  • Council Member of the Institute of Singapore Chartered Accountants (ISCA)
  • CPA Australia
 
Education
  • Bachelor of Accountancy, Nanyang Technological University, Singapore
 
Kevin Fitzgerald
Managing Director, Asia, Xero
 
Kevin Fitzgerald is Xero’s Regional Director for Asia.
 
Originally from Ireland, Kevin moved to Australia in 2011 and led Financial Services recruitment business for Robert Walters in Melbourne. Previously Kevin has worked with KPMG, Royal Bank of Canada and State Street Bank in Audit, Financial Reporting and Hedge Funds. His career in Xero began in 2015 where he led the Australian sales team as Territory Manager. Kevin has experience working with SME’s from many perspectives, he understands deeply their challenges and works tirelessly with his team at Xero and Xero Partners to help SME’s grow.
 
Kevin moved to Singapore in 2017 and loves spending time with SME’s hearing about their challenges and discussing how Xero can help them.
 
Kevin is a fellow member of the ACCA, the largest Professional Accounting Body globally.
 
Hans Koopmans
Chairman, ISCA Auditing and Assurance Standards Committee
Partner, PricewaterhouseCoopers LLP
 
Professional Experience
Hans is currently an audit partner with PwC Singapore.  He has more than 30 years of experience with the firm in The Netherlands, New Zealand, Indonesia and Singapore. Hans has been involved with some of the largest and most complex audit and consulting engagements of the firm across different industries.
 
Within PwC, Hans is also responsible for the Assurance Standards & Technology group in Singapore. In this role, he is heavily involved with the roll-out of Assurance Standards, related policies and guidance and associated audit technology tools across the firm.
 
Hans chairs ISCA’s Auditing & Assurance Standards Committee. He also co-chairs ISCA’s Covid-19 Working Group, which is tasked with providing audit and accounting professionals in Singapore with up to date technical guidance on the implications of Covid-19.
 
Qualifications
MBA University of Tilburg, The Netherlands
Chartered Accountant & Public Accountant, Institute of Singapore Chartered Accountants
Associate Chartered Accountant, Institute of Chartered Accountants in Australia & New Zealand
 
Reinhard Klemmer
Chairman, ISCA Financial Reporting Committee
Partner, KPMG LLP
 
Reinhard is the Head of the Department of Professional Practice and an Audit Partner with KPMG Singapore with more than 25 years of experience.
 
In his current role as head of DPP, he is involved in all significant accounting discussions and audit methodology issues of the firm in Singapore. He is involved with the audit regulators in Singapore and represents KPMG Singapore in international discussions on accounting issues, in particular with the IASB.
 
Reinhard is leading audits of companies in a number of sectors and is involved in accounting advisory projects in Singapore and the ASEAN region. He is advising on accounting for acquisitions, hedge accounting, consolidation issues, complex transaction accounting as well as various other issues for a wide range of clients including financial institutions, government institutions, PE investors and real estate companies.
 
His audit portfolio includes a large listed Telco in Singapore, where he serves as the Group engagement partner as well as branches of regulated Banks in Singapore and the audit of a commodities trading company and technology companies.
 
Reinhard is the chairman of ISCA’s Financial Reporting Committee and a member of several other technical ISCA committees and chairs the workgroups on the implementation of the new consolidation standards and the new revenue recognition standard in Singapore.
 
Reinhard is a member of KPMG’s Global Topic Teams on revenue recognition and the topic team on valuation and impairment. He is very involved in technical issues and the interpretation and practical implementation of the respective accounting rules. He liaises on a regular basis with KPMG’s IFR-Group as well as other international members of the topic teams.
 
Tan Seng Choon
Chairman, ISCA Ethics Committee
Partner, Assurance, Ernst & Young LLP
 
Seng Choon has more than 25 years of audit experience working with EY London and Singapore office. He has audited multinationals, public and private companies and statutory boards across a diversified range of industries. These include Real Estate, Construction & Hospitality Technology, Resources & Transportation and Consumer Products. He also has experiences in IPO and following due diligence projects.
 
Seng Choon holds a Bachelor of Accountancy (Second Upper Division) and is a Chartered Accountant and fellow member of the Institute of Chartered Accountants in England and Wales. He is also a Chartered Accountant and member of the Institute of Singapore Chartered Accountants (ISCA). His other appointments and experiences include:
 
  • ISCA Ethics Committee Chairman (currently)
  • EY Singapore Professional Practice Partner from Jan 2009 – Dec 2016
  • EY ASEAN Regulatory & Public Policy Partner from Oct 2010 – Jun 2016
  • ACRA Complaints and Disciplinary Panel Member
  • ACRA Practicing Monitoring Sub-Committee Member till 2016
  • ISCA Financial Reporting Committee Member till 2019
 
Ng Kian Hui
Audit Partner, Head of Audit & Assurance, BDO LLP
 
Kian Hui has more than 23 years of experience in providing auditing and assurance services in Singapore and China.  He is the Head of Audit & Assurance and IFRS Country Leader of BDO LLP, Singapore. Currently, he is a member of the Financial Reporting Committee, Institute of Singapore Chartered Accountants (“ISCA”). He was a member of Auditing and Assurance Committee, ISCA as well as the Deputy Chairman of the ISCA Revenue Standard Working Group.
 
He provides auditing and assurance services to listed companies, multi-national corporation, statutory boards and privately owned entities in Singapore and China. His expertise covers statutory audits, accounting advisory, as well as reporting accountant for Initial Public Offers engagements.
 
Kuldip Gill
Divisional Director, Public Accountancy Division, Accounting and Corporate Regulatory Authority
 
Ms Kuldip Gill as the Divisional Director of the Public Accountancy Division of ACRA, oversees ACRA’s Practice Monitoring Department (PMD) and Professional Oversight Department (POD). PMD supports ACRA in its strategic objective of promoting high quality audits and corporate financial reporting through the administration of the Practice Monitoring Programme, which includes performing practice reviews of audits carried out by public accountants in Singapore. PMD also supports ACRA’s regulatory efforts in monitoring events and trends in the local and international marketplace and carries out other regulatory activities on the work and independence of public accountants when required. POD on the other hand, oversees the registration of public accountants and accounting entities as well as key aspects of regulation and enforcement of the profession.
 
Ms Gill, with more than 30 years experience in public accounting in various countries in the region including Australia and Hong Kong, has extensive experience in the audits of multinational and local companies in a wide spectrum of industries. Ms Gill, a partner in one of the Big-4 firms in Singapore prior to joining ACRA, was responsible for some of the quality aspects of the network firm. She is known for her commitment to audit quality and made significant contributions in the Asia Pacific Region.
 
Ms Gill has regularly provided training to members of ISCA and CPA Australia. She is a member of the Institute of Chartered Accountants of Australia, a member of the Institute of Singapore Chartered Accountants, and a Fellow of CPA Australia.
 
Gajendran Vyapuri
Assurance Partner, Ernst & Young LLP
 
Gajendran is an Assurance Partner and the Professional Practice Director in EY with more than 20 years of audit experience, covering various multinationals, public and private companies in a diversified range of industries.
 
He is a practicing member of the Institute of Singapore Chartered Accountants; a fellow of the Association of Chartered Certified Accountants, UK, and a member of the Malaysian Institute of Accountants.
 
Gajendran is a member of ISCA Auditing and Assurance Standards Committee, ISCA Financial Reporting Committee and ISCA Investigation and Disciplinary Panel member. He is also a member of Accounting Standards Council Better Communication Working Group.
 
Philip Yuen
Chief Executive Officer, Deloitte Southeast Asia
Chairman, Deloitte Singapore
 
Philip Yuen is the CEO of Deloitte Southeast Asia and Chairman of Deloitte Singapore. He has over 30 years of public accounting experience in the United Kingdom and Singapore. He assumed the role of CEO, Deloitte Southeast Asia on 1 June 2016 and Chairman, Deloitte Singapore on 1 January 2019. His natural leadership qualities have earned him wide respect both among his clients and in Deloitte’s global organisation.
 
He has extensive experience as a hands-on leader of complex global engagements. Besides advising companies listed on the Singapore Exchange, he has led teams in special investigation and system audits.
 
Philip is a board member and audit committee chair of both Singapore Land Authority and Institute of Technical Education. He is also an Industry Advisory Committee member for the accountancy programme at Singapore Institute of Technology, a member of the School Accountancy Advisory Board at Singapore Management University and Chairman of the Board of Governors of NorthLight School.
 
Chen Voon Hoe
Partner, PricewaterhouseCoopers Risk Services Pte Ltd
 
Voon Hoe is the partner leading the Accounting, Financial Reporting and Corporate Treasury services in PwC Singapore. He has over 20 years of experience implementing end to end reporting, risk and treasury solutions for major organizations across Asia. This includes gap analysis, project management, modelling and working with vendors to implement systems solutions in response to changes in accounting standards or regulatory reforms. In addition, he has also worked on a number of complex billion-dollar capital raising and mergers and acquisitions transactions providing finance, structuring, valuation and due diligence advice across the deal cycle.
 
Voon Hoe is a member of PwC's global network of IFRS reporting specialists and PwC's Global Banking Industry Accounting. In Singapore, he is the Deputy Chair of the Institute of Singapore Chartered Accountant's Financial Reporting Committee and chairs its FRS 109 working group. In addition, he is also a member of Accounting Standard Council's Financial Instruments and Better Communication Working Groups.
 
Chua Kim Chiu
Professor (Practice), NUS Business School, National University of Singapore
Chairman of Audit Committee, OCBC Bank
 
Chua Kim Chiu is currently Professor (Practice) in Accounting at NUS Business School, where he teaches courses in financial reporting and valuation at executive, master's and advanced undergraduate levels. As a board member of OCBC Bank, he is currently Chairman of the Audit Committee and a member of the Risk Management Committee. He also serves as an Audit and Risk Committee of National University Health System.
 
Before entering academia, Professor Chua was a partner at PricewaterhouseCoopers (PwC) Singapore for over two decades, where he was a member of the Leadership Team and headed the firm-wide Risk and Quality function. He also acted as a Senior Advisor at PwC Hong Kong and China from 2012 to 2016.
 
At PwC, he was involved in the audits of the Big 3 Singapore banks and a number of international banks in Singapore either as the lead audit partner or the quality review partner. He also led a number of financial due diligence engagements relating to the acquisition of banks in the region. In addition, he was a pioneer in advising clients on their first adoption of the accounting standard for financial instruments.
 
Formerly, he was the Chairman of Financial Reporting Standards Committee and Banking and Finance Committee of ISCA and was also a member of Accounting Standards Council of Singapore.
 
As an expert in accounting for financial instruments, he has over the years contributed numerous comment letters to International Accounting Standards Board on its accounting standard exposure drafts and discussion papers.
 
Mikkel Larsen
Group Head of Tax and Accounting Policy, DBS
Deputy Chair, Accounting and Tax Sub-Group, Steering Committee for SOR Transition to SORA
 
Mikkel Larsen is Managing Director, Group Head of Tax and Accounting Policy of DBS. He is also the Chief Sustainability Officer of DBS and a committee member of Global Compact Network Singapore's Management Committee.
 
Prior to joining DBS, Mikkel was the Chief Financial Officer for Asia Pacific in UBS from 2009 to 2012 covering Investment Bank, Wealth Management and Asset Management. He was previously the Asia Pacific Head of Accounting Policy and location controller for Hong Kong at UBS. Mikkel has also worked in Citigroup in London and KPMG in London and Denmark.
 
Mikkel holds an MBA from London Business School, Graduate education from Harvard University and a Bachelor and Masters Degree in Economics from Copenhagen Business School in his native country Denmark where he also holds his CPA.
 
Michael Heng
Managing Partner, Heng Lee Seng LLP
Member, ISCA Public Accounting Practice Committee
 
Michael has over 25 years of experience in auditing, accounting and taxation and is currently managing partner of Heng Lee Seng LLP, a mid-sized public accounting firm.
 
He graduated from the University of Melbourne with a Bachelor of Commerce degree, is a fellow member of the Institute of Singapore Chartered Accountants, CPA Australia and the Chartered Institute of Management Accountants; a member of the Institute of Internal Auditors (Singapore) and the Singapore Institute of Directors. He holds the designation of an Accredited Tax Advisor (ATA) of the Singapore Institute of Accredited Tax Professionals.
 
Michael is an active member of ISCA, being a member of the Public Accounting Practice Committee and ISCA's Investigation and Disciplinary Panel.
 

Upcoming Schedule

Date & Time

22 Oct 2020 (8:30 AM - 1:30 PM)

Fee (inclusive of GST)

For Members: $ 171.20
For Non-Members: $ 214.00

Programme Facilitator(s)

Team of Professionals (PC2020)

Venue

Online Classroom in or outside of
Singapore