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Corporate governance ecosystem and audit quality

by admin | Sep 18, 2020 | Accounting, Auditing, Tech News

On or about 3 September 2020, in an article Instilling Faith in the Figures, Lim Ju May, Deputy Director, and Terence Lam, Senior Manager, Technical, ISCA, discuss the roles of various stakeholders in the corporate governance ecosystem and maintenance of the quality...

Enhanced Statement of Auditing Practice (SAP) 2, Auditors and Public Offering Documents

by admin | Jun 28, 2019 | Auditing, Tech News

On or about 28 June 2019, the Institute of Singapore Chartered Accountants (ISCA) has published the enhanced Revised Statement of Auditing Practice (SAP) 2 to help reduce the divergence in practice among reporting auditors when issuing private reports on profit...

Discussion Paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs

by admin | Jun 25, 2019 | Auditing, Tech News

On or about 29 April 2019, the International Auditing and Assurance Standards Board (IAASB) has released a discussion paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs. This discussion paper recognizes...

ACRA published Financial Reporting Practice Guidance on reviewing 2018 financial statements

by admin | Feb 23, 2019 | Accounting, Auditing, Tech News

Under the Financial Reporting Surveillance Programme (FRSP), the Accounting and Corporate Regulatory Authority (ACRA) of Singapore reviews selected financial statements for compliance with the accounting standards. On or about 1 February 2019, it has issued Financial...

ACRA’s AUDIT PRACTICE BULLETIN NO 1 OF 2018

by admin | Aug 31, 2018 | Accounting, Auditing, Company Law, Tech News

On 28 August 2018, the Accounting and Corporate Regulatory Authority (ACRA) has issued its First Audit Practice Bulletin (APB) for 2018 that highlights the legislative requirements and provides guidance for auditors on the audit procedures and report on the revised...

EP 100 Amendments – Expected to be Effective 15 December 2018

by admin | Aug 17, 2018 | Accounting, Auditing, Ethics, Tech News

On 14 August 2018, the Institute of Singapore Chartered Accountants (ISCA) has made amendments to Ethics Pronouncement (EP 100) August 2018, Code of Professional Conduct and Ethics, provisions on long association of senior personnel with an audit or assurance client...
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  • Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12
  • Pension Benefits that Depend on Asset Return
  • The ASC submitted comments on Non-current Liabilities with Convenants and Supplier Finance Arrangement
  • Lessor Forgiveness of Lease Payments (IFRS 9 and IFRS 16)
  • Transfer of Insurance Coverage under a Group of Annuity Contracts (IFRS 17)

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