On or about 29 April 2019, the Institute of Singapore Chartered Accountants (ISCA) Ethics Committee (EC) is seeking views on an Exposure Draft containing the final pronouncement of Responding to Non-Compliance with Laws and Regulations (NOCLAR). Comments are to be submitted by 24 May 2019. <\/p>\n\n\n\n
The proposed pronouncement in this Exposure Draft (ED) is based on the final pronouncement of Responding to NOCLAR<\/em> issued by International Ethics Standards Board for Accountants (IESBA).<\/p>\n\n\n\n NOCLAR comprises acts of omission or \ncommission, intentional or unintentional, committed by a client or by \nthose charged with governance, by management or by other individuals \nworking for or under the direction of a client, which are contrary to \nthe prevailing laws or regulations. <\/p>\n\n\n\n The proposed NOCLAR pronouncement would set out a new framework to guide the auditors, other professional accountants in public practice (PAIPs), and professional accountants in business (PAIBs), given their responsibility to act in the public interest, in assessing the implications of the matters and the possible courses of actions, when they become aware of NOCLAR, committed by a client or employer. <\/p>\n\n\n\n The proposed pronouncement would also place emphasis on the role of senior PAIBs in promoting a culture of compliance with laws and regulations and prevention of non-compliance within their organizations. <\/p>\n\n\n\n If adopted, EP 100 would contain new sections 225 and 360 addressing the responsibilities of professional accountants when they become aware of NOCLAR committed by a client or employer. Consequential and conforming changes would be made to sections 100, 140, 150, 210 and 270 of EP 100. <\/p>\n\n\n\n Cognisant of the possible concerns of adopting the proposed pronouncement in Singapore, a frequently asked questions section is included in the ED to illustrate certain aspects of the proposed pronouncement and to assist professional accountants in implementing the requirements in the pronouncement.<\/p>\n\n\n\n Source: ISCA<\/em>, 2 May 2019 On or about 29 April 2019, the Institute of Singapore Chartered Accountants (ISCA) Ethics Committee (EC) is seeking views on an Exposure Draft containing the final pronouncement of Responding to Non-Compliance with Laws and Regulations (NOCLAR). Comments are to be submitted by 24 May 2019. The proposed pronouncement in this Exposure Draft (ED) is based […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,6],"tags":[],"class_list":["post-1029","post","type-post","status-publish","format-standard","hentry","category-accounting","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1029"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1029\/revisions"}],"predecessor-version":[{"id":1030,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1029\/revisions\/1030"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1029"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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