{"id":1077,"date":"2019-06-28T17:40:49","date_gmt":"2019-06-28T09:40:49","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1077"},"modified":"2020-01-12T17:48:19","modified_gmt":"2020-01-12T09:48:19","slug":"enhanced-statement-of-auditing-practice-sap-2-auditors-and-public-offering-documents","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2019\/06\/28\/enhanced-statement-of-auditing-practice-sap-2-auditors-and-public-offering-documents\/","title":{"rendered":"Enhanced Statement of Auditing Practice (SAP) 2, Auditors and Public Offering Documents"},"content":{"rendered":"\n<p>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 forecasts, it has been revised to  include a new section on the guidance on what reporting auditors should  comment on their private reports.\u00a0  <\/p>\n\n\n\n<p>SAP 2 (Revised) provides guidance on the reporting auditor\u2019s roles and  responsibilities when engaged as a professional in a public offering  exercise, and general principles governing engagements relating to public offering documents.\u00a0 <\/p>\n\n\n\n<p>The key enhancements made to SAP 2 are: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>updated reference to Securities and Futures (Offers of Investments)  (Securities and Securities-based Derivative Contracts) Regulations 2018  (SFR 2018)<\/li><li>inserted new  section on private report on profit forecast providing guidance on what  reporting officers should comment on their private reports. This was  done in order to curtail the prevalent divergence in practice while  issuing private reports on profit forecast, and<\/li><li>inserted additional example report 6 in Appendix 1, to provide  illustrative guidance through a private report on prospective financial  information.<\/li><\/ul>\n\n\n\n<p>The enhancements will be effective for reports dated on or after 1 October 2019.<\/p>\n\n\n\n<p>Source: ISCA website<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/isca.org.sg\/tkc\/aa\/current-issues\/standards-alert\/standards-alert\/2019\/june\/enhanced-statement-of-auditing-practice-sap-2-auditors-and-public-offering-documents\/\"><\/a>, 28 June 2019<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 forecasts, it has been revised to include a new section on the guidance on what [&hellip;]<\/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":[13,6],"tags":[],"class_list":["post-1077","post","type-post","status-publish","format-standard","hentry","category-auditing","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1077","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=1077"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1077\/revisions"}],"predecessor-version":[{"id":1078,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1077\/revisions\/1078"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1077"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}