Synopsis:
This module presents the highlights of the 2023 ISCA Mini Conference on "Insights into the Review of Financial Statements".
In ISCA's collaboration with ACRA, the ISCA Financial Statements Review Advisory Panel ("ISCA FSRAP") reviews selected audited financial statements of Singapore-incorporated companies under ACRA's Financial Reporting Surveillance Programme ("FSRAP"), with the objectives of enhancing the quality of financial reporting and promoting best practices in Singapore.
With the CFOs, finance teams, auditors, and directors in mind, you will hear from subject matter experts and regulators on their insights and suggestions in complying with the financial reporting standards.
Outline of the module:
ACRA publishes the areas of review focus annually to guide directors in reviewing and approving the financial statements. In this presentation, you will hear from the speaker on the areas of review focus for the FY2023 financial statements.
Many judgements and estimates are applied in financial reporting, some of which will have a significant effect on the financial performance and position of the reporting entity. However, the application and development of judgements and estimates are difficult, adding to the pressure preparers face to meet investor’s expectation for high quality related disclosures. Learn more about some common judgements and estimates areas from the speakers in this segment.
Considering the current economic environment, there may be a wider range of factors that can affect an entity’s going concern assessment. Determine the issues to consider when performing going concern assessment. This is followed by a panel discussion on how a combination of risk factors can impact a company’s solvency and the red flag indicators investors and directors look at.
Intended For:
Competency Mapping:
Member, ISCA FSRAP; Partner, Ernst & Young LLP
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