Top PMP Inspection Findings and How to Address Them - Part 2: Going Concern

ACC_ADT029i

English

Course Description

Synopsis:

This e-learning series will present the top PMP (Practice Monitoring Programme) Inspection Findings by ACRA and how to address the deficiencies.

Part 2 of the series will elaborate on the top PMP findings regarding the appropriateness of management’s use of the going concern basis of accounting in the preparation of the financial statements. Technical references from Singapore Standards on Auditing will be used to explain how to address these deficiencies. 

Topics covered include:

  • PMP Findings - Going Concern
    • What to do when there are identified events or conditions that may cast significant doubt on the audited entity’s ability to continue as a going concern?
    • Material Uncertainty related to Going Concern
    • Close Call and Adequate Disclosure
    • Going Concern Assessment
    • Case studies based on actual financial statements

More PMP findings in: 

Top PMP Inspection Findings and How to Address Them - Part 1: The Audit Report

Part 1 will elaborate on the top PMP findings on deficiencies identified in the Auditor’s Report on financial statements, and how to address the deficiencies.

Top PMP Inspection Findings and How to Address Them - Part 3: Fair Value of Investment in Unquoted Equity

Part 3 will elaborate on the top PMP findings regarding the fair value measurement of investments in unquoted equity instruments. 


Intended For:

  • Audit Professionals / PAIP

This module will be particularly relevant to: 

  • Audit engagement partners who prepare and sign off audit reports
  • Audit quality reviewers of audit reports

 

Competency Mapping: 

  • CPE Category 3 = 1.0 CPE Hour
Instructor Image

Daniel Chee

FCA (Singapore)

Daniel is a Fellow Chartered Accountant of Singapore. He holds an Honours degree in Accountancy from the National University of Singapore and was a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with multi-national corporations, managing their operations in Singapore and Asia.Daniel has served as an adjunct Associate Professor in the department of accounting at the National University of Singapore (NUS), teaching the Audit and Assurance and Advanced Audit and Assurance modules. After NUS, he served as an Adjunct Professor in the accounting department of the Singapore University of Social Sciences (SUSS), teaching the Audit and Assurance module.Daniel also provided professional training to members of the Institute of Singapore Chartered Accountants (ISCA), the Singapore Institute of Directors (SID), public accounting firms and training providers.Daniel was formerly a committee member of both the IT Committee and the Examination Committee of ISCA, and was also a committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).
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Course Rating

Speaker's Rating

1 CPE Hour

Lesson(s)

3

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