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UNITS

Webinar | ACCA

Audit of related parties, going concern, subsequent events (ISA 550, 560, 570)

This course will give you an understanding of audit process for going concern, subsequent events and related parties

Overview

Lit-up highway through city

Introduction

Professional and technical competency is one of the corner stone of the audit profession. As adequate job knowledge is vital for any audit staff to perform their task effectively and efficiently, professional accounting bodies have made professional competency mandatory for its members. Auditing standards and auditing manuals have also provided guidance for auditors to perform their audit in a proper manner.

Learning objectives

  • Understanding the completion procedures in an audit of financial statements, audit process and relevant auditing approach for going concern, subsequent events and related parties
  • Enhance their knowledge, understanding and application of crucial audit tools, auditing standards and audit management

Methodology

  • This webinar will be interactive using PowerPoint presentation with practical examples.

Session 1

9:00 am - 9:30am

  • Audit of related parties – ISA 550
  • Understanding related parties and disclosure requirements based on MPERS Section 33

Session 1 (continued):

9:30 am - 10:30 am 

  • Audit completion procedures
  • Understanding the requirements of ISA 570 (Revised) Going Concern
  • Audit approach for going concern

Session 2:  

10:45 am - 12:30 pm

  • Work done and documentation for going concern
  • Audit opinions in relation to various going concern circumstances

 

Session 2 (continued):

1:30 pm - 3:30pm

  • Auditor unable to continue the engagement
  • Written representations
  • Communications to management and with those charged with governance

Session 2 (continued):

3:45pm - 5:00pm

• Audit of subsequent events – ISA 560

• Circumstances and treatment of adjusting and non-adjusting events

• Completion procedures

Dr Ramesh Ruben Louis, PhD (Malaya), MBA (UK), CA(M), FCCA (UK), CPA(M), CMIIA

Ramesh Ruben Louis has over 23 years of working experience in financial reporting, auditing and risk management. He is a fellow of ACCA, a member of the Malaysian Institute of Accountants (MIA), the Malaysian Institute of Certified Public Accountants (MICPA) and a chartered member of The Institute of Internal Auditors (IIAM). He started his career in Arthur Andersen, and subsequently moved over to BDO. He also has experience in corporate finance whilst attached to Southern Investment Bank Berhad. He was also the Executive Director of training for Morison AAC in Malaysia for several years.

Ramesh was instrumental in pioneering the first of its kind, online resource portal for public practitioners in Malaysia in 2008. He is currently the Principal Trainer for My Learning Training Resources and also provides consulting and advisory services for businesses and public practices in accounting, auditing, corporate finance and risk management across Asia Pacific, including Singapore, Hong Kong, Brunei and Cambodia.

His experience in accounting, auditing and risk management ranges from large public listed companies to multinational corporations, government agencies & statutory bodies as well as SME's in a spectrum of industries including plantation, property development, manufacturing, trading, IT, shipping, retailing, etc. Besides that, Ramesh also has handson experience on other corporate exercises such as due diligence, IPO's, issuance of bonds, corporate & debt restructuring and investigative audit.

His training and advisory experience includes topics on auditing, financial reporting and risk management. He has facilitated training and provided advisory for public accountants across Asia Pacific, multinationals such as Ericsson, TNB Group, Petronas Group, CIMB Bank, British American Tobacco Malaysia (BAT), YTL Hotels and public sector institutions such as RISDA, KTMB, the Accountant General Department of Malaysia, the Auditor General Department of Malaysia and Brunei, Perbadanan Tabung Pendidikan Tinggi Negara (PTPTN), Suruhanjaya Koperasi Malaysia, Construction Industry Development Board (CIDB), Lembaga Tabung Angkatan Tentera (LTAT), Perbadanan Putrajaya, SW Corp, Majlis Amanah Rakyat (MARA), Perbadanan Aset Keretapi, Dewan Bandaraya Kota Kinabalu, Majlis Perbandaran Seberang Perai, Majlis Perbandaran Kota Bharu, Majlis Perbandaran Jasin, Universiti Malaya, Universiti Malaysia Sabah, Universiti Malaysia Terengganu, the Johor state government, the Terengganu state government, the Kelantan state government as well as the Ministry of Defence and Ministry of Primary Resources & Industries of Brunei. He is also a speaker for various professional accounting bodies such as ACCA, MIA, CPA Australia, ISCA Singapore and BICPA Brunei. Ramesh is a certified trainer by the Human Resource Development Fund (HRDF), Ministry of Human Resources Malaysia.

Besides training, Ramesh provides advisory services to audit firms by providing audit engagement reviews (hot and cold reviews of audit files and workpapers), monitoring reviews, design and development of audit methodologies in accordance with International Standards of Auditing (ISAs) and technical advisory on complex and contentious audit and financial reporting matters. He has assisted close to 80 audit firms of various sizes in Malaysia in reviewing, designing and developing a system of quality management in accordance with ISQM 1 since its effective date on 15 December 2022.

He holds an MBA from the University of Strathclyde, United Kingdom, graduating with a distinction and a doctorate (PhD) from the University of Malaya, where his research was on audit quality. Ramesh was also an adjudicator for the Sarawak Chamber of Commerce Annual Corporate Report Awards. He is a committee member of the Government Accounting Standards Advisory Committee (GASAC), appointed by the Accountant General of Malaysia.

CPD units

Attendance at this session will accord you 7.0 CPD units. A CPD certificate will be sent to you by email within 3 business days after you complete this online workshop.

HRDC

  • This course is claimable under the HRDC scheme (No Siri Kursus:10001438852).
  • The flyer can be downloaded from this  link

Who should attend?

  • Audit seniors, managers and partners

Price

Price (excluding VAT) 595 MYR

Member 432 MYR

Affiliate 465 MYR

Approved employers 520 MYR

Student 465 MYR

Public 595 MYR

Location

Malaysia

Date & time

20 December 2024, 09:00 - 17:00

Course provider

ACCA logo