SPRING has provided over $2 million in funding to ISCA, which will benefit at least 150 accountancy SMEs. This is in line with recommendations by the Committee on the Future Economy to grow our accountancy industry.
Over the next three years, ISCA will spearhead efforts to help firms adopt technology, build capabilities and skills in high-growth practices and regionalise for growth.
In October 2016, the Institute launched the new ISCA Audit Manual for Standalone Entities (AMSE) to assist auditing professionals in carrying out audits of a complete set of general purpose financial statements of Singapore incorporated standalone entities, as well as to help auditing professionals understand and effectively apply the SSAs on such audits.
Currently, ISCA is working with an existing audit software provider to customise the electronic working papers and templates based on the ISCA AMSE.
The adoption of this audit software can be funded up to 70% for a period of two years under SPRING’s LEAD Funding. The solution will be available in Q4/2017 and if you are keen to lodge your interest, do email to email@example.com.