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 2017, ISCA collaborated with global software provider CaseWare International to develop “Audit Singapore”, an audit software customised for Singapore’s SMPs. The software aims to help SMPs in Singapore automate and streamline their audit work flow.
With the audit software, steps such as input of trial balances, creation of work papers and computing of financial ratios can be automated. There will also be a dashboard to provide an overall monitoring on the progress of engagements.
“Audit Singapore” is customised according to the ISCA Audit Manual for Standalone Entities (AMSE), an improved risk-based audit methodology suitable for SMPs. Hence, audit processes can be standardised across accounting firms that adopted this software.
The adoption of this audit software can be funded up to 70% for a period of two years under SPRING’s LEAD Funding. If you would like to have an overview of the audit software and find out more about the funding, do join in the monthly demo sessions, kindly email to smp@isca.org.sg to register.
For firms that have purchased the audit software and would like to send your staff for a comprehensive training on the audit software. Please click here to register for the 2-day audit software, organised by ISCA.
