Day 2
Thought Leadership Keynote Panel by
Dr Nadir Zafar & Mr Ho Kwon Ping

Day 2
SSA 600 (Revised)- What has Changed for Group Audit? by
Ms Tan Bee Nah

Day 1
Track 2: Future-Ready Governance: Harnessing Technology for Public Sector Innovation by
Mr Sim Feng-Ji

"Re-connecting with old friends and getting to know new colleagues while learning new topics is time well spent."

"The environment and food made for an enjoyable and conducive mix of learning and networking."

"A well organised ISCA Annual Conference. This year, the format was larger, grander and better. The Institute really pushed themselves to exceed their own standards yet again. Great attention to details by the organising team."

"The conference covered a wide range of compelling topics, brought to life by expert speakers and participant's contribution and questions."

Mr. Mike Driver shared his experience from the UK on how public sector finance needs to play a central role in organisations, to include risk management and shared services. He also shared playbooks on how the finance teams can support in guiding decisions, working with senior leaders, using standard processes, leveraging technology, and building trust. 

Mr. Sim Feng-Ji discussed how emerging technologies are transforming the public sector, focusing on digital transformation and navigating tech disruptions for innovation.

He also answered questions from the floor on how risks should be mitigated with the use of the latest technology.

Mrs Chia-Tern Huey Min updated the public sector on the Accountancy Workforce Review, Ms. Goh Soon Poh talked about how AGO had transformed its workforce to meet evolving needs, along with a new Competencies Guide. Ms Esther Wee shared on AGD’s initiatives to implement AWRC’s recommendations which aimed to uplift the public sector Finance Profession.

Dr. El'fred Boo Hian Yong enlightened the participants about the intersection of ethics and AI.

He emphasised that there must be commitment from different key players to make responsible AI framework more robust and complete.

Mr. Chen Voon Hoe recapped on various aspects of financial reporting transformation including challenges shaping financial reporting today; updates to the SFRS(I) standards effective from 2024-2027; tax changes including BEPS Pillar Two rules and accounting implications and Singapore’s new tool to attract investments - Refundable Investment Scheme and its accounting implications and sustainability reporting developments focusing on impact of climate change in financial statements. He also spotlighted various ISCA’s technical guidance which had been issued to aid the profession e.g. FRB 11 on accounting for carbon credits which was newly released at the conference, and Technical Bulletin 1 on accounting and auditing of climate change impacts.

Mr Anand Sachdev, Mr Adrian Chua and Ms Chua Siew Hwi discussed how CFOs have evolved to encompass a wide scope across digitalisation, sustainability, people transformation by moving employees up the value chain through embracing technology. Participants also attained tips for transitioning to CEO or Executive Director roles through business acumen and strategic partnerships.

Ms. Yvonne Chiu opened the segment by outlining key review areas for FY2024 financial statements, focusing on macroeconomic uncertainties, climate-related events, and new accounting standards. Respectively, she then led a fireside chat with Ms. Tan Wee Khim and Mr. Aylwin How, discussing common issues such as the impairment of non-financial and financial assets under SFRS(I) 1-36 and SFRS(I) 9.

Ms. Mariam Ashroff advocated the integration of ESG criteria into investments, as it helps to manage risks and uncover opportunities. She also shared tools like the ESG Navigator that provides data-driven insights and aligns financial returns with sustainability and social responsibility.

Dr. Tan Mei Hui updated everyone on the latest cybersecurity threats and essential strategies like data encryption, incident response, and employee training to ensure resilience and business continuity.

Ms. Ng Meow Ling presented key quality control and engagement inspection findings from this report. She shared good practices for the audit profession and highlighted initiatives and collaborations to support the profession in developing the right capabilities and capacities, thereby raising overall audit quality in Singapore.

Citing the case of Herbalife, Mr. Vikna Rajah provided insight into the key moments and pivotal decisions surrounding the case. He highlighted what practitioners need to know the intricacies of GST and how to navigate tax disputes and compliance.

Mr. Neo Sing Hwee moderated a thought-provoking discussion with Mr. Jarrod Baker and Mr. Aaron Lee, exploring how directors can proactively strengthen governance and compliance. The panelists shared the powerful observation, 'If you think ignorance is bliss, then there are pitfalls for ignorance,' and discussed the critical need for a whistleblowing culture, robust risk management strategies, and effective crisis response plans.

Ms Tan Bee Nah explored how the key changes and enhancements to SSA 600 (Revised) will reshape group audits and drive audit quality. She also spotlighted ISCA’s Audit Bulletin 6, developed to support the profession in addressing implementation challenges, including applying the new risk-based approach in planning and performing a group audit engagement.