ISCA issued the new and revised auditor reporting standards in July 2015, which are effective for audits of financial statements for periods ended on or after 15 December 2016. ISCA has heard from stakeholders on the actual experiences in the implementation of the standards as well as the practical...
Annual reports help investors decide where to put their hard-earned money. More insightful disclosures can therefore improve corporate transparency and enhance investors’ decision-making. This in turn boosts the trust and confidence of investors and other stakeholders in capital markets.
Questions have been raised as to whether the annual report prepared by a statutory board as required by the relevant statutory board act is considered “other information” (OI) within the scope of SSA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information.
The Accounting Corporate Regulatory Authority (ACRA), the Institute of Singapore Chartered Accountants (ISCA) and the Securities Investors Association Singapore (SIAS) have jointly produced a Guide to help investors better engage company directors, management and auditors. This Guide on the enhanced...
SSA 600, Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors) states that if the group engagement team plans to request a component auditor to perform work on the financial information of a component, the group engagement team shall obtain an...
Section 201 (16) of the Companies Act requires the financial statements of a Singapore incorporated company to be accompanied by a Directors’ Statement. The Directors’ Statement accompanies the financial statements and the auditor’s report, and is therefore, other information (OI) within the scope...
This report, jointly produced by the Association of Chartered Certified Accountants (ACCA) and ISCA, draws on a roundtable held in Singapore in November 2015. The roundtable involved directors from Singapore and Malaysia who chair and sit on various audit committees, and representatives from...