This publication provides a summary of the ISCA Ethics Pronouncement (EP) 200, “Anti-Money Laundering and Countering the Financing of Terrorism – Requirements and Guidelines for Professional Accountants in Singapore”. EP 200 covers legal obligations of professional accountants under the existing... Read More
Ethical standards for the accountancy profession are unique. It is not just dealing with matters of fact- that is, whether or not an accountant is actually behaving ethically; it is also about addressing public perception and expectations. Accountants play many public interest roles. In these roles,... Read More
Accountants generally want to do the right thing, including escalating significant issues to TCWG and to an authority. However, in the real world, whistleblowing often creates a dilemma not just for an accountant but for any persons, and their concerns are understandable.Currently, the International... Read More
It is generally acknowledged that fraud is a serious problem for businesses of all sizes, costing billions of dollars each year.
a. Studies suggest that businesses may lose as much as 6% of revenue every year to fraud – which would equate to S$885 billion of the nation’s 2010 gross national... Read More
A professional accountant need not be a criminal participant in a client’s illegal scheme to be liable for charges. If the professional accountant is unable to establish a reasonable defence, he is still at risk of being held liable for assisting a money laundering crime.
Read about the write up... Read More
In March 2014, Deloitte held Financial Crime Strategy conferences in Singapore, Jakarta and Hong Kong. Choosing Singapore as the first location globally to launch the programme, the three-city symposium series, sponsored by IBM, gave delegates – senior decision-makers within the risk compliance and... Read More
ISCA recommends that IESBA consider bringing forward the work stream on fee dependency (due to start in 2Q2016) to 2015. Fee dependency is a key risk to auditor independence because it can affect the behaviour of auditors when undue pressure is placed by an audit client. Thus, the issue of fee... Read More