The Institute of Certified Public Accountants of Singapore (ICPAS), the country's national accountancy body, has launched a Professional Certificate in Audit Skills, especially for audit professionals to enhance their technical expertise and update their skills.
This comes on the back of greater emphasis on improving the quality of audit practice, and is in line with the Singapore Government’s vision to develop Singapore into a global accountancy hub by 2020.
In support of this initiative, the National Trades Union Congress’ e2i (Employment and Employability Institute) will provide subsidies to encourage auditors to continually upgrade their skills and contribute to human capital development in the accountancy profession. The training programme, together with the subsidies, will be particularly useful to audit staff working in the Small and Medium-sized Practices.
The Certificate programme, which comprises of three different levels, will provide a series of structured audit training aimed at holistically addressing the training needs of auditors in four key areas: Audit Planning, Audit Testing, Audit Completion and Audit Reporting.
Topics fundamental to the profession such as “Fraud Consideration in Audit”, “Forensic Auditing” and “Code of Professional Conduct and Ethics for Public Accountants” will also be covered. The programme will also renew the practical knowledge of audit professionals through updating them on the latest changes in the Singapore Standards of Auditing (SSAs). The training will be counted towards the participants’ continuing professional education (CPE).
“The role of an auditor has evolved rapidly. There is greater understanding from the public on how good quality audit is essential to all aspects of business, especially corporate governance," says John Lim, ICPAS’ Head of Continuing Professional Education (CPE) division.
Lim adds that corporations are responding to this by demanding higher audit competencies. ICPAS’ Professional Certificate in Audit Skills, designed in accordance with global auditing standards and industry needs, will not only sharpen the audit expertise of the participants but also improve their employability.
"For companies, the certificate represents a stamp of quality for the audit professional,” notes Lim. e2i will offer funding of up to 50 percent of the course fee for trainees of the programme on a limited basis. Applications are open to all Singaporeans and Singapore Permanent Residents. Trainees have to meet requirements in attendance and assessment, among other criteria, in order to be eligible to apply.
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