LED5 - Audit Committee Essentials

Course Description Audit Committees (AC) are mandatory for listed entities in Singapore and provide financial governance and oversight. The module covers the important role and duties of the AC, how it should be structured, its functions and regulatory obligations and duties. Key concepts in risk management and internal controls, including control deficiencies, fraud, whistleblowing, data analytics and anti-money laundering, are explained. The roles and duties of the internal auditor and external auditor, and their relationships with the AC, are examined.

Various aspects of financial reporting are also explored, such as accounting standards, report structure, compliance requirements and ACRA’s financial reporting surveillance programme. An explanation of interested person transactions and related party transactions, is provided.
Course Objectives
  1. Understand the role, duties and responsibilities of a director appointed to the AC.
  2. Emphasise the essentials of internal controls and financial reporting.
  3. Recognise the AC’s relationship and interactions with internal and external auditors.
  4. Highlight key trends and developments that ACs need to be aware of.
Course Outline
  1. AC Composition.
  2. AC Agenda.
  3. Risk Management and Internal Controls.
  4. Internal Audit.
  5. External Audit.
  6. Financial Reporting.
  7. Interested Person and Related Party Transactions (IPT/RPT).
  8. Panel Discussion and Wrap Up.
Level Essentials.
Target Audience
Aspiring, new and current directors, C-suite and senior management of listed companies.
Course Duration Half day (lunch provided).
Delivery Classroom lecture, discussion, case studies and Q&A.
Cost SID Member : $420 (excl. GST); $449.40 (incl. GST).
Non-SID Member : $580 (excl. GST); $620.60 (incl. GST).
CPD Hours 4 hours.