July 2020 | Mazars X Association of Chartered Certified Accountants
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July 2020 | Auditing and Accounting Impact
Rick Chan, Mazars Partner and Head of Audit & Assurance, was invited to speak at the webinar “Auditing and Accounting Impact from Covid-19” on 3 July 2020. This members-only webinar is hosted by the Association of Chartered Certified Accountants (ACCA).
ACCA’s recent professional insights report on COVID-19 highlights specific implications of the pandemic for auditors. The nature of the audit process requires regular engagement and interaction with audit clients, and movement and access restrictions are creating new challenges for auditors. From challenges in obtaining sufficient audit evidence, to dealing with uncertainties and critical judgements on accounting estimates, auditors will need to explore alternative approaches in completing their audits.
Along with Gajendran Vyapuri, FCCA, Chairman of ACCA Singapore Network Panel, Rick will discuss the following points:
- Accounting considerations from government support measures (FRB2, 5 and 6)
- Assessing the Risk of Material Misstatements
- The Auditor’s Responses to Assessed Risks
- Internal Control Considerations
- Gathering Audit Evidence (e.g.: inventory, fair value and impairment assessments)
- Going Concern Assessment
- Group Audit Considerations
- Subsequent Events
- Forming an Opinion and Reporting on Financial Statement
This webinar was attended by 108 participants. For more information, please visit ACCA.
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