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FRS 11: Construction Contracts Highlights Of Technical Clinic
On 22 August 2012, a technical clinic on the topic FRS 11 Construction Contracts was held for a group of practitioners facilitated by an experienced practitioner. ICPAS managed to extract some “gold nuggets” from the vibrant discussion by the practitioners and have reproduced them in a Q & A format below for the benefit of [...]
Embracing The Spirit Of SSQC 1 Raising Audit Quality
An increasing emphasis is currently being placed on the implementation of Singapore Standard on Quality Control 1 (SSQC 1) Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements in public accounting firms to improve audit quality. In the recent proposed amendments to the Accountants Act, [...]
Meeting The Grade Why Audit Opinions Matter To Construction Companies
In order to undertake public sector construction projects, a construction company is required to be registered under the Building and Construction Authority (BCA) Contractors Registration System (CRS). The type of construction-related services that the construction company can perform are then based on the registration categories administered under the BCA CRS. These categories are further divided [...]
Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities, Third Edition
This comprehensive implementation guide from IFAC is intended to help practitioners understand and efficiently apply the clarified International Standards on Auditing (ISAs) to audits of small- and medium-sized entities (SMEs). First issued in 2007 and developed with the Canadian Institute of Chartered Accountants, it is designed for use by all practitioners. Volume 1 covers the basic concepts [...]