ICPAS-ICAEW EU Green Paper on Audit Policy Forum
|Event Date/Time: Sep 09, 2011|
The audit profession is at a crossroad. As the role of the auditor becomes increasingly scrutinised under the spotlight following recent global financial turbulence, it is vital that the accountancy profession re-examines the role of audit and assurance and comes up with constructive, practical ways which both can improve and continue to benefit businesses, the economy and society in the 21st century.
In October 2010, the European Commission launched a broad consultation on role of the statutory audit as well as the wider environment within which audits are conducted. The debate on the future of audit is a major opportunity to enhance audit quality, choice and market confidence. It is also part of a wider scheme of reforms to stabilise the capital markets and enhance the financial system. Most importantly, audit has to remain relevant.
In view of this, the Institute of Certified Public Accountants of Singapore (ICPAS) and the Institute of Chartered Accountants in England and Wales (ICAEW) jointly organise a forum convening a distinguish panel of experts from both Institutes to discuss the issues raised in the Green Paper on Audit Policy.
This forum aims to provide a strategic platform that brings together both ICAEW & ICPAS members to exchange their views on the issues raised, which may potentially affect public interest as well as the future audit environment.
There will be a 40mins presentation on the Green Paper by Mr Robert Hodgkinson, Executive Director (Technical) from ICAEW followed by a 60mins panel discussion on â€œThe Future of Global Auditâ€.
We will look into a few areas:
â€¢ Addressing expectation gaps between auditors and investors
â€¢ Identifying systemic risks arising from audit marketâ€™s concentration
â€¢ Examining conflicts of interest in the current audit system and environment
â€¢ Examining the proportionality of regulatory compliance vis-Ã -vis administrative cost
â€¢ Clarifying role of audit committees
Moderator & Panelists:
This session will be moderated by ICPAS Auditing & Assurance Standards Committee Chairman, Mr Yeoh Oon Jin, Partner, PricewaterhouseCoopers LLP
1. Dr Ho Yew Kee, Vice Dean, Finance & Administration, National University of Singapore
2. Mr Robert Hodgkinson, Executive Director, Technical, ICAEW
3. Mr Michael Izza, Chief Executive, ICAEW
4. Ms Julia Tay, Chief Inspector/Director, Profession Oversight Division, Accounting and Corporate Regulatory Authority
5. Mr Reggie Thein, Member of Executive Committee, Singapore Institute of Directors
6. Mr Yap Chee Meng, Chief Operating Officer, KPMG in Asia Pacific
Who Should Attend:
Practising accountants and audit professionals who like to find out more about the developments and potential changes to the auditing system in European Union.
All audit professionals are welcome to join us at this forum.
Please visit our website for more information.