Programme - Singapore Institute of Directors

SID Essentials Series
Director Financial Reporting Essentials (DFE)
Co-organised by:
Singapore Institute of Directors (SID) and Institute of Singapore
Chartered Accountants (ISCA)
Supported by:
Accounting and Corporate Regulatory Authority (ACRA)
CPD Hours:
Monday, 13 April 2015
9.00 am to 5.00 pm (Registration from 8.30am)
Capital Tower, 168 Robinson Road, FTSE Room, Level 9
6 hours
$618 (ACRA subsidy of $300 per eligible director of any Singapore
incorporated company)
Programme Outline
This one-day course aims to equip directors of listed and non-listed companies, who have limited or no
financial or accounting background, with the basic accounting knowledge as well as practical tips and
considerations when reviewing their company’s financial statements for approval. This includes how to
work with the auditors to resolve any concerns raised, including complex accounting matters.
Some of the course topics include:
• Internal controls over financial reporting
• Accounting framework and standards
• Basic financial reporting requirements
• Questions to be raised when reviewing financial statements
• Findings from ACRA’s Financial Reporting Surveillance Programme
• What an audit entails and how to work with your auditors to resolve issues
• Directors’ duties and review expected for XBRL filings
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To further strengthen the quality of financial reporting in Singapore, this course aims to equip
company directors with basic financial reporting skills. SID and ISCA have partnered to present the
Director Financial Reporting Essentials training course, a one-day financial programme for directors
who do not have a professional finance background.
In 2011 ACRA established the Financial Reporting Surveillance Programme (FRSP) where financial
statements of selected companies are reviewed. From April 1, 2014 the practice direction, “Directors’
Duties Regarding Financial Reporting and Review and Sanction Process of the Financial Reporting
Surveillance Programme Administered by ACRA” will come into effect.
The financial reporting course is part of ACRA’s strategic plans to work with industry and key
stakeholders to ensure that the market remains confident in the level of transparency, integrity and
quality of financial reporting. Directors are therefore strongly encouraged to attend the Director
Financial Reporting Essentials course.
Subsidy for Course Attendance
The first 3,000 directors who voluntarily attend this training before 31 March 2016 will be entitled to
a subsidy of $300 per individual (about 50% of the course fees). This subsidy is provided by ACRA and
will be paid to each eligible participant upon satisfactory completion of the programme and the
provision of relevant information on their directorship.
9.00 am
9.15 am
10.30 am
11.00 am
12.30 pm
1.30 pm
3.00 pm
3.30 pm
5.00 pm
Welcome and overview
Session 1: Introduction
Session 2: Directors’ legal obligations in relation to financial reporting
Tea Break
Session 2: Directors’ legal obligations in relation to financial reporting (continued)
Session 3: Financial reporting
Session 3: Financial reporting (continued)
Tea Break
Session 3: Financial reporting (continued)
Session 4: Next steps (summary and resources)
End of programme
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About the Trainer
Edgar Wong Mun Wai
Managing Director, Asiaf1rst Corporate Compliance Pte Ltd
Edgar held positions in banking, insurance and property sectors; and managed projects and business
units over several jurisdictions. He has worked in Standard Chartered Bank and NTUC Income.
Currently, his firm is providing professional services to small and medium enterprises on finance, tax
and business development issues. He is also appointed in different capacities to oversee
administrative and finance responsibilities in businesses.
Edgar is also active in the area of education. He is appointed lecturer to ACCA, ATTS and degree
programmes with premier education providers in Singapore. He specializes in financial and
management accounting; and taxation.
Please register online at by 6 April 2015.
Should you require assistance, please contact us at:
The Secretariat
Tel: 6422 1188
Fax: 6422 1199
Payment Policy & Options
1. Payment is due and payable upon registration.
2. Cheque Payment
Payable to: Singapore Institute of Directors
Attention: Accounts
Mailing Address: 168 Robinson Road, #09-06/07 Capital Tower, Singapore 068912
3. Telegraphic Transfer
Bank Name: DBS Bank Limited
Branch: Raffles Place Branch
Bank Code: 7171
Beneficiary Name: Singapore Institute of Directors
Account Number: 048-016620-2
Swift Code: dbsssgsg
(Note: All bank charges are to be borne by the applicant)
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Important Notes
1. An invoice will be generated when you register online. An official receipt will be sent when
payment is received.
2. CPD hours/attendance letter is subject to the participant arriving no later than 30 minutes
after the programme starts or leaving no more than 30 minutes before the programme ends,
and submitting the module Assessment Form only at the end of the event.
3. There are no complimentary parking vouchers available. Capital Tower parking is $2.80 per 30
mins. We suggest you take public transport. The Tanjong Pagar MRT station of the East-West
Line is just below the building.
Registration, Refund & Cancellation Policy
1. No refund or postponement will be given if participant wishes to withdraw from the event.
However substitute delegates are welcomed, subject to SID being notified at least 3 working
days before the event of the details of the substitute delegate. As membership of SID is
non-transferrable, in the event the substitute delegate is a non-SID member replacing a SID
member, the difference in course fees must be paid to the Institute before the event.
2. SID reserves the right to refuse admission if payment is not received in full and before the event.
3. SID reserves the right to cancel or make adjustments to the seminars/events.
4. The fees will be charged accordingly if participant fails to attend the event after registration.
Subsidy Eligibility and Payment
1. An eligible director can claim a $300 subsidy for the cost of the 1-day programme.
2. An eligible director is a director of any Singapore incorporated company who has voluntarily
attended and completed the training programme.
3. The full course fees will be collected and subsidy will only be paid after ACRA has confirmed
to SID that the director is eligible. All ACRA decisions are final.
4. The subsidy will be paid by SID within 3 months of the course completion directly to the
director or his/her company.
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