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ACCA – Wolters Kluwer Joint Event : Getting your EP 200 Documentation right and Avoiding the common PMP Pitfalls

Expert Speaker Magdalene Ang

$430.00 (including GST)



Ethics Pronouncement (EP) 200 provides the anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements and guidelines for professional accountants in Singapore. EP 200 is also adopted by the Accounting and Corporate Regulatory Authority (ACRA) and is applicable to public accountants and accounting entities registered under the Accountants Act.

This programme is part of the Professional Skills Series , designed specifically to provide Auditors practical guidance on the required EP 200 documentation. The recent observations from the PMP Report will also be covered, and you will learn how to avoid the common pitfalls observed.

Programme Outline

  • Overview of the findings from The Financial Action Task Force (FATF) in their review of Singapore's compliance with the anti-money laundering (AML) and countering of terrorism financing (CFT) and implication to Professional Accountants in Singapore
  • Overview of the findings from the Practice Monitoring Reviewer on their findings in their review of the Professional Firm's compliance with EP 200 
  • Understanding the development of Statement of Auditing Practice (SAP) 1 to EP 200
  • Identifying the objectives of EP 200
  • Understanding the definition Money Laundering (ML) and Terrorism Financing (TF)
  • Understanding the process of Money Laundering
  • Understanding the legal obligations & requirements of Professional Accountants (PAs) and Professional Firms (PFs)
  • Understanding the AML & CFT legislation in Singapore
  • Understanding the possible ML & TF red flags
  • Understanding the circumstances that constitute a need to lodge a Suspicious Transaction Report (STR)
  • Understanding the risk based approach to AML & CFT system
  • Understanding the screening requirement that the Professional should screen against
  • Understanding who are beneficial owners 
  • Illustration for CDD processes under different scenarios
  • Understanding the various measures that PFs can implement for Reporting, Training, Compliance, Hiring & Audit
  • Understanding the implication on audit procedures & documentation particularly on : client acceptance & continuance procedures, planning and performing the audit, fraud and laws and regulation.
  • Observations from the 2017 Practice Monitoring Programme
    • Key findings
    • Insights on the common pitfalls observed
    • How to avoid these pitfalls

This workshop qualifies for 3.5 CPE hours in Ethics and Professionalism (Category 2) , and 3.5 CPE hours in Auditing Standards, Pronouncements and Methodology (Category 3).

Expert Speaker

Magdalene Ang

Magdalene is a Chartered Accountant (Practising) (Singapore) and a Fellow Chartered Certified Accountant (FCCA). Her professional experience includes the audit of diverse companies ranging from small and medium enterprises to Singapore listed companies and MNCs. She was involved in Initial Public Offering (IPO) and Reverse Take Over (RTO) roles. She was also a Finance Manager of a US MNC, where she was involved in tax planning, credit control and cash flow management of the Group’s operations in Singapore, Malaysia, China, Indonesia and India. In 2012, Magdalene joined ISCA as a Manager in the Quality Assurance Department, and had launched the Quality Assurance Review Programme, Technical Clinics, and the Online Technical Forum. She contributed monthly articles on audit related topics such as Inventories, Related Parties and many more based on the monthly technical clinics conducted. She was also formerly a Quality Assurance Review Advisor under the ISCA Quality Assurance Review Programme.

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