[Virtual] Two Day Seminar: Financial Auditing for Internal Auditors

Course Code:
CPE Hours:
Course Start Date:
June 25, 2020
Course End Date:
June 26, 2020
9.00 AM - 5.00 PM
Registration Deadline :
June 18, 2020
Level of course:
Level 2
Wong Meng Yun
Competency areas:
Internal Audit Delivery [IAD]
Course venue:

Virtually via video conferencing platform

Course fee (IIA/ ISACA member):
(Inclusive of GST)
Course fee (non-member):
(Inclusive of GST)
Other Memberships valid for discount:
10% off non-member rate for ISCA and ACCA member
Lunch Provided:
Tea Break:
Course Overview:

This 2-day seminar provides attendees who want to understand and expand their roles related to financial reporting, as well as those who simply need a refresher on financial accounting. By exploring concepts that go beyond basic accounting, this session will enable participants to approach financial auditing with renewed confidence.

This seminar is suitable for internal auditors and managers.

Important Note: Participants will be required to utilize laptops or other devices such as smartphone that are compatible with Microsoft Excel and Calculator

Course description :

In this session, participants will learn how key business processes relate to financial statements, as well as the impact of technology on financial auditing. The 2-day seminar will walk participants through an analysis of an organisation’s financial statements using case study exercises, where participants will calculate key ratios and analyse trends over time. Finally, by taking on such topics as “common recipes for cooking the books” and engaging in discussions on both historic and current fraud cases, participants will learn how to recognise “red flags” in financial statement reporting.

Accounting and Auditing Review
• Define key accounting terms
• Understand accounting rules, equations, and basic principles
• Demonstrate how journal entries are used for accounting purposes
• Discuss the Financial Accounting Standards Board’s (FASB’s) GAAP hierarchy according to FASB Statement No. 162
• Perform a risk assessment using the financial auditing process
• Evaluate controls in the audit process by using finance-related management assertions
• Review an IIA Practice Guide about formulating and expressing internal audit opinions

Financial Statements — An Overview
• Review the characteristics of key financial statements
• Recognise the flow of information from source documents to financial statements
• Identify the components of a financial balance sheet
• Distinguish where in an income statement financial accounts should appear
• Calculate key ratios from a company’s financial statements

Business Processes and Accounting
• Differentiate between management-level reporting and consolidated financial statement-level reporting
• Analyse data using horizontal and vertical analysis
• Describe revenue process activities and associated rules
• Describe procurement process activities and associated rules
• Describe fixed asset process activities and associated rules
• Recall key revenue, liability, and inventory-related ratios
• Practice using a risk assessment template to analyse risks, and design and test controls

Recipes for Cooking the Books
• Identify the basic elements of an accounting scandal (fraud)
• Identify the five most common financial “games”
• Calculate financial indices to use in analysing data

Technology and Accounting
• Discuss the risks and control breakdowns of User-developed Applications (UDAs) and best practices for controls over UDAs
• Describe how to minimise risk and limit exposure in using spreadsheets
• Discuss how Enterprise Resource Planning (ERP) supports and automates business processes
• Identify audit techniques to use in performing an application review of a financial audit

Mr. Wong Meng Yun is the Group Financial Controller of a SGX listed company with major offshore marine engineering and ship building/ship repair operations in China.

He started his career in Price Waterhouse and has more than 30 years of professional and leadership experience in financial management, corporate finance, internal and external audit, and treasury management with various multinationals. He graduated from the University of Singapore with a Bachelor of Accountancy degree and is a Fellow of the Association of Chartered Certified Accountants, CPA Australia, the Institute of Singapore Chartered Accountants, the Chartered Institute of Arbitrators, the Institute of Arbitrators & Mediators Australia and the Singapore Institute of Arbitrators.

He is a Certified Treasury Professional (CTP) with the Association for Financial Professionals as well as a Certified Internal Auditor (CIA) and a Certified Financial Services Auditor (CFSA) with the Institute of Internal Auditors with Certification in Risk Management Assurance (CRMA) and Control Self-Assessment (CCSA). He is a Certified Information Systems Auditor (CISA) and a Certified Information Security Manager (CISM) with the Information Systems Audit and Control Association (ISACA). In May 2015, he participated in the inaugural Asia Internal Audit Leadership programme, jointly developed by Singapore Accountancy Commission and the Institute of Internal Auditors Singapore; supported by the Civil Service College, Singapore and facilitated by Temasek Management Services Academy.line

Please contact us at email: iia-academy@iia.org.sg and let us assist with your registration for this training course. Our registration portal is currently undergoing a system upgrade from 9 to 16 June 2020 and we are unable to accept online registrations. We will keep you updated when our services are back online. We apologise for any inconvenience and thank you for your patience and understanding. 

Payment by PayNow/PayLah! transfer

Make the payment of your registration fees via PayNow/PayLah! transfer by following the steps below:


Make the payment of your registration fees via PayNow/PayLah! transfer by following the steps below:

1. Upon completing your registration, proceed to payment and select the “Cheque/Fund Transfer” option.
2. Login to Internet Banking or Mobile Banking.
3. Scan our corporate PayNow/PayLah! QR code.
4. Verify our UEN number (S76SS0058D) and release funds.
NOTE: Kindly include the details below under the UEN/Bill Reference Number (text limit of up to 25 characters).


5. Once payment is made, please print screen the transaction and email to iia-academy@iia.org.sg for our tracking purposes.

Please refer to PayNow and PayLah! for more information.

Group Discount
Register as a group of 4 or more participants for the same course and enjoy a 10% group discount!
Applicable for participants from the same company registered within the same day. Discount will be indicated and processed on a single invoice.

Terms and Conditions
1. Registered participants will be liable for the full fee even in the event of non-attendance.
2. A processing fee of $100 will be imposed for any cancellation. Cancellation must be submitted in writing 7 days prior to the event date and subject to IIAS’s approval. Substitutions will be permitted and conditions will apply.
3. All registrations must "Proceed to Payment" to complete registration. Full payment must be received prior the course commencement.
4. Contact Person will be notified VIA EMAIL upon successful registration of the course.
5. IIAS reserves the right to revise the programme as necessary.
6. IIAS reserves the right to cancel or postpone the training should the minimum class size is not met.


A system generated email will be sent upon successful registration of the mentioned seminar.
Once the course is confirmed, an email confirmation will be sent to the registrants’ contact email addresses 1 week prior to the course commencement date
If you do not receive any email notification regarding your course registrations, please call IIA Academy at 6324 9029

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