Event Outline:

In an era of rapid regulatory evolution, economic uncertainty, and heightened stakeholder scrutiny, staying current is no longer optional—it's imperative for credibility, compliance, and competitive advantage. This comprehensive and timely workshop is meticulously designed to be more than just an update session; it's a strategic deep dive into the latest technical pronouncements that are reshaping the profession.

We bridge the gap between abstract standards and practical implementation. By moving beyond the text of the pronouncements, we focus on the "how" and the "so what," equipping you not only to understand the changes but to implement them effectively within your organization or audit practice. Our expert-led discussion will utilize a case-based approach, featuring practical examples, illustrative scenarios, and real-life case studies that mirror the complex situations you encounter daily.

Event Modules:

Module 1: Financial Reporting Standards (FRS) – Responding to a Modern Economy

This module decodes significant shifts in financial statement preparation, ensuring your reporting reflects contemporary business realities.

· FRS 109 & The Digital Frontier: Tackle the accounting complexities of Electronic Payment systems. We'll examine practical issues in derecognition, timing, and processing fees.

· Green Finance & Accounting: Demystify the classification of financial assets with ESG-linked features. How do sustainability performance targets affect contractual cash flow and business model assessments? Real-world instrument examples will be analyzed.

· Transparency in Investments: Unpack the FRS 107 disclosure enhancements for FVOCI equity investments. Learn what new information must be presented and the rationale behind it for investor clarity.

· A New Face for Financial Statements: FRS 118 represents a major overhaul in presentation and disclosure. We will work through comparative examples of statement formats, dissect new disclosure requirements on categories like operating expenses, and discuss the strategic impact on how your company's performance is communicated.

Module 2: Auditing Standards – Elevating Quality and Responsibility

Audit quality is under the microscope. This module focuses on the revised standards that demand enhanced judgment, communication, and skepticism.

· Clarity in Reporting and Governance: Analyze the narrow-scope amendments to SSA 700 and SSA 260. Understand the evolving expectations for the auditor's report and for more effective, two-way communication with those charged with governance (TCWG), including Audit Committees.

· The Fraud Challenge Revisited: ISA 240 (Revised) places a sharper focus on the auditor's responsibilities. We will explore practical procedures for identifying and responding to fraud risk, moving beyond checklists to a more robust, skeptical mindset.

· Going Concern in Uncertain Times: With ISA 570 (Revised 2024), the assessment of going concern is more critical than ever. Learn the updated requirements for management and auditors, including stress-testing assumptions and evaluating the adequacy of disclosures related to material uncertainty.

Module 3: Ethics Pronouncements – Navigating the Gray Areas

Integrity is the profession's cornerstone. This module confronts the most pressing ethical dilemmas, providing a framework for principled decision-making.

· The Expanding Scope of Public Interest: Navigate the revised definition and expanded list of Public Interest Entities (PIEs). Discuss the significant implications for audit independence, rotation, and the new disclosure requirements that increase transparency for PIEs.

· Tax Practice at the Crossroads: The revision on tax planning tackles the profession's most sensitive "gray zone." Through engaging case studies (like the WTY vs CIT and 99-1 property cases), we will dissect:

· The ethical line between acceptable planning and aggressive avoidance.

· The practical application of establishing a credible basis for a tax position.

· Performing the crucial "standback test" to evaluate the overall propriety of advice.

Key Takeaways:

Upon completion of this workshop, you will be equipped to:

1. Implement Specific Technical Changes with Confidence

2. Navigate Ethical and Professional Gray Areas with a Clear Framework

3. Enhance Communication and Governance Practices

4. Adopt a Proactive and Strategic Mindset

5. Leave with a Personalized Action Plan

Who Should Attend:

Accountants & Financial Controllers

CFOs & Finance Managers

Audit Professionals & Internal Auditors

Directors & Audit Committee Members