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Business Valuation Best Practices for Small and Medium-sized Accounting Practices

Programme Overview

The use and importance of fair value measurement has been increasing in today’s financial reporting environment. Audits of fair value measurement are demanding and challenging because valuations typically involve significant professional judgment, inputs and estimates adopted by management or third-party valuation professionals.

Given the strong emphasis on fair value measurement in current times, and its significant impact on financial statements, audit practitioners may encounter business valuation issues and challenges.  It is therefore imperative for audit practices today to ensure that sound processes are in place and resources are appropriately managed to handle valuation related matters pertaining to financial reporting requirements.​ 


Learn practical aspects of setting up and managing a business valuation practice

Learn essential technical and business processes with proper risk management

Understand key issues and challenges faced by practitioners in SMPs

  1. Why this programme

    Taking a risk management approach, this programme created jointly by NTU, Savills and ISCA:

    • provides guidance on the best practices and key processes for a business valuation practice
    • is specially curated for Small and Medium-sized Accounting Practices (SMPs) to enhance and equip them with the necessary skill sets and competencies required to effectively set up and manage a business valuation practice
    • enables SMPs to better support their existing audit processes, and to contemplate offering a new advisory service to clients, if they so desire.
  2. Programme Structure

    You will learn the practical aspects of setting up a business valuation practice with proper risk management, technical and business processes in place. Some key issues and challenges faced by practitioners in managing a business valuation practice will also be discussed:

    Topics Covered
    Day 1 - Business valuation profession in Singapore and the regulatory developments.

    - Business valuation eco-system and the standards setters.

    - Financial reporting standards (FRS) and international valuation standards (IVS).

    - Competency framework and professional membership obligations (PMO).
    Day 2 - IVS framework, general and asset standards.

    - How to organise and use data from different sources to solve problems

    - Building analytical solutions: case studies and practical examples
    Day 3 - Role of business valuer in financial reporting environment.

    - Business combinations and purchase price allocation.

    - Valuation of intangible assets.

    - Impairment testing.
    Day 4 - Risk management and key processes of business valuation practice.

    - Practice management workflow.

    - Documentation and working papers.

    - Assessment
  3. Who Should Attend

    Audit practitioners from Small and Medium-sized Accounting Practices (SMPs)

  4. Programme Dates and Venue

    To minimise disruption from work, the 4-day workshop is staggered over two periods:

    Date:
    Intake 2​: 14 - 15 Jul 2020 & 28 - 29 Jul 2020

    Venue:
    Classes will be conducted at NTU@one-north, Executive Centre
    Address: NTU@one-north, 11 Slim Barracks Rise (off North Buona Vista Road), Singapore 138664

    MRT: Buona Vista Station (Exit D)

  5. Programme Fees & Funding​

    Full programme fee: S$ 4,300 (before GST)

    Fees payable after SkillsFuture Singapore (SSG) funding:

    ​​​​Programme Fee In SGD

    Fee before funding & GST Fee after funding & GST
    Singapore Citizens / PR (aged ≥ 21) $4,300 $1380.30
    Singapore Citizens (aged ≥ 40)
    MCES1 - up to 90%
    $4,300 $520.30
    Singapore Citizens eligible for WTS
    WTS2 - 95%​
    ​$4,300 $305.30​
    SME-sponsored Singapore Citizens / PR
    ETSS3 - up to 90%
    $4,300 $520.30
    Participants without funding
    $4,300 $4601.00

    1. Under the SkillsFuture Mid-career Enhanced Subsidy (MCES) scheme. For more information, visit the SkillsFuture website here.
    2. Under the Workfare Training Support (WTS) scheme. For more information on the scheme, click here.
    3. Under the Enhanced Training Support for Small & Medium Enterprises (ETSS) scheme. For more information, click here​.

    SkillsFuture Credit
    In addition to the above funding, Singapore Citizens aged 25 and above and self-funded may use their SkillsFuture Credits to defray part of the net course fee after funding.

    Participants who wish to use their SkillsFuture Credit can download the SFC Claim form here​. Please submit the SFC claim form via email to nep@ntu.edu.sg at least 1 month before course start date.​​​

    Funding Requirements
    - Participant must achieve a minimum of 75% attendance for the programme.
    - Participant must complete a written assessment on the final day of the course

    Participants do not need to contact Skillsfuture or SkillsConnect for funding prior to course registration. NTU will handle the funding paperwork for both self and company-sponsored participants. Participants will be invoiced the net amount after funding and GST.

  6. Testimonials

    “This programme is very structured and well presented. It is more useful than I expected and I would strongly recommend it to other SMPs.”

    Liew Chin Sien, Director, Aristi Consultant Pte Ltd 
     

    “As a practising accountant, it is necessary to have the basic knowledge of business valuation best practices. The programme has served the purpose perfectly.”

    Joanna Young, Partner,  J. S. K. Young & Co.
     

    “The 4-day programme has widened and deepened my understanding of this industry and it was a fast and comprehensive way to boost my confidence in dealing with business valuation matters in future.”

    Chen Thian Zte, Audit Partner, Kreston David Yeung PAC
     

    “I am glad that such a professional course has been made available as I am an auditor by training and experience. To be able to get an insight on how the valuation practice operates is quite an eye-opening experience. I am now able to better understand how the valuation process plays a part in relation to commercial proceedings. Some practices and principles of the valuation business are also good measures that I have learnt to adopt as part of my business.”

    Andrew Sim, Director, Acctrust Assurance PAC

                                 
    “I found that the course is very informative. The facilitators are very knowledgeable. As a practitioner, I received some information that clarified some of my burning questions.”

    Lai Keng Wei, Valuation Partner, Mazars LLP

  7. Information Session

    Join us at our information session to find out more about the Business Valuation Best Practices for Small and Medium-sized Accounting Practices (SMPs)

    Date: 13 November 2019

    Time: 6.30pm - 8.00pm

    Venue: ISCA House, Level 3, 60 Cecil Street, Singapore 049709.

    Click here to register for the information session.

    Seats are limited and will be allocated on a first-come-first-served basis.

    For any enquiries or to register for the info session, please contact ISCA CPD at cpdinfo@isca.org.sg

  8. Programme Director / Trainers

    Eric Teo
    Head of Business Valuation and Advisory, Southeast Asia, Savills
    Founding Chairman, Institute of Valuers and Appraisers of Singapore
    Adjunct Associate Professor, Nanyang Business School, NTU


    Eric Teo is the Head of Business Valuation and Advisory, Southeast Asia at Savills and is an adjunct associate professor at the Nanyang Business School, NTU. He also serves as an adjunct associate professor/faculty at other universities such as Murdoch University, SIT, SMU, SUSS. He was an Executive Director with Ernst & Young (EY) and has worked in both the Singapore and Australia Valuation Practices. He led the EY Asia Pacific Valuation Technical Standards Group from 2012 to 2015 and was involved in the development of learning curriculum and materials for the global valuation practice. Eric has conducted business valuation for transactions and financial reporting for companies from various industries and his clients include SMEs, GLCs, MNCs and public listed groups.

    Eric is the Chairman of the International Valuation Standards Council (IVSC) Membership and Standards Recognition Board. The IVSC is the global organisation which produces the International Valuation Standards (IVS) for the valuation profession. Eric is also the Founding Chairman of the Council of the Institute of Valuers and Appraisers of Singapore (IVAS). The IVAS is an institute set up to advance the business valuation profession under the auspice of the Singapore Accountancy Commission. He also serves as a board member of the Intellectual Property Office of Singapore (IPOS). Eric is a Chartered Accountant (Singapore), Chartered Accountant (Australia and New Zealand), CPA (Australia), Chartered Valuer and Appraiser (Singapore), Senior Fellow of Finsia and Fellow of the Royal Institution of Chartered Surveyors (RICS).


    Patricia Tan M.S.
    Associate Professor, Nanyang Business School, NTU
    Division of Accounting


    Patricia Tan M.S. is an associate professor of accounting at the Nanyang Business School, NTU. She has a PhD Degree in Accounting from the University of British Columbia, and is a Chartered Accountant of Singapore. Prior to joining academia, Patricia worked as an external auditor in one of the international audit firms.

    Her research interests are in financial reporting issues and her work has been published in both professional accounting and top academic journals in the field. She has also jointly conducted various financial reporting consultancy projects. She has taught courses at many levels, including undergraduate, MBA, MSc and Nanyang Fellows. In recognition of her innovation in curriculum development and teaching pedagogy, she was awarded Teacher of the Accounting Division in 2004 and Nanyang Fellows Teacher of the Year in 2012. She currently serves on the Public Transport Council.


Business Valuation Best Practices for Small and Medium-sized Accounting Practices

 
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