For Small and Medium-sized Accounting Practices

The use and importance of fair value measurement have 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 on financial reporting requirements.​ 

Jointly created by Nanyang Technological University (NTU), Institute of Singapore Chartered Accountants (ISCA), and Savills, our Business Valuation Best Practices programme is specially curated for directors/audit practitioners of SMPs to equip them with the necessary knowledge and skills to effectively set up and manage a business valuation practice.

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

Strategic Thinking

Learn essential technical and business processes with proper risk management

Understand key issues and challenges faced by practitioners in SMPs

Taking a risk management approach, our 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.

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

This programme is approved by ISCA for 28 CPD hours.

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

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

Date:
Part 1 - 21 and 28 January 2022 (Open for application)
Part 2 - 17 and 18 February 2022 (Open for application)

Venue:
NTU@one-north, Executive Centre
Address: 11 Slim Barracks Rise (off North Buona Vista Road), Singapore 138664
MRT: Buona Vista Station (Exit D)

Nanyang Executive Education reserves the right to change the date, venue, and mode of delivery due to unforeseen circumstances or prevailing government advisory.

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

Fees payable after SkillsFuture Singapore (SSG) funding:​

Programme Fee in SGD
 Fee BEFORE funding & GSTFees AFTER funding & GST
Singapore Citizens (aged 21-39) / PR (aged ≥21)
70% Funding
​$4,300$1380.30
Singapore Citizens (aged ≥40)
MCES1 - up to 90%
​$4,300$520.30
SME-sponsored Singapore Citizens / PR
ETSS2​ - 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 Enhanced Training Support for Small & Medium Enterprises (ETSS) scheme. For more information, click here.

SkillsFuture Credit 
On top of the above funding, Singapore Citizens, aged 25 and above and self-sponsored may use their SkillsFuture Credit to defray part of the net course fee. 

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

Funding Requirements:
- Participant must achieve at least 75% attendance for the programme. 
- Participant must complete and pass all assignments / assessments as assigned by the trainer.

“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
Eric Teo
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).

For more information about this programme, please contact:

Jessica Leong
Deputy Director
Telephone: (65) 6904 7249
Email: nep@ntu.edu.sg