• Thomas Tsang

Circuit breaker

The COVID-19 and circuit breaker in Singapore is a subsequent event for company with financial year ended 31 Dec 2019, or a mixture of event and subsequent event for company with year ended 31 Mar 2020.


The management of the company will need to assess the impact to the company in 2020. An appropriate disclosure note is recommended to the financial statements.


The auditor should make a professional judgement on the impact to his opinion.

6 views0 comments

Recent Posts

See All

In contract revenue to recognise using input method, one of the key audit procedures is to ascertain the budgeted cost of the project contract is reasonable. We need to test the underlining assumptio

For change of accounting policy for PPE from cost model to revaluation model. It is not follow FRS 8 as exempted from prior year adjustment. The change will apply prospectively from the date of reva

When receivables classified from current to non-current, it needs to be measured at fair value upon reclassification. The different will be charged to profit and loss. It is because the receivables