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SKILLS FRAMEWORK FOR ACCOUNTANCY TECHNICAL SKILLS AND COMPETENCIES (TSC) REFERENCE DOCUMENT TSC Category Business Law and Regulations TSC Corporate and Business Law TSC Description Respond to the changes in business laws and regulations TSC Proficiency Level 1 Level 2 Level 3 Level 4 Level 5 Level 6 Description ACC-BLR-2001-1.1 ACC-BLR-3001-1.1 ACC-BLR-4001-1.1 ACC-BLR-5001-1.1 ACC-BLR-6001-1.1 Interpret legal agreements Articulate the latest global Apply relevant laws and Analyse the latest global Evaluate latest global and global development to development, relevant regulations to support developments, regulatory and developments, relevant laws support decision making business laws and decision-making legal framework and regulations that are regulations used for risk assessment Knowledge Latest global Latest global Latest global Latest global Latest international laws developments, and developments, and developments, and developments, and and regulations that regulatory and legal regulatory and legal regulatory and legal regulatory and legal affect businesses framework within which framework within which framework within framework within which Latest local laws and the organisation the organisation which the organisation the organisation operates regulations that affect operates operates operates Organisation’s business, the business Organisation’s business, Organisation’s business, Organisation’s environment and industry Financial planning and environment and environment and business, environment in which it operates analysis function industry in which it industry in which it and industry in which it Financial planning and operates operates operates analysis function Impact of legal Impact of legal framework on framework on businesses businesses Impact of global and Impact of global and regulatory developments regulatory on businesses developments on businesses Abilities Interpret the legal Identify the impact of the Assess how changes Assess impact of changes Develop scenario frameworks of business latest legal framework on in global developments in global developments analysis on the impact of Interpret the changes in businesses and relevant business and relevant business laws and regulations on global developments and Identify latest global and laws and regulations laws and regulations to an organisation’s relevant business laws regulatory developments impact engagement organisation financial position and regulations and its impact on the Apply changes in Develop scenario analysis Link changes in laws business global developments on the impact of laws and and regulations to the and relevant business regulations on an financial planning and laws and regulations organisation’s financial analysis function. during course of position Educate the Board of engagement Link changes in laws and Directors about public regulations to the financial organisation’s legal planning and analysis responsibilities to function disclose information Influence the finance Influence the finance function to adapt to new function to adapt to new regulations regulations ©SkillsFuture Singapore Effective Date: September 2017, Version 1.1 Page 1 of 2 SKILLS FRAMEWORK FOR ACCOUNTANCY TECHNICAL SKILLS AND COMPETENCIES (TSC) REFERENCE DOCUMENT ©SkillsFuture Singapore Effective Date: September 2017, Version 1.1 Page 2 of 2
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