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