24th January 2014
Singapore’s national accountancy body has agreed with ICAEW to offer a globally recognised designation to local professionals.
The Institute of Singapore Chartered Accountants (ISCA), has signed a memorandum of understanding with ICAEW - the Institute of Chartered Accountants in England and Wales - to establish the ICAEW-ISCA Pathways to Membership scheme.
It will run for two years between January 2014 and December 2015 and enables ISCA members to become an ICAEW Chartered Accountant. To be eligible, accountants must be a fullISCA member of at least five years, be of “good standing” and possess relevant post-qualification experience in an accounting or business environment.
With this scheme, accounting professionals in Singapore would be able to attain ICAEW’s Associate Chartered Accountant (ACA) designation, which is recognised globally. It will also provide access to thought leadership, technical updates and a range of career development programmes.
ISCA president Dr Ernest Kan believes the deal shows the high standard of accountancy in Singapore. He said: “The scheme with ICAEW is in line with ISCA’s vision to be a globally recognised professional accountancy body, adding value to our members, the profession and wider community.
"The prestigious Associate Chartered Accountant designation is globally recognised. Members who have both an ISCA and an ICAEW membership would have a strong competitive edge and greater career mobility worldwide.”
Arthur Bailey, deputy president of ICAEW, says the agreement is simply a “natural progression” of the body’s long-standing collaboration with accountants in Singapore. He added: “It not only provides eligible ISCA members with a great opportunity to obtain membership of ICAEW and the right to use the highly regarded ACA designation, but also gives them access to a wealth of resources, including thought leadership, updates on the latest standards and a vast library.”
It comes as ISCA announces an agreement with Singapore’s Accounting and Corporate Regulatory Authority to strengthen financial reporting scrutiny in the Asian financial powerhouse.