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19 October 2023 – The Institute of Singapore Chartered Accountants (ISCA) and Singapore Management University (SMU) have signed a Memorandum of Understanding (MOU) to advance the skills and knowledge of accounting professionals in Singapore, as well as to enhance the appeal of the accountancy profession.
Under the agreement, ISCA and SMU will collaborate on initiatives and utilise the University’s platforms such as open house events, industry-related career fairs and student outreach events, with the aim to promote the accountancy profession to prospective talents. SMU Accountancy undergraduates will also be receiving support if they pursue the Singapore Chartered Accountant Qualification (SCAQ), including programme fee waivers for the top 5% of the graduating cohort.
Furthermore, this partnership will see SMU and ISCA explore research opportunities to produce and publish international research papers relating to essential topics within the accountancy sector. Subject matter experts from ISCA and SMU School of Accounting (SOA) faculty members will also be valuable resources in relation to member or industry engagement activities organised by either organisation. Finally, the partnership will also involve the development of training courses for ISCA members and non-accounting professionals.
Professor Timothy Clark, Provost of SMU and ISCA President Mr Teo Ser Luck signed the MOU at ISCA House, witnessed by Ms Yvonne Chan, CEO and Vice-President of SMU, and ISCA CEO Ms Fann Kor.
These efforts are significant and timely, especially in light of challenges facing the sector, as highlighted by Deputy Prime Minister Lawrence Wong in June 2023. Given today’s complex business environment, characterised by global trends in technological advancements and ever-changing regulations, accounting professionals must continually upskill to stay competitive and relevant in the field.
To meet the evolving needs of finance and accounting professionals, SMU Academy has been offering cutting-edge courses including the Certificate in Accounting Data Analytics and Visual Analytics with Tableau for Accounting and Finance Professionals, introduced in 2018 and 2019 respectively. Both courses are taught by SMU faculty members from the SOA and School of Computing and Information Systems. These courses have collectively benefitted more than 200 finance professionals to-date.
Ms Yvonne Chan, Chief Financial Officer of SMU and former Vice President of ISCA was personally very heartened to see to see the two organisations come together. “ISCA and SMU are dedicated to fostering professional growth and excellence within the finance and accounting sector,” she said.
“As workforce and digital transformation gathers momentum and impacts professionals, this collaboration will further enhance skillsets, upgrading the knowledge base and raising a community to help one another through the sharing of best practices and solving new issues along the way.”
Mr Teo Ser Luck, ISCA President said: “We want to ensure that we can provide the environment for every student in accountancy or business in SMU to be nurtured, through to Singapore Chartered Accountant Qualification so that they are on the path towards a promising career.”
For more information, please contact:
Julian Sng
Head of Marketing and Communications
Tel: 9459 6088
Email: julian.sng@isca.org.sg
Amanda Lim
Assistant Manager, Communications
Tel: 9738 7299
Email: amanda.lim@isca.org.sg
About the Institute of Singapore Chartered Accountants (ISCA)
The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a world-class accountancy body of trusted professionals, contributing towards an innovative and sustainable economy. There are over 33,000 ISCA members making their stride in businesses across industries in Singapore and around the world.
Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.
ISCA is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.
ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.
For more information, visit www.isca.org.sg.