Institute of Certified Public Accountants of Singapore (ICPAS) has joined 17 other accounting institutes from around the world as a charter member of the prestigious International Innovation Network (IIN). ICPAS’s application for membership was endorsed by three prominent accountancy bodies and subsequently approved by the members at its Extraordinary General Meeting held in Dublin on 20 July 2009. This strongly signals recognition of ICPAS stature from a network of major accountancy bodies worldwide.
"This is a major milestone in ICPAS’s history. It gives us an international footprint from which we can expand our networks,” says Dr Ernest Kan, ICPAS President. “It is in line with our strategy to work towards an accounting qualification of higher stature that has global recognition and greater portability,” he added.
The International Innovation Network (IIN), formed in 2002, is an organisation of accountancy bodies from major economic jurisdictions. Its current membership comprises 18 national accountancy bodies (inclusive of Singapore) of chartered status or equivalent, from countries in Europe, Asia Pacific and the Americas. Members of the Global Accounting Alliance (GAA) are also the founding members of IIN.
IIN’s members operating in different professional environments in major capital markets bring with them diverse knowledge and ideas that would be useful to accountants who are operating in this complex business environment. The Network mission is to provide an international platform for collaboration through sharing of ideas, knowledge and experience for the benefit of accountancy bodies and their members. (For more information on the IIN, see Appendix below.)
“ICPAS subscribes to the International Innovation Network idea of coming together to share ideas, products and services and continually innovate to meet the needs of professional accountants. This is not just an umbrella body but a model for co-operation and collaboration. Recognising that today’s accountants are operating in a global and borderless market, there is a need for a common platform for accountancy bodies to work together ", comments Dr Kan. “That is why ICPAS joined the Network given that it is highly beneficial to our members and CPAs Singaporesince we can use the ability to increase our service offering to our members,” he added.
As part of IIN, ICPAS will be an active participant in the key international initiatives of the Network and will seek out opportunities to learn and adopt innovative practices from other institutes operating in similar capital markets.
(Note to members: This Network is a platform for accountancy bodies to work together and is not a mutual recognition of each body's membership.)
ABOUT THE INTERNATIONAL INNOVATION NETWORK
IIN members are grouped into 3 regions and its exclusive membership as of July 2009 comprises:
Canadian Institute of Chartered Accountants
American Institute of Certified Public Accountants
England & Wales
Institute of Chartered Accountants in England & Wales
Conseil Superior de l’Ordre des Experts Comptables
Institut der Wirtschaftsprufer in Deutschland e.V.
Consiglio Nazionale dei Dottori Commercialisti
Institute of Chartered Accountants of Ireland
Koninklijk Nederlands Instituut van Registeraccountants
Institute of Chartered Accountants of Scotland
Instituto de Censores Jurados de Cuentas de Espana
Institute of Chartered Accountants in Australia
Hong Kong SAR
Hong Kong Institute of Certified Public Accountants
Institute of Chartered Accountants of India
Japanese Institute of Certified Public Accountants
New Zealand Institute of Chartered Accountants
Institute of Chartered Accountants of Pakistan
Institute of Certified Public Accountants of Singapore
South Africa Institute of Chartered Accountants
With the mission to provide an international forum for collaboration to share ideas, knowledge and experience for the benefit of institutes and their members, IIN seeks to:
Deliver member value through continuation of IIN’s core activities of knowledge exchange, effective networking, products and services and undertaking additional projects with broad member interest
Further develop ideas, knowledge and collaboration through membership growth through targeting, engaging and retaining relevant and committed members; and
Maintain operational excellence including responsive to changes affecting the profession, the relevant use of technologies, effective communications and governance.