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CHAPTER 5: DEVELOPING THE TALENT PIPELINE
Driven by the need for expertise, higher standards of financial transparency and accountability, evolving regulations and tax laws, and the increasing complexity of the business landscape, the ever-present demand for accountancy professionals has risen even higher.
As the national accountancy body, ISCA is building a robust talent pipeline with diverse capabilities, expertise and knowledge to meet growing business demands and ensure businesses have the talent they need to succeed.
In 2022, to widen the talent pool, the Institute established a SCAQ Advisory Panel to develop recommendations on the SCAQ for MOF. Besides nurturing its young members, ISCA is also strengthening the talent pool for the accountancy profession by expanding its membership framework to include senior business leaders and youths.
ENHANCING THE SCAQ TO WIDEN THE CA TALENT POOL
The Singapore Chartered Accountant Qualification (SCAQ) provides a pathway for graduates from diverse academic backgrounds including non-accountancy degrees to become Chartered Accountants of Singapore.
In June 2022, ISCA established the SCAQ Advisory Panel and subgroups to provide recommendations to MOF to enhance, strengthen and update the SCAQ.
Comprising ISCA Council members, representatives nominated by MOF and professional accountants in business, practice and academia, the Panel and Subgroups aim to enhance the SCAQ in line with the changing business environment and help build a stronger accountancy sector and talent pipeline.
The recommendation paper from the panel was submitted to MOF in the first quarter of 2023.
KAYAK & CLEAN-UP AT JURONG LAKE
The ISCA Young Professionals Advisory Committee (YPAC) organised a sustainability-themed kayaking event to keep the lakes and rivers in Singapore clean.
Participants exchanged views on sustainability with Mr Tharman Shanmugaratnam, Senior Minister and Coordinating Minister for Social Policies, and Member of Parliament for Jurong GRC.
YOUNG ACCOUNTANTS MENTORSHIP PROGRAMME
The ISCA Young Accountants Mentorship Programme is designed for graduating accountancy students and fresh graduates who are seeking career guidance.
At the closing session in May, Ms Julie Yeap, Founder of Mastering Success, imparted tips on how to enhance one’s LinkedIn profile. The programme’s mentors and mentees also reflected on their mentoring journey during the session.
VISIT TO FAR EAST HOSPITALITY HOTELS
Twenty-five members enjoyed the warmth of Far East Hospitality at a tour of its hotel properties in December 2022.
Besides learning about the various hotel concepts, the participants got a peek into hotel operations and learnt more about the sustainability initiatives of Far East Hospitality’s parent company, Far East Orchard. The participants also learnt about finance and operations in the hospitality industry and the career possibilities for an accountant in the industry.
ONE YOUNG #CHARTEREDSTAR 2022 COMPETITION
The ISCA One Young #CharteredStar 2022 networking night was held in May 2022. Candidates went through group interviews and gave presentations on One Young World plenary themes to vie for their spot at the One Young World summit.
Ms Tan Cihui from Deloitte Singapore emerged from among the top five finalists as the winner, representing ISCA to join CAW’s delegation to the One Young World Summit in Manchester, United Kingdom in September 2022.
To nurture a strong talent pipeline, ISCA extended our student outreach activities beyond universities to include polytechnics, junior colleges, secondary schools and a primary school.
In 2022, ISCA organised a total of 57 outreach events, reaching out to more than 2,000 students across various academic levels.
MEMBERS #BRINGISCABACKTOSCHOOL
With the #bringISCAbacktoschool campaign, ISCA members returned to their alma mater to share with students on oncein- a-lifetime opportunities in their careers and the diverse roles of accountants today.
These outreach activities provided the youths with fresh perspectives on the accountancy profession. They learnt how accountants made a difference in sustainability, financial forensics, and data analytics. They also learnt that accountants play a pivotal role in helping businesses make key decisions and chart their future.
ISCA BROADENS STUDENT MEMBERSHIP
ISCA also broadened its student membership to include students across academic levels and from other degree programmes. As ISCA student members, they can discover how accountancy is a passport to diverse careers through career talks, skills workshops, internship opportunities and other activities curated for youths.