Our Globetrotting Journey

In 2023, we made huge strides in our internationalisation plan by establishing 12 overseas chapters across 9 countries. With this move, we’ve built stronger connections with our members and key stakeholders in these countries.

Building on this foundation, ISCA focused on deepening our existing relationships with overseas stakeholders in 2024, and of course, forming new ones! By facilitating global collaboration and collective action, we aim to create more opportunities for our members, not just in Singapore but all over the world.

 

At the start of 2024, we had already established 12 overseas chapters across 9 countries. With the help of our Overseas Chapter Chairs, we began making proactive efforts to cultivate thriving communities of ISCA members around the world, engaging and supporting them.

 

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In 2024, we solidified our overseas presence by setting up 4 physical offices, in China, Indonesia, Malaysia and Vietnam. These humble offices would eventually grow to become Professional Services Centres, bringing together not only the accounting community, but professional services bodies, trade associations and chambers, and businesses to foster economic growth. 

This would only be possible with our people at the helm. We hired 13 overseas-based staff, who help to make our internationalisation journey viable by opening doors for collaborations and promoting the ISCA and CA (Singapore) brand.

Our Chapter Chairpersons from around the world also converged at ISCA House for strategy formulation in August 2024. Besides taking stock of achievements in the first half of 2024, they also gave feedback on approaches to elevate the ISCA brand, engage members, and energise the professional community in key cities.

2024 was the year where we inked many agreements and partnerships with important overseas stakeholders, such as fellow accountancy organisations, professional bodies, educational institutes, and government agencies. Altogether, we signed nine MOUs across more than 10 areas of collaboration, in areas such as:

  • Fostering excellence in the accounting profession through training and development programmes to upskill accounting talent
  • Creating joint membership pathways
  • Contributing to thought leadership in current and relevant issues of interest
  • Forming stronger support for professional services firms through market access and business development
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As part of our efforts to create a global story, we collaborated with our partners to organise three seminars in Australia, China, and the Philippines. In doing so, we hope to position ISCA as a leading professional accountancy organisation, not only within the mindshare of the accounting profession, but also the wider business ecosystem.

In July 2024, we co-organised a seminar with SingCham Shanghai for business professionals. Themed “Impact-driven Governance: The Pivotal Role of the Board”, participants gained insights on trends in corporate governance in China, and the implications of corporate governance on companies’ financial and risk management.

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Closer to home, we collaborated with our Approved Learning Centre, Lope Laranjo Bato & Co. CPAs (LLB & Co. CPAs) to host a two-day workshop in Manila in June 2024, on International Standards on Quality Management. Led by our ISCA Philippines Chapter Chair Dr Jill Santos, practitioners learnt about how they could customise their firm’s quality management policies and procedures, as well as how to create an effective system of quality management.

Team ISCA participated in several key meetings and forums, which signify our continued commitment to being a key contributor to the global accounting fraternity.

In July 2024, ISCA CEO Ms Fann Kor represented ISCA at the Chartered Accountants Worldwide (CAW) meeting in London, where she shared the Institute’s key initiatives and the successes that we had achieved in our SCAQ programme. The event included a networking session which brought together Chartered Accountants from all over the world, including ISCA members based in the UK, to mingle and interact with each other.

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We also made a trip to Paris to attend the International Federation of Accountants (IFAC) meeting as well as meet with important stakeholders, comprising fellow professional accountancy bodies, standard setters, government bodies, and more. At these engagements, we shared with them about ISCA and our future plans.


As part of the new Sustainability Apex Programme (SAP), we led a joint business mission with the Law Society of Singapore to Shanghai and Nanjing in March, bringing together delegates from Singapore’s accounting, law, and testing, inspection and certification firms. Delegates learnt of the reporting requirements, carbon market and developments within the blooming sustainability sector in China and forged new connections with other Environmental, Social and Governance (ESG) professionals. Delegates also visited the Singapore Nanjing Eco High-Tech Island and explored how this platform can facilitate green innovation, cross-border collaboration and business opportunities in sustainable development.

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During our overseas trips, we also paid visits to several important stakeholders, to exchange insights on strategies and best practices in their respective fields to promote growth.

In Guangzhou in May, the team’s visits to the Guangdong University of Finance and Economics, Xiamen National Accounting Institute and Guangdong University of Foreign Studies yielded insights on accounting studies in China, while visits to SingCham Guangdong and Guangzhou Knowledge City gave the team an overview of the ecosystem to build as ISCA develops a more international outlook for the profession.

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During our visit to Beijing in July, we also engaged with representatives from China’s Ministry of Finance (MOF) and the China Securities Regulatory Commission (CSRC) and learnt of the Chinese government’s framework to uphold audit quality and corporate governance. 

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ISCA members also joined us in Beijing to celebrate Singapore’s 59th birthday at the SingCham National Day Dinner 2024. SingCham Chairman Mr Ong Tze Guan announced ISCA and SingCham’s partnership to offer a suite of programs such as our BOD Masterclass programme in China, to enable individuals from both countries to take up board positions.

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Despite our packed schedule of meetings and engagements during every overseas trip, we always make it a priority to find time to meet up with our overseas-based members, which are a valued group in our member community.

In 2024, we had over 20 member engagement events, where Team ISCA, as well as our Overseas Chapter Chairs, took time to interact with our members, and share with them the latest updates and happenings back home.

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SUPPORTING MEMBERS’ WORK ROUND THE WORLD

Another exciting initiative that we embarked on in 2024 was a partnership with co-working space company Regus. Under this collaboration, ISCA members can access professional office spaces across 195 countries as part of their membership benefits. 

Our expertise and knowledge across several domains were recognised by our counterparts which led to a range of key appointments, helmed by ISCA:

  • Treasurer of the ASEAN Federation of Accountants (AFA) – ISCA Council Member Mr Koh Wee Kwang
  • Chair of the Sustainability Reporting Taskforce of the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC) – ISCA CEO
    Ms Fann Kor
  • Deputy Chair of AFA Working Committee 1: Adoption and Implementation of International Standards – ISCA Director (Advocacy & Professional Standards)
    Mr Terence Lam
  • Member of AFA Working Committee 2: Thought Leadership – ISCA Lead (Research & Insights)
    Ms Kok E-Lin
  • Member of AFA Working Committee 3: Professional Accountancy Organisations Capacity Building – ISCA Divisional Director (Finance & PAIP Engagement)
    Ms Fua Qiu Lin

Apart from venturing overseas, we also welcomed many overseas stakeholders to Singapore. We hosted 32 overseas visits to Singapore, almost three times the number of visits in 2023! 

FORUM OF FIRMS MEETING AND IFAC ASIA PACIFIC SUSTAINABILITY EXCHANGE

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Over 100 overseas delegates gathered in Singapore for the Forum of Firms meeting and the IFAC Asia-Pacific Sustainability Exchange from 22 to 25 April 2024. ISCA CEO Ms Fann Kor kicked off the Forum of Firms meeting by sharing about Singapore’s accountancy landscape, evolving trends, and ISCA’s efforts to strengthen its global recognition and advance the profession. At the IFAC Asia-Pacific Sustainability Exchange, then-ISCA Vice President Mr Shariq Barmaky highlighted accountants’ role in sustainability and emphasised the need to build trust in sustainability information through assurance that is fit for purpose. In a panel discussion moderated by IFAC CEO Mr Lee White, ISCA’s then-Divisional Director of Professional Standards Mr Kang Wai Geat shared the capacity needs to manage sustainability reporting. 

WELCOMED PROFESSIONALS FROM AROUND THE WORLD

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