Our Sustainability Strategy

A) ENERGY CONSUMPTION AND CARBON EMISSIONS AT ISCA HOUSE

Our office at ISCA House features an open-office concept with flexible and reconfigurable layouts to maximise space usage. We have adopted hot desking with working facilities and multi-functional spaces that can be converted into breakout areas for small meetings. The air-conditioners are centrally set to 25˚C for energy efficiency and automatically shut off at 6pm. We use sustainable and environmentally friendly products, such as partition walls and tabletops with the Singapore Green Label, as well as vinyl flooring certified by the Singapore Green Building Council.

To obtain an estimate of our carbon emissions for 2024, we utilised the EMA Grid Emission Factor (GEF) of 0.412 CO2/kWh and multiplied this factor by our energy usage of 413,290 kWh. Our measurement data does not include CH4/N2O emissions. There are no Scope 1 emissions as ISCA does not have direct emissions from fuel combustion of any corporate vehicles and machinery. We report Scope 2 emissions as we have indirect emissions from the generation of purchased electricity at ISCA House. Scope 3 emissions that occur in our value chain, such as business travel, employee commute and waste disposal, were not monitored.

B) WATER USE

Our office is situated within a commercial real estate building where water consumption by tenants is not traceable. To promote water conservation, water-efficient fittings have been installed on new basin taps, and staff are encouraged to used water responsibly. While we currently lack precise tracking methods, we acknowledge the significance of implementing strategies to enhance our understanding and management of water usage going forward.

C) WASTE MANAGEMENT

We have been monitoring paper usage and have minimised the printing of course materials at ISCA Academy. Our paper purchases increased from 68 reams in 2023 to 80 reams in 2024, mainly due to the increase in activities. However, since we purchased only the lighter 70GSM paper, our total paper costs were lower. Currently, waste disposal is not tracked. We are committed to finding ways to further reduce paper consumption and waste.

ISCA is committed to cultivating a supportive and inclusive workplace culture where diversity is valued.

We prioritise continuous learning and strive to create a fair and equitable environment where individuals can contribute, realise their potential, and pursue their aspirations. We offer staff opportunities for growth and encourage them to take ownership of their training, aligning it with their career development plans.

The total number of full-time employees as at 31 December 2024 is 129 (2023: 101). The age and gender diversity of our full-time employees are set out below:

PEOPLE INITIATIVES

Aligned with ISCA’s Culture of Innovation & Excellence strategic pillar, we focused on fostering a highperformance, innovative, and sustainable organisational culture through the following key initiatives:

Fostering a Continuous Learning Culture

A year-long e-learning challenge was launched in January 2024 to promote a continuous learning culture. This initiative enabled staff to access training materials and professional development courses through ISCAccountify and LinkedIn Learning. The challenge increased engagement, excitement, and provided flexibility in learning.

ISCA also launched an onboarding e-learning module to enhance the onboarding experience for new employees. It provides new hires with essential knowledge, resources, and insights from day one, fostering early engagement and integration into ISCA’s organisational culture.

Fostering Employee Wellness and Well-Being

EMPLOYEE EXPERIENCE AWARDS 2024

In May 2024, ISCA was recognised in two categories at the Employee Experience Awards 2024, presented by Human Resources Online.

ISCA CARES BURSARY AWARDS

2024 marks the ninth year of the ISCA Cares Bursary Awards. Since its commencement, the charity’s Education Programme has awarded over $1.2 million in bursaries to more than 370 ISCA Cares Ambassadors, who are students from financially disadvantaged backgrounds.

In 2024, ISCA Cares extended its Bursary Awards beyond accountancy students from local universities and polytechnics to include ITE students pursuing accountancy as well as non-accountancy undergraduates from local universities and polytechnic graduates enrolled in the SCAQ Foundation Programme.

The bursary covers both the SCAQ Programme fees and a living allowance, ensuring that aspiring Chartered Accountants of Singapore have the resources to pursue their educational and professional aspirations.

The ISCA Cares Board of Directors conducted interviews with over 60 shortlisted applicants over three days, during which they discussed academic goals, career aspirations, and the students’ commitment to giving back to the community. Following the evaluation, ISCA Cares awarded more than $250,000 to 62 deserving students — the highest amount awarded since the Programme’s inception.

ISCA CARES CHARITY GOLF 2024

Held on 13 September 2024, the ISCA Cares Charity Golf 2024 raised over $400,000 for ISCA Cares beneficiaries, including matching funds from the Tote Board. The event was elevated by the participation of professionals from the Singapore Golf Association, whose novelty games added a competitive and engaging element. Concluding with a dinner, ISCA President Mr Teo Ser Luck and ISCA Cares Chairman Mr Max Loh expressed gratitude to the guests, donors, and sponsors for their support.

COMMUNITY ENRICHMENT INITIATIVES

ISCA and ISCA Cares aim to harness the collective knowledge, skills, and expertise in the accountancy network for community development

VOLUNTEERING WITH ISCA

ISCA and ISCA Cares promote volunteerism within the accountancy profession by connecting charities with ISCA members willing to contribute their time and expertise. A total of 251 ISCA members, ranging from students to retired experienced professionals, have signed up for our Volunteer Programme.

Financial Literacy Workshops

In partnership with SG Cares, the ISCA Cares team organised two financial literacy workshops for youths.

The ISCA Council is the governing body of the Institute and is responsible for the management and control of the affairs and funds of the Institute in accordance with the Constitution, and accountable to ISCA members.

• The Council represents the interests of the members and is accountable to them. Reflecting our diverse membership base, the Council comprises leaders from the corporate sector, the public accounting profession, the public sector and academia.
• The Council delegates certain powers to ISCA Committees and appoints the chairman and members of these Committees to perform various functions to assist Council in the discharge of its responsibilities based on the Committees’ terms of reference. The terms of reference of each Committee set out the purpose and responsibilities as well as the composition of the Committee. All these committees are accountable to the Council.
• The Council approves major policy decisions and oversees matters relating to the governance and membership of the Institute.

The Executive Committee (EXCO) comprises the office bearers and other Council members as appointed by the Council. The EXCO, which acts as the executive arm of the Council, exercises general oversight of the Institute’s initiatives, and operational and financial matters.

The Nominations Committee (NC) reviews and recommends to the Council the desired competencies required within the Council’s membership pertaining to gender, age, skill sets, experience and membership mix of the Institute. The NC assists the Council in identifying suitable candidates for appointment to the various ISCA Committees.

The call for nominations to ISCA Committees will be published on ISCA’s website each November. Nominations are received from members, and the chairpersons of the respective committees are consulted before these nominations are submitted to the NC. The NC will review the nominations and recommend the appointment or re-appointment of members to the ISCA Committees.

The Audit Committee (AC) is appointed by the Council to assist the Council in fulfilling its responsibilities of oversight in the Institute’s financial reporting. The AC’s roles include:

• Appointing external and internal auditors
• Reviewing internal controls and risk management policies
• Ensuring the integrity of financial statements
• Monitoring compliance with legal and regulatory requirements
• Evaluating the effectiveness of the audit process
• Overseeing the implementation of audit recommendations
• Assessing the adequacy of the Institute’s internal control systems
• Advising on financial and operational risks

The Strategy and Investment Committee (SIC) reviews and recommends the Institute’s strategic framework, plans and develops investment policies, and aligns investment strategy with long-term goals. It evaluates investment decisions, oversees strategic initiatives and investments, ensures effective and proper management of funds, selects and manages external fund managers, monitors investment performance and risks, and reports to the ISCA Council on these activities semi-annually or as needed.

The Membership Committee (MC) recommends membership applications and invitations to the Council, reviews and suggests changes to admission requirements, advises on membership retention and engagement strategies, and oversees policies and monitoring of Continuing Professional Education (CPE) requirements.

The Singapore Monitoring Committee (SMC) develops and maintains processes for assessing and submitting ASEAN Chartered Professional Accountants (ACPA) applications, certifies qualifications and experience, manages local and foreign professional accountant registers, ensures compliance with the ASEAN Mutual Recognition Arrangement on Accountancy Services (MRAA) and ISCA CPE requirements.

The Investigation and Disciplinary Committee Panel (ICDC) consists of an Investigation Committee, which investigates complaints against members or students, and a Disciplinary Committee, which adjudicates on these cases and determines appropriate penalties or disciplinary actions.

The Financial Forensic Accounting Oversight Committee (FFAOC) oversees the governance and operations of the ISCA FFA Qualification, approves policies and procedures, confers the ISCA Financial Forensic Professional (FFP) credential, reviews professional competency, and accredits academic and professional programs to maintain high standards based on the ISCA Professional Competency Framework for FFPs.

The Research Fund Evaluation Committee (RFEC) assists the ISCA Council with evaluating and approving research fund applications, reviews and approves the evaluation matrix, evaluates research proposals, makes recommendations, approves proposals for funding, and determines the funding amounts for approved projects.

1. Standard Setting & Advocacy Committees look into the local adoption of standards issued by the respective international bodies and issue guidance, as well as support compliance with those standards.
2. Specialised Industries Committees represent ISCA in sectors such as Banking and Finance, Corporate Finance, Corporate Governance, Insurance, Insolvency and Sustainability. The work plans of these committees include engagement with the government agencies.
3. Member Engagement Committees enable ISCA to engage key member segments through networking and other initiatives, as well as to facilitate dialogue sessions with respective government agencies for discussions on matters that impact them.
4. Special Projects Committees comprise CA Lab Content Advisory Committee, SCAQ Learning and Assessment Committees and Strengthening SMP Taskforce.

RELEVANCE AND VALUE

To deliver value to our members through quality initiatives and services, ISCA continuously monitors trends and developments affecting the profession. We refine our initiatives to remain relevant and prepare our members to meet the demands of a dynamic business environment.

ISCA taps into the extensive expertise of our Council and committee members to stay attuned to industry needs. These members share their views to help us understand the priorities of the business community and the accountancy profession, while serving as sounding boards for ISCA’s ideas and plans.

As the national accountancy body, ISCA contributes to the development of the accountancy profession and participates in the global accountancy ecosystem. We regularly engage with local and international stakeholders and counterparts in dialogues to keep pace with industry developments, maintain and deepen working relationships, and advance the accountancy profession in Singapore.

CYBER AND DATA SECURITY

In 2022, ISCA earned the ISO 27001 certification, the global standard for information security management systems covering more than a dozen standards in data protection and cyber resilience.

In addition, we conduct phishing email exercises to test staff’s awareness and readiness to detect and respond to phishing attacks. This keeps our staff vigilant and up to date on the latest tactics by cybercriminals. To complement these efforts, we also send regular emails on cybersecurity awareness to staff. These emails provide updates on the latest cybersecurity trends, as well as practical tips on how staff can protect themselves and the organisation against cyber threats.

ATTRACTING AND RETAINING TALENT

Aligned with ISCA’s strategic priority on Culture of Innovation & Excellence, we are focused on fostering a high-performance, innovative, and sustainable organisational culture through initiatives such as digital transformation, enhancing efficiency and fostering a continuous learning culture.

As part of a performance-driven culture, staff are given regular feedback on their performance and recognition for their achievements. We aim to be an Employer of Choice to attract and retain the right talent and be a great place to work for all ISCA staff.

MANAGING REPUTATIONAL RISKS

Our reputation is one of the Institute’s most valuable assets. The positive perception of ISCA in the minds of our members, regulators, and other stakeholders, and the trust and relationships we have built with them, is vital to ISCA’s success.

Managing this strategically starts with building an accurate picture of our strengths and weaknesses to quantify the impact of identified risks on our reputation. The Institute has an ongoing process to detect and manage issues that can affect our corporate identity and reputation.

We also manage, protect, and improve our reputation through sound corporate values as well as robust policies and processes to identify, assess, and respond to risks in a manner that is consistent with the Institute’s culture.