CREATING PATHWAYS TO ENHANCE MEMBERS' CAREER MOBILITY
The Committee to Develop the Accountancy Sector (CDAS) recommendations released in 2010 were aimed at transforming and uplifting the entire Singapore accountancy sector. This requires the development of specialisation pathways in areas such as internal audit, business valuation and international taxation to create vibrancy in the sector. To achieve this vibrancy, ISCA is creating more pathways to boost members’ career trajectory and international mobility in an increasingly globalised and competitive world.
In January 2014, ISCA signed a Memorandum of Understanding with the Institute of Chartered Accountants in England and Wales (ICAEW) to establish the ICAEW-ISCA Pathways to Membership Scheme. The scheme enables eligible ISCA members to become an ICAEW Chartered Accountant. ISCA is the only Institute whose members do not have to qualify for the scheme via professional examinations, attesting to the high regard for ISCA’s members.
ISCA partnered the Singapore Accountancy Commission (SAC) to explore reciprocal memberships with other global accountancy bodies. These included Expressions of Intent with the Chartered Accountants Australia and New Zealand, the Institute of Chartered Accountants of Scotland, and the Chartered Accountants Ireland.
ISCA and the Chartered Institute of Management Accountants (CIMA) inked a Memorandum of Agreement to establish the ISCA-CIMA Pathway for Singapore accounting professionals. The ISCA-CIMA Pathway scheme is a fast track for ISCA members to become CIMA members and be conferred the Chartered Global Management Accountant (CGMA) designation. The globally recognised CGMA designation is a prestigious title jointly awarded by CIMA and the American Institute of Certified Public Accountants.
The Singapore Qualification Programme (Singapore QP), is one of the possible pathways to the profession. With Asia set to experience a golden era of prosperity for the next 10 years, the demand for accountancy services will grow. The Singapore QP provides a pathway for those aspiring to be in the accountancy profession to realise their ambition to be a Chartered Accountant of Singapore. The successful completion of the Singapore QP will lead to the conferment of the Chartered Accountant of Singapore designation, that is globally recognised and internationally portable. ISCA has been working with SAC to raise the profile of the Singapore QP as the educational pathway of choice for professional accountants.
ISCA also works closely with SAC to support the Accredited Training Organisations (ATOs) and candidates in their Singapore QP journey. More than 200 employers have since joined the Singapore QP as ATOs to train candidates and provide them with practical experience.
By leveraging our international partnership networks of accountancy bodies, we will continue to help in promoting and establishing the global recognition and reputation of the CA (Singapore) designation. With this designation, members are given a competitive edge in the industry, enhancing their career mobility worldwide.