Be it comedy, musical, action, horror, documentary or romance, genres are a simple way to categorise films, guide the industry on the type of movies to make, and give the audience a general notion of what to expect from the movie.
But genres also change over time, as filmmakers invent new twists on old formulas, and blur the boundaries between established conventions. Similarly, ISCA responds to changing business trends to identify the skills and knowledge our members need to be future-ready. ISCA’s specialisation pathways and continuing professional development initiatives enable members to build their capabilities in emerging fields and fulfil their career aspirations.
Asia’s infrastructure sector is set to boom over the next decade. To equip accountancy professionals with specialised, in-demand skills in this field, ISCA launched the ISCA IPFQ. The ISCA IPFQ is supported by Infrastructure Asia and developed in collaboration with EY Singapore. The content of the qualification is designed to be comprehensive and covers key topics tailored to the sector’s needs, including project development and procurement processes, project finance, financial modelling, risk management and contract considerations, with a focus on ASEAN case studies. Workshops for the first batch of ISCA IPFQ candidates, conducted by infrastructure advisory professionals from EY Singapore, began in October 2019
Candidates who complete all modules and have at least three years of recent work experience in infrastructure project finance-related fields will be conferred the ISCA IPFP credential. Infrastructure and project finance professionals wwith the requisite experience who are ISCA Associates can qualify for a one-off grandfathering scheme until 31 December 2020 to attain the credential, which is the first in Asia to be conferred by a professional body.
White-collar crimes are increasingly sophisticated and transnational. The advancement of technologies has added to the complexities of each financial crime. The ISCA FFA Qualification pathway, launched in 2018, was the first applied learning financial forensic qualification developed by a professional body in the region. It aims to develop capabilities in the financial forensic field and hone the skills of those already in this specialised field in the public and private sectors.
The ISCA Financial Forensic Professional (FFP) credential is conferred on individuals who demonstrate expertise in the financial forensic space. The ISCA FFA Qualification programme has experienced steady growth since its introduction and the ISCA FFP credential saw a surge in applications under the one-off grandfathering scheme, which ended on 31 August 2019. To date, the ISCA FFA Qualification has admitted close to 200 candidates cumulatively and produced over 50 graduates, while the ISCA FFP credential has been conferred to 50 ISCA members.
In addition, ISCA worked closely with SSG, SAC and WSG on the refreshed Skills Framework for Accountancy in 2019, which includes creating a new career track for financial forensics.
Since 2017, 626 ISCA members have been conferred the ASEAN Chartered Professional Accountant (ASEAN CPA) title, which enables accountants from ASEAN countries to provide non-regulated accountancy services across the region without having to go through extensive re-training and re-qualification. This title facilitates mobility of accountancy professionals in ASEAN and promotes trade in services within the region.
The Institute launched the ISCA PBA programme in October.
The programme is tailored for members to enhance their competencies and be equipped with the relevant skill sets for Industry 4.0. Candidates who complete the ISCA PBA programme will be awarded the Professional Certificate in Business Accounting and qualify for the enhanced Associate Membership pathway. ISCA Associate Members who have successfully completed the programme will be conferred the ISCA PBA designation, subject to fulfilling eligibility requirements.
Data analytics skills continue to be important to professional accountants as the accountancy landscape transforms. Business analytics presents a range of opportunities for accountants to gather useful insights from data. The ISCA-SUSS Business Analytics Certification Programme, offered in partnership with SUSS, has seen three intakes of candidates, totalling 240. Since its launch in 2018, it has awarded 90 individuals with the ISCA-SUSS Certificate in Business Analytics.
Accountancy Future Leaders
Together with the SAC, ISCA rolled out the first run of the Accountancy Future Leaders programme in October 2019. The sixth-month programme offers leaders and future leaders in accounting firms, in particular the SMPs, a structured professional development pathway. The programme focusses on practice leadership and delves into business advisory services, people strategy, and technology strategy. It also aims to improve the competitiveness of SMPs by providing assistance to enhance the quality and breadth of services provided by SMPs.