Global Mindset, Asian Insights
MOVIE MARKETING
With so many high-profile movies fighting for the same audience, movie marketers need to figure out how to make their films stand out from the pack.
Film promotion is an important part of any release because of the inherent high financial risk. Film studios often invest in expensive marketing campaigns to maximize revenue early in the release cycle. From trailers and merchandising to viral and social media marketing, these efforts serve to maximise publicity for the movie and entice moviegoers.
Getting ISCA’s name heard far and wide is a similar endeavour. ISCA’s capability building programmes with accountancy bodies in other ASEAN countries further establishes the Institute as a leading accountancy body in the region.
Such efforts also serve to strengthen friendships and networks of cooperation among professional accountancy bodies in the region. ISCA members’ appointments to international panels help raise our global prominence and elevate the Institute’s brand internationally.
Having ISCA members speak at international conferences further heightens ISCA’s prominence at the global level. In turn, our members benefit from being part of a globally recognised body, which enhances their employability in an increasingly globalised business landscape.
In January, ISCA hosted Laos Deputy Minister of Finance Athsaphangthong Siphandone and a team of 20 Laos government officials for the second leadership workshop, under the Temasek Foundation International-ISCA Public Administration Programme in Accountancy. The programme aims to train more than 50 government officials from Laos from 2017 to 2019. Over five days, the delegates were presented with a sharing on Singapore’s taxation mechanism and the use of regulatory instruments in promoting audit quality. They also visited the Inland Revenue Authority of Singapore (IRAS) and interacted with ACRA officers. In September, ISCA and IRAS held a workshop for Lao tax officials to equip them with skills and knowledge that can be applied in their daily course of work.
The Institute also exchanged knowledge and experience with our Burmese counterparts at a two-day seminar on Audit Manual for Group Entities (AMGE), held for 81 accountancy professionals in Yangon, Myanmar. The session follow a successful run of the AMSE training held in December 2018. The seminar focused on key considerations involved in group audits and how accountants can effectively use AMGE to address some of the challenges, including identifying key components and significant risks, determining group and component materiality and communication between group auditor and component auditor. These programmes were well-received by participants.
ISCA hosted the 129th AFA Council Meeting in Singapore in November. The meeting brought together AFA Council Members to deliberate on issues related to the accountancy profession in ASEAN and discuss initiatives to raise the region’s accountancy professional standards and support the region’s booming economy.
In conjunction with the AFA council meeting, ISCA’s FRC co-organised the ISCA FRC-AFA Financial Reporting and Business Conference, which attracted about 180 delegates and business leaders from across ASEAN, and senior members of the Singapore accountancy profession.
At the conference, ISCA President Mr Kon Yin Tong handed over the rotating presidency of AFA to Mr Wan Tin, President, Myanmar Institute of Certified Public Accountants (MICPA), following a successful two-year term.
IFAC appointed ISCA Council member Prof Chan Yoke Kai to its new International Panel on Accountancy Education (IPAE), comprising 22 key executives and leaders from the global accountancy space, for a two-year term. The accountancy industry stalwart is among seven panel members from Asia Pacific and is the only ASEAN representative.
IPAE was established to develop international education standards and guidance, provide strategic advice on advancing accountancy education; facilitate access to expertise and resources, and advocate quality education for professional accountants. IPAE also gives ISCA more avenues to expand our network beyond Southeast Asia, which reinforces the Institute’s position as a leading professional accountancy body on the global stage.
Mr Shariq Barmaky, the Chair of the Audit and Assurance Standards Committee then, represented ISCA at the Ikatan Akuntan Indonesia/Institute of Indonesia Chartered Accountants (IAI) IAI-AFA-IAESB International Conference held in Bali, Indonesia in April 2019, where he spoke on professional scepticism. The event featured lively discussions about the evolution of the accountancy profession in the digital age.
In May 2019, ISCA Technical Deputy Director Ms Lim Ju May spoke about Singapore’s IFRS adoption journey at the Vietnam Association of Accountants and Auditors (VAA) conference, titled “Vietnam Accounting Profession: Future and Prospects”. Speaking opportunities like these build on ISCA’s existing efforts to develop a global reputation for providing insightful perspectives to the world.
ISCA Digital Badges and CAW Network Member Logo
ISCA launched digital badges and Chartered Accountants Worldwide (CAW) Network Member Logo in November as a way for members to raise the visibility of their credentials in an increasingly digital world. The digital badges are secure, web-enabled credentials containing verifiable information about members’ professional accomplishments that can be shared online and displayed on name cards.
Besides the ISCA Digital Badges, the CAW Network Member Logo shows that members who are Chartered Accountants are part of a global network of leading professional accountancy institutes, giving credence to our members and the Institute they belong to.
Youth Associates
The Institute opened its doors to accountancy undergraduates from local universities in March 2019 by offering the Youth Associate membership. As ISCA Youth Associates, students get to participate in ISCA events and learn more about the various career pathways by engaging with industry professionals. It is also a platform for the Institute to heighten awareness of the ISCA brand among accountancy students and build a pipeline of future accountancy professionals.
Why Accountancy? Video Contest
To encourage youths to select accountancy as a choice of study, ISCA organised the “Why Accountancy?” video contest. Accountancy graduates at local universities were invited to submit a 30-second video about why accountancy should be the choice of study. The winning entry was submitted by a team of students from National University of Singapore (NUS). The submitted video was adapted into a professionally produced commercial that was aired at Golden Village cinemas, on selected digital channels and during ISCA’s school outreach events.
Future-Ready Talent Campaign
In 2019, ISCA continued with its Future-Ready Talent campaign with videos and digital advertisements that showcased how ISCA members add value to businesses as well as the value of the ISCA membership. The campaign garnered over 22 million impressions and more than 870,000 interactions on digital channels.
Annual Report Award
The ISCA 2018/2019 Annual Report, “Future Fit”, garnered a Silver Award for design excellence at the 2019 ARC Awards. With motifs of fitness and sports, the theme centres on the idea of a triathlete preparing for competition.
The ARC Awards competition is organised by MerComm Inc, an independent awards organisation with a focus on defining excellence in the Communications field.
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