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ISCA signs MOU at Singapore-Jiangsu Cooperation Council to nurture accountancy talent and support accountancy professional and firms in China

9 October 2023 – The Institute of Singapore Chartered Accountants (ISCA), Administrative Committee of Jiangsu Nanjing Eco Hi-tech Island Economic Development Zone (Administrative Committee) and Sino-Singapore Nanjing Eco Hi-tech Island Development Co. Ltd. (SNECO) signed a Memorandum of Understanding (MOU) today with the intention to support the accountancy profession and business development of accountancy entities in China and Singapore.

The parties will collaborate to support the professional services firms in Singapore and China through business missions and knowledge exchange. They also aim to facilitate student exchanges to nurture young talent.

Student exchange and immersion
This partnership will bring the parties together to explore working with local higher education institutions to provide exchange opportunities and immersion programmes for undergraduates to enrich their learning experiences through cross-cultural interactions and exposure to different business practices and service offerings.

Assisting Small and Medium Practices (SMPs) in their internationalisation plans is one of the ISCA’s key objectives. ISCA has plans to set up overseas chapters in China in the near future as China is one of the SMPs’ key focus markets.

The parties of the MOU will collaborate in the establishment of ISCA’s China Chapter to assist ISCA’s members in fostering collaborations and conducting their businesses in cities within the Jiangsu Province.

The parties will also collaborate to promote business leads exchange through:
a. Providing support to one another on annual business development trips to the home jurisdictions of each party.
b. Facilitating market access and promoting collaborative cross-border business opportunities between Singapore and Jiangsu.

Mr Zhou Cheng, Executive Director of the Administrative Committee of Jiangsu Nanjing Eco Hi-tech Island Economic Development Zone, Mr Lu Hong, Vice-Director of the Sino-Singapore Nanjing Eco Hi-tech Island Development Co. Ltd., and ISCA’s Vice-President, Ms Yiong Yim Ming signed the MOU at the Singapore-Jiangsu Cooperation Council (SJCC), witnessed by Minister Indranee Rajah, Jiangsu Party Secretary Xin Changxing, Senior Minister of State Koh Poh Koon, and Jiangsu Vice Governor, Fang Wei.

Sharing her thoughts on the signing of this MOU, Ms Yiong Yim Ming, Vice President of ISCA, said: “Singapore’s professional services firms are well-placed to support businesses in China, with their expertise and experience across key business functions such as accounting, auditing and business advisory, sustainability reporting and consultancy. With this tripartite cooperation, we look forward to facilitating more collaborations and opportunities for aspiring accountancy professionals, and between businesses in China and Singapore, especially in the Jiangsu province.”

Mr Lu Hong, Vice-Director of the Administrative Committee of Jiangsu Nanjing Eco Hi-tech Island Economic Development Zone said: “Our partnership with ISCA will introduce a diverse range of cultural elements to the Island. We are dedicated to fostering collaborations between ISCA and local universities and institutions, while delivering top-tier support for the island's industrial advancement.”

Mr Zhou Cheng, Executive Director of the Sino-Singapore Nanjing Eco Hi-tech Island Development Co. Ltd said: “We are dedicated to developing the island to meet high-quality standards and transforming it into one of China's leading business parks to attract global investors. Through our partnership with ISCA, we seek to incorporate more international resources into the island, providing investors with expert guidance and services."

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For more information, please contact:
Julian Sng
Head of Marketing and Communications
Tel: 9459 6088
Email: julian.sng@isca.org.sg

Amanda Lim
Assistant Manager, Communications
Tel: 9738 7299
Email: amanda.lim@isca.org.sg

About the Institute of Singapore Chartered Accountants (ISCA)
The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a world-class accountancy body of trusted professionals, contributing towards an innovative and sustainable economy. There are over 33,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.