Budget 2026 underscores national role of accountancy profession

Budget 2026 underscores national role of accountancy profession; ISCA sets aside $3m to roll out AI, career and sustainability support for accountants and enterprises

Singapore, 16 February 2026 – The Institute of Singapore Chartered Accountants (ISCA) welcomes the measures announced in Singapore’s Budget 2026, which support enterprise competitiveness, workforce capability, artificial intelligence adoption and internationalisation. ISCA views the Budget as a clear call for the profession to play a stronger role in helping businesses stay resilient, well governed and positioned for long term growth.

Recent ground engagements conducted jointly by ISCA and ASME show that these pressures are keenly felt by their members. 98% of respondents expect their industries to be disrupted by global political and trade developments, while 57% identified job displacement as their top AI related concern. Against this backdrop, ISCA views Budget 2026 as a pragmatic step that strengthens Singapore’s longer-term foundations while providing targeted support for enterprises and workers.

Supporting an AI-ready accountancy profession

ISCA notes the expanded national emphasis on AI capability building, including efforts to accelerate role-based AI skills across the workforce. The accountancy profession is among the first non-tech sectors to build practical AI capabilities under the expanded TechSkills Accelerator, reflecting the growing importance of role-based AI skills in professional work.

To support this shift, ISCA is partnering the Infocomm Media Development Authority (IMDA) to develop an AI Fluency Programme for accountancy professionals. ISCA has set aside $1 million for the programme from its AI for AI initiative fund. The programme will help practitioners understand how AI can be applied in real workflows, its limitations and how to use it responsibly in areas such as audit, reporting and core financial processes. It will be offered free to Singaporean as well as PR professional accountants working in Singapore and is expected to benefit the 120,000-strong accountancy sector.

Mr Song Yeow Chung, Co-Chair of ISCA's AI for Accountancy Industry Taskforce, shared: “Many professionals are excited about AI, but also unsure how to apply it meaningfully in their work. Budget 2026 helps to address that by focusing on practical skills. For accountants, AI isn't about replacing judgement. It's about freeing up time from routine tasks so we can focus on deeper analysis, better advice and value for our stakeholders.”

Helping firms transform and internationalise together

The new measures include support for businesses seeking to expand overseas and manage cost pressures, including corporate tax rebates and enhanced internationalisation support schemes. These moves are timely as companies navigate a more complex global operating environment. ISCA believes accountants have an important role in helping firms make sound investment decisions, manage risks and comply with evolving standards as they venture abroad.

To complement Government schemes, ISCA and partner organisations have set up the Professional Services Centres in 2025. The Centres provide a platform for professional services firms to collaborate, share market insights and explore overseas opportunities together, rather than stepping out alone. This supports the Budget’s emphasis on helping Singapore enterprises strengthen competitiveness and participate in new regional growth nodes.

Backing accountants through career transitions
Budget 2026 introduces enhanced support for mid-career workers and seniors, including improvements to the SkillsFuture Level-Up Programme. These measures come as many finance professionals are already experiencing shifts in job scope driven by AI, sustainability requirements and digitalisation.

ISCA’s engagements with employers and members indicate that many finance professionals are already navigating changes in job scope due to AI, sustainability and digitalisation.

To support members through these shifts, ISCA launched the Career Support Programme in 2025, with a $2 million dollar commitment. The programme offers career coaching, job matching and skills support for ISCA members who are exploring new roles or transitions. This complements national schemes such as the SkillsFuture Level Up Programme by giving accountants a profession specific support pathway.

Enabling a practical and inclusive green transition

Budget 2026 reinforces Singapore’s push towards a more sustainable economy, including through the extension of the Energy Efficiency Grant and continued support for green loans under the Enterprise Financing Scheme. These measures will help firms invest in energy-efficient and sustainable solutions. Many businesses, especially smaller firms, find sustainability reporting complex and resource intensive. Accountants are often the first advisors asked to interpret new requirements and help plan the transition. In 2026, ISCA will work on implementation guidances and reference materials to help SGX listed companies navigate revised climate reporting timelines and efforts to explore simpler baseline approaches for smaller firms.

ISCA President Mr Teo Ser Luck said: “Budget 2026 reflects the realities businesses and professionals face today. The strong push on AI, workforce upgrading, enterprise competitiveness and internationalisation will help companies stay resilient. AI will enhance the role of accountants. By automating routine work, accountants can play a more strategic and integral role in guiding decisions and shaping business outcomes. As the national accountancy body, ISCA will continue working with Government and industry to turn these measures into practical initiatives that strengthen the profession and support the businesses.”

Making sense of Budget changes for the profession and businesses

To help practitioners and businesses understand the implications of the announced measures, ISCA will hold its Budget and Tax Conference 2026 on 18 March. The conference will provide expert insights into key tax changes and their impact on companies and individuals.

More details are available at: https://bit.ly/BudgetandTaxConference2026