The Institute of Singapore Chartered Accountants Launches Inaugural Singapore Accountancy Awards to Celebrate Excellence in Accountancy

Singapore, 10 December, 2013 – The Institute of Singapore Chartered Accountants (ISCA), the national accountancy body, today announces the launch of the inaugural Singapore Accountancy Awards (SAA). Supported by the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Accountancy Commission (SAC), the SAA is the first of its kind within the local accountancy sector and is intended as a platform to recognise business and individual excellence, promote good practices, and strengthen branding of the profession and industry. 

Themed “Celebrating Excellence in Accountancy”, the SAA comprises two main categories, the “Business Excellence Awards” and the “Individual Excellence Awards”.

Category 1 - Business Excellence Awards

The Business Excellence Awards seek to honour accounting firms that stand out for their dedication to building a distinguished practice and is a leader in pursuing technical excellence, people development, and productivity & innovation. Such attributes are important to sustain and grow their practices in an increasingly competitive market place. 

There are four Business Excellence Awards under this category,

- Practice of the Year;

- Technical Excellence;

- Excellence in People Development; and

- Excellence in Productivity & Innovation

To take into consideration the availability of talent and resources as well as the different challenges faced by practices of different sizes, each of the aforementioned awards will have two sub-categories. They are (i) Large Practice [for practices with more than 100 staff], and (ii) Small & Medium Practice (SMP) [for practices with 100 staff or less].

Category 2 - Individual Excellence Awards

The Individual Excellence Awards aim to commend individuals who embody strong professional qualities, possess sound technical knowledge and experience, and actively contribute to the development of the practice, industry and community.

There are two Individual Excellence Awards under this category,

- Accountant of the Year; and

- Young Accountant of the Year

To take into account different levels of responsibilities and areas of work, each of the above awards will also encompass two sub-categories. They are (i) Public Practice [for accountants working in public accounting firms], and (ii) Professional Accountants in Business (PAIBs) [for accountants working in businesses].

Nomination Process

Both categories of awards are open for nomination from now to 18 April 2014 at www.sgaccountancyawards.com.

The Business Excellence Awards are open to all organisations registered in Singapore and nominators can nominate other organisations or their own firms for one or more of the awards. Additionally, nominees for the Practice of the Year award will automatically qualify for the Technical Excellence, Excellence in People Development, and Excellence in Productivity & Innovation awards.

The Individual Excellence Awards are open to any individual in the accounting profession that is employed in an organisation registered in Singapore. Nominators can elect individuals from other organisations, their colleagues or themselves for one of the awards.

Judging Process

There will be three rounds of judging. Nominees will undergo a preliminary assessment conducted by the Awards Judging Working Committee. Shortlisted candidates will go through an on-site interview process in the second round where the Awards Judging Working Committee will meet with them. These candidates will then be scored against a pre-set scoring matrix for selection into the final round of judging.

In the final round, a distinguished panel of judges, comprising industry leaders and business luminaries, will evaluate the finalists to determine who best exemplifies the qualities and spirit of the awards. Winners will be announced at a ceremony held in August 2014.

Mr Lee Fook Chiew, ISCA Chief Executive Officer, says, “The Singapore Accountancy Awards was established as a way to recognise outstanding organisations and individuals who reflect qualities that are important to our profession. This includes having sound technical knowledge while still furthering their development, never resting on their laurels and constantly innovating for greater productivity and nurturing the next generation of leaders. Award winners will stand to benefit from enhanced marketability and recognition as well.

This is part of ISCA’s efforts to recognise business and individual excellence, promote good practices, and build up a solid brand for the profession and industry. As we continue to strengthen Singapore’s position as a hub for accountancy, these awards will spur practices to excel in their respective arenas while contributing to overall growth for the accountancy sector.”

-Ends-

For media enquiries, contact:

Betsy Tan, Communications Manager

Tel: 6597 5608 / 9641 6920 Email: betsy.tan@isca.org.sg

Low Xiaojing, Communications Executive

Tel: 6597 5609/ 9171 8852 Email: xiaojing.low@isca.org.sg

Note to Editors:

About the Institute of Singapore Chartered Accountants

Formerly the Institute of Certified Public Accountants of Singapore, the Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community.

Established in 1963, ISCA shapes the regional accountancy landscape through advocating the interests of the profession. Possessing a Global Mindset, with Asian Insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards Singapore’s transformation into a global accountancy hub. Our stakeholders include government and industry bodies, employers, educators, and the public.

ISCA is the Administrator of the Singapore Qualification Programme (Singapore QP) and the Designated Entity to confer the Chartered Accountant of Singapore - CA (Singapore) - designation.

It aims to raise the international profile of the Singapore QP, a post-university professional accountancy qualification programme and promote it as the educational pathway of choice for professional accountants seeking to achieve the CA (Singapore) designation, a prestigious title that is expected attain global recognition and portability.

There are currently over 27,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

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