ISCA and KICPAA Sign Memorandum of Understanding to Advance the Development of the Accountancy Profession in Cambodia and Singapore

10 May 2023 – The Institute of Singapore Chartered Accountants (ISCA) and the Kampuchea Institute of CPAs and Auditors (KICPAA) signed a Memorandum of Understanding (MOU) today to advance the development of the accountancy profession in Cambodia and Singapore.

The MOU was signed by KICPAA President Mr Khun Darith and ISCA President, Mr Teo Ser Luck, in Singapore, as part of KICPAA’s study visit.

The MOU will see greater collaboration between KICPAA and ISCA, through joint initiatives such as membership pathways, training programmes, knowledge exchange, and nurturing of the accountancy talent pipeline through exchange opportunities for youths in Cambodia and Singapore.

According to the Asian Development Bank (ADB), ASEAN’s economy is expected to grow, with Cambodia’s GDP forecasted to increase by 5.5 and 6.0 per cent in 2023 and 2024 respectively. With growing business and economic activity, Cambodia will see increasing demand for professional accountants, providing an impetus for KICPAA to engage key stakeholders to advance the accountancy profession in Cambodia. The strengthened working relationship between ISCA and KICPAA will put both institutes in a better position to support the growth of the profession in the region.

ISCA President Mr Teo Ser Luck welcomed the delegates from Cambodia and expressed his appreciation for greater collaboration between the institutes, “We are pleased to share our knowledge and strengthen our cooperation with KICPAA through this MOU. The MOU establishes a launch pad that will enable us to enhance training programmes for members, promote knowledge exchange, and nurture the accountancy talent pipeline through a global programme. As we enhance our profession, we will also assist in developing the accountancy sector in Cambodia. This cross-border collaboration is a vital part of ISCA’s internationalisation plan, as we expand our network in ASEAN to create more opportunities for our members, the business community and the accountancy profession.”

Mr Khun Darith, KICPAA President, said, “We are confident that through strategic collaboration between ISCA and KICPAA, our accounting and auditing profession will become stronger, boosting our capabilities to strategically support our economies and ensure prosperity and growth for both countries.”

The signing of the MOU with KICPAA comes on the heels of another MOU signing with other fellow accountancy bodies and underscores ISCA’s position as a difference maker in the accountancy eco-system. In March 2023, ISCA signed a tripartite MOU with the Institute of Chartered Accountants in England and Wales (ICAEW) and the Chongqing Institute of Certified Public Accountants (CQICPA). This MOU establishes a multi-faceted cooperation platform to strengthen research and development, promote knowledge exchange, and increase training programmes, with the aim to facilitate the professional and business development of the finance and accounting industries in China and Singapore. 

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For more information, please contact:
Lin Daoyi
Manager, Communications
Tel: 9850 8979
Email: daoyi.lin@isca.org.sg

Julian Sng
Head, Marketing & Communications
Tel: 9459 6088
Email: julian.sng@isca.org.sg

About the Institute of Singapore Chartered Accountants

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.