ISCA Partners with ICAEW to Offer Local Accountants Pathway to Globally Recognised Associate Chartered Accountant Designation

Singapore, January 16, 2014– The national accountancy body, the Institute of Singapore Chartered Accountants (ISCA), has signed a Memorandum of Understanding (MOU) with ICAEW (Institute of Chartered Accountants in England and Wales) to establish the ICAEW-ISCA Pathways to Membership scheme.  

The MOU was sealed today by Dr Ernest Kan, ISCA President and Mr Arthur Bailey, Deputy President, ICAEW, at the opening of the ISCA House officiated by Mrs Josephine Teo, Senior Minister of State for Finance and Transport.

The ICAEW-ISCA Pathways to Membership scheme will run for two years between January 2014 and December 2015 and enables ISCA members who meet the entry requirements to become an ICAEW Chartered Accountant. To be eligible for the scheme, the accounting professional must be a full ISCA member of at least five years, be of good standing and possess relevant post-qualification experience in an accounting and/or business environment. 

With this scheme, accounting professionals in Singapore would be able to attain ICAEW’s highly-respected Associate Chartered Accountant (ACA) designation, which is recognised globally.  In the current environment, where business operations are increasingly globalised, having a globally recognised accountancy qualification is a boost to one’s career. It would also provide access to thought leadership, technical updates and a range of career development programmes.

Under the ICAEW-ISCA Pathways to Membership scheme, eligible ISCA members will need to pass an Examination of Experience to meet the ICAEW’s admission requirements. The Examination of Experience requires applicants to demonstrate their professional competence, skills and expertise by submitting an application addressing a series of questions equivalent in standard to the ACA’s final examination, the Case Study. The Examination of Experience is assessed and marked by ICAEW’s examiners. 

ISCA President Dr Ernest Kan said: “The scheme with ICAEW is in line with ISCA’s vision to be a globally recognised professional accountancy body, adding value to our members, the profession and wider community. The prestigious Associate Chartered Accountant designation is globally recognised. Members who have both an ISCA and an ICAEW membership would have a strong competitive edge and greater career mobility worldwide.” 

“We are honoured to partner ICAEW to offer this scheme to our members. The scheme signals strong endorsement from ICAEW, a leading global accountancy body and a world leader in the accountancy and finance profession. It also attests to ISCA’s stature in the global accountancy arena, as well as the fact that our local accountants are held in high regard,” added Dr Kan.

Arthur Bailey, ICAEW Deputy President, commented: “The Pathways agreement between ICAEW and ISCA is a natural progression of the long-standing collaboration ICAEW has had with the Singapore accountancy profession. It not only provides eligible ISCA members with a great opportunity to obtain membership of ICAEW and the right to use the highly regarded ACA designation, but also gives them access to a wealth of resources, including thought leadership, updates on the latest standards and a vast library. This will help them continue their development and stay at the top of the profession.”

Workshops will be conducted for eligible accountants regarding the Examination of Experience application process. For more information, go to

www.icaew.com/iscapathways

JOINTLY ISSUED BY INSTITUTE OF SINGAPORE CHARTERED ACCOUNTANTS AND ICAEW

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 to attain global recognition and portability.

There are currently about 28,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

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

About ICAEW

1. ICAEW is a professional membership organisation, supporting over 140,000 chartered accountants around the world. Through our technical knowledge, skills and expertise, we provide insight and leadership to the global accountancy and finance profession.

Our members provide financial knowledge and guidance based on the highest professional, technical and ethical standards. We develop and support individuals, organisations and communities to help them achieve long-term, sustainable economic value.

Because of us, people can do business with confidence.

2. ICAEW is a founder member of the Global Accounting Alliance, which represents around 775,000 of the world's leading professional accountants in over 165 countries around the globe, to promote quality services, share information and collaborate on important international issues.

3. ICAEW is a founding member of Chartered Accountants Worldwide, an initiative by the leading chartered institutes to support, develop and promote the vital role that chartered accountants play throughout the global economy. It creates a community of hundreds of thousands of chartered accountants and students who share a commitment to the highest standards of professional and ethical practice.

For more information, please contact:

Institute of Singapore Chartered Accountants

Betsy Tan, Communications Manager

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

 ICAEW

Joyce Peh, Associate Consultant, Ketchum ICON

Tel: 6220 2623 / 9177 8815 Email: icaew@ketchum.com.sg