Accountants Move Beyond the Numbers to Help Singaporeans Navigate Life's Financial Decisions

Singapore, 3 July 2026 – The Institute of Singapore Chartered Accountants (ISCA) launched Life & Money Matters, a nationwide community initiative that aims to help Singaporeans make informed financial decisions with confidence throughout every stage of life.

The initiative will be administered by ISCA Cares, ISCA's charitable arm, which has spent more than a decade supporting the community through bursaries, mentorship and outreach programmes. Building on this strong foundation, Life & Money Matters expands ISCA Cares' community impact by mobilising the knowledge and expertise of the accountancy profession to help Singaporeans build practical financial capability and long-term resilience. This reflects ISCA Cares' strategic shift from "giving" to "enabling", expanding its community impact through the knowledge and expertise of the accountancy profession.

Every major life decision carries a financial dimension, whether it is pursuing further education, entering the workforce, starting a family, purchasing a home, caring for ageing parents or planning for retirement. As financial decisions become increasingly complex, Life & Money Matters seeks to equip Singaporeans with practical knowledge and decision-making skills to navigate these milestones with greater confidence.

The initiative will bring together ISCA members and accounting and finance professionals to volunteer their expertise in communities across Singapore. Through a combination of digital learning resources and community workshops, participants will gain practical guidance on everyday financial topics such as budgeting, managing financial trade-offs, planning ahead, recognising financial scams and building long term financial resilience.

Unlike traditional financial literacy programmes, Life & Money Matters focuses on helping individuals make better financial decisions throughout their life, rather than by promoting financial products or investment strategies. The programme is designed to be practical, impartial and accessible, supporting Singaporeans from different age groups and backgrounds, including students, young adults, families, seniors and vulnerable households.

Mr Lee Boon Teck, President of ISCA, said: "Every life decision has a financial dimension. As trusted finance professionals, accountants have a responsibility not only to support businesses but also to contribute to society. Through Life & Money Matters, we hope to empower Singaporeans with the confidence to make better financial decisions while giving our members a meaningful platform to use their expertise in service of the community. By strengthening financial capability, we can also strengthen households and build more resilient communities."

Life & Money Matters will be rolled out progressively in the second half of 2026 through partnerships with community organisations, schools, grassroots organisations and other stakeholders.

ISCA recognises distinguished contributions to the profession

At the ISCA Annual Dinner, ISCA also recognised distinguished individuals whose leadership and contributions have made a lasting impact on Singapore's accountancy profession, business community and public service.

ISCA Honorary Membership, was conferred on Mrs Tan Ching Yee in recognition of her outstanding contributions to Singapore's accountancy profession, public administration, corporate regulatory ecosystem and national development.

Mrs Tan said: “I am deeply honoured to receive the ISCA Honorary Membership. I am grateful for the recognition. I share this honour with the many colleagues and partners I have had the privilege to work with over the years in support of Singapore’s accountancy profession and broader public interest. I hope to continue contributing to the profession’s development.”

The ISCA Distinguished Lifetime Membership was conferred on Mr Phillip Tan in recognition of his longstanding contributions to the accountancy profession, business community and public service.

Mr Tan said: “I am honoured to receive the Distinguished Lifetime Membership from ISCA. I am humbled by this recognition and I am grateful for the opportunity to have contributed to the profession along with my fellow colleagues and partners over the years. I recognise and commend ISCA’s work in ensuring that professional judgement, ethics and trust remain at the core of professional accountants in Singapore and I hope to continue sharing my expertise with the profession for many more years to come.”

ISCA also presented the Special Appreciation Award to the ISCA Strengthening Small and Medium Practices Taskforce for its leadership in developing a strategic roadmap to strengthen Singapore's small and medium sized accounting practices through extensive stakeholder engagement and industry collaboration.

For details about the ISCA Honorary Membership, ISCA Distinguished Lifetime Member and Special Appreciation Award recipients, please refer to the Annex.

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For more information, please contact:
Chee Mun Yi
Communications Executive
Tel: 8688 8762
Email: munyi.chee@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. Established in 1963, ISCA administers the Singapore Chartered Accountant Qualification programme and is the designated entity by the Singapore Ministry of Finance to confer the Chartered Accountant of Singapore [CA (Singapore)] designation.

ISCA supports over 45,000 members across industries in Singapore and globally, with members in more than 40 countries. With a growing international presence, ISCA has 12 overseas chapters, 7 offices across 10 countries and a network of over 150 strategic partners, strengthening professional connections and opportunities across borders. ISCA is also a member of Chartered Accountants Worldwide, a global network representing more than 1.8 million Chartered Accountants and students across over 190 countries.

ISCA advances professional development and lifelong learning through ISCA Academy, its training arm and drives community impact through ISCA Cares, its charity arm.

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

ANNEX

About Honorary Member Conferment

Mrs Tan Ching Yee

Mrs Tan Ching Yee is conferred ISCA Honorary Membership in recognition of her significant contributions to the accountancy profession, Singapore’s public administration, corporate regulatory ecosystem and national economic resilience.

Mrs Tan has served in senior leadership roles across Singapore’s public sector and key national institutions. She currently serves as Chairman of the Energy Market Authority, Chairman of the Management Board of the Institute of Policy Studies at the National University of Singapore, Non-Executive and Independent Director of OCBC, Senior Advisor to the Prime Minister’s Office on a project basis, and an alternate member of the Council of Presidential Advisers.

Since joining the public sector in 1986, Mrs Tan has held senior appointments across several key ministries, including Trade and Industry, Education, the then-Ministry of Information, Communications and the Arts, Health, and Finance. Her public-sector career has spanned major areas of national policy, including economic development, education, healthcare, fiscal policy and public administration. Through these roles, she has contributed to policy formulation and implementation across different stages of Singapore’s development.

Within the accountancy profession, Mrs Tan has supported the growth and development of the sector through her role as Permanent Secretary (Finance) from 2016. She provided support for the enhancement of the Singapore Chartered Accountant (CA) Qualification, strengthening its relevance to the profession and the broader business community. She also facilitated the transition of the Singapore CA Qualification to the administration of the Institute of Singapore Chartered Accountants in 2024, an important development in the continued strengthening of Singapore’s professional accountancy pathway.

Mrs Tan was Board Chairperson of the Accounting and Corporate Regulatory Authority (ACRA) from 2018 to 2022. During her tenure, ACRA embarked on a multi-year transformation to move from primarily being an information provider to a business enabler. This transformation involved closer collaboration with Government agencies and industry partners to develop more integrated and responsive solutions for businesses. It also supported broader efforts to strengthen Singapore’s regulatory environment and maintain its position as a trusted and competitive place to start and conduct business.

Mrs Tan served as Chairperson of the Inland Revenue Authority of Singapore (IRAS) during 2016 to 2025. During the COVID-19 pandemic, IRAS expanded beyond its traditional tax administration role to support the disbursement of national grants to enterprises. IRAS implemented key support measures including the Rental Support Scheme, Jobs Support Scheme, Wage Credit Scheme, corporate tax rebates and property tax rebates. These measures helped channel timely support to businesses, employers and property owners during a period of significant economic disruption.

In her retirement, Mrs Tan continues to contribute in the public and private sectors.

Mrs Tan was awarded the Public Administration Medal (Silver) in 1999, the Public Administration Medal (Gold) in 2008, and the Meritorious Service Medal in 2018.

About Distinguished Lifetime Member

Mr Phillip Tan, FCA (Singapore)

Mr Phillip Tan is conferred ISCA Distinguished Lifetime Member in recognition of his significant contributions to the accountancy profession, Singapore’s business community, public service and the social service sector. 

Mr Phillip Tan, FCA (Singapore), is a former partner at PricewaterhouseCoopers (PwC), where he was a member of the Singapore leadership team and led the firm’s capital and insurance market practices. Over a distinguished career spanning more than 30 years in audit and financial advisory services, he served a number of large listed companies and developed deep expertise in the insurance sector. His professional experience includes advising companies on cost reduction and reorganisations, mergers and acquisitions and financial investigations. 

Within the accounting profession, Mr Tan has made significant contributions through various leadership and advisory roles. He was formerly Chairman of the Insurance Committee and the Financial Statements Review Committee at the Institute of Singapore Chartered Accountants (ISCA), where he contributed to strengthening professional standards, financial reporting practices and sector-specific thought leadership. He also served as a member of the Accounting Standards Council of Singapore, supporting the development of accounting standards and the broader financial reporting ecosystem in Singapore. In the corporate sector, Mr Tan continues to contribute his extensive governance, audit and financial advisory experience as Director of the Citystate Capital Asia group of companies and EQ Insurance Company Ltd. He was also formerly Chairman of Mount Alvernia Hospital, where he brought his financial stewardship and governance expertise to the healthcare sector. 

Beyond his professional and corporate contributions, Mr Tan has played a prominent role in public service and the community. He is currently Advisor to Community Chest, Singapore’s largest social-services fundraiser, and Chairman of the Board of Directors at Yellow Ribbon Singapore, which supports the rehabilitation and reintegration of ex-offenders and their families. His long-standing commitment to social service has included leadership roles in organisations that support vulnerable communities, promote social resilience and strengthen the charitable sector. 

His past community and public service appointments include the Board of Trustees and Chairman of Audit Committee of NUS, Chairman of Board of Visiting Justices for Prisons, Vice-President of the National Council of Social Service, Chairman of Community Chest, and Audit Committee Chair for the Foundation of Rotary Clubs (Singapore) Ltd. During his tenure with Community Chest, he helped to advance philanthropic giving and mobilised resources for social service agencies across Singapore. In 2020, he led Community Chest to raise a record $87 million, of which $31 million was dedicated to COVID-19-related causes. These included The Invictus Fund, which supported the business continuity of over 90 social service agencies, and The Courage Fund, which supported more than 42,000 lower-income households, and healthcare and frontline workers affected by COVID-19. 

A retired Justice of the Peace, Mr Tan has been recognised with several national honours for his outstanding contributions to Singapore and the community. He was awarded the Public Service Star (Bar) in 2007, the Meritorious Service Medal in 2017, the Public Service Star (COVID-19) in 2023, and the Distinguished Service Order (Darjah Utama Bakti Cemerlang) in 2024.

About Special Appreciation Award Recipients

ISCA Strengthening Small and Medium Practices (SMP) Taskforce

The ISCA Strengthening SMP Taskforce (Taskforce) is conferred the ISCA Special Appreciation Award 2026 in recognition of its significant contributions to advancing the sustainability and competitiveness of the small and medium-sized practices sector, a critical pillar of Singapore’s accountancy ecosystem.

Under the co-chairmanship of Mr Helmi Bin Ali Bin Talib, FCA (Singapore), Managing Partner of Kreston Helmi Talib, Former ISCA Council Member, and Mr Koh Wee Kwang, FCA (Singapore), Director of Nexia Singapore PAC, Current ISCA Council Member, and with the valuable contributions of Taskforce members including:

• Mr Saurav Bhattacharyya, Chair of Action Community for Entrepreneurship (ACE.sg);
• Mr Charles Ng, PBM, FCA (Singapore), Director of Abacus Corporate & Consulting Services
• Mr Ryan Piper, Chief Executive Officer of Morrison Global

The Taskforce brought together deep expertise and diverse perspectives across SMP operations, digital platforms and global professional networks.

Through extensive stakeholder engagement, including consultations with SMP practitioners, Institutes of Higher Learning and users of professional services, the Taskforce developed a comprehensive Strategy Discussion Paper that provides a practical roadmap to rejuvenate and strengthen the SMP sector.

The Taskforce’s recommendations address key issues relating to collaboration, capability development, digital transformation, talent attraction, firm competitiveness and internationalisation. These include promoting collaboration among firms through shared services, enhancing visibility and trust through capability recognition frameworks, enabling access to overseas opportunities through Professional Services Centres, and strengthening talent pipelines through partnerships with educational institutions.

Given that SMPs make up the vast majority of accounting entities in Singapore and play a vital role in supporting the broader business community, the Taskforce’s work was both timely and impactful. The strong interest in the paper, which has been downloaded more than 650 times across 54 countries since its publication, underscores the significance and wider relevance of the Taskforce’s work.

The Taskforce has completed its mandate with the successful delivery of this strategic roadmap, and its contributions have laid an important foundation for future initiatives that will strengthen the profession and enhance its long-term relevance and resilience.