Funding Overview

Funding available for ISCA Financial Forensic Accounting Qualification and ISCA Infrastructure & Project Finance Qualification

The SkillsFuture Study award is a $5,000 award to defray the cost of your course to encourage the development and deepening of skills needed by the future economy. The ISCA FFA Qualification and ISCA Infrastructure & Project Finance Qualification (ISCA IPFQ) are supported courses under the SkillsFuture Study Award for the Accountancy Sector. 

Please visit the SkillsFuture Study Awards for Accountancy Sector website here for more details on the eligibility criteria and application process. You may apply for this award during your course of study but before the completion of the qualification programme.

SN

FTS recognised programmes

Programme Code

1

Infrastructure & Project Finance Qualification – Project Risks and Financing

P190903BZH

Enhanced Funding Support for IBF FTS (with effect from 8 April 2020)

In light of the economic challenges arising from COVID-19, MAS announced support of up to S$90 million, to encourage financial institutions and individuals to make use of the downtime for training and deepening of skills.

Enhanced Funding Support for IBF FTS

To position the financial institutions and FinTech firms for stronger growth when the threat of COVID-19 recedes and economic activity normalises, the following enhanced course fee subsidies are introduced:

  1. For courses commencing between 1 January 2022 and 30 June 2022, FTS funding support will be raised to 80% of direct training costs subject to cap of S$2,000 per participant per programme. Singapore Citizens aged 40 years old and above will be eligible for 90% co-funding of direct training costs.
  2. Eligible companies (Singapore-based financial institutions regulated by MAS and SFA certified FinTech firms) who are supporting their employees for training can claim for Training Allowance Grant which is $10 per training and assessment hour. The Training Allowance Grant will apply to Singapore Citizens or Singapore Permanent Residents who successfully completed IBF recognised courses that commence training between 1 July 2021 to 30 June 2022.

Module 2: Project Risks and Financing

Module Fee (without GST)

$2,200

GST

$154

Enhanced course fee subsidy (80%), subject to prevailing $2,000 grant cap

($1,760)

Nett Fees Payable to ISCA (Inclusive of GST)

$594

Eligibility Criteria

  1. Eligible Participants include:
  • All Singapore Citizens and Permanent Residents sponsored by financial institutions (FI) and eligible FinTech firms
  • Licensed representatives such as insurance agents, financial advisers, and remisiers supported by FI principal
  • General insurance (GI) agents registered with the General Insurance Association’s (GIA) Agent Registration Board
  1. Eligible companies include Singapore-based Financial Institutions (licensed or exempt from licensing by MAS) and FinTech firms certified by Singapore FinTech Association (SFA).
  2. Must have successfully completed FTS recognised programme (See list of FTS recognised programmes listed in table above)

Note: The individual will not be eligible for the course fee subsidy if he/she drops out halfway through the course or did not pass the assessment. ISCA will take reasonable steps to claw back the disbursed course fee subsidy from the self-sponsored individual or the sponsoring company and return the monies recovered to IBF within 3 months from the completion of the course for the cohort.

Please refer to www.ibf.org.sg for more information.

Funding period: until 31 Mar 2022

Under UTAP, NTUC members enjoy 50% *unfunded course fee support, capped at $250 each year, for courses supported by UTAP. For more information on the UTAP, please click here

Click here to download the UTAP Application Guide and FAQs. To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/

Should you have queries on UTAP, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213 8008.

The ISCA Financial Forensic Accounting (FFA) Qualification is one of the curated programmes under the ISCA Support Fund to support SMPs who wish to expand or grow their business into forensic advisory. Eligible SMPs and sponsored employees must meet the following criteria in order to be eligible for the funding support.

Qualifying Period

1 February 2021 to 30 June 2022

Eligibility Criteria

  • SMP is awarded the funding support under the ISCA Support Fund.
  • Employee must be sponsored by the firm and must be an approved candidate of the ISCA FFA Qualification.
  • Candidate must be a Singapore Citizen (SC) or Permanent Resident (PR).
  • Candidate must fulfil full workshop attendance requirement (i.e., 100% workshop attendance) AND passed the module examination.
  • Fee(s) must be incurred during the qualifying period (see above) to be eligible for the funding support. (See Table 1)

Full Fee must be made to ISCA at point of application fee, candidate fee payment and/or enrolment. Funds will only be disbursed (on a reimbursement basis) to the SMPs upon receiving the supporting documents (Invoice , proof of payment by the company and proof of workshop attendance etc.). Funds cannot be disbursed to employees of the SMPs or to any other third party.

  • The claims must be submitted by the SMPs before 30 June 2022. Please visit the ISCA Support Fund webpage, under 'FAQs' section, for details on claim submission and disbursement
  • Please refer to the types of fee(s) and quantum supported by the ISCA Support Fund in the Table 2 and 2.1.

    Other Terms and Conditions

  • Approved candidates are to adhere to the rules and policies of the ISCA PQ Rules and Policies Handbook. Interested applicants are required to read and understand the rules and policies before completing the online application.  
  • All other fee(s) incurred for the ISCA FFA Qualification during the qualifying period (as stated below but not limited to) are NOT eligible for the funding support:
    • Re-sit examination fee
    • Re-enrolment module fee (Note: Funding support is only applicable for the first-time enrolment. Any re-enrolment fee will not be supported.)
    • Miscellaneous fee
  • ISCA reserves the right to reject the claim if any of the eligibility criteria above is not met and/or if any information provided by the SMP and/or candidate are found to be inaccurate. In event if the reimbursement has made to the SMP, ISCA reserves the right to take reasonable steps to claw back the funded amount from the SMP.

SMPs who are keen to apply for the ISCA Support Fund and are interested in taking up the ISCA FFA Qualification can take note of the following timelines for the upcoming sessions in order to be eligible for the funding support.

Table 1

Workshop and Exam Session Enrolment Period Eligible for Funding Support? Claims Submission Deadline
April 2021 Workshop & May 2021 Exam January to February 2021 Yes (Only for Invoices dated 1 Feb 2021 onward) Claims Submission Deadline: 30 June 2022
 
Please visit the ISCA Support Fund webpage for details on claim submission and disbursement.  
October 2021 Workshop & November 2021 Exam July to August 2021 Yes Claims Submission Deadline: 30 June 2022
 
Please visit the ISCA Support Fund webpage for details on claim submission and disbursement.  
April 2022 Workshop & May 2022 Exam January to February 2022 Yes Claims Submission Deadline: 30 June 2022
 
Please visit the ISCA Support Fund webpage for details on claim submission and disbursement.  

Type of Fee(s) Supported and Funding Quantum

Table 2

SN Fee(s) Supported Funding Quantum
1.       Application Fee 70%
2.       Annual Candidate Fee 70%
3.       Module Fee(s) for
·         Forensic accounting and investigation
·         Digital Forensics
·         Financial Crime
·         Professional Requirements
70%

 

Table 2.1 – Detailed Breakdown of Fee(s), ISCA’s Support and Cost to SMPs

Fee(s) SupportedFull Fee ($)
(Exclude GST)
ISCA’s support ($) Cost to SMPs ($)
(Exclude GST)
Application Fee 100 70 30
Annual Candidate Fee 150 105 45
Module Fee – Forensic Accounting and Investigation 1,500 1,050 450
Module Fee – Digital Forensics 1,500 1,050 450
Module Fee – Financial Crime 1,500 1,050 450
Module Fee – Professional Requirements 200 140 60
Total 4,950 3,465 1,485

 

Updated as at 30 March 2021

 

The following ISCA FFA Qualification module(s) are SkillsFuture Credit-eligible courses:

Course Ref. No. Module Name Valid from Valid To
TGS-2021004138 Forensic Accounting and Investigation 1 May 2021 30 April 2023
TGS-2021004139 Digital Forensics 1 May 2021 30 April 2023
TGS-2021004134 Financial Crime 1 May 2021 30 April 2023

 

SkillsFuture Credit (SFC) aims to encourage individuals to take ownership of their skills development and lifelong learning. Introduced in 2015, all Singaporeans aged 25 and above will receive an opening credit of S$500.

To further encourage Singaporeans to take timely action to reskill and upskill to seize opportunities in the future economy, a one-off SkillsFuture Credit top-up of $500 will be provided to every Singapore Citizen aged 25 years and above as at 31 December 2020. From 1 October 2020, this top-up can be used on all SkillsFuture Credit-eligible courses, and will expire on 31 Dec 2025.

You may wish to use your SFC and the SFC top-up to offset part of the module fee(s) during enrolment. However, please note that the additional SFC (Mid-Career Support) of $500 provided to Singapore Citizen (SC) aged 40 to 60 as at 31 December 2020 is NOT applicable for use on ISCA FFA Qualification module(s).  

 

For more information on the SFC scheme, please visit https://www.skillsfuture.gov.sg/credit

 

If you wish to enrol for the module with SFC, please proceed with the following steps:

  1. Ensure that you have sufficient credit balance in your SFC account in order to make a successful claim. Please check your SFC account balance here.
  2. Enrol for your desired module(s) via the ISCA Professional Qualification (PQ) Portal when the enrolment period is open.
  3. Upon reaching the payment summary page, please ensure that you have input the SFC amount under the Funding Section -> Funding Amount. Upload the SFC Indication Form and screenshot of your SFC account balance. Click “Apply”. The system will auto-calculate the Nett Fee payment. Please ensure the Nett Fee displayed is correct before clicking “Next” to make the payment. 
  4. MySkillsFuture Portal.

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.

 

Terms and Conditions for SFC eligible courses

  1. SkillsFuture Credit (SFC) is only applicable for self-sponsored individuals.
  2. Please note that SFC indication form is an indication to use your SFC for ISCA's verification purpose and not the actual claim submission to SSG.
  3. You are required to pay the Nett Fee (less the SFC Amount) at the point of module enrolment on the PQ Portal.
  4. Use of SFC is not applicable on application fee, candidate fee, re-sit examination fee and other miscellaneous fee.
  5. You are required to upload a screenshot of the SFC account balance together with the completed SFC indication form for EACH module enrolment on the PQ Portal for ISCA's verification.
  6. You are required and responsible for submitting the claim via the MySkillsFuture Portal (https://www.myskillsfuture.gov.sg/) BEFORE the course start date. You may start to submit the claims as early as 60 days before the course start date.
  7. You are responsible to cancel any submitted SFC claims via the MySkillsFuture Portal BEFORE the course start date (due to your own withdrawal/deferment request reasons). You will not be able to submit any cancellation in MySkillsFuture Portal after the course start date and you would need to make an appeal to SSG directly which would be assessed by SSG accordingly.
  8. For avoidance of doubt, the SFC amount will still be drawn from your account by SSG to pay for the course even if you fail (for any reason) to attend the course and you have not cancelled your SFC claim with SSG.
  9. Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use.
  10. An administrative fee of S$42.80 will be charged if SSG does not approve your SFC claim application due to late submission and/or insufficient account in your SFC account.
  11. ISCA reserves the right to claw back the administrative fee or the indicated SFC amount in event if you did not meet the eligibility criteria for the SFC claim or the claim is unsuccessful.