03 Sep 2018
ISCA CEO, Mr Lee Fook Chiew, was quoted in The Business Times on the question of "How has the Asean Economic Community (AEC) impacted your organisation so far? As the region continues to work towards the AEC Blueprint 2025, what further measures of market integration or trade facilitation are businesses looking to?" This is what he has to share:
As the region continues to work towards the liberalisation of trade in services within ASEAN, there will be greater demand for professional services such as accounting. Under the Mutual Recognition Arrangement on Accountancy Services (MRAA), which was signed by all ASEAN states in 2014, the ASEAN Chartered Professional Accountant (ASEAN CPA) title enables accountants from ASEAN countries to provide non-regulated accountancy services across ASEAN, without having to go through extensive re-training and re-qualification procedures. In Singapore, only ASEAN nationals who are ISCA members are eligible to apply for the ASEAN CPA designation. With the ASEAN MRAA, accountants and businesses in ASEAN will benefit from the greater mobility of labour and professional expertise, as well as a more open market and pro-business environment across the region. - Lee Fook Chiew, Chief Executive Officer, Institute of Singapore Chartered Accountants (ISCA)
This article was first published in "Views From the Top" in The Business Times on 3 September 2018.
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