30 Jun 2014
Singapore – 25 June, 2014 – The Singapore Accountancy Commission (“SAC”), the Institute of Singapore Chartered Accountants (“ISCA”), and the Institute of Chartered Accountants of Scotland (“ICAS”) have signed an Expression of Intent (EOI), which signals the intent to establish a closer relationship among the three organisations.
The EOI paves the way to explore potential reciprocity for members of ICAS and ISCA, the entity designated under the Singapore Accountancy Commission Act to confer the Chartered Accountant of Singapore professional designation. A reciprocity agreement sets out the framework for members of one body to become a member of the other, subject to members meeting the conditions of the agreement. The EOI was signed by Mr Uantchern Loh, Chief Executive of SAC, Mr Lee Fook Chiew, Chief Executive Officer of ISCA, and Mr Anton Colella, Chief Executive of ICAS.
Mr Uantchern Loh, Chief Executive of the SAC, said, “The SAC is delighted to take the first step in building a strong relationship with ICAS and its members. As we work towards eventual reciprocal arrangements, we believe ICAS’s long and illustrious history as a leading professional accountancy body will serve to attract Chartered Accountants of Singapore to explore career opportunities in Scotland.”
Mr Lee Fook Chiew, Chief Executive Officer of ISCA, said, “The EOI represents another step forward to attain global recognition for our members, bringing them more opportunities worldwide. It is in line with our vision to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community. This collaboration will further cement the strong relationship we have with ICAS, an internationally recognised accountancy body.”
ICAS Chief Executive, Mr Anton Colella, said, "We welcome the opportunity to work more closely with the Institute of Singapore Chartered Accountants and the Singapore Accountancy Commission. We believe there is great mutual benefit in signing this agreement of reciprocity. It brings together the Chartered Accountants in one of the world's most vibrant and dynamic financial centres with the global community of ICAS, the world's first professional body of accountants. Sharing our networks and knowledge is a hugely positive and valuable development."
For the original media release, please go to: ISCA Media Centre
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