01 Mar 2012   

The Institute of Certified Public Accountants of Singapore (ICPAS), the national accountancy body, has established a Members’ Development Fund (MDF) to encourage accountants to strengthen their core expertise and develop areas of specialisation. This is in line with the strategic thrust outlined by the Government in the recent 2012 Budget to boost productivity by investing significantly in Continuing Education and Training (CET) to help Singapore’s workforce develop deeper skills and expertise.

With an initial seed funding of $500,000, the fund supports talent development for the profession as Singapore works towards transforming into a leading global accountancy hub for Asia-Pacific by 2020. The MDF will help members defray their training costs and offer assistance to accounting professionals seeking to strengthen and expand their competencies, especially in the current climate of economic uncertainty.

ICPAS Members will be granted $500 worth of training credits to attend Continuing Professional Education (CPE) courses conducted by the Institute. They will be eligible to redeem their training credits against the course fees for CPE programmes, such as ethics, assurance and financial reporting. The training credits are valid for a calendar year. ICPAS will also review the fund regularly to ensure that it remains adequate in supporting its members’ aspirations for skills enhancement.

“The profession is ever-evolving to meet the demands of the marketplace, especially in these times when financial regulatory requirements are growing in complexity. It is imperative for accounting professionals to keep up to date on the latest developments in the profession and acquire the relevant skill sets. With the MDF, ICPAS aims to support the sector’s talent development by encouraging accounting professionals to acquire new skills and competencies. A skilled talent pool is crucial for the accountancy sector’s development and supports Singapore’s position as a global financial centre and business hub.” said ICPAS President Dr Ernest Kan.

Members can refer to the Institute’s website to find out more about the progarmme and conditions for utilising the credit. They can also refer to their “My CPE” accounts to track the usage of their training credits. Alternatively, they can call 6532 5312 or email cpe@icpas.org.sg to find out more about the programme.