2012 - November
Place and Train Programme For Accounts Assistants
26 Nov 2012 Category: Media Releases
Singapore, 26 November 2012 — The Institute of Certified Public Accountants of Singapore (ICPAS) and the Singapore Workforce Development Agency (WDA) are collaborating to roll out the Accounts Assistant Place-and-Train Programme (AAPnT) to support the manpower needs of the accounting function.
The scheme, which will be managed by ICPAS and funded by WDA, aims to place and train mid-career job seekers to join the accounting profession as accounts assistants. All trainees who successfully complete the AAPnT will receive the Certified Accounting Technician (CAT) qualification.
The AAPnT enables companies to hire the workers first, and equip the new workers with the required skills. Such an approach will help ease job seekers to upgrade and move across to a better career. Participating companies can apply for training allowance of up to 70 per cent of monthly salary. (Please refer to Annex A for more details.)
The CAT qualification is an introductory course in accountancy that incorporates practical experience in its curriculum. It is designed to equip the trainee with skills and knowledge for an accounting technician role. It also provides a fast track towards becoming a professional accountant. Employers can choose any CAT provider and the training duration typically ranges from 12 to 18 months depending on the training provider and intake chosen.
Mr Lee Fook Chiew, ICPAS CEO, said: “ICPAS is pleased to partner WDA in boosting the pool of accounting technicians to support the growth of the accountancy sector. With the tightening of labour supply this year, many firms are faced with a shortage of accounting technicians. The AAPnT aims to address the shortage of accounting technicians and facilitate the recruitment process. It will re-train workers for new careers in the accountancy profession.”
Mr Azzli Jamain, Director, Creative & Professional Services, WDA said: “WDA is pleased to work closely with ICPAS on this Place-and-Train Programme to build a pipeline of skilled accounts assistants. The training will equip trainees with industry relevant skills needed to do well in their career. While the trainees placed will help to alleviate the shortage of accounts assistants in the short term, they could also pursue a higher qualification (e.g. CPA Singapore) to become accountants later.”
As part of the launch, WDA is partnering ICPAS and NTUC’s e2i (Employment and Employability Institute) to hold a dedicated training and job fair on 26 November 2012. Suitable candidates will have opportunities for immediate interviews with hiring employers. 130 job seekers have registered for this job fair.
Annex A: Factsheet on Accounts Assistant Place-And-Train Programme
About the Institute of Certified Public Accountants of Singapore
Established in 1963, Institute of Certified Public Accountants of Singapore (ICPAS) is the national accountancy body that develops, supports and enhances the integrity, status and interests of the profession.
ICPAS members are professionals in accountancy, finance and business distinguished by their technical expertise, integrity and professionalism, in addition to a recognised accountancy qualification and relevant work experience. ICPAS members serve every corner of the world in every industry. Many of them helm some of the most prominent local and international corporations.
ICPAS accords the CPA Singapore designation. Working closely alongside businesses, ICPAS connects its membership to an unmatched range of information resources, events, professional development and networking opportunities. Presently, there are more than 25,000 members making their strides in businesses across all industries in Singapore and around the world.
ICPAS’ international outlook and connections are reflected in its membership of regional and international professional organisations like the ASEAN Federation of Accountants (AFA), the Asia-Oceania Tax Consultants’ Association (AOTCA), the International Federation of Accountants (IFAC) and International Innovation Network (IIN).
For more information, please visit www.icpas.org.sg.
About the Singapore Workforce Development Agency
The Singapore Workforce Development Agency (WDA) enhances the competitiveness of our workforce by encouraging workers to learn for life and advance with skills. In today’s economy, most jobs require not just knowledge, but also skills. WDA collaborates with employers, industry associations, the Union and training organisations, to develop and strengthen the Continuing Education and Training system that is skills-based, open and accessible, as a mainstream pathway for all workers – young and older, from rank and file to professionals and executives – to upgrade and advance their careers and lives. For more information, please visit www.wda.gov.sg.
About e2i (Employment and Employability Institute)
As THE leading organisation to create solutions for better employment and employability, e2i exists to create better jobs and better lives for workers. In 2011, we helped 46,000 workers through providing better jobs, developing better skills through professional development, and improving productivity for companies. An initiative of the National Trades Union Congress (NTUC), supported by the Workforce Development Agency (WDA), the Singapore Labour Foundation (SLF), and the Singapore National Employers’ Federation (SNEF), e2i serves all segments of workers, from rank and file to professionals, managers and executives.
Visit www.e2i.com.sg for more information.
Factsheet on the Accounts Assistant Place-And-Train Programme (AAPnT)
The AAPnT aims to train and convert unemployed mid-career jobseekers to join the accounting profession as accounts assistants. All trainees who successfully complete the AAPnT will receive the Certified Accounting Technician (CAT) qualification.
The AAPnT scheme supports the vision to transform Singapore into a global accountancy hub for the Asia Pacific by 2020. A key goal aligned with this vision is to enhance the quality and supply of accountancy professionals to meet the needs of different sectors of the economy.
Who is eligible: Singaporeans and Permanent Residents who are unemployed and mid-career jobseekers with no/little relevant accounting experience or qualification.
How it Works: Candidates will be hired by an employer before undergoing a work-study based structured training. Trainees will attend classes at a training service provider for half a day and undergo apprenticeship at the work place for the other half of the day. Placement of the worker starts after the participating company signs a letter of undertaking with ICPAS. Employers are encouraged to bond the candidate for 2 years.
Funding: WDA will fund the training allowance based on 70 per cent of the trainee’s basic monthly salary. Terms and conditions apply.
Training Providers: The CAT qualification is an introductory course in accountancy that incorporates practical experience in its curriculum. It is designed to equip the trainee with skills and knowledge for an accounting technician role. It also provides a fast track towards becoming a professional accountant. Employers can choose any CAT provider.