Welcome Address by ISCA President Mr Kon Yin Tong at the ISCA Members Recognition Ceremony at Pan Pacific Singapore on 17 October 2019 at 7.00 pm

Members of ISCA,

Ladies and Gentlemen,

Good evening.

Thank you for joining us today at the Institute’s second Members Recognition Ceremony of the year. This evening, we are pleased to welcome more than 260 new Chartered Accountants of Singapore into our growing ISCA family. On behalf of the Institute, I would like to extend our heartiest congratulations to you.

Tonight, we also have with us senior members who have journeyed with the Institute for decades. These are our members who have attained 50 years of membership, Life Members and members who hold the Fellow Chartered Accountant of Singapore, or FCA (Singapore) designation. The FCA (Singapore) designation is conferred on accountancy professionals in senior positions who have been ISCA members for at least 10 consecutive years. Thank you for your dedication to the profession and for your continued support to the Institute.

We will also confer the ISCA Financial Forensic Professional (or ISCA FFP) credential to three of our members today. The ISCA FFP credential is a mark of excellence for financial forensic professionals, obtained through the ISCA Financial Forensic Accounting Qualification. I encourage members who are interested in the field of financial forensics to sign up for the qualification.

This evening, we will also be presenting a token of appreciation to former Council Members and Committee Members, who stepped down at our Annual General Meeting held in April this year. I would like to express my deepest appreciation to you for your contributions to the profession and service to the Institute.

Introduction to Invited Speaker

At every Members Recognition Ceremony, the Institute invites a member who is an experienced industry leader to share valuable insights and experiences.

Tonight, we have the honour of hearing from Mrs Fang Ai Lian, a Fellow Chartered Accountant of Singapore. Mrs Fang is the Advisor to Far East Organisation. She also holds directorships at various organisations including Metro Holdings and Singapore Post.   Mrs Fang is the Chairman of the Board of Trustees of the Singapore Business Federation and Medishield Life Council, and a member of the Singapore Totalisator Board.

Mrs Fang was the Chairman of Great Eastern Holdings Limited and its insurance subsidiaries as well as a Director of OCBC Bank until her retirement in April 2014. Prior to that, she was with Ernst & Young for over 30 years until her retirement in March 2008. At Ernst & Young, she was appointed Managing Partner in 1996 and Chairman in 2005.

We look forward to hearing more from her later.

Heightened Global Recognition

Before that, I would like to share with you what ISCA has done to add value to our members and the profession. In today’s globalised business environment, it is important for ISCA to raise our global prominence. Having a prominent global profile brings benefits to our members in terms of their career mobility and employability in the global marketplace. We continue to forge international connections and heighten our global visibility.

ISCA is a full member of the prestigious Chartered Accountants Worldwide, which brings together leading institutes of Chartered Accountants to support, develop and promote the role that Chartered Accountants play globally. ISCA members who hold the CA (Singapore) designation can tap the international networking opportunities and receive thought leadership insights via the Chartered Accountants Worldwide International Hub.

The Institute also signed Reciprocal Membership Agreements with internationally recognised accountancy bodies, thereby enhancing the stature of the CA (Singapore) designation. We hold agreements with the Institute of Chartered Accountants in England and Wales, the Institute of Chartered Accountants of Scotland and Chartered Accountants Ireland.

Vast Opportunities as a Chartered Accountant of Singapore

To our new members, tonight’s ceremony marks the beginning of your journey as an ISCA member. A vast array of resources and opportunities are now open to you to prepare you for the future business landscape.

Take, for instance, the learning roadmaps we developed for professional accountants in business as well as audit professionals in Small and Medium Practices. With the learning roadmaps, you can take charge of your professional development and career planning by discovering your learning needs based on your proficiency level. You can then identify the Continuing Professional Education courses to enhance your skills gap.

In addition, with technology, we now have even more opportunities to raise professional excellence and prominence in the digital age. For the first time, ISCA is issuing digital badges to help members gain recognition for their membership and professional development. As a visible, verifiable and sharable emblem of one’s professional achievements, the digital badges will enhance our members’ personal brand in today’s digital era.

For a start, we are pleased to issue digital badges to members who have been with the Institute for 10, 20, 30 and 40 years, in recognition of their membership milestones and loyalty. Next year, ISCA will issue digital badges to recognise members’ professional achievements acquired in a learning environment via the ISCA CPE Certification courses and specialisation pathways.

Together with Chartered Accountants Worldwide, we have also created a Network Member Logo for international recognition of the chartered accountancy profession. ISCA Members who hold the CA (Singapore) designation can display this Network Member Logo, showcasing that they are part of a global network of Chartered Accountants. 

I will pause here to share the digital badge video with you. Do keep a lookout for this new initiative when it is launched next month.

Explore other possibilities of an accountancy career besides audit

Another instance of how ISCA prepares members for the future business landscape is through specialisation pathways that enable them to transit into high-growth areas. As mentioned earlier, today three members will be conferred the ISCA FFP credential, given to those who have completed the ISCA Financial Forensic Accounting Qualification.

Our other specialisation pathways include the ISCA-SUSS Business Analytics Certification Programme, and the ISCA Infrastructure & Project Finance Qualification that is developed jointly with Ernst & Young.

Conclusion

In conclusion, I invite all members, especially our new members to make full use of your ISCA membership by actively participating in the many events and activities, as well as accessing the various training opportunities and publications the Institute has in store for you.

I wish you all the best in your professional journey as a Chartered Accountant of Singapore.

Thank you and have a pleasant evening.