ISCA Forms New Partnerships with Singapore Institute of Management and PSB Academy to Develop Accountancy Talent

SINGAPORE - Media OutReach Newswire - 27 August 2024 - To further enhance the accountancy talent pipeline in Singapore and abroad, the Institute of Singapore Chartered Accountants (ISCA) has signed Memorandums of Understanding (MOUs) with SIM Global Education, one of the core entities of the Singapore Institute of Management (SIM), and PSB Academy.

Under these agreements, undergraduates pursuing accountancy at SIM Global Education and PSB Academy will be empowered to kickstart their professional journey to becoming a Chartered Accountant of Singapore [(CA) Singapore] and connect with the wider accountancy community through ISCA. The benefits accorded to students of both institutions cover a wide range of areas:

• Undergraduates from selected accounting degrees from both institutions will be eligible to pursue the SCAQ foundation level exams during their final year of studies. This will allow them to focus better on kickstarting their careers upon graduation.
• Students can be awarded up to five exemptions for examination papers, out of the six in total required to progress through the programme. This will accelerate their journey to be a Chartered Accountant, reducing the time previously required by up to half.
• Upon completing the foundation level of SCAQ, they will be awarded the ISCA Professional Business Accountant (PBA) title.
• For students living in Singapore, ISCA will support them through career placements with ISCA’s wide network of Accredited Training Organisations (ATOs), comprising more than 500 corporates in Singapore. This will also benefit ATOs, in addressing the manpower crunch faced in recruiting talent.
• For overseas students returning home, ISCA will continue to nurture their interest to continue pursuing the SCAQ Professional Programme back in their home countries, to guide them towards attaining the CA (Singapore) designation. The students will be supported by ISCA wide network in 12 cities in 9 countries.

The two MOUs were signed earlier today by ISCA CEO Ms Fann Kor and representatives from the respective universities, SIM’s Interim President and CEO Professor Wei Kwok Kee, and PSB Academy CEO Mr Derrick Chang.

“At PSB Academy, we recognise that in today’s interconnected global landscape, accountancy plays a critical role in driving transparency, trust, and growth across industries,” said Mr Viva Sinnah, Executive Chairman of PSB Academy. “This prestigious affiliation with ISCA empowers our local and international students to excel in this vital field, positioning them to become key contributors to the global accountancy landscape. Through this partnership, we are cultivating a new generation of professionals who will uphold and advance the standards of excellence for which Singapore’s accountancy sector is renowned.”

Commenting on the partnerships, ISCA President Mr Teo Ser Luck said: “ISCA continues to enhance our partnerships with the Institutes of Higher Learning in Singapore and develop a sustainable pipeline of qualified chartered accountants. This year, there is renewed interest in the profession, resulting in nearly double the enrolment for SCAQ. Our new partnerships with SIM and PSB Academy will further strengthen the accountancy pipeline not just in Singapore but globally.”