ISCA and LawSoc Team Up to Help Professional Services Firms Expand Regionally and Offer More Value
- Written by Media Outreach
What clients need from professional services firms is changing. It is no longer just about meeting compliance requirements. Companies now require coordinated advice across legal, financial and governance areas to support growth, manage risk and execute transactions with confidence. As more work spans multiple jurisdictions, clients are also looking for integrated teams that can support cross border needs seamlessly. This partnership brings the legal and accountancy professions together to meet that demand and create new opportunities for members.
A key focus of the collaboration is building skills that match how professionals learn and work today. ISCA and LawSoc will jointly develop a digital learning platform that allows lawyers to learn anytime, anywhere, through on demand modules that are practical and relevant to daily work. The platform is the first of its kind that will also support cross learning, enabling lawyers to build knowledge in accounting, finance and governance, while accountants strengthen their understanding of legal concepts relevant to risk, transactions and advisory work.
To help more legal professionals benefit from the learning platform, ISCA and LawSoc are working with NTUC LearningHub to enable funding options for eligible legal professionals. Continuing Professional Development (CPD) training courses are also expected to be made available through NTUC LearningHub's Learning eXperience Platform (LXP) later in the year, with options such as SkillsFuture Credit and the Union Training Assistance Programme (UTAP) funding to help keep training affordable and accessible. This will enable more professionals to upskill more quickly and strengthen capabilities across the profession.
The partnership will also strengthen Singapore's position as a trusted base for professional services work in the region. Amid an increasingly complex geopolitical and economic landscape, Singapore continues to stand out as a stable and resilient hub for global business. ISCA and LawSoc will advance discussions on setting up a Professional Services Centre in Singapore. The Centre is intended to help two groups. First, it will support investors and companies who want to set up or expand in Singapore. Second, it will support Singapore based companies that want to expand overseas. By connecting businesses to coordinated legal and accountancy expertise, the Centre will help companies deal with cross border requirements, governance expectations, and expansion decisions. This builds on earlier Professional Services Centre efforts in Nanjing, Hongqiao and Ho Chi Minh City.
Mr Teo Ser Luck, President of ISCA, said: "This is a significant partnership for both organisations. Together, we are establishing a Professional Services Centre that connects businesses with the legal and accounting expertise they need, helping them close deals with confidence and manage the risks that come with operating across borders. It is about building real capability, strengthening Singapore's professional services ecosystem, and giving our professional services firms and businesses, including SMEs, the support they need to pursue opportunities together with confidence."
Professor Tan Cheng Han, SC, President of the Law Society of Singapore, said: "Clients increasingly face issues that sit across law, finance and governance. Good advice depends on closer teamwork between lawyers and accountants. This partnership supports our members by strengthening training, expanding cross learning, and advancing initiatives such as a Professional Services Centre in Singapore to help firms compete and grow in the region."
Mr Joe Loy, Assistant Chief Executive and Managing Director of Digital Business, NTUC LearningHub, said: "CPD is essential in ensuring lawyers keep their skills current as practice areas, regulations and client expectations continue to evolve. At NTUC LearningHub, our focus is on making CPD training practical, accessible and affordable, enabling lawyers to fulfil their professional requirements while building relevant capabilities. By working with industry partners such as ISCA and LawSoc, we aim to lower barriers to training and help more lawyers stay competent, compliant and ready for the demands of their profession."
Ms Junie Fo, Vice President & Head, Professional Services, Singapore Economic Development Board, said: "Singapore is a trusted business hub where professional services firms support global and local businesses in navigating complex global dynamics. The partnership between ISCA and LawSoc strengthens Singapore's professional services offerings through deeper cross-sector sharing, while helping our accounting and legal talent develop emerging skillsets and enhance capabilities to support businesses in capturing new opportunities across the growing region. EDB looks forward to working with both organisations as we continue to grow Singapore's Professional Services sector."
Hashtag: #ISCA #DifferenceMakers #Accounting #Accountancy #CharteredAccountants #ChooseAccountancy #MOUSigning
The issuer is solely responsible for the content of this announcement.
