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To help meet members’ training during the economic downturn, the Institute of Certified Public Accountants of Singapore (ICPAS) is giving back as much as S$1.5 million to members through the Continuous Professional Education (CPE) Training Assistance Package, a funding support scheme. The Hong Kong Institute of Certified Public Accountants had announced similar initiatives earlier (read it here).

Under the Training Assistance Package, ICPAS' 21,000 members will receive CPE training credits worth 50% of their membership fees, valid in the year 2009. For every dollar spent on CPE training, members will enjoy a dollar rebate, up to a maximum of 50% of their membership fees. The redeemed credits cannot pay more than 50% of any course fee.

The institute said that core programmes such as Technical Discussion Groups and some practice-related courses will be conducted on a cost recovery basis.  To further assist its members cope with the financial crisis, ICPAS has also frozen its CPE training fees for 2009.