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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 [10]).

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.