Accounting professionals in Singapore will now be able to attain the Institute of Chartered Accountants in England and Wales' (ICAEW) highly-respected Associate Chartered Accountant (ACA) designation, which is recognised globally.
The national accountancy body, the Institute of Singapore Chartered Accountants (ISCA), has signed a Memorandum of Understanding (MOU) with ICAEW (Institute of Chartered Accountants in England and Wales) to establish the ICAEW-ISCA Pathways to Membership scheme.
The ICAEW-ISCA Pathways to Membership scheme will run for two years between January 2014 and December 2015 and enables ISCA members who meet the entry requirements to become an ICAEW Chartered Accountant. To be eligible for the scheme, the accounting professional must be a full ISCA member of at least five years, be of good standing and possess relevant post-qualification experience in an accounting and/or business environment.
In the current environment, where business operations are increasingly globalised, having a globally recognised accountancy qualification is a boost to one’s career. It would also provide access to thought leadership, technical updates and a range of career development programmes.
Under the ICAEW-ISCA Pathways to Membership scheme, eligible ISCA members will need to pass an Examination of Experience to meet the ICAEW’s admission requirements. The Examination of Experience requires applicants to demonstrate their professional competence, skills and expertise by submitting an application addressing a series of questions equivalent in standard to the ACA’s final examination, the Case Study. The Examination of Experience is assessed and marked by ICAEW’s examiners.
ISCA President Dr Ernest Kan said: “The scheme with ICAEW is in line with ISCA’s vision to be a globally recognised professional accountancy body, adding value to our members, the profession and wider community. The prestigious Associate Chartered Accountant designation is globally recognised. Members who have both an ISCA and an ICAEW membership would have a strong competitive edge and greater career mobility worldwide.”
Kan notes the the scheme signals strong endorsement from ICAEW, a leading global accountancy body and a world leader in the accountancy and finance profession. "It also attests to ISCA’s stature in the global accountancy arena, as well as the fact that our local accountants are held in high regard,” adds Kan.
Arthur Bailey, ICAEW Deputy President, explains that the Pathways agreement between ICAEW and ISCA not only provides eligible ISCA members with a great opportunity to obtain membership of ICAEW and the right to use the highly regarded ACA designation, but also gives them access to a wealth of resources, including thought leadership, updates on the latest standards and a vast library.