Two accountancy bodies in Singapore and a group from Scotland have reached a reciprocity agreement that sets out the framework for members of one body to become a member of the other, subject to members meeting the conditions of the agreement.
The Singapore Accountancy Commission, the Institute of Singapore Chartered Accountants, and the Institute of Chartered Accountants of Scotland have signed an Expression of Intent (EOI), which signals the intent to establish a closer relationship among the three organizations.
The EOI paves the way to explore potential reciprocity for members of ICAS and ISCA, the entity designated under the Singapore Accountancy Commission Act to confer the Chartered Accountant of Singapore professional designation.
The EOI was signed by Uantchern Loh, Chief Executive of SAC, Lee Fook Chiew, Chief Executive Officer of ISCA, and Anton Colella, Chief Executive of ICAS.
“The EOI represents another step forward to attain global recognition for our members, bringing them more opportunities worldwide," says Lee Fook Chiew, Chief Executive Officer of ISCA.
ICAS Chief Executive, Anton Colella, adds that the agreement brings together the Chartered Accountants in one of the world's most vibrant and dynamic financial centers with the global community of ICAS, the world's first professional body of accountants.
“As we work towards eventual reciprocal arrangements, we believe ICAS’s history as a leading professional accountancy body will serve to attract Chartered Accountants of Singapore to explore career opportunities in Scotland,” says Uantchern Loh, Chief Executive of the SAC.