ISCA launches Accelerated Pathway Programme to fast-track aspiring Chartered Accountants of Singapore

SINGAPORE - Media OutReach Newswire - 16 April 2024 - The Institute of Singapore Chartered Accountants (ISCA) has launched an Accelerated Pathway Programme (APP) for accountancy degree students to become a Chartered Accountant of Singapore [CA (Singapore)] through a fast-track route.

The APP will be available for 2 years, starting from April 2024, and eligible students can take the Singapore CA Qualification (SCAQ) professional programme module exams while studying for accountancy programmes at the universities.

The APP will be offered to students of the accountancy programmes of the following local Autonomous Universities (AUs):

• Nanyang Technological University
• National University of Singapore
• Singapore Management University
• Singapore University of Social Sciences
• Singapore Institute of Technology

To be conferred the prestigious CA (Singapore) designation, individuals will need to complete the Singapore CA Qualification (SCAQ), a globally recognised programme that imparts up-to-date technical skills and weaves together cross-disciplinary elements to develop leaders of accountancy with an international outlook.

The demand for accountancy talent remains high in Singapore, necessitating a robust supply of chartered accountants to meet business needs. Without proper financial governance processes, financial close procedures, accurate and error-free financial statements, the state of financial reporting for organisations and businesses will be thrown into disarray, with negative implications for Singapore's reputation as a global business centre.

In response to the talent shortage, ISCA is ramping up efforts to promote accountancy as an attractive career choice to the younger generation. The APP is one of the schemes which will support those who are keen to pursue accountancy.

The APP is designed to encourage and support accountancy students to take the SCAQ examinations during the penultimate and final year of their studies. The professional programme modules which are not available for exemptions will be weaved into their accountancy studies. ISCA will provide support including complimentary revision classes to boost these students' confidence as they undertake the challenge to clear their professional qualification examinations.

As an illustration, aspiring chartered accountants who are enrolled in the APP would be fast-tracked upon graduation from their accountancy degree programmes at the local AUs, such that they will only need to complete the final capstone module examination and fulfill the practical experience requirement to attain the CA (Singapore) title.

NTU Associate Dean (Undergraduate Education) of Nanyang Business School, Associate Professor Damien Joseph said: "Nanyang Business School is pleased to partner with ISCA on the APP, highlighting our commitment to nurturing highly skilled and industry-ready graduates. The collaboration offers our accountancy undergraduates essential support and resources to pursue the SCAQ, preparing them for successful careers. Its impact will be especially significant for NBS's flagship three-year direct honours Bachelor of Accountancy programme and the new four-year direct honours Bachelor of Accountancy (Sustainability Management and Analytics) programme."

Associate Professor Chng Chee Kiong, Vice Dean of Undergraduate Studies at NUS Business School, said: "The APP is an important and useful targeted initiative for our undergraduates who are interested in advancing into accountancy-related careers. We believe that APP, together with the work-study internship arrangements that NUS Accountancy has with her industry partners, will significantly provide our accountancy undergraduates an early head start to their professional and leadership training."

Professor Cheng Qiang, Dean, SMU School of Accountancy, said: "The SMU School of Accountancy is committed to preparing our undergraduates with the right skill sets to address the evolving needs of the accounting sector. The APP offered by ISCA is a timely initiative that will encourage more of our undergraduates to pursue the Chartered Accountant of Singapore [CA (Singapore)] qualification – a significant boost to their career progression. We are pleased to partner with ISCA on this initiative and look forward to more collaborations in developing skilled talent for the accounting profession."

Associate Professor Ng Kai Teck, Head of Accountancy Programme at SUSS Business School, said: "The SCAQ APP is a great initiative by ISCA to support our student's career development and start them on the path to be a professional accountant. By clearing their professional examinations early, they can better focus on their practical experience after graduation and complete the SCAQ."

SIT Cluster Director of Business, Communication and Design Cluster, Associate Professor SzeKee Koh, said: "The Accelerated Pathway Programme by ISCA demonstrates a dedication to supporting local accountancy undergraduates as they strive towards a professional CA qualification. By offering complimentary revision classes, ISCA not only alleviates financial burden but also nurtures a conducive learning environment. This initiative facilitates students' engagement in the SCAQ journey alongside their academic pursuits, facilitating a smooth transition into the workforce equipped with strengthened practical skills and competencies".

Alex Koh, Partner, Head of Audit, KPMG in Singapore, said, "The integrity and quality of our accounting graduates are pivotal in maintaining Singapore's status as a trusted global financial hub. The pathway to professional accountancy in Singapore is characterised by its comprehensive and in-depth education, coupled with a rigorous professional accreditation process. This ensures our professionals not only meet but often exceed the high standards our industry demands. At KPMG, we welcome ISCA's initiative to expedite the pathway for accounting undergraduates towards earning the Singapore Chartered Accountant qualification. This is a strategic move in driving quality, scale and speed in nurturing talent for the profession and the wider business ecosystem in this new world."

ISCA President, Mr Teo Ser Luck, said: "ISCA is dedicating resources to support the qualification journey of the next generation of CA (Singapore). Through this programme, an accountancy graduate will get a degree and be on a fast track to achieve an internationally recognised professional qualification. This additional recognition will put budding accounting professionals in a position to explore more career options locally and overseas."

Sign up as a SCAQ candidate via https://scaq.isca.org.sg or write to scaq@isca.org.sg.

Hashtag: #ISCA #Accountancy #Accounting #DifferenceMakers #SCAQ #APP

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Institute of Singapore Chartered Accountants

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 36,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.