SINGAPORE – Media OutReach Newswire – 9 July 2024 – On 9 July 2024, the Institute of Singapore Chartered Accountants (ISCA) signed a Memorandum of Understanding (MOU) with the Shanghai Institute of Certified Public Accountants (SHICPA), to further areas of collaboration between both professional accountancy bodies.
Taking place at the 5th Singapore-Shanghai Comprehensive Cooperation Council (SSCCC) meeting on the same day, the MOU was signed by Mr Teo Ser Luck, President of ISCA, and Mr Gu Hongxiang, President of SHICPA. Under the MOU, both ISCA and SHICPA will establish platforms for information exchange and international visits, as well as collaborate on training programmes to help their members upskill and attain more professional credentials. In addition, members will be able to stay updated on the latest policies, industry trends, technological innovations, and expand their professional network. Overall, the newly-signed MOU will benefit over 36,000 ISCA members, and over 8,000 SHICPA members.
Another key component of the MOU lies in providing guidance and support to the development of small and medium-sized practices (SMPs) in both Shanghai and Singapore, in areas such as international market laws and regulations, industry development trends, accounting-related technology innovations, and practice management models. By tapping on the MOU, SMPs will also enjoy opportunities to participate in exchange activities, better understand the critical success factors to operate in different business environments and to jointly enhance the development of their capabilities.
The MOU is part of a series of efforts by ISCA to further its global footprint and collaborations with other professional accountancy bodies worldwide. Earlier in the year, ISCA signed MOUs with the Hong Kong Institute of Certified Public Accountants (HKICPA) and the Guangdong Institute of Certified Public Accountants (GDICPA).
ISCA President Mr Teo Ser Luck said, “Through our partnership with SHICPA, we hope to facilitate professional exchanges and create opportunities for members from both Institutes. Our recently-inked MOUs with our counterparts from Hong Kong, Guangdong, and now Shanghai will enhance the international network of our accountancy profession.”
Mr Gu Hongxiang, SHICPA President, said, “SHICPA is excited to partner with ISCA. We believe this partnership will not only enhance the professional growth of our members but also promote greater exchange of knowledge and expertise, and our members will benefit immensely, paving the way for future opportunities and advancements in the accountancy profession.”
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About the Institute of Singapore Chartered Accountants (ISCA)
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. Its Academy designs and develops professional development courses and programmes that equip accountancy and finance professionals on developing themes in business and specialisation areas such as sustainability reporting, financial forensics and corporate governance topics for directors.
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.