Better Support for Aspiring Chartered Accountants

SINGAPORE – Media OutReach Newswire – 12 January 2024 – As part of the pipeline of initiatives to increase accessibility of the Singapore Chartered Accountant Qualification (SCAQ), the examination fees for the SCAQ programme will be lowered from June 2024.

The SCAQ programme is the national Chartered Accountant qualification programme that confers the prestigious designation of Chartered Accountant of Singapore (CA Singapore). The SCAQ is a globally recognised programme, with a curriculum that imparts up to date technical skills and weaves together cross-disciplinary elements to develop leaders of accountancy with an international outlook.

Talent Pipeline for Chartered Accountants

ACRA and ISCA have been working with key industry players and members of academia under the auspices of the Accountancy Workforce Review Committee (AWRC) to strengthen our talent pipeline for the accountancy profession, which is in high demand in many sectors, including in new areas like sustainability reporting and financial forensics. The Committee is co-chaired by former Singapore Accountancy Commission Chairman Mr Chaly Mah and 2nd Permanent Secretary of the Ministry of Finance Ms Lai Wei Lin. In line with the work of the AWRC, in November 2023, ACRA announced two enhancements to the SCAQ to enable individuals from diverse backgrounds to pursue the SCAQ qualification[1]. To better harness synergies from the work of ISCA in advancing the accountancy profession, the SCAQ has been administered by ISCA on behalf of ACRA since 1 January 2024.

The fee revision is part of ACRA and ISCA’s joint efforts to further enhance the accessibility of the SCAQ and attract more individuals to embark on the SCAQ to build a sustainable talent pipeline for the accountancy profession. Over the years, as the programme gained wider recognition, enrolment has also grown. With better economies of scale, ACRA and ISCA have been able to lower the various SCAQ fees – examination fees, re-sit fees, and exemptions fees – for both the SCAQ Foundation Programme and Professional Programme from June 2024.

In addition to the revision in fees, a new “student” fee category has also been introduced for the Module Exam Fees, to encourage students to start their SCAQ journey whilst pursuing their tertiary academic qualifications, to attain their CA designation earlier.

The revised fees (before GST) are as follows:

Candidates who are interested in taking the SCAQ examinations can apply for the June 2024 examinations from 15 January 2024 to 31 March 2024.

ACRA Chief Executive, Mr Ong Khiaw Hong said, “The fee revision will make the SCAQ accessible to a wider pool of talent to help build a sustainable talent pipeline for accountancy professionals in Singapore. We will continue to work with ISCA to review the SCAQ to ensure it stays relevant and attractive.”

In addition, ISCA will also be putting in place measures to enhance learning support for SCAQ candidates. ACRA will continue to maintain oversight on the SCAQ programme and work with ISCA to develop the SCAQ and provide conducive pathways for individuals interested in pursuing an accountancy profession.

With effect from 1 January 2024, ISCA has taken on the administration of the SCAQ and will be putting in place measures to enhance learning support for the SCAQ candidates. ACRA continues to maintain oversight on the SCAQ programme and works with ISCA to develop SCAQ and provide conducive pathways for individuals interested in pursuing an accountancy profession.

ISCA President, Mr Teo Ser Luck said, “We have already put in place several initiatives including a dedicated SCAQ Centre that will provide a conducive learning space as well as learning support for our SCAQ candidates. Other initiatives include scholarships for top accountancy students, financial assistance for students in need, and a pilot collaboration with local universities to provide sponsored tuition to accountancy undergraduate students to accelerate their SCAQ journey.”

[1] Enhancements to the SCAQ Programme include: 1) Increase in length of practical experience recognised for purpose of “Relevant Practical Experience Component” that count towards SCAQ programme, and 2) Enhanced pathways to the SCAQ for local polytechnic graduates. More information can be found on ACRA’s website.
Hashtag: #ISCA #Accountancy #SCAQ #ACRA

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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. ISCA’s vision is to be a world-class accountancy body of trusted professionals, contributing towards an innovative and sustainable economy. There are over 35,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

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 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.

About the Accounting and Corporate Regulatory Authority (ACRA)

The Accounting and Corporate Regulatory Authority (ACRA) is the regulator of business registration, financial reporting, public accountants, and corporate service providers. We are also responsible for developing the accountancy sector and setting the accounting standards for companies, charities, co-operative societies, and societies in Singapore. ACRA fosters a vibrant and trusted business environment that enables innovation and growth and contributes towards making Singapore the best place for business. For more information, please visit www.acra.gov.sg.