ICAS and ISCA sign agreement to establish reciprocal membership for chartered accountants
ICAS has signed a Reciprocal Membership Agreement (RMA) with The Institute of Singapore Chartered Accountants (ISCA).
Under this RMA, an ICAS CA can apply for full membership with ISCA, and attain the CA (Singapore) designation, a recognised mark of excellence in business and a pre-requisite for being a public accountant in Singapore.
Similarly, ISCA members can pursue ICAS’ CA designation without having to fulfil additional professional or educational requirements. To be eligible, the ISCA member must be a Chartered Accountant of Singapore, or CA (Singapore), and has completed the Singapore CA Qualification.
Both ICAS and ISCA recognise the importance of mutual recognition of qualifications in this dynamic, global business environment.
The RMA and MoU were signed on 4 April 2017 by Professor Mark Allison, Executive Director of Education, ICAS and Mr Gerard Ee, President of ISCA.
Professor Mark Allison CA, Executive Director of Education, ICAS, said: “I am delighted to be in Singapore today to sign this RMA on behalf of ICAS. Providing reciprocal membership of ISCA for ICAS CAs creates opportunities for our members to work in one of the world’s most vibrant cities.
"It also cements ICAS’ position as a truly global institute and helps strengthen ties with our colleagues in Singapore.
"Both ICAS and ISCA recognise the importance of mutual recognition of qualifications in this dynamic, global business environment.”
(Professor Mark Allison with Mr Gerard Ee)
Gerard Ee, ISCA President, said “The RMA and MoU with ICAS represents a significant step forward towards our vision to be a globally recognised professional accountancy body, and supports Singapore’s vision to be a global accountancy hub.
"We are delighted to be able to provide our members who have completed the Singapore CA Qualification the opportunity to attain ICAS’s CA designation, paving the way for our members to pursue greater career opportunities in key financial and business centres around the world.
"We believe our enduring relationship with ICAS will continue to bring more value to members of both institutes, who will now enjoy a wider range of technical resources, networking events and professional development courses.”
A stringent assessment process was undertaken by ISCA and ICAS to review the qualifying requirements in education, examination, practical experience, professional standards and regulations of both institutes to reach the reciprocity agreement.
ICAS and ISCA also signed a Memorandum of Understanding to explore further collaboration on member services and professional development for their members around the world. These include granting their members mutual access to each institute’s events and continuous professional education courses.