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ISCA and EY Singapore will work together to implement the “EY x ISCA SCAQ Career Mobility Programme”. Credit: Rava_Visuals/Shutterstock.com.
The Institute of Singapore Chartered Accountants (ISCA) and Ernst & Young (EY Singapore) have formalised a three-year partnership through a memorandum of understanding (MoU) to introduce the “EY x ISCA SCAQ Career Mobility Programme.”
This initiative is designed to cultivate and retain accounting professionals in Southeast Asia.
ISCA noted that this programme is launched at a time when the accounting field is experiencing significant changes, driven by advancements in technology, the need for sustainability reporting, and the growth of international trade.
It added that the sector is facing challenges related to talent acquisition, with Singapore estimated to require an additional 6,000 to 7,000 accountants by 2025, while the number of local accounting graduates has decreased by over 10% since 2018.
The initiative will focus on university students from Southeast Asia, particularly those in Singapore, Thailand, and Vietnam, promoting the Singapore Chartered Accountant Qualification (SCAQ) as a pathway to international career opportunities and addressing the regional talent deficit.
As part of the MoU, ISCA and EY Singapore will work together to implement the “EY x ISCA SCAQ Career Mobility Programme,” aiming to nurture accounting talent from Southeast Asia, especially from Thailand and Vietnam.
The two organisations will jointly advocate for the SCAQ as a preferred qualification among university students in the region and will collaborate with universities to gain their support.
The programme will also provide training to develop the professional skills necessary for candidates to become fully qualified chartered accountants.
It will create opportunities for cross-cultural work experiences in Singapore, with the goal of retaining skilled accounting professionals and increasing the number of chartered accountants over time.
Students who successfully complete the SCAQ Foundation Programme and earn the ISCA Professional Business Accountant designation will be guaranteed an interview with EY Singapore.
Those who secure full-time positions will then proceed to complete the SCAQ Professional Programme and gain practical experience with EY Singapore as an Accredited Training Organisation.
ISCA president Teo Ser Luck said: “The accounting profession is undergoing transformation, shaped by digitalisation, sustainability, and globalisation. Talent mobility will be critical in ensuring that the profession keeps pace with these changes.
“Through this partnership with EY, we are building a strong regional pipeline of future-ready Chartered Accountants and reinforcing Singapore’s position as a magnet for professional excellence.”
Interest in the SCAQ is growing, with enrolment rising by 47% year-on-year, exceeding 4,200 candidates in 2024, the accounting body said.
ISCA aims to attract over 7,000 candidates by 2025, many of whom will benefit from this initiative.
Liew Nam Soon, EY Asia East Deputy Regional Managing Partner, EY Asean Managing Partner, also Singapore and Brunei Managing Partner at Ernst & Young said: “The strength of our profession lies in the talent we nurture.
“This programme reflects our commitment to develop aspiring Chartered Accountants in Southeast Asia. As a globally integrated organisation, EY has strong experience in harnessing diverse talents to provide quality services to regional clients.
“With that, we look to help deepen the accounting talent pool across the region, and enable aspiring professionals build cross-cultural knowledge and cross-border work experience to excel in an increasingly interconnected business environment.
“Including the support toward local professionals pursuing the SCAQ, EY is investing an estimated S$5m over the next five years to nurture talents in the profession.”
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