Latest news with #Acra
Business Times
4 days ago
- Business
- Business Times
More seeking accountancy qualification in Singapore, even as global talent shortage continues
[SINGAPORE] Even as accounting bodies worldwide continue to struggle with attracting fresh talent, Singapore has managed to buck the trend – and the industry here is now in growth mode. With more new faces entering the profession, accounting firms in the city-state could soon get relief from the manpower shortages that have plagued the sector for years. Teo Ser Luck, president of the Institute of Singapore Chartered Accountants (Isca), pointed to a sharp rise in the number of candidates entering the training pipeline as an example. As at Dec 31, 2024, the total number of candidates enrolled in the Singapore Chartered Accountant Qualification (SCAQ) programme crossed 4,200 – a 47 per cent increase from the overall enrolment figure a year earlier. Isca has now set an internal target of exceeding 7,000 total SCAQ candidates in 2025, which would mark a 75 per cent year-on-year jump. The SCAQ, administered by Isca since January 2024, is the sole pathway to obtaining the Chartered Accountant (Singapore) qualification. Universities in Singapore are also seeing stronger interest in accountancy, observed Teo. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Anecdotally, some universities noted that, in their most recent admissions, 100 per cent of successful applicants had picked accountancy as their first-choice degree – a development that contrasts with the situation in recent years. Teo did not name the institutions. Out of the six autonomous universities in Singapore, five offer accountancy courses. Among them is the Singapore Institute of Technology. The university has recorded a more than 30 per cent rise in applications for its accountancy course over the past three years, and a 74.5 per cent increase in its programme intake in the last decade, said Associate Professor Koh Sze Kee, cluster director for business, communication and design. 'Alongside this growing demand, we continue to attract and admit a strong pool of students with high academic standing and a clear aptitude and passion for accountancy,' noted Prof Koh. Just last year, a report by the Accountancy Workforce Review Committee (AWRC) found that fewer students had been choosing accountancy as their top choice, although specific numbers were not disclosed. The AWRC was formed in 2022 to tackle manpower issues in the sector. Since then, recommendations such as boosting entry-level wages and creating more diverse qualification pathways have been adopted. Teo said that these moves – along with the combined efforts of Isca, the Accounting and Corporate Regulatory Authority (Acra), educational institutions, and industry players – have helped reverse the talent decline. Interest is also rising at the pre-university level. A representative from Temasek Polytechnic (TP), speaking at an Acra event last Tuesday (May 27), shared that its diploma in accountancy and finance programme has been attracting more first-choice applications. 'In terms of the last aggregate score, it has also improved across the years from five to 11, to four to 11, to three to 11 (in 2025),' the TP representative said. These aggregate scores refer to the O-level results of successful applicants, where lower scores indicate better performance. International plaudits Singapore's success in replenishing its accounting pipeline has not gone unnoticed internationally. 'I certainly have encouraged other parts of the globe to learn (from) what Singapore has been doing here,' said Lee White, chief executive officer of the International Federation of Accountants, in a recent interview with The Business Times. For instance, recent initiatives by Isca to engage pre-tertiary students in secondary schools, junior colleges and polytechnics are a 'simple, contemporary way' to tackle the sector's manpower challenges, noted White. He added: 'The way this is all marketed by Isca is very, very strong.' But Teo cautioned that this progress cannot be taken for granted. 'We have reversed the trend, but it's still a very long journey,' he warned. 'The trend, (at) anytime, can be reversed.' Some gaps remain. While perceptions that accountancy is a 'boring' career have improved 'slightly', more can be done to feature the profession's diversity. 'We need to do more; seeding that knowledge and the information needs a lot more work,' Teo said. He also wants to further expand the pool by encouraging more non-accounting graduates to qualify, and for closer rapport with businesses, to demonstrate the value of hiring accounting-trained staff. He also advised accountants not to look at their role and say they are 'just another finance person in the company'. 'You should also be (positioned as) a strategic person,... a right-hand person.'
Business Times
27-05-2025
- Business
- Business Times
More guidance for students eyeing accounting careers with new Acra playbook
[SINGAPORE] Secondary school and junior college students aspiring to join Singapore's accountancy profession can now receive better support from their teachers and career counsellors, with the launch of a new playbook by the Accounting and Corporate Regulatory Authority (Acra) on Tuesday (May 27). Targeted at education and career guidance (ECG) counsellors and teachers in pre-tertiary institutions, the playbook is designed to equip them with resources to guide students more effectively. There are more than 100 ECG counsellors across Singapore's secondary schools and junior colleges. The playbook, comprising a website supported by PowerPoint slides, outlines the outlook and skill requirements of the accounting sector, sheds light on emerging roles, dispels common misconceptions, and details the various pathways into the profession. To support the playbook, Acra has also developed a toolkit offering 'quick and easy access' to up-to-date information on career pathways, industry trends, and educational programmes. The toolkit also consolidates available scholarships and bursaries for polytechnic and university students pursuing accountancy. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'The playbook represents our commitment in nurturing the next generation of accountancy professionals,' said Acra chief executive Chia-Tern Huey Min. 'We hope this playbook will equip ECG counsellors and teachers with the tools and insights to showcase the exciting and wide-ranging opportunities in the accountancy profession,' she added. The initiative is part of the work of the Implementation Committee for Accountancy Workforce Development, co-chaired by Acra and the Institute of Singapore Chartered Accountants. Formed in September last year, the committee is responsible for carrying out the recommendations of the Accountancy Workforce Review Committee, which released a report in May to tackle manpower challenges in the profession.
Business Times
19-05-2025
- Business
- Business Times
Guidebook launched for sustainability reporting training providers
[SINGAPORE] Sustainability reporting training providers can now refer to a new guidebook to design their programmes and courses in a way that aligns with standards set out by the International Sustainability Standards Board (ISSB). Launched by the Accounting and Corporate Regulatory Authority (Acra) on Monday (May 19), the guidebook – which is called the Sustainability Reporting Body of Knowledge (SR BOK) – aims to provide essential knowledge areas on ISSB that training providers could use to develop programmes for professionals involved in sustainability reporting. In September last year, the Singapore Exchange Regulations mandated that listed companies in Singapore make climate-related disclosures aligned with the ISSB from this financial year. 'With an increasing number of companies progressively disclosing climate-related information to meet stakeholder expectations, Singapore will need to build a talent pipeline to meet the growing demand for professionals who can take on sustainability reporting-related roles,' said Acra. The guidebook aims to equip professionals with technical skills and competencies in greenhouse gas accounting, as well as sustainability and climate reporting, so that they would be able to take on roles as specialists in preparing sustainability reports. 'Training providers should refer to the SR BOK to design specialised courses. This will help ensure consistency in the depth of training programmes across different training providers,' Acra said. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up However, while the manual will serve as a foundation for providers to design their curricula, they have the flexibility to restructure the content and incorporate relevant topics to address specific learning needs. Case studies to demonstrate applications of key concepts will also be made available to training providers. Acra also said that it is working with SkillsFuture Singapore to provide funding support for training programmes aligned with the guidebook. Topics covered in the guidebook include materiality assessment, climate transition plans and assurance. Acra said that the training manual has been validated by more than 50 key industry stakeholders, including company preparers, assurance providers, professional bodies and training providers. Training providers such as the Institute of Singapore Chartered Accountants, as well as several institutes of higher learning, including the Nanyang Technological University and Temasek Polytechnic, have committed to align their training programmes with the guidebook. 'This alignment will strengthen the development of comprehensive training programmes to build capacity in sustainability reporting, creating a strong pipeline of professionals who can prepare climate-related disclosures and bolster Singapore's sustainability reporting ecosystem,' said Acra.
Arab News
03-05-2025
- Entertainment
- Arab News
Maya Acra on the Oscars and making space for Arab voices in Hollywood
DUBAI: Lebanese actress and comedian Maya Acra has spent years carving out her niche across Beirut and New York. This year, that journey reached a new milestone when 'Anora,' a film she appears in, won five Oscars, including Best Picture. But for Acra, the recognition is just one part of a much longer story. 'I was raised by 'Comedy Central' (and) … 'The Nanny.' Fran Drescher was my hero,' Acra told Arab News. Her early love of performance was sparked at home, where her father, a filmmaker, recorded endless hours of her childhood on VHS. 'Being in front of the camera has been my reality since I was a baby. I have hours of footage from my childhood, sometimes just talking endlessly like I was the host of my own show. Somehow that early lens shaped me,' she said. A post shared by Maya Akra (Acra) (@mayaacra) She began performing on stage at a young age, often drawing from real-life experiences marked by grief, resilience and reinvention. After building her career in Lebanon — working behind the scenes at MTV, acting in student films and her comedy sketches going viral — Acra moved to New York to pursue acting and stand-up full-time. Now part of the city's vibrant improv and comedy scene, she has performed at venues such as The Stand, Stand Up NY and Broadway Comedy Club. A post shared by Maya Akra (Acra) (@mayaacra) Her acting work includes short films, commercials and theater, often centered around stories of identity and migration. 'I'm drawn to stories that spotlight the emotional and cultural struggles of Arab immigrants,' she said. Acra is passionate about breaking the mold for Arab characters onscreen. 'Arab talent is slowly gaining more visibility in Western media… (but) the industry still has a long way to go. Too often, the roles offered to Arab actors are still limited to certain tropes, like the villain, the terrorist or the oppressed woman. A post shared by Maya Akra (Acra) (@mayaacra) 'We have so many untold stories that reflect the diversity and success of Arabs in America,' she added. While 'Anora' was not an Arab story, being part of an indie project that defied expectations — and that went on to sweep the Oscars — was a powerful moment for Acra. She had been invited to the ceremony but did not attend. A post shared by The Rebel Agency NY (@theerebelagencyny) 'I didn't even watch the ceremony. I had just moved into my apartment. I was in a really emotional place. I had just lost my aunt,' she recalled. 'Then suddenly, I got a message: 'You're featured in the Best Picture of 2024!' I was stunned. It felt completely surreal. I was so happy, and I couldn't stop smiling.' Looking ahead, Acra is focused on continuing to tell real, layered stories through both comedy and drama. 'I carry Lebanon with me into every room,' she said. 'I'll be at the Oscars when I win my own one day. I'm claiming that.'
