Latest news with #SCAQ
Business Times
03-08-2025
- Business
- Business Times
National accountancy body surpasses 40,000 members; president Teo Ser Luck sees 50,000 by end-2026
[SINGAPORE] Membership at the Institute of Singapore Chartered Accountants (Isca) has crossed the 40,000 mark, fuelled largely by a surge in student sign-ups. The national accounting body expects to reach 43,600 members by end-2025, up 11 per cent from 2024. The 30,000 mark was passed in 2016. Isca president Teo Ser Luck told The Business Times that the institute could hit 50,000 members by end-2026, although it has not set that as a formal target. 'We didn't set a target for 40,000 too – what we did was just to do our best to increase the membership,' said Teo. 'What we set as a target was that we must always have the pipeline of new joiners stronger than the charterholders' rate of retirement – I think (the retirement rate) is less than 1 per cent per year,' he added. Of the projected 43,600 members, around 10,000 will be student members – a 56 per cent increase from a year ago. 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 These students primarily hail from secondary schools, Institutes of Technical Education, polytechnics and universities in Singapore. More than 1,000 are foreign students from Isca's overseas chapters, primarily in China, Malaysia, Indonesia, Vietnam, Thailand and the Philippines. Isca only began promoting student membership in late 2024. Asked whether the overseas figure met internal expectations, Teo said: 'I would say I'm happy that this is just from less than one year's work, to have more than 1,000-plus (overseas student members) in that timeframe.' Student members may take up to 10 years to complete the Singapore Chartered Accountant Qualification (SCAQ) programme – the only route to becoming a Chartered Accountant (Singapore). The conversion rate – the proportion of student members who eventually complete the SCAQ – currently stands at 15 per cent. But Teo is more focused on tracking the number of active candidates in the programme. By end-2025, Isca expects the number of SCAQ candidates to hit 7,300, a 70 per cent increase from the previous year. Passing rates for the December 2024 SCAQ exams were 65 per cent for the foundation programme and 79 per cent for the professional programme. Teo expects these rates to remain stable, even with the surge in candidates. 'We even want the passing rate to go up, but we'll have to give a lot of support in supplementary classes through Isca Academy,' he said. Support measures include free, facilitated study sessions held two weeks before exams – one two-hour session per module each semester, amounting to 20 sessions a year. These are conducted both on-site at Isca House on Cecil Street and online for overseas students. Isca Academy, the institute's for-profit adult learning arm, was spun off and privatised earlier this year. Leadership appointments have since been made. Quek Mu Lim, formerly executive director at the Wealth Management Institute, is now chief executive officer of Isca Academy. Cyndi Pei, chief financial officer of Digital InfraCo at Singtel, has been named chairperson of the academy's board.
Yahoo
07-07-2025
- Business
- Yahoo
Celebrating the Future of Accounting - One Student at a Time
London School of Business & Finance Singapore Campus Recognised as ISCA Registered Learning Organisation SINGAPORE, July 7, 2025 /PRNewswire/ -- At the ISCA SCAQ Top Achievers & Partners Recognition Ceremony held on 13 May 2025, LSBF Singapore was recognised as an ISCA Registered Learning Organisation. The event brought together leading voices in the profession to celebrate the outstanding achievements of students in the Singapore Chartered Accountant Qualification (SCAQ) programme — and to honour the education partners shaping their journey. This recognition is more than a badge of honour — it's a reflection of LSBF's belief in the power of education, mentorship, and hands-on experience to transform aspiring accountants into confident, future-ready professionals. "We're deeply invested in the growth of our learners," said Yvonne Goh, Head of School of Professional Education, LSBF Singapore. "Whether in the classroom or through real-world exposure, our goal is to equip them not just with technical skills, but with the mindset to lead in a fast-changing world." Mr David Yeong, Head of ISCA Academy, said, "At ISCA, we believe that shaping the next generation of Chartered Accountants requires strong partnerships with Registered Learning Organisations (RLOs) who share our commitment of innovation and excellence. LSBF Singapore exemplifies this spirit through innovative teaching and dedicated support for students pursuing the SCAQ. We look forward to working together to nurture future Chartered Accountants and advancement of the accountancy profession." LSBF's SCAQ tutors, who joined the celebration, continue to play a vital role in delivering rigorous, relevant, and inspiring learning experiences. Together, LSBF is proud to support a new generation of Chartered Accountants who will drive progress in the industry. About London School of Business & Finance (LSBF) The London School of Business & Finance (LSBF), founded in 2003 and a member of the Global University System (GUS), serves over 25,000 students across more than 40 countries. With campuses in key cities including the UK, Singapore, and Malaysia, LSBF has expanded its international footprint, particularly in Asia. LSBF Singapore campus offers over 100 programmes in business, finance, law, hospitality, and technology, and collaborate with reputable universities to provide internationally recognised qualifications. LSBF holds EduTrust certification, partners with organizations like Grab, Deloitte and ISCA, and is an ACCA Approved Learning Partner. In recognition of its future-focused approach to education, LSBF was honoured with the Singapore Business Review's International Business Award in Education for two consecutive years – 2024 and 2025. These accolades reaffirm LSBF's commitment to delivering quality, industry-aligned education that empowers aspiring professionals globally. View original content to download multimedia: SOURCE London School of Business & Finance Singapore Campus
Yahoo
07-07-2025
- Business
- Yahoo
Celebrating the Future of Accounting - One Student at a Time
London School of Business & Finance Singapore Campus Recognised as ISCA Registered Learning Organisation SINGAPORE, July 7, 2025 /PRNewswire/ -- At the ISCA SCAQ Top Achievers & Partners Recognition Ceremony held on 13 May 2025, LSBF Singapore was recognised as an ISCA Registered Learning Organisation. The event brought together leading voices in the profession to celebrate the outstanding achievements of students in the Singapore Chartered Accountant Qualification (SCAQ) programme — and to honour the education partners shaping their journey. This recognition is more than a badge of honour — it's a reflection of LSBF's belief in the power of education, mentorship, and hands-on experience to transform aspiring accountants into confident, future-ready professionals. "We're deeply invested in the growth of our learners," said Yvonne Goh, Head of School of Professional Education, LSBF Singapore. "Whether in the classroom or through real-world exposure, our goal is to equip them not just with technical skills, but with the mindset to lead in a fast-changing world." Mr David Yeong, Head of ISCA Academy, said, "At ISCA, we believe that shaping the next generation of Chartered Accountants requires strong partnerships with Registered Learning Organisations (RLOs) who share our commitment of innovation and excellence. LSBF Singapore exemplifies this spirit through innovative teaching and dedicated support for students pursuing the SCAQ. We look forward to working together to nurture future Chartered Accountants and advancement of the accountancy profession." LSBF's SCAQ tutors, who joined the celebration, continue to play a vital role in delivering rigorous, relevant, and inspiring learning experiences. Together, LSBF is proud to support a new generation of Chartered Accountants who will drive progress in the industry. About London School of Business & Finance (LSBF) The London School of Business & Finance (LSBF), founded in 2003 and a member of the Global University System (GUS), serves over 25,000 students across more than 40 countries. With campuses in key cities including the UK, Singapore, and Malaysia, LSBF has expanded its international footprint, particularly in Asia. LSBF Singapore campus offers over 100 programmes in business, finance, law, hospitality, and technology, and collaborate with reputable universities to provide internationally recognised qualifications. LSBF holds EduTrust certification, partners with organizations like Grab, Deloitte and ISCA, and is an ACCA Approved Learning Partner. In recognition of its future-focused approach to education, LSBF was honoured with the Singapore Business Review's International Business Award in Education for two consecutive years – 2024 and 2025. These accolades reaffirm LSBF's commitment to delivering quality, industry-aligned education that empowers aspiring professionals globally. View original content to download multimedia: SOURCE London School of Business & Finance Singapore Campus Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
01-06-2025
- 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.'
Yahoo
17-05-2025
- Business
- Yahoo
ISCA announces new council members and performance highlights
The Institute of Singapore Chartered Accountants (ISCA) has revealed the election of four new members, the re-election of four current incumbents, and the appointment of two additional members to its council. This council is the governing body of ISCA tasked with making 'major' policy decisions and overseeing governance and membership matters within the institute. The newly-elected, re-elected and newly appointed council members are set to serve for a two-year term until 2027. Among the newly elected members are Ang Suat Ching, chief financial officer, Resorts World at Sentosa; Chin Chee Choon, audit and assurance partner, head of business development and Marcomm, Forvis Mazars Singapore; Lee Eng Kian, managing partner, PKF-CAP; Gajendran, assurance partner and professional practice director, EY. The re-elected members to the council are Lo Mun Wai, audit partner, KPMG; Judy Ng, group financial controller, DBS Bank; Cyndi Pei, chief financial officer, Digital InfraCo Singapore Telecommunications Limited (Singtel); Song Yeow Chung, chief financial officer, Old Chang Kee. The two new members appointed to the council are Esther Wee, accountant-general and chief of Government Finance, Accountant-General's Department (AGD); and Tan Boon Gin, chief executive officer, Singapore Exchange Regulation, SGX Group. During the annual general meeting (AGM), ISCA shared several updates from the past year. The Institute took over the administration of the Singapore Chartered Accountant Qualification (SCAQ) programme, resulting in a 47% increase in enrolments, it stated. It also maintained a 98.3% membership retention rate in 2024, the 'highest' in ten years, and ended the year with a $5.3m surplus, boosting its reserves to $113.8m. ISCA said it has kept membership fees stable for the eighth year in a row and expanded its global presence with 12 overseas chapters in nine countries along with four ISCA offices overseas. Looking ahead to 2025, ISCA stated that it plans to invest up to $7m in enhancing the SCAQ and furthering international growth. It also intends to acquire a second property valued at approximately $55m to strengthen its financial position. ISCA president Teo Ser Luck said, 'At this exciting time of strong growth and great potential for ISCA, I'm pleased that our valued members have elected a capable and experienced Council to lead us forward. The Council members bring with them many years of experience from a wide range of industries and sectors — including the public sector, accounting firms, listed companies, and more. Their diverse backgrounds will bring fresh ideas and new perspectives to help advance both ISCA and the accounting profession. Together with the Institute's senior management, we look forward to exploring new opportunities and making 2025 a year of meaningful progress, with new initiatives and key developments for ISCA. At the same time, we remain committed to supporting our members and delivering lasting value." In March 2025, the ISCA launched the SCAQ Career Mobility Programme (CMP) to facilitate cross-border work opportunities for accountants. "ISCA announces new council members and performance highlights" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
