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ISCA becomes first accountancy body in Asia Pacific to be full member of Chartered Accountants Worldwide

Last Updated Jul 2017

The South African Institute of Chartered Accountants (SAICA) welcomes the Institute of Singapore Chartered Accountants (ISCA) as a full member of Chartered Accountants Worldwide (CAW).

SAICA is one of the five founding members of CAW, founded in 2013, with Chartered Accountants Australia and New Zealand, The Institute of Chartered Accountants in England and Wales (ICAEW), Chartered Accountants Ireland, and the Institute of Chartered Accountants of Scotland (ICAS).

ISCA is the first professional accountancy body in Asia Pacific, and the only body other than the founding members of CAW to be accorded full membership status.

While ISCA became an associated member of CAW in 2015, full membership status is only accorded to accountancy bodies which have reciprocal membership agreements (RMA) in place with at least two of CAW founding members. ISCA signed RMAs with ICAEW and ICAS respectively in April 2017.

Within the CAW network, there are chartered accountants working in over 180 countries globally. With ISCA, the national accountancy body now a full member of CAW, chartered accountants of Singapore (CA (Singapore)) will be connected to a global network, enhancing their professional stature and employability in a globalized business world.

In April this year, ISCA raised its global profile when it signed RMA with ICAEW and ICAS, two internationally recognized professional accountancy bodies. The RMAs enable eligible ISCA members to pursue ICAEW’s associate chartered accountant designation or ICAS’ chartered accountant designation without having to fulfill additional professional or educational requirements. To be eligible, the ISCA member must be a CA (Singapore) and has completed the Singapore CA Qualification. Similarly, members of ICAEW and ICAS can apply to become a full member of ISCA and be conferred the CA (Singapore) designation.

Mr Lee Fook Chiew, Chief Executive Officer of ISCA, said “Being conferred full membership status by this prestigious global body is an endorsement by CAW that ISCA fulfills the highest professional, technical and ethical standards required of a professional accountancy body, bringing us on par with other leading chartered accountancy bodies around the world. This accolade enhances our prominence in the global accountancy arena, thereby bringing more international opportunities for chartered accountants in Singapore.”

“We are also delighted to be able to open more doors for ISCA members by providing greater career mobility and international recognition through collaboration with other leading institutes of chartered accountants. The recent signing of the RMAs is one example. We looking forward to working more closely with the other CAW members to support, develop and promote chartered accountants in Asia, and the rest of the world,” he said.

Mr Pat Costello, Chairman of CAW, said: “We are delighted ISCA has become a full member of CAW. This is an important development for ISCA and marks a significant milestone for the profession. ISCA has set a great example in promoting the prestige of CA and the value they can offer to their organisations, and is one which we hope other chartered accountancy institutes will follow in due course.”

Dr Terence Nombembe, Chief Executive Officer of the SAICA said: “We congratulate ISCA on achieving full membership status of CAW. This achievement will position ISCA to further play a pivotal role in developing the chartered accountancy profession in the region as well as to continue to provide ongoing support for the chartered accountants who are members of other chartered institutes resident in Singapore.”

Media enquiries:

Chartered Accountants Worldwide

Contact Magdalena Andrzejewska on +44 (0)20 7920 8718 or email Magdalena.Andrzejewska@icaew.com

Institute of Singapore Chartered Accountants

Betsy Tan, Senior Communications Manager

Tel: +65 6597 5608 / +65 9641 6920 Email: betsy.tan@isca.org.sg

Eileen Khoo, Communications Executive

Tel: +65 6597 5609 / +65 9221 9820 Email: eileen.khoo@isca.org.sg

SAICA Media Contact:

Kulani Chauke

011 479 0698

Communication Coordinator: Corporate

SAICA Communications & Marketing Division

kulanic@saica.co.za

Notes to editors:

  • About Chartered Accountants Worldwide

Chartered Accountants Worldwide brings together the leading chartered institutes to support, develop and promote the vital role that Chartered Accountants play throughout the global economy. Connecting hundreds of thousands of members and students, we:

  • Promote the commitment of our global membership to the highest standards of professional and ethical practice
  • Create greater opportunity globally for those seeking to become or develop as Chartered Accountants – and those looking to train or employ them
  • Share expertise and innovation to maintain Chartered Accountancy’s position as the preeminent qualification for those in accountancy, finance and business.

Together, we’re committed to ensuring that our members continue to stand apart – defining excellence throughout their career, throughout the world.

  • About the Institute of Singapore Chartered Accountants

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community. There are over 32,000 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. Possessing a Global Mindset, with Asian Insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards Singapore’s transformation into a global accountancy hub.

ISCA is the Administrator of the Singapore CA Qualification and the Designated Entity to confer the Chartered Accountant of Singapore - CA (Singapore) - designation.

ISCA is a member of Chartered Accountants Worldwide (CAW). CAW brings together 11 chartered accountancy bodies connecting and representing the interests of over 1.6 million members and students globally.

For more information, visit www.isca.org.sg.

  • About SAICA

The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 41 000 members and associates who are chartered accountants [CAs(SA)], as well as AGA(SA) and AATs(SA), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.

 
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