SINGAPORE – Media OutReach Newswire – January 12, 2024 – As part of the pipeline of initiatives to increase accessibility to the Singapore Chartered Accountant (SCAQ) qualification, the SCAQ program exam fees will be reduced from June 2024 .
The SCAQ program is the national Chartered Accountant qualification program which confers the prestigious Chartered Accountant of Singapore (CA Singapore) designation. The SCAQ is a globally recognized program, with a curriculum that imparts up-to-date technical skills and weaves interdisciplinary elements to develop accounting leaders with an international perspective.
Talent Pipeline for Chartered Accountants
ACRA and ISCA have worked with key industry players and members of academia under the auspices of the Accountancy Workforce Review Committee (AWRC) to strengthen our talent pipeline for the accounting profession, which is very in demand across many industries, including new areas like sustainability reporting and financial forensics. The committee is co-chaired by former Chairman of the Accounting Commission of Singapore, Mr Chaly Mah, and Second Permanent Secretary of the Ministry of Finance, Ms Lai Wei Lin. In line with the work of the AWRC, in November 2023, ACRA announced two enhancements to the SCAQ to enable people from diverse backgrounds to pursue the SCAQ qualification.[1]. To better leverage the synergies of ISCA’s work to advance the accounting profession, the SCAQ has been administered by ISCA on behalf of ACRA since January 1, 2024.
The fee revision is part of the joint efforts of ACRA and ISCA to further improve the accessibility of the SCAQ and attract more people to take up the SCAQ in order to build a sustainable talent pipeline for the accounting profession. Over the years, as the program gained notoriety, so did enrollment. Thanks to better economies of scale, ACRA and ISCA were able to reduce the various SCAQ fees – examination fees, retake fees and exemption fees – for the Foundation program and the SCAQ professional program to from June 2024.
In addition to the fee review, a new ‘student’ fee category has also been introduced for module exam fees, to encourage students to begin their SCAQ journey whilst pursuing their tertiary university qualifications, in order to get their CA designation sooner.
The revised fees (before GST) are as follows:
| Original fees |
Revised fees
(for exams from June 2024) |
||
|
Student
(New category) |
Non-student | ||
|
Foundation Program (FP) module exam fees |
$500 |
$300 |
$375 |
|
Professional Program (PP) Module Exam Fee |
$1,300 |
$700 |
$975 |
|
FP module re-registration fees |
$500 |
$200 |
|
|
PP module re-registration fees |
$1,300 |
$500 |
|
|
FP module exemption fees |
$500 |
$200 |
|
|
PP module exemption fees |
$1,300 |
$500 |
|
Candidates interested in taking the SCAQ exams can apply for the June 2024 exams from January 15, 2024 to March 31, 2024.
ACRA Director General, Mr Ong Khiaw Hong, said: “The fee review will make SCAQ accessible to more talent to contribute to the creation of a sustainable talent pipeline for professional professionals. accounting in Singapore. We will continue to work with ISCA to review the SCAQ to ensure it remains relevant and engaging.
In addition, ISCA will also put in place measures to improve learning support for SCAQ candidates. ACRA will continue to oversee the SCAQ program and work with ISCA to develop the SCAQ and provide supportive pathways for individuals interested in pursuing an accounting profession.
As of January 1, 2024, ISCA will take charge of the administration of the SCAQ and will put in place measures aimed at strengthening learning support for SCAQ candidates. ACRA continues to oversee the SCAQ program and works with ISCA to develop the SCAQ and provide suitable pathways for those interested in pursuing an accounting profession.
ISCA President, Mr. Teo Ser Luck, said: “We have already established several initiatives, including a dedicated SCAQ center which will provide a conducive learning space as well as learning support for our SCAQ candidates. assistance to students in need and a pilot collaboration with local universities to provide sponsored courses to undergraduate accounting students to accelerate their SCAQ journey.
[1] Improvements to the SCAQ program include: 1) an increase in the length of practical experience recognized for the purposes of the “relevant practical experience component” that counts towards the SCAQ program, and 2) enhanced pathways to the SCAQ for local polytechnic graduates. More information can be found at
The ACRA website.
Hashtag: #ISCA #Accounting #SCAQ #ACRA
The issuer is solely responsible for the content of this announcement.
