SINGAPORE – Media OutReach – October 6, 2023 – The Institute of Chartered Accountants of Singapore (ISCA) and CPA Australia have signed a Mutual Recognition Agreement (MRA). The MRA offers ISCA members the opportunity to become members of CPA Australia, and vice versa.
Professional accountants are highly valued by businesses and are in high demand around the world. As businesses become more global, organizations frequently move their finance and accounting executives to key positions in multiple regions. This MRA thus facilitates the mobility of talents within the global accounting profession.
The MRA was signed by Ms Fann Kor, Managing Director of ISCA, and Mr Andrew Hunter, Managing Director of CPA Australia. Mr Teo Ser Luck, President of ISCA, and Ms Merran Kelsall, Past President and Chair of the Board of Directors of CPA Australia attended the meeting.
Under the MRA, ISCA members can apply to become members of CPA Australia without having to complete any additional professional or educational requirements. To be eligible, the ISCA member must be a CA (Singapore), have completed the Singapore CA qualification and be an ISCA member for five consecutive years.
CPA Australia members seeking membership in ISCA must have completed the Chartered Accountant (CPA) program, the Singapore Chartered Accountant Qualification (SCAQ) module of the Integrative Business Solutions program and other applicable qualifications and experience for be eligible under the MRA.
To reach this agreement, ISCA, CPA Australia and the Accounting and Corporate Regulatory Authority (ACRA) conducted a review of the qualification requirements for education, examination, practical experience, professional standards and regulations of the two professional accounting bodies. This involved assessing the equivalence between the Singapore Chartered Accountant (SCAQ) qualification and the CPA program, as well as the ISCA and CPA Australia membership requirements to access the MRA.
Mr Ong Khiaw Hong, Chief Executive Officer of the Accounting and Business Regulatory Authority (ACRA), said: “We congratulate ISCA and CPA Australia on signing the Mutual Recognition Agreement. We look forward to this mutually beneficial collaboration which will improve the flow of accounting talent between our countries.”
Ms Kor said: “We are pleased to sign this agreement with CPA Australia. This agreement reflects our commitment to improving the global mobility of our members and strengthens ISCA’s position as a globally recognized professional accounting body. Together with CPA Australia, we aim to create new opportunities for our members, promote knowledge sharing and contribute to the continued growth and success of the global accounting profession.
Mr Hunter added: “We are delighted to partner with ISCA on this mutual recognition agreement as it brings immense benefits to members of both organizations in their professional journeys. This marks an important milestone in our commitment to charting a path to greater opportunities and fostering professional development. growth, all driven by our commitment to excellence in the accounting profession.
For more information and to apply for MRA membership, ISCA and CPA Australia members can visit the following websites.
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