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Singapore aligns qualification with ICAEW

The Singapore Accountancy Commission (SAC) and the Institute of Chartered Accountants in England and Wales (ICAEW) have signed a Memorandum of Understanding (MoU) whereby both institutes agree to partial mutual credit recognition of their respective qualifications.

Under the terms of the MoU, the mutual recognition is related to two modules of the SAC's Singapore Qualification Programme (QP) and the ICAEW's Associate Chartered Accountant (ACA) qualification.

As a result, ACA and QP candidates will gain exemptions in each other's qualifications for their respective modules dealing with financial reporting and audit and assurance.

SAC chief executive Uantchern Loh noted the MoU is a "milestone for the Singapore QP in view of the relatively short period of time since its launch" last year in June.

The MoU will run on a three year renewable term, and retrospective credits will be given to ICAEW candidates who have successfully completed those modules, according to the institutes.

Related links

The Institute of Chartered Accountants of England and Wales

The Singapore Accountancy Commission

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