The Institute of Singapore Chartered Accountants (ISCA) and the Institute of Chartered Accountants of India (ICAI) have agreed to strengthen collaboration on initiatives covering AI training and professional qualification recognition.
Under the expanded collaboration, the ISCA signed a letter of cooperation for a proposed Global AI Fluency Initiative based on its AI Fluency Programme.
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Subject to approvals and agreed implementation terms, the two accountancy bodies will provide practical and responsible AI learning to ICAI members and students.
The programme is expected to benefit the ICAI’s more than 1.5 million members and students.
The approximately 30-hour programme includes 180 workplace-based cases covering AI foundations, accounting specialisations, and AI leadership and governance.
The approach will help professionals identify exactly where AI adds value while ensuring they maintain strict professional judgement, oversight and responsibility for their work, the ISCA said in a statement.
Both institutes will collaborate to promote these AI programmes globally across their member networks and exchange practical use cases in accounting, audit, finance and tax.
The initiative also focuses on sharing governance frameworks for responsible AI adoption and developing joint thought leadership to drive continuous professional capability.
ISCA president Lee Boon Teck said: “AI is reshaping the accountancy profession and building AI fluency alongside strong professional expertise will be critical to enabling the profession to adapt and create greater value.
“Through the proposed Global AI Fluency initiative, we hope to share Singapore’s experience in practical and responsible AI capability development with a wider professional community and contribute to responsible AI adoption across the global accountancy profession.
“Our long-standing relationship with ICAI also provides opportunities to strengthen the recognition of relevant professional learning and reduce extent of duplication for qualified professionals.”
Separately, the ISCA has approved a proposed module exemption agreement with the ICAI.
The arrangement would provide specified exemptions for eligible members under the respective qualification pathways.
The agreement has not yet been formally executed.
The ISCA will, however, implement the specified exemptions from the Singapore Chartered Accountant Qualification for eligible ICAI members from 21 August 2026.
The initiatives build on the long-standing relationship between the two institutes.
ICAI president Prasanna Kumar D said: “The exchange of letters between ICAI and ISCA on 21 August marks a defining step in our shared journey and a clear statement of intent to work towards strengthening recognition between our professional qualifications.
“For our members, this opens up the potential for greater opportunities and professional recognition. At the same time, our discussions on AI capability building reflect our shared commitment to strengthening AI capabilities across the profession.”
Last month, the ISCA and IMDA launched AIxAccountancy, an AI fluency programme for the accounting and corporate finance sectors.
