The Institute of Singapore Chartered Accountants (ISCA) has formalised a memorandum of understanding (MoU) with the Shanghai Institute of Certified Public Accountants (SHICPA) for the international development of the accountancy profession.

The partnership also aims at fostering collaboration between the accounting sectors in Singapore and China.

This agreement seeks to advance the accounting profession in both regions, with an emphasis on improving the professional skills of accountants and aligning practices with international standards.

As part of the initiative, ISCA and SHICPA will coordinate a delegation of more than 20 accounting professionals from Shanghai to participate in the “Singapore Intensive Training Programme” hosted by ISCA.

This programme is intended to develop the professional capabilities and global perspectives of the attendees while facilitating exchanges in the financial and accounting sectors between the two countries.

Additionally, the collaboration aims to promote cultural integration and the enhancement of soft skills, which are vital for supporting cross-border investment and contributing to global sustainable development objectives.

The MoU is part of ISCA’s broader strategy to expand its international reach and collaborate with various professional accountancy organisations and academic institutions globally.

ISCA vice-president Judy Ng said: “This collaboration with SHICPA reflects ISCA’s ongoing commitment to raising professional standards and strengthening global ties within the accountancy profession.

“By sharing knowledge and expertise across borders, we not only support the development of individual professionals, but also contribute to the resilience and competitiveness of our firms and economies.”

Earlier in 2025, ISCA also signed agreements with Xi’an Jiaotong-Liverpool University and Nanjing University of Finance & Economics.

This partnership with SHICPA signifies a notable step towards enhancing cooperation and knowledge exchange between Singapore and China, both of which play significant roles in the global financial landscape.

SHICPA vice-president Fang Yifeng said: “We are pleased to partner with ISCA to offer our members the opportunity to gain global perspectives and practical insights in Singapore.

“This programme represents a meaningful step in strengthening people-to-people ties and fostering professional exchange between Shanghai and Singapore, which are both important financial centres in the region.”