The Institute of Singapore Chartered Accountants (ISCA) has signed a Memorandum of Understanding (MOU) with the Hong Kong Institute of Certified Public Accountants (HKICPA), its latest move to strengthen international collaboration and foster new opportunities for the accountancy profession in the Asia-Pacific region.

As leading international businesses and financial hubs, Singapore and Hong Kong accountancy professionals have played vital roles in driving the growth and development of businesses in their respective economies. Accountancy and finance leaders are relied upon for financial stewardship and corporate governance and they serve as strategic business advisors in ensuring the financial health of businesses, providing investors with confidence, while helping companies navigate through complex business environments. To be effective, accountancy professionals will need to keep pace with the evolving business landscape domestically and regionally, and prioritise professional development.

Under the MOU, the partnership between HKICPA and ISCA aims to advance the accountancy profession and provide upskilling opportunities for both current and aspiring accountancy professionals in Hong Kong and Singapore. ISCA and HKICPA members can also look forward to curate training programmes in relevant areas. In addition, the two organisations plan to conduct joint events, which members will be able to attend in both Singapore and Hong Kong, including facilitated networking sessions. Members of both Institutes can also anticipate membership pathway arrangements that will further strengthen their credentials.

The MOU was signed by ISCA chief executive officer, Fann Kor, and HKICPA chief executive and registrar, Margaret Chan. It was also witnessed by ISCA president, Teo Ser Luck, and HKICPA president, Roy Leung.

Commenting on this, Teo said: “We are honoured to count HKICPA among our distinguished partners, as we continue our journey to develop the accountancy profession internationally. Together with HKICPA, we look forward to elevating the industry and fostering the growth and competitiveness of our members in an increasingly interconnected global economy.”

Leung concluded: “This MOU signifies a milestone in our collaboration and sets the stage for greater co-operation. It reflects our shared vision of strengthening the accounting profession and creating value for our respective members. I am confident that this partnership will open up new avenues of growth, foster greater cooperation, and contribute to the continued success of our profession in both Hong Kong and Singapore, as well as contributing to the even closer ties between the two economies.”

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