The Institute of Singapore Chartered Accountants (ISCA) has backed measures announced in Singapore’s Budget 2026, saying they underscore the accountancy profession’s national role.
The institute regards the Budget as a signal for accountants to take on a stronger role in keeping businesses resilient, well governed and prepared for long-term expansion.
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Its response draws on recent ground engagements conducted with the Association of Small and Medium Enterprises (ASME), which pointed to mounting pressures on practices and professionals.
From these sessions, the ISCA and ASME found that 98% of respondents anticipate disruptions in their industries due to global political and trade developments.
Around 57% identified job displacement as their top AI-related concern.
Against this backdrop, the ISCA views Budget 2026 as “a pragmatic step that strengthens Singapore’s longer-term foundations while providing targeted support for enterprises and workers”.
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By GlobalDataBudget 2026 strengthens support for companies to manage costs and expand overseas through measures such as corporate tax rebates and enhanced internationalisation schemes.
It also boosts support for mid-career workers and seniors via improvements to the SkillsFuture Level-Up Programme, aligning with the ISCA’s S$2m ($1.58m) Career Support Programme.
On sustainability, Budget 2026 extends the Energy Efficiency Grant and continues green loan support.
The ISCA noted that the national agenda now places greater emphasis on building AI capabilities, with plans to accelerate role-based AI skills throughout the workforce.
The accountancy profession has been identified as one of the first non-technology sectors to develop practical AI skills under the expanded TechSkills Accelerator, which the ISCA says reflects the “growing importance of role-based AI skills in professional work”.
To support this transition, the ISCA is working with the Infocomm Media Development Authority on an AI Fluency Programme for accountancy professionals.
The ISCA has committed S$1m from its AI for the Accountancy Industry initiative fund to back the programme.
The programme will be offered without charge to Singaporean and permanent resident professional accountants working in Singapore and is expected to reach the country’s 120,000-strong accountancy sector.
ISCA president Teo Ser Luck said: “Budget 2026 reflects the realities businesses and professionals face today.
“The strong push on AI, workforce upgrading, enterprise competitiveness and internationalisation will help companies stay resilient. AI will enhance the role of accountants.”
