The Institute of Singapore Chartered Accountants (ISCA) has announced that 47 of its members have received the ASEAN CPA qualification by the ASEAN Chartered Professional Accountant Coordinating Committee (ACPACC).

The Accountant understands that these along with 89 members of Thailand’s professional body are the first professional to receive the qualification.

The qualification was born out of the ASEAN Mutual Recognition Arrangement on Accountancy Services signed by all ASEAN trade Ministers in 2014 in order to facilitate mobility of accountancy services professionals across ASEAN member states and enhance the quality of accounting services in the region.

The applications for the ASEAN CPA title are handled by the respective country’s national accountancy body and at the moment only Singapore, Thailand, Laos and Malaysia have taken application from their members. Other countries are believe to be working on putting in place the procedures to receive application.

ISCA has chaired the ACPACC since 2015 and will pass on the chairmanship to Thailand in October of this year.

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By GlobalData