The Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Singapore Chartered Accountants (ISCA), have signed a Memorandum of Understanding (MoU) whereby ICAEW will recognise ISCA members, provided certain requirements are met.
The MoU has set up a scheme by which Singapore accountants are eligible to attain ICAEW’s designation, known as Associate Chartered Accountant (ACA), if they have been full ISCA members for five years and if they have "relevant post-qualification experience", according to a joint statement of the institutes.
Eligible ISCA members need also to sit an "examination of experience" assessed and marked by ICAEW’s examiners, which is equivalent to the case study of ACA’s final examination, the institutes said.
"The prestigious Associate Chartered Accountant designation is globally recognised. Members who have both an ISCA and an ICAEW membership would have a strong competitive edge and greater career mobility worldwide," ISCA president Ernest Kan said.
ISCA awards the designation Chartered Accountant of Singapore, known as CA (Singapore), and as of January 2014 it has 28,000 members. ICAEW has more than 140,000 chartered accountants, of which almost 22,000 are based outside the UK.