The Institute of
Certified Public Accountants of Singapore (ICPAS) has established a
Members’ Development Fund (MDF) to encourage its members to seek
further professional development.

The MDF will cover
training costs and offer assistance to accountants who wish to
strengthen their expertise.

ICPAS said the MDF’s
initial seed funding is $500,000 is aimed at supporting talent
development as the profession as Singapore works towards
transforming into a leading global accountancy hub for Asia-Pacific
by 2020.

ICPAS members will be
granted training courses conducted by the institute that will
include ethics, assurance and financial reporting.

“The profession is
ever-evolving to meet the demands of the marketplace, especially in
these times when financial regulatory requirements are growing in
complexity. It is imperative for accounting professionals to keep
up to date on the latest developments in the profession and acquire
the relevant skill sets” ICPAS president Ernest Kan