The Institute of Certified Public Accountants of Singapore (ICPAS) has launched a scheme that will enable unemployed mid-career jobseekers to join the accounting profession as accounts assistants.

The scheme, called Accounts Assistant Place-and-Train Programme, is funded by a governmental agency, which will offer participating firms allowances of up to 70% of the trainee’s monthly salary.

ICPAS explained the scheme awards successful candidates with the Certified Accounting Technician (CAT) qualification, which also provides trainees with the foundations to become professional accountants.

ICPAS chief executive Lee Fook Chiew pointed out many Singaporean firms are faced with a shortage of accounting technicians and added that the program "will re-train workers for new careers in the accountancy profession."

The Singaporean institute also assured the new scheme is another step towards the vision to transform Singapore into a global accountancy hub for the Asia Pacific by 2020.

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Institute of Certified Public Accountants of Singapore