PRESS RELEASE

15 April 2008

For immediate release

ICPAS and ICAEW to offer ACA qualification in Singapore

The Institute of Certified Public Accountants of Singapore (ICPAS) and the Institute of Chartered Accountants in England and Wales (ICAEW) have signed a memorandum of understanding (MoU) to offer the ICAEW’s internationally recognised Associated Chartered Accountant (ACA) qualification in Singapore.

The ACA, regarded worldwide as a leading financial business qualification, provides relevant and non-accounting graduates a pathway to the accounting profession. It also allows mid-year career switch for those considering accountancy as a career. More importantly, the offering of this qualification will help to address the short supply of accountants in Singapore.

This agreement between the two accountancy bodies will for the first time enable ICAEW’s ACA students to study for the qualification in Singapore. The two organisations will share information and experiences, and work together to produce qualified accountants that will play an important role in the future growth of the local economy and the development of the accountancy profession internationally.

As part of the strategic partnership between the two institutes, ICPAS will start ACA training from September 2008.

Commenting on the MOU, Mr Tan Boen Eng, President of ICPAS said: ”As part of ICPAS strategy to enhance the talent pool in Singapore, ICPAS is pleased to be able to offer this pathway to the accountancy profession.”

“We believe the ACA will provide an all-rounded training and prepare our students for the more demanding role of accounting professionals today.”

Raymond Madden, Executive Director Learning and Professional Development of the ICAEW, said at the signing of the MOU in Singapore:

“Singapore is becoming an increasingly important international financial centre and thus the need for highly skilled accountancy professionals with knowledge of international practices is growing.

“The ACA is a challenging qualification that requires a combination of work experience and exams, producing key skills for the region’s future business growth.”

– ENDS –

Media enquiries:

Catherine Chan
Communications Manager, Institute of Certified Public Accountants of Singapore
Tel: 6749 8060 Ext. 813
 Email: catherine.chan@icpas.org.sg

Simon Thompson

Media Relations, ICAEW

Tel: +44 207 920 8565

Mob:

Email: simon.thompson@icaew.com

Notes to editors:

 About Associated Chartered Accountant

The Associated Chartered Accountant (ACA) is a business and finance qualification that brings together technical knowledge, practical application, work experience and best practice, and attracts talented people from a variety of backgrounds. The training produces chartered accountants, auditors and business advisers who are valued in all sectors worldwide, from practice to commerce, industry and the public sector.

The qualification comprises of two stages: the Professional Stage and the Advanced Stage. The Professional Stage consists of knowledge modules which provide an introduction to the core concepts underpinning accountancy, and the application modules which demonstrate how this knowledge can be put into practice. The Advanced Stage consists of two integrated technical exams, requiring the student to apply their financial reporting, taxation, audit and assurance and ethics knowledge, and a case study.

About Institute of Certified Public Accountants of Singapore

Established in June 1963, the Institute of Certified Public Accountants of Singapore (ICPAS) is the national accountancy body that develops, supports and enhances the integrity, status and interests of the accountancy profession in Singapore.

The Certified Public Accountant Singapore (CPA Singapore) is a professional in accountancy, finance and business who has the relevant work experience in addition to a recognised accountancy qualification. They are highly versatile and well sought after as business leaders beyond the accountancy, banking and finance industries. Today, the Institute of Certified Public Accountants of Singapore (ICPAS) has 19,000 members and/or CPAs Singapore working and making their mark worldwide, which makes the CPA Singapore a designation with international recognition.

ICPAS’ international outlook and connections are reflected in its membership of regional and international professional organizations like the ASEAN Federation of Accountants (AFA), the Asia-Oceania Tax Consultants’ Association (AOTCA) and the International Federation of Accountants (IFAC).

The Institute also caters for the training and professional development of its members through regular courses conducted by its training arm, the Singapore Accountancy Academy (SAA).

About Institute of Chartered Accountants in England and Wales

As a world leading professional accountancy body, the Institute of Chartered Accountants in England and Wales (ICAEW) provides leadership and practical support to over 130,000 members in more than 160 countries, working with Government, regulators and industry in order to ensure the highest standards are maintained.

Our members provide financial knowledge and guidance based on the highest technical and ethical standards.  They are trained to challenge people and organisations to think and act differently, to provide clarity and rigour, and so help create and sustain prosperity.  The ICAEW ensures these skills are constantly developed, recognised and valued.

Because of us, people can do business with confidence.

The ICAEW is a founding member of the Global Accounting Alliance with over 700,000 members worldwide.