I have copied paste the conversation btwn one forumer with SQP as below. I think even we are able to convert CPA to CA, it's just in name and no substance. So we will not be entitled to all the benefits of CA.
3 What? But I am already a CPA Singapore. In this case, are you saying that I still have to go through the QP programme again to get the designation of CA of Singapore?
No. In this case, existing CPA Singapore are known as “grandfathers”. You will be granted automatic transition to becoming CA Singapore. However, please take note that while you are CA Singapore in name, in substance, you will not be entitled to the global affiliation with other professional bodies that SAC is actively seeking link-ups with. In short, if you want to be a CA Singapore and cite yourself as also an ICAEW member in future, you need to go through the Singapore QP to get that official CA Singapore status to enjoy those link-ups that SAC manages to secure.
By bringing ICAEW into the picture, I finally understand why they abandon ACCA and their students....
So basically, they want to tie-up with ICAEW and bring 'higher' quality accountants with a 'proper' degree rather than 'lower' quality ACCA graduates.......
And to make it 'fair' to these ICAEW graduates who studied for a 'proper' degree prior to taking ICAEW, they are withdrawing the progression structure for ACCA.....
SO, looking at things now, I would advice anyone prudent to not sign up for ACCA if you have higher ambitions. It is not worth the time studying and the money 'wasted' if your aim is to be a recognised Chartered Accountant.