http://www.channelnewsasia.com/news/singapore/more-pathways-for-skilled/2254514.html
SINGAPORE
More pathways for skilled professionals to enter accountancy sector
The increased pathways aim to address the shortage of skilled accountancy and finance personnel, says the Institute of Singapore Chartered Accountants.
By Linette Lim
Posted 12 Nov 2015 20:12 Updated 12 Nov 2015 23:18
SINGAPORE: To help address the shortage of skilled accountancy and finance personnel in Singapore, the Institute of Singapore Chartered Accountants (ISCA) will create more pathways for people to enter the accountancy profession.
The changes are also in line with the Government's SkillsFuture initiative, said ISCA. The changes, announced at the Singapore Accountancy Convention on Thursday (Nov 12), include creating a new affiliate membership class that enables non-graduates to become members, expanding associate membership to accountancy graduates from eligible foreign universities, and introducing a new accredited accounting technician diploma in partnership with the UK-based Association of Accounting Technicians.
Even as the national accountancy body moves to widen the talent pipeline in Singapore, the Ministry of Finance said the sector needs to keep up with changes arising from technological advances and evolving business needs.
"Auditing is important ... it remains the bedrock of the accountancy business,” said Ministry of Finance’s Permanent Secretary Lim Soo Hoon. “However, with the new audit exemption threshold which came into force in July 2015, smaller audit firms need to come up with new business models and pursue new and more sustainable revenue streams apart from audit.”
Ms Lim was the keynote speaker at the Singapore Accountancy Convention.
