SINGAPORE - Media OutReach - 29 November 2023 - The Institute of Singapore Chartered Accountants (ISCA) announced the launch of the Professional Accountancy Hub (PA Hub).

The announcement was made by the Guest of Honour, Indranee Rajah, Minister in the Prime Minister’s Office, Second Minister for Finance, and Second Minister for National Development at the ISCA Conference.

As a catalyst for greater global collaboration between professional accountancy and business services organisations, ISCA has joined forces with 13 organisations to form the Professional Accountancy Hub (PA Hub).

The 14 founding members of the PA Hub are:

• Association of Chartered Certified Accountants (ACCA)

• Association of Certified Professional Accountants (AICPA-CIMA)

• Association of Singapore Listed Companies (SGListCos)

• Chartered Accountants in Australia and New Zealand (CA ANZ)

• Chartered Accountants Ireland (CAI)

• CPA Australia (CPAA)

• Chartered Secretaries Institute of Singapore (CSIS)

• Institute of Chartered Accountants in England and Wales (ICAEW)

• Institute of Chartered Accountants in India (ICAI)

• Institute of Chartered Accountants in Scotland (ICAS)

• Institute of Singapore Chartered Accountants (ISCA)

• Securities Investors Association Singapore (SIAS)

• The Institute of Internal Auditors Singapore (IIA Singapore)

• The Institute of Valuers and Appraisers Singapore (IVAS)

The PA Hub will enable a thriving and inclusive eco-system for the accountancy profession and the wider business community through strengthened collaborations between professional accountants, valuers, internal auditors, chartered secretaries, investors, and executives of listed companies. Collectively, this network is a community of over 3.6 million professionals in accountancy and professional services. Given the varied industries and roles of ISCA members, many currently hold multiple professional organisation membership.

By bringing together the plethora of resources, expertise, and networks of each partner, the PA Hub will create synergies, enable knowledge sharing through research and thought leadership, facilitate important dialogues on matters of the profession, and complement each institute’s efforts to nurture talent to build a strong talent pipeline. All this will be beneficial not just for members but also for the accounting profession and wider business community.

Of the 13 partners, ISCA has existing membership recognition arrangements with 5 professional accountancy institutes – CA ANZ, CAI, CPAA, ICAEW and ICAS. These membership recognition arrangements provide a pathway for ISCA members to be members of these institutes, and vice versa. ISCA is reinforcing the spirit of mutual collaboration by providing a 20% membership subscription fee subsidy to ISCA members who are applying to CA ANZ, CAI, CPAA, ICAEW and ICAS for their first-year annual membership subscription fee. We hope that this will encourage eligible ISCA members to take up multiple memberships with our partner institutes to strengthen their professional credentials.

ISCA President, Mr Teo Ser Luck said: "ISCA is proud to work with our partners and spearhead the establishment of the Professional Accountancy Hub, accelerating cooperation between professional accountancy and services organisations, especially those with a physical presence in Singapore. This highlights ISCA’s resolve to form a strengthened network for professional bodies and associations, collaborate with our peers, and share resources for the accountancy profession and professional services community in regulatory, technical, business and economic developments.”

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a world-class accountancy body of trusted professionals, contributing towards an innovative and sustainable economy. There are over 35,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.