26 July 2023
ISCA, a leading professional body with 33,000 members, drives accountancy’s evolution, embracing AI and global connectivity.
The Institute of Singapore Chartered Accountants (ISCA) commemorates its 60th anniversary with a grand celebration, honoring esteemed individuals who have made significant contributions to the accountancy sector and the broader community.
Eight luminaries have been bestowed with the prestigious title of “ISCA Distinguished Lifetime Members.” The ISCA Distinguished Lifetime Membership is a coveted accolade reserved for individuals who have demonstrated exceptional dedication to the accountancy sector, the business community, and public service. The inaugural recipients of this esteemed honor are Mr. Boon Swan Foo, Mr. Willie Cheng, Mr. Bobby Chin, Dr. Gerard Ee, Mrs. Fang Ai Lian, Ms. Grace Fu, Ms. Euleen Goh, and Mr. Michael Lim Choo San. Each of these honorees stands as a trailblazer and an illustrious business leader, having left an indelible impact on Singapore’s accountancy and business sectors.
At a lavish gala dinner, the ISCA also recognized the outstanding contributions of Mrs. Lim Hwee Hua, former Second Minister for Finance, and Mr. Chaly Mah, former Chairman of the Singapore Accountancy Commission, with the prestigious ISCA Special Appreciation Awards for their remarkable contributions to the accountancy profession in Singapore.Ms. Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and National Development, was bestowed an honorary membership of ISCA in recognition of her significant contributions to the accountancy sector and the broader business community.
Deputy Prime Minister, Mr. Lawrence Wong, graced the event as the Guest of Honour and presented the accolades to all recipients, except for Ms. Euleen Goh, who was unable to attend the ceremony.
ISCA’s Evolution and the Accountancy Profession’s Transformation
From its humble beginnings in 1963 with just 11 founding members, ISCA has evolved into a professional body comprising over 33,000 members who hold diverse roles across various industries. As a member of Chartered Accountants Worldwide, ISCA is interconnected with a global community of over 1.8 million Chartered Accountants and students spanning across more than 190 countries.
Over the decades, ISCA has focused on strengthening its infrastructure, enhancing its technical capabilities, expanding member outreach, and establishing a significant global presence. These efforts were all in service of its members and the accountancy profession. ISCA’s evolution has been in sync with the dynamic transformation of the accountancy sector, which has evolved from traditional bookkeeping to strategic business advisory roles, championing sustainability initiatives, and embracing the potential of artificial intelligence.
The Vital Role of the Accountancy Profession in Singapore
The accountancy profession plays a pivotal role in sustaining Singapore’s business and financial sectors. Accountancy professionals are integral to upholding the nation’s economic development, ensuring stability, and reinforcing Singapore’s position as a prominent global financial center and business hub.
ISCA President, Mr. Teo Ser Luck, expressed his gratitude, stating, “On this milestone moment, we would like to shine a light on our members who have supported ISCA all these years, as well as recognize distinguished individuals who have opened new horizons for the profession and the business community. Without their ground-breaking efforts, the accountancy sector would not be what it is today. They have blazed a trail for the accountancy profession and serve as inspirational role models for future generations of accountancy professionals.”
Looking Towards the Future
Mr. Teo highlighted the dynamic nature of the accountancy profession and outlined ISCA’s vision for the future. The institute envisions establishing a professional services hub, providing a comprehensive one-stop platform for the professional services community. Additionally, ISCA aims to expand its international presence by setting up more overseas chapters as part of its internationalization plan. Furthermore, the institute aims to champion the adoption and usage of artificial intelligence in the accountancy industry, embracing cutting-edge technology for the benefit of its members and stakeholders.
As ISCA celebrates its diamond anniversary, the institute looks back on its remarkable journey while looking forward to embracing new opportunities and challenges in the ever-evolving landscape of the accountancy profession.
