Singapore, September 4, 2024 – ACCA (the Association of Chartered Certified Accountants) is commemorating 88 years of significant contributions to Singapore’s accountancy profession this year. Since its establishment in 1936, ACCA has been instrumental in nurturing future accountants across various industries, offering ongoing support to qualified professionals with insights and advocating for a sustainable future for both businesses and the environment. ACCA’s long-standing presence has been vital in the growth and evolution of the accountancy sector in Singapore.
Key Milestones Over the Years
Since its inception, ACCA members and advocates have introduced numerous initiatives that have had a lasting impact. In 1983, ACCA collaborated with the Institute of Certified Public Accountants of Singapore (now known as ISCA) to launch the Joint Examination Scheme, providing Singapore’s accountants with access to the globally recognised ACCA qualification. In the early 2000s, ACCA also led the way with the Singapore Environmental Reporting Awards, encouraging businesses to focus on sustainability long before it became a common practice.
Additionally, ACCA Singapore has hosted several international and regional conferences over the years, including the ASEAN Conference in 2016, the International Public Sector Conference in 2018, and the ACCA Regional Conference in 2020. In 2014, ACCA celebrated the enrolment of its 50,000th future member from ASEAN, with the individual hailing from Singapore.
This year, ACCA is celebrating a remarkable milestone of 252,500 members and over 526,000 future members worldwide, reflecting the organisation’s global influence and the significant contributions made by its members across 180 countries.
A Bold Strategy to Lead the Profession in a Changing World
Earlier this year, ACCA introduced its new corporate strategy, aimed at positioning the organisation to lead the accountancy profession in an increasingly dynamic world. This strategy focuses on four key outcomes: driving career success, amplifying impact, building sustainable value, and redefining the role of the accountant.
These themes reflect the evolving nature of the profession and align with the Singapore government’s emphasis on upskilling and reskilling the workforce. As technologies like artificial intelligence continue to shape the workplace, and as sustainability becomes an integral aspect of global business, ACCA is committed to working with key stakeholders to equip accountants with the skills needed to thrive in the future.
As part of its efforts to redefine the role of the accountant, ACCA will be launching a new Professional Diploma in Sustainability at the end of this month. This pioneering qualification will empower accountants to become leaders in the field of sustainability, focussing on areas such as reporting and assurance, ethics, and strategy.
Strengthening Partnerships with Singapore’s Accountancy Stakeholders
To mark this milestone, ACCA Singapore has organised a series of events this week, engaging members, approved employers, and industry stakeholders. These activities were led by ACCA Chief Executive, Helen Brand, who was in Singapore to meet with key government officials and representatives from the Economic Development Board, Ministry of Finance, the Accounting and Corporate Regulatory Authority (ACRA), and the Institute of Singapore Chartered Accountants (ISCA).
On 2 September, ACCA hosted a roundtable discussion with industry leaders to explore what it means to be a professional accountant in today’s world. The discussion included insights from Vincent Lim FCCA, Managing Partner at Eco Sustainability Group, and Daryl Wang, Associate Partner at EY. Key topics included how the profession can attract a more diverse talent pool and how to better inform parents about the value of an accountancy career.
The following day, on 3 September, ACCA Singapore celebrated its 88th anniversary with a gala dinner attended by 300 stakeholders, including the Guest of Honour, Mr Murali Pillai, Minister of State for Law and Transport, along with Ms Chia-Tern Huey Min, Chief Executive of ACRA, Mr Teo Ser Luck, President of ISCA, and Mr Ng Wai Choong, CEO of the Inland Revenue Authority of Singapore (IRAS).
During the event, ACCA signed a Memorandum of Understanding (MoU) with the Information Systems Audit and Control Association (ISACA), agreeing to collaborate on areas such as technology, governance, cybersecurity, and internal controls. A second MoU was signed with the Stewardship Asia Centre, reinforcing their joint commitment to leadership in corporate stewardship, sustainability, and governance.
Helen Brand, ACCA Chief Executive, remarked, “This anniversary is a significant milestone for ACCA in Asia. When we began in Malaya in 1936, it was the first time ACCA established a presence on this continent. Over the years, Singapore has become a shining example for other nations. Our members have played a key role in the country’s growth, and we are confident they will continue to contribute towards building a healthy, sustainable society.”
Looking Ahead
Upcoming events also include the ACCA Singapore Technical Symposium on 24 September, the ACCA Global 120th Anniversary Evening on 3 December, and the ACCA Members’ and Affiliates’ Achievement Evening in November.
Reflecting on ACCA’s 88 years in Singapore, Daniel Leung, Country Manager of ACCA Singapore, shared, “I am immensely proud of the impact ACCA has made on the accountancy profession here. While much has changed since we first arrived in 1936, developing professional accountants and facilitating global mobility remain at the heart of our mission. We look forward to many more exciting years ahead.”
