The Institute of Singapore Chartered Accountants (ISCA) and The Institute of Chartered Accountants of India (ICAI) are expanding their longstanding partnership through two initiatives aimed at strengthening AI capabilities among accounting professionals and improving recognition of professional qualifications.
Singapore, August 21, 2026 — ISCA has signed a Letter of Cooperation with ICAI to establish a framework for a proposed Global AI Fluency Initiative, centred on ISCA’s AI Fluency Programme. The collaboration will explore opportunities to make practical and responsible AI learning available to ICAI members and students, subject to the required approvals and mutually agreed implementation arrangements.
ISCA has also approved a proposed Module Exemption Agreement (MEA) with ICAI concerning their respective professional qualification pathways.
Expanding Singapore-developed AI capabilities
The proposed AI partnership builds on the early progress of ISCA’s AI Fluency Programme. Through the initiative, ISCA and ICAI will explore ways to extend the programme to ICAI’s professional community of more than 1.5 million members and students, increasing the international reach of Singapore-developed AI training for the accountancy sector.
The approximately 30-hour programme features 180 practical, hands-on cases drawn from workplace scenarios and is structured across three key areas:
- AI Fluency Foundations: Developing confidence in using AI for everyday professional tasks;
- AI for Accounting Specialisations: Exploring AI applications across accounting, audit, finance, tax and related functions; and
- AI Leadership & Governance: Building the skills required to oversee AI adoption with appropriate governance and professional responsibility.
The programme takes a practical approach, helping participants recognise where AI can deliver value while maintaining professional judgement, oversight and accountability.
The proposed cooperation will cover several areas, including:
- Programme promotion: Exploring mutually agreed approaches to promote each institute’s AI programmes to their respective members;
- Member engagement: Promoting the AI Fluency Programme to ICAI members in India and, where appropriate, its international network;
- Professional applications: Sharing perspectives and practical use cases for AI across accounting, audit, finance, tax and related areas;
- AI leadership and responsible adoption: Exchanging views on governance, oversight and responsible implementation of AI within the profession; and
- Knowledge exchange: Identifying further opportunities for thought leadership, professional education and AI capability development.
Enhancing professional recognition
ISCA has also approved a proposed Module Exemption Agreement with ICAI. The arrangement is intended to provide specified exemptions within the respective qualification pathways for eligible ICAI and ISCA members, helping to improve recognition between the two professional qualifications.
Although the MEA has not yet been formally executed, ISCA will introduce the specified exemptions from the Singapore Chartered Accountant Qualification (SCAQ) for eligible ICAI members from 21 August 2026. Candidates will still need to satisfy the relevant entry, assessment and remaining qualification requirements.
The proposed AI initiative and module exemption arrangement build on the established relationship between ISCA and ICAI, while reflecting their shared aim of developing a future-ready and internationally connected accountancy profession.
Mr Lee Boon Teck, President of ISCA, said, “AI is reshaping the accountancy profession and building AI fluency alongside strong professional expertise will be critical to enabling the profession to adapt and create greater value. Through the proposed Global AI Fluency initiative, we hope to share Singapore’s experience in practical and responsible AI capability development with a wider professional community and contribute to responsible AI adoption across the global accountancy profession. Our longstanding relationship with ICAI also provides opportunities to strengthen the recognition of relevant professional learning and reduce extent of duplication for qualified professionals. Together, these initiatives contribute to a future-ready and internationally connected accountancy profession.”
Mr Prasanna Kumar D, President of ICAI, added, “The exchange of letters between ICAI and ISCA on 21st August marks a defining step in our shared journey and a clear statement of intent to work towards strengthening recognition between our professional qualifications. For our members, this opens up the potential for greater opportunities and professional recognition. At the same time, our discussions on Artificial Intelligence capability building reflect our shared commitment to strengthening AI capabilities across the profession. We look forward to working closely with ISCA to explore mutually beneficial opportunities for knowledge sharing, capacity building and preparing a future ready profession.”
The formal execution of the MEA remains subject to the necessary approvals in India and completion of the outstanding formalities.
About the Institute of Singapore Chartered Accountants (ISCA)
The Institute of Singapore Chartered Accountants (ISCA) is Singapore’s national accountancy body. Established in 1963, ISCA administers the Singapore Chartered Accountant Qualification programme and is designated by Singapore’s Ministry of Finance to confer the Chartered Accountant of Singapore [CA (Singapore)] designation.
ISCA represents more than 46,000 members across industries in Singapore and internationally, with members in over 40 countries. Its international network includes 12 overseas chapters, seven offices across 10 countries and more than 150 strategic partners, supporting professional connections and opportunities across borders.
ISCA is also a member of Chartered Accountants Worldwide, a global network representing more than 1.8 million Chartered Accountants and students across over 190 countries.
Through ISCA Academy, its training arm, the institute supports professional development and lifelong learning. Its charity arm, ISCA Cares, focuses on creating positive community impact.
