SINGAPORE: The Association of Chartered Certified Accountants (ACCA) celebrated 88 years of contributing to Singapore’s accountancy profession this year. To mark the milestone, ACCA Singapore organised a week of activities, engaging members, industry stakeholders, approved employers, and more.
Helen Brand, ACCA’s Chief Executive, was in Singapore to lead the celebrations and meet with key partners, including officials from the Economic Development Board, the Ministry of Finance, the Accounting and Corporate Regulatory Authority (ACRA), and the Institute of Singapore Chartered Accountants (ISCA).
A key highlight of the week was a roundtable discussion on the future of the accountancy profession, held on Sept 2, featuring Vincent Lim, Managing Partner of Eco Sustainability Group, and Daryl Wang, Associate Partner at EY.
The discussion tackled essential questions about the future of the profession, including how to attract a more diverse pool of talent and how to educate the parents about the value of accountants.
On Sept 3, ACCA Singapore held its 88th Anniversary Gala Dinner, welcoming 300 stakeholders to the event. Among the notable attendees were Guest-of-Honour Mr Murali Pillai, Minister of State for the Ministry of Law and Ministry of Transport; Ms Chia-Tern Huey Min, Chief Executive of the Accounting and Corporate Regulatory Authority (ACRA); Mr Teo Ser Luck, President of the Institute of Singapore Chartered Accountants (ISCA); and Mr Ng Wai Choong, CEO of the Inland Revenue Authority of Singapore (IRAS).
Two Memoranda of Understanding (MoU) were signed at the event. ACCA Singapore partnered with the Information Systems Audit and Control Association (ISACA) to collaborate on technology, governance, cybersecurity, and internal controls. Another MoU with the Stewardship Asia Centre was also signed to promote corporate stewardship, sustainability, good governance, and leadership.
Since its establishment in 1936, ACCA has launched several key initiatives to support the profession in Singapore. In 1983, it collaborated with the Institute of Certified Public Accountants of Singapore (now ISCA) to introduce the Joint Examination Schemes, offering local accountants access to the globally recognised ACCA qualification.
In the early 2000s, ACCA Singapore introduced the Singapore Environmental Reporting Awards, at a time when sustainability was still a new concept for businesses and individuals.
Over the years, ACCA has hosted numerous international and regional events locally. This includes the 2016 ASEAN Conference, the 2020 International Public Sector Conference, and the 2020 ACCA Regional Conference.
In 2014, ACCA also hit a major milestone in ASEAN, welcoming its 50,000th future member, from Singapore. Globally, ACCA now boasts 252,500 members and over 526,000 future members in 180 countries.
Earlier this year, ACCA introduced a new strategy to guide the accountancy profession through changes in the world. The plan has four main goals: drive career success, strengthen impact, build sustainable value, and redefine the accountant.
This strategy matches Singapore’s push for upskilling and adapting to new technologies like artificial intelligence. To support these goals, ACCA will launch a Professional Diploma in Sustainability later this month. This qualification will help accountants become experts in sustainability, covering topics like reporting and assurance, ethics, and strategy.
Ms Helen said, “This anniversary is a special milestone in ACCA’s history on this continent. When we first started our work in Malaya back in 1936, it was also the first time ACCA established its presence in Asia. Since then, Singapore has served as a golden example for other countries to follow.”
“Over the years, I’ve seen how this country has emerged and grown as an attractive location for businesses of all sizes and sectors. We are proud that our members have played a significant part in the growth of the country and the accountancy sector. We are confident they will continue to make enormous contributions to build a healthy, sustainable society,” she added.
Daniel Leung, ACCA Singapore’s Country Manager, added, “While much has changed since we first established our presence in 1936, developing Singapore’s core of professional accountants as well as facilitating global mobility of talents for the opportunities of today and tomorrow will remain the core to who we are. We look forward to exciting times ahead!”
Next month, ACCA Singapore will host the 27th Annual Conference, themed “Reinventing the Profession for a Changed World.” This event will bring together regional business leaders to discuss pressing topics like regenerative practices and the transformative role of artificial intelligence.
Other events lined up include the ACCA Singapore Technical Symposium on Sept 24, the ACCA Members’ and Affiliates’ Achievement Evening in November, and the ACCA Global 120th Anniversary Evening on Dec 3. /TISG