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The Singapore Accountancy Commission

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Friday, 20 September 2013 00:00

The Singapore Accountancy Commission

The Singapore Accountancy Commission (SAC) a statutory body of the Singapore government that collaborates with local and international communities in order to drive accountancy excellence in Singapore through talent development, professional qualification, research and thought leadership. It wants to grow Singapore's accountancy profession through stricter regulations and higher standards.


The Singapore Qualification Programme

The Singapore Qualification Programme (QP) is a new mandatory 3-year accountancy post-graduate qualification programme for students wanting qualify as certified accountants.  After July 2013, the QP is prerequisite for students wanting to become certified accountants.

The programme is a one of the cornerstone objectives of the Singapore Accountancy Commission's (SAC). SAC hopes that the programme will raise the capabilities of the accounting profession as well as open up overseas working opportunities. This is all part of Singapore's drive to transform itself into a leading accountancy hub in the Asia-Pacific region.


To reflect its role as the administrator of the Singapore Qualification Programme (QP), the Institute of Certified Public Accountants of Singapore (ICPAS) has undergone a rebranding and is now known as the Institute of Singapore Chartered Accountants (ISCA).


The Deputy Prime Minister Tharman Shanmugaratnam said at the Singapore Accountancy Convention that the Singapore QP was launched in July to widen the source of accounting professionals and the results have been encouraging.

The ISCA will also be the entity to confer the Chartered Accountant of Singapore designation to individuals who complete the QP. The designation will be internationally recognised, as part of the Government's push to develop Singapore into an accountancy hub for the Asia-Pacific by 2020.