In a significant step toward international cooperation in the finance sector, the Institute of Singapore Chartered Accountants (ISCA) has established a partnership with the Philippine Institute of Certified Public Accountants (PICPA).
On March 7, 2024, they signed a Memorandum of Understanding (MOU) to bolster the accountancy profession and support businesses in both Singapore and the Philippines.
This collaboration comes at a strategic time, as Singapore stands as one of the Philippines’ leading sources of foreign direct investment and a key trading ally.
With the Philippines hosting a vast number of business enterprises and accounting firms, the initiative between ISCA and PICPA is set to fortify the professional development of accountants, enhancing their capacity to back businesses effectively.
PICPA’s role will be instrumental in nurturing accountancy talents within the Philippines, offering upskilling opportunities for local professionals.
Aspiring Chartered Accountants eager to delve into the internationally-recognized Singapore Chartered Accountant Qualification, along with other ISCA programmes—including the Professional Business Accountant Programme, the Financial Forensic Accounting Qualification, the Sustainability Professional Certifications, and the recently launched Board of Directors Masterclass Programme—are encouraged to engage with PICPA for more information.
These programs, developed in Singapore and in line with international standards, are designed to equip accountancy professionals with the skills and competencies essential for meeting the evolving demands of the business world.
The collaboration between PICPA and ISCA promises to not only amplify the capabilities of accountants but also to reinforce the operational capacities of businesses and the growth strategies of professional service firms.
Further collaboration is on the horizon, with PICPA and ISCA exploring joint-membership pathways, as well as co-hosting events and conferences to enhance the allure of the accountancy profession.
Atty. Randy Blanza, CPA, the National President of PICPA, expressed enthusiasm about the partnership.
“It’s an exciting time for the practice of accountancy in the Philippines. This agreement will open more opportunities for Filipino CPAs to practice their profession in international markets, including Singapore and other international territories,” he said.
Ms. Gladeys Jill A. Santos, ISCA Philippines Chapter Chairperson, echoed this sentiment. “We are very pleased to be able to mark another milestone in ISCA’s efforts to develop the accountancy profession across the region. This agreement will extend the SCAQ and other ISCA programmes, opening doors for accountants in the Philippines to gain internationally recognized credentials and, in turn, growing and strengthening the accounting profession and businesses in both countries.”
