This first-of-its-kind initiative is set to develop, retain, and globally position Southeast Asia's accounting talents, reinforcing Singapore's standing as a leading regional hub for accountancy excellence.

The launch comes at a pivotal time for the profession. The global accounting industry is poised for continued growth, driven by digital transformation, sustainability reporting, and expanding cross-border trade. At the same time, the profession faces mounting talent pressures – Singapore alone is projected to require 6,000 to 7,000 additional accountants by 2025, even as local accounting graduate numbers have fallen by more than 10% since 2018.

By targeting high-potential university students from Southeast Asia, especially Singapore, Thailand and Vietnam, the programme promotes the Singapore Chartered Accountant Qualification (SCAQ) – a globally recognised pathway that opens doors to international careers – while addressing the region's widening talent shortage.

"The accounting profession is undergoing transformation, shaped by digitalisation, sustainability, and globalisation. Talent mobility will be critical in ensuring that the profession keeps pace with these changes," said ISCA President Mr Teo Ser Luck. "Through this partnership with EY, we are building a strong regional pipeline of future-ready Chartered Accountants and reinforcing Singapore's position as a magnet for professional excellence."

Under the MOU, ISCA and EY Singapore will collaborate to:

a. Execute the "EY x ISCA SCAQ Career Mobility Programme" to collectively foster accountancy talents from in Southeast Asia, in particular Thailand and Vietnam, to embark on the SCAQ as professional pathway to become a Chartered Accountant;

b. Collectively promote SCAQ as an accountancy professional qualification of choice among university undergraduates in in Southeast Asia, with a focus in Thailand and Vietnam, and to work closely with these universities to have their support;

c. Train accountancy talents and equip them with professional competences to be a fully qualified Chartered Accountant;

d. Foster cross-cultural work experience through opportunities to work in Singapore; and

e. Retain talented accountancy professionals and increase the pool of Chartered Accountants in the long run.

University students who complete the SCAQ Foundation Programme and attain the ISCA Professional Business Accountant designation will be granted a guaranteed interview opportunity with EY Singapore. Those who are subsequently offered full-time graduate positions with EY Singapore will go on to complete the SCAQ Professional Programme and fulfil their Practical Experience with EY Singapore as an Accredited Training Organisation.

Momentum for the SCAQ is already strong, with enrolment jumping 47% year-on-year to exceed 4,200 candidates in 2024. ISCA is targeting more than 7,000 candidates in 2025, many of whom will benefit from initiatives like this to gain cross-border exposure and long-term career opportunities.

Mr Liew Nam Soon, EY Asia East Deputy Regional Managing Partner, EY Asean Managing Partner, also Singapore and Brunei Managing Partner at Ernst & Young LLP, said: "The strength of our profession lies in the talent we nurture. This programme reflects our commitment to develop aspiring Chartered Accountants in Southeast Asia. As a globally integrated organisation, EY has strong experience in harnessing diverse talents to provide quality services to regional clients. With that, we look to help deepen the accounting talent pool across the region, and enable aspiring professionals build cross-cultural knowledge and cross-border work experience to excel in an increasingly interconnected business environment. Including the support toward local professionals pursuing the SCAQ, EY is investing an estimated S$5 million over the next five years to nurture talents in the profession."

Hashtag: #CareerMobility #MOU #Accountancy #SCAQ

The issuer is solely responsible for the content of this announcement.

Institute of Singapore Chartered Accountants (ISCA)

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 40,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.

EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fuelled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

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This news release has been issued by Ernst & Young LLP, a member of the global EY organisation.

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