Institute of Singapore Chartered Accountants - ISCA

One word to describe Day 2 of the ISCA Global Talent Programme (GTP) 2024: Exhilarating! 💥

Our had a whirlwind of networking sessions, immersive corporate visits and an upskilling workshop, all in one day! 🤩

Check out these highlights of Day 2:
📌 Changi Airport Group (CAG) inspired us with how innovation is integrated throughout their business operations (including the finance team) to drive efficiency and at the heart of how they connect and enhance the experiences of their customers. Our also enjoyed the immersive experience hosted by Chua Siew Hwi and her team at the Changi Experience Studio.
📌 Corporate visit to Singtel's flagship store where Gan Siok Hoon and Amy Loh answered many burning questions from our on Singtel's omnichannel strategies. They also tried their hands at customising their phone cases at CASETiFY STUDiO, and content creation at TikTok Creator House!
📌 The insightful Future of Finance workshop, where GTP Taskforce member Sarjit Singh piqued the to rethink the role and value of future accountants to organisations.
📌 The inspiring Young Members Connect sharing session where our and ISCA members were engaged in an interactive and unreserved conversation with CA entrepreneurs, Ang Zan Yu, Quah Zheng Wei and Samantha Thian, about the unseen challenges in their entrepreneurship journeys.

Look out for our breakfast chat on sustainability and the next corporate visit in Day 3's post! ☕💻🌳

🌟 Are you as excited as we are for our upcoming ISCA Tech Fair on 16 August 2024? 🌟

At our Tech Fair, you can expect:

📢 Thought Leadership sessions by Jean-Michel Coeur from Google who will be sharing on how to navigate digital transformation.

🎤 Sharing on how Small and Medium-sized Practices (SMPs) can tap on various government initiatives to champion tech adoption and reskilling in the sector by our Supporting Partners, Infocomm Media Development Authority of Singapore (IMDA) & Workforce Singapore - WSG.

🚀 For our tech enthusiasts in the space: Emerging digital vendors will showcase new software and Artificial Intelligence (AI) technology, and such tools span across audit, accounting, cybersecurity, quality and practice management, and corporate secretarial!

🔍 Launch of our ISCA-Skybots Quality Management (QM) Dashboard, an interactive platform that helps you manage your system of quality management in one place!
Register your interest here for firsthand news: https://tinyurl.com/ISCASkybotsQMDB

🎁 Door gifts for the first 50 participants (or the “early birds”) – so join us at the ISCA House at 10am sharp! What’s more, you can also look forward to exciting activities including can’t-miss Virtual Reality (VR) games and lucky draws!

Bring your whole team down as we have something for everyone. Sign up today! https://tinyurl.com/SMPTechFair

22 July 2024 was an exciting Day 1 of the ISCA Global Talent Programme (GTP) 2024! 🤙🤙

We kicked off the week with a warm welcome from our ISCA CEO, Fann Kor, to our amazing . Fann shared insights about the accountancy profession, ISCA and fun facts about Singapore.

Here's a roundup of the remaining events from Day 1:

📌 Learning journey to Amazon Web Services IMDA Joint Innovation Centre where they learnt more about how cutting-edge technologies in the likes of Generative AI and Machine Learning, and how they are used in business transformation as well as in our daily lives.
📌 Corporate visit to Ascott's Lyf at One North hosted by Beh Siew Kim, Chief Finance and Sustainability Officer (CFSO), and Johnny Gao. It was such an inspiration as we uncovered the creative sustainability strategies adopted. They encouraged all of us to contribute towards sustainability efforts regardless of industry or business that we are in. 🌎
📌 Coffee chat with Finance and Practice Leaders in small-group settings, which facilitated questions and answers from the that will help them in navigating their careers.

Before we called it a night, everyone enjoyed Singapore’s street food culture at our very own Lau Pa Sat. 🍜🦐

Stay tuned for the fun we had on Day 2! 💥

🌟 We are honoured to welcome Minister Chan Chun Sing to ISCA House for an insightful and engaging dialogue with our members.

Moderated by ISCA Council Member, Mr Lim Him Chuan, attendees had a lively discussion on the impact of geopolitical developments on Singapore and how ISCA and the accountancy profession has a key role to build trust in an increasingly fragmented world. 🤝

💥 Some of the key takeaways from Minister Chan included the importance of adopting a principles-based approach when navigating these uncertain times, maintaining competitiveness and relevance by being quick to learn and evolve, and presenting our unique value propositions to the world, our business partners, and customers.

The session was attended by finance leaders, C-Suite executives, business owners, practitioners, and young professionals. The post-dialogue networking session with Minister Chan offered further exchanges of perspectives. 😄

Thank you to all who joined us for this meaningful dialogue, and we look forward to organising future sessions for our members! 🥳

Did you know that as an ISCA member, you get enjoy a wide range of exclusive benefits, discounts, and access to events? 💼🎁 We partner with reputable organisations to bring you fantastic perks for lifestyle pleasures, gifts, and much more. 🌟

🔎 Discover these deals and enhance your lifestyle today at https://tinyurl.com/ISCALifestylePleasuresandGifts!

💥 Not yet a member? Learn more about our membership pathways here: https://isca.org.sg/membership/become-a-member/infosessions

🌍 As part of our Sustainability Apex Programme (SAP), we recently held a Networking Panel Discussion which brought together accounting and legal industry experts to share their experiences in navigating the complexities of carbon markets!

It was certainly a fruitful and insightful evening, as we dove into discussions on strategies for effective carbon management and the crucial role of accountants, lawyers, and consultants in driving sustainability 🌳 Some of our key takeaways included the intricacies of Value Chain Decarbonisation & Internal Carbon Pricing, the importance of strong regulatory frameworks to upkeep the integrity of carbon markets, and effectiveness of internal carbon pricing as a risk mitigation strategy.

We would like to convey a hearty thank you to our panel moderator Anil Changaroth and panellists Josette Soh, Rachel Eng, Farizan R. and Prannoy Chowdhury for sharing their insights and expertise, and of course to all attendees as well! 🙌🏼 We would also like to thank our co-organisers, The Law Society of Singapore and Enterprise Singapore for their partnership in making the event a huge success. 🌟 We enjoyed the vibrancy and dynamism of the discussions, and are thrilled to see such a high level of interest and commitment to advancing carbon markets and sustainability.

Watch this space for more sustainability events and discussions!

ISCA is proud to support the Institute of Valuers and Appraisers, Singapore (IVAS) - International Valuation Standards Council (IVSC) Conference, to be held on 28 August 2024!

Titled ‘Beyond the Financials: Assessing Enterprise Value with Sustainability in a Data-Scarce World’, Associate Professor Johan Sulaeman will speak on the evolving landscape of sustainability factors, including ESG dimensions, within business practices and valuations. 🌎🍀

💥 Don’t miss out on the early bird sale, which ends on 31 July! Register now at: https://www.ivasconference.com/registration

https://www.linkedin.com/feed/update/urn:li:activity:7214199928959422466/

www.linkedin.com

📅 Since 1 January 2024, gains from the sale of foreign assets (that are capital in nature) are now taxable under specific circumstances under the new Section 10L of the Income Tax Act. Thinking of selling your assets overseas without having to pay tax in Singapore on the profits earned? Those days could very well be over.

❓ What does the new Section 10L of the Income Tax Act mean for your business? Find out more, only on CA Lab.
https://ca-lab.isca.org.sg/technicalities/section-10l-foreign-to-you/

Calling all accounting undergraduates in local universities! Join our Accelerated Pathway Programme (APP) designed for accountancy undergraduates in local autonomous universities to fast-track your journey to becoming a Chartered Accountant (CA) (Singapore)! 🚀 Enjoy exclusive perks and open doors to global opportunities with the CA qualification! 🌍

Learn more about the APP at http://tinyurl.com/SCAQAPP and enrol today via https://tinyurl.com/APPenrolment!

📧 Questions? Email us at [email protected].

’s short trip to Beijing summed up in one word: Fruitful 🇨🇳

It was beneficial to hear from the Ministry of Finance (M*F) of the People’s Republic of China, and China Securities Regulatory Commission 中国证券监督管理委员会 (CSRC) during our visit! We learnt about how proactive the Chinese government is in ensuring a robust regulatory landscape to uphold audit quality and good corporate governance. Thanks to 舒惠好 司长 of M*F and 李海军 副司长 of CSRC for having us! 🙌🏼

We would also like to thank Dr Zhao Mingji, President of Chinese Institute of Certified Public Accountants (CICPA), for graciously welcoming us and hosting a thoroughly productive exchange about developments in the accountancy sector in China and Singapore. 🤝

During the trip, we also took the chance to catch up with Chairman Ong Tze Guan of SingCham to explore potential partnerships 😉 Stay tuned for more updates!

Of course, the trip would not have been complete without meeting our ISCA members based in Beijing, who continue to proudly fly the Singapore flag overseas! 🇸🇬

Teo Ser Luck

We had such a great turnout at ISCA House yesterday for our quarterly Practitioners Connect! 🥳 It was wonderful to see practitioners forging new connections and reconnecting at this event.

Chairman of ISCA Public Accounting Practice Committee (PAPC), Lee Eng Kian, introduced members of the Committee and new public accountants yesterday, reaffirming their commitment to mutual learning within the Small and Medium-sized Practices (SMP) community! Paul Tan, PAPC member, also shared his firm’s experience and tips in implementing a robust quality management (QM) system. 🌟

We unveiled our brand-new ISCA-Skybots QM Dashboard for the first time yesterday – a tool that integrates Skybots’ comprehensive dashboard and ISCA’s QM toolkit. An interactive platform that helps you manage your system of quality management in one place, this will be officially launched next month at our ISCA Tech Fair on 16 August 2024. In the meantime, do register your interest below if you are keen to find out more about the ISCA-Skybots QM Dashboard: https://tinyurl.com/ISCASkybotsQMDB

📌 Our next SMP event is the ISCA Tech Fair for SMPs, sign up now: https://tinyurl.com/SMPTechFair

Not sure how to get started on your sustainability reporting journey? 🌳 Subscribe to ISCAccountify to get learning clips at the tip of your fingers! Gain instant access to high-quality educational content and start advancing your knowledge today. Visit www.isca.org.sg/accountify and join our community of learners.

https://www.linkedin.com/posts/iscaacademy_esg-iscaccountify-activity-7216611029638598656-nsID/?utm_source=share&utm_medium=member_desktop

www.linkedin.com

In a recently convened roundtable hosted by SAP Concur, our finance leaders, who are our ISCA members, had an insightful discussion on harnessing artificial intelligence (AI) for improving process efficiency and steering effectiveness. The event fostered a collaborative environment where participants shared their experiences and pain points, exchanged valuable insights in navigating their journey of finance transformation. 🤩

Mr Chirag Gidwani, Regional Vice President (RVP) & Head of Spend Management, SEA, SAP Concur, opened the session with a compelling speech, revealing firsthand how AI assisted in crafting his opening remarks. We then heard from Mr Amit Verma, Regional Head of CFO Advisory, SAP Asia Pacific and Japan, and Mr Jonah Kim, Product Marketing Director, SAP Concur, who explored ’s and its transformative potential, paving the way for future-ready finance strategies. 📈

Our key takeaways included:
🔍 The critical role of CFOs in investing in the right finance technologies.
💡 The importance of integrating AI into long-term strategies for finance transformation.
🚀 Anticipating AI's future applications is key for the next-gen finance office.

Stay tuned for more impactful collaborations shaping the future of finance!

We are thrilled to announce our business case partners for the Global Talent Programme 2024!

🌟 Accredify – Asia Pacific’s multi-award-winning digital trust solutions provider
✈️ Changi Airport Group – Leading air hub in Asia & most awarded airport in the World
📡 Singtel - Asia's leading communications technology group
🏨 The Ascott Limited – A trusted hospitality company with a global presence

For our , this collaboration offers a unique chance to tackle real-world challenges across diverse industries, and learn directly from industry leaders as they provide mentorship to our .

Beyond that, it is about how our community is coming together to nurture the next generation of leaders preparing to lead and innovate in these dynamic fields.

The best part? You can be part of GTP! Register your interest to join the exciting corporate visits lined up from 22 July to 25 July! https://tinyurl.com/ISCAgtpform

Team ISCA has rounded up our trip to Shanghai with a successful inaugural seminar, jointly organised by Singcham Shanghai and supported by PwC and SGN! 🤜🤛

The participants were welcomed by Vice Chairman and Secretary-General of SingCham Mr William Chang.

In line with the theme of “Impact-driven Governance: The Pivotal Role of the Board”, participants gained great insights on trends in Corporate Governance in China. ISCA Shanghai Chapter Chair Ms Claire Qian spoke about corporate governance and its implications on companies' financial and risk management.

Our Divisional Director Mr Soo Wei-Chieh also shared how the ISCA BOD Masterclass Programme can equip ISCA members, businesses, or anyone who aspires to sit on a board with essential directorial skills and access to an exclusive community to become board-ready, whether locally or overseas😎 Till we meet again at our next event, and make sure to keep a lookout on our WeChat group!

Stay tuned for more updates as we head to Beijing! ✈️

ISCA just took another step in enhancing the international network in China!🇨🇳

We are pleased to sign a Memorandum of Understanding (MOU) with the Shanghai Institute of Certified Public Accountants 上海市注册会计师协会 (SHICPA). Through this partnership, our members will have access to a support network jointly set up by SHICPA and ISCA. Both parties will also cross-promote curated training programmes for our members respectively. Our President, Mr Teo Ser Luck was part of the Singapore delegation at the 5th Singapore-Shanghai Comprehensive Cooperation Council meeting, led by Minister for Culture, Community and Youth and Second Minister for Law Mr Edwin Tong and Senior Minister of State, Ministry of Culture, Community and Youth & Ministry of Trade and Industry Ms Low Yen Ling.

We also hope to foster strong support to Small and Medium-sized Practices (SMPs) in both Singapore and Shanghai, providing guidance in market access and jointly enhancing the development of their capabilities💪

To the beginning of fruitful partnerships🤝🏻

Is the portrayal of financial forensics in films as accurate as you think in real life? 🕵️‍♂️🎬

Hear from (and watch) Belinda Tan (Chair of ISCA Financial Forensics Accounting Oversight Committee (FFAOC)) and Lem Chin Kok (immediate past Chair of FFAOC) as they delve into this question based on their personal experiences and recount fascinating cases. They will dive into the wonders of financial forensics and share their favourite films to wind down after a long day at work.

Tune in to the latest episode of CA Listen: Sparkling Conversations on CA Lab via this link: https://bit.ly/CAListenep5 🎧✨

📢 Attention all aspiring Chartered Accountants! 📢

The Singapore Chartered Accountant Qualification (SCAQ) December exam enrolment is now open! 🌟📚 Don’t miss this opportunity to level up your career.

💬 Curious about what’s next or simply want to learn more about the SCAQ Programme? Join our upcoming info sessions and have your questions answered!

🔗 Enrol for the December exam now: https://scaq.isca.org.sg/
🔗 Sign up for the info session today: tinyurl.com/SCAQinfosessions

As part of ISCA’s commitment to foster a culture of social responsibility and enhance corporate governance, we are proud to launch our new “Do Good” initiative! 🙌

Under this initiative, ISCA and SAC Capital will subsidise 50% of board training packages of the Board of Directors (BOD) Masterclass Programme for Trade Associations and Chambers (TACs) and Charities. This will benefit over 2,000 registered charities and over 300 TACs in Singapore. The 50% subsidy will amount to potential cost savings of $6,540 per organisation, and up to $15 million in total for both sectors.

The "Do Good" board package aims to empower TACs and Charity Boards to fulfil their important missions with integrity, professionalism, and social responsibility within Singapore's non-profit sector. As part of the masterclass programme, TACs and charities can also attend exclusive group mentoring sessions by seasoned BODs and enjoy complimentary board appointment service.

By making the necessary knowledge more accessible and connecting them with a supportive board community, we aim to foster a culture of responsible stewardship and sustainable growth. 🚀📈

Read more here: https://bit.ly/DoGoodMediaRelease

For more details on the "Do Good" Learn-With-Your-Board Packages and how it can benefit your organisation, please visit https://bit.ly/DoGoodPackage.

Quick check: Do you have a SIBOR loan? 🤔

With the upcoming cessation of the Singapore Interbank Offered Rate (SIBOR) by end 2024, Financial Reporting Bulletin (FRB) 9 (Revised June 2024) has been updated with the transition approach and accounting considerations for SIBOR loans transitioning to the Singapore Overnight Rate Average (SORA)✍🏻 SORA is the key interest rate benchmark that Singapore banks now use to price most floating-rate loans. All entities are urged to review and consider the accounting implications, if any, from the transition of their existing SIBOR loan portfolio if they have not done so.

Certain entities may continue to have financial contracts which have not transitioned to SORA such as those referencing Fallback (SOR) and maturing before 31 December 2024. In such cases, entities may consider reviewing the applicability of the reliefs provided under SFRS(I) 9 Financial Instruments🧾

Read more here:https://isca.org.sg/docs/default-source/fr-frb/frb-9-(revised-june-2024)-final.pdf

🌟 In conjunction with International Self-Care Day on July 24th, ISCA hosted a health screening for all our staff at our ISCA House! 🩺 Staff health matters to us, and we are committed to supporting their well-being. Together as Team ISCA, we took a proactive step towards a healthier future! 🌿❤️

It's a wrap for the Chartered Accountants Worldwide (CAW)’s CEO meeting held in-person in London. CAW is an alliance that unites over 1.8 million dedicated members and students across more than 190 countries. 🌍🙌

Fann shared our key initiatives and market developments with other CEOs, and also offered Singapore as the ideal destination for the next CAW meeting in 2025!

The event wrapped up with an exclusive networking session with fellow Chartered Accountants from around the world, including our very own ISCA members in the UK whom we always love to catch up with! 🤝

Led by our UK Chapter Chair Germaine Chia, we also engaged with several of ISCA’s close partners, ICAEW, CIPFA, AICPA-CIMA, IFRS, discussing ISCA’s upcoming plans and collaborations with local industry partners, corporations, government agencies, and global professional bodies.

👉 Next stop, Shanghai and Beijing! 🇨🇳

🎉 Exciting news for all our Board of Directors (BOD) Masterclass Programme participants!

Join our exclusive complimentary webinar series featuring corporate governance expert, Prof Yuen Teen Mak. Over six 1-hour live sessions starting from October 2024, Prof Mak, an eminent expert in the field, will guide you through real-world case studies from Singapore, and overseas companies such as ecoWise, SuperMax, Boeing, and National Australian Bank. This series will cover essential topics including corporate governance, board effectiveness, and corporate culture. Through in-depth discussions and a Q&A session, you will gain directorial knowledge and skills to navigate complex boardroom scenarios with confidence and competence. 💼📈

➡️ To all BOD Masterclass Programme participants: Keep an eye out for the registration link for this series, which will be made available to you soon!

Not a part of the BOD Masterclass programme yet? Sign up today to seize this invaluable learning opportunity: https://bit.ly/bodmasterclass

📢 Check out our newest releases this month on ISCAccountify!

In case you haven't heard, ISCAccountify is our online learning platform, that offers the most flexible and cost-effective way to earn your CPE hours while accessing a broad range of accounting and business-related topics from accounting, audit and tax, to design thinking, problem solving, RPA, sustainability disclosures and more! Our platform drops fresh content regularly, ensuring you will always get access to new courses and stay up-to-date with the latest industry trends and regulations.

We understand that carving out time for CPE courses for your professional development can be a challenge…so ISCAccountify is here to offer flexibility and convenience to fit your schedule. ⏱️ Subscribe for just S$180 a year (excluding GST, for ISCA members) and dive into quick, on-the-go learning instantly!

Subscribe now and upskill without missing a beat amid your busy schedule: www.isca.org.sg/accountify

Cheers to a productive June! 🎉 Team ISCA continued to actively engage with Accredited Training Organisations (ATOs) who have recently earned or renewed their accreditation for another 3 years. 🤩 These ATOs include uSafe Audit & Assurance PAC, Starwood Asia Pacific Hotels & Resorts Pte Ltd, CSCGFM Corporate Services (Singapore) Pte. Ltd. and Quantuma (Singapore) Pte Limited. The month was capped off with an SCAQ info sharing to a new batch of joiners from PwC Singapore!

To all employers, being an ATO means you are accredited to train aspiring Chartered Accountants (CAs). Attract and retain talented accountancy professionals as candidates of the Singapore Chartered Accountant Qualification (SCAQ) as they will have their Practical Experience recognised with your organisation.

Interested to become an ATO? Reach out to us at [email protected] and we will guide you on how you can be accredited. 💻✅

We look forward to an exciting second half of 2024 with even more ATO engagements to come! 🥰

Can carbon management and value chain decarbonisation be our beacon of hope amidst rising global carbon emissions? 🌍

Join us in the upcoming SAP Networking Panel Discussion, as we delve into the role of lawyers and accountants in the carbon market ecosystem and explore potential collaborations between sustainability consultants, lawyers, and accountants.

The Panel💬:
🎤 Moderator, Anil Changaroth, Co Head ESG, Building/Contraction & Logistics Practices,
RHTLaw Asia
🎤 Prannoy Chowdhury, Associate Director (Southeast Asia), Carbon Trust
🎤 Rachel Eng, Managing Director, Eng and Co. LLC
🎤 Josette Soh, ESG Partner, Deloitte & Touche LLP
🎤 Farizan d’Avezac de Moran, Senior Partner, GreenA Consultants

Event Details:
Cracking the Sustainability Code Series 1: Approaches to Carbon Management
📅 Date: 16 July 2024, Tuesday
🕔 Time: 5.00 pm – 7.00 pm
(Registration starts at 4.30pm)
📍 Venue: Enterprise Singapore (Singapore Room)
230 Victoria Street, #09-00 Bugis Junction Office Tower
Singapore 188024

📣Please register by 12 July to secure your spots 🙌! https://tinyurl.com/SAPPanelDiscussion

This event is jointly organised by Institute of Singapore Chartered Accountants - ISCA, The Law Society of Singapore, and Enterprise Singapore as part of the Sustainability Apex Programme (SAP).

Together, we will pave the way for a brighter, sustainable future. 🌱🌏