ISCA Signs MOU With PICPA To Elevate Accountancy Profession In The Philippines

In a significant move to bolster the accountancy profession and business support between Singapore and the Philippines, the Institute of Singapore Chartered Accountants (ISCA) has entered into a Memorandum of Understanding (MOU) with the Philippine Institute of Certified Public Accountants (PICPA). This collaboration aims to enhance the professional development of accountants in both countries, leveraging Singapore's position as one of the top sources of foreign direct investment inflows into the Philippines and a key trading partner.

The partnership between ISCA and PICPA is set to offer extensive training and upskilling opportunities for accountancy professionals in the Philippines. With over 1 million business enterprises and 1,430 accounting firms in the Philippines, this initiative is timely and promises to equip accountants with the necessary skills and competencies to meet evolving business demands. The focus will be on developing accountancy talents through internationally recognised programmes such as the Singapore Chartered Accountant Qualification (SCAQ) and other ISCA offerings including the Professional Business Accountant Programme, Financial Forensic Accounting Qualification, Sustainability Professional Certifications, and the Board of Directors Masterclass Programme.

Atty. Randy Blanza, CPA, National President of PICPA, expressed enthusiasm about the agreement, highlighting the opportunities it opens for Filipino CPAs to practice their profession on an international scale, including in Singapore. Similarly, Ms Gladeys Jill A. Santos, ISCA Philippines Chapter Chairperson, remarked on the milestone this agreement represents in ISCA’s regional efforts to develop the accountancy profession. She emphasized the potential for growth and strengthening of the accounting profession and businesses in both countries.

The collaboration extends beyond professional development to include exploring joint-membership pathways, joint events, and conferences aimed at enhancing the attractiveness of the accountancy profession. This partnership not only signifies a step forward in professional development but also in fostering stronger business and professional services ties between Singapore and the Philippines.

About ISCA: The Institute of Singapore Chartered Accountants is Singapore's national accountancy body. With over 35,000 members making strides across various industries worldwide, ISCA plays a pivotal role in advocating for the profession's interests. Established in 1963, it administers the SCAQ programme and confers the Chartered Accountant of Singapore – CA (Singapore) – designation.

About PICPA: The Philippine Institute of Certified Public Accountants is recognized as an accredited integrated professional organization of CPAs by the Professional Regulation Commission (PRC). Founded in November 1929 by a group of distinguished pioneers in accounting, PICPA has been awarded five times as PRC's most outstanding APO among other professional organizations.

This partnership between ISCA and PICPA underscores a shared commitment to advancing the accountancy profession through international collaboration, setting a precedent for future initiatives aimed at enhancing global professional standards.