Send to a friend Print
Share

Accountancy Services

The Asia-Pacific accountancy services market is today the fastest-growing region for the global accountancy networks, and is forecasted to reach US$38.3 billion by 2013.

Check out our Job Portal for jobs in Singapore's Accountancyl Services industry

The Asia-Pacific market beckons with dynamic economic growth that will fuel foreign demands for exports of professional accountancy services and talent. Singapore, located in the heart of the Asia-Pacific region, is suitably poised to ride on the growth possibilities that are opening up the accountancy sector.

Latest developments in Singapore’s accountancy sector include the recommendations set out by the Committee to Develop the Accountancy Sector (CDAS). The ten recommendations that would help Singapore achieve its aim of transforming into a leading global accountancy hub for the Asia-Pacific region by 2020. They are:

  • Develop a globally-recognised, Singapore-branded, post university professional accountancy qualification;
  • Develop a centre of excellence in business valuation, internal audit and risk management and tax;
  • Set up a Chief Financial Officers Institute for the professional development of CFOs;
  • Set up an Accountancy Services Research Centre (ASRC) to promote high quality market relevant research to position Singapore accountancy sector for new and emerging opportunities in the professional services market;
  • Develop Singapore into a leading centre for high value-adding accountancy services by being a hub for global accountancy organisations and centres of excellence, centre for global accountancy conferences and conventions and centre for high value-adding accountancy services to be provided out of Singapore, serving the markets in the Asia Pacific region;
  • Liberalise the ownership rules for public accountancy entities to facilitate the growth of multi-disciplinary professional practices in Singapore; and
  • Establish an Accountancy Sector Development Fund (ASDF) to raise the productivity of and build value-adding capabilities for the sector and to encourage regionalisation of Singapore-based public accountancy entities.

In addition, accountancy services professionals in Singapore can look forward to being part of a professional body. The Institute of Certified Public Accountants of Singapore (ICPAS) is the national accountancy body that develops, supports and enhances the integrity, status and interests of the profession. ICPAS accords the professional designation ‘Certified Public Accountant Singapore’, a distinctive brand valued by employers and members.

The Singapore Accountancy Academy Global Education (SAA-GE) established in 1985, also caters for the training and professional development of ICPAS members.

ICPAS is currently working closely with the Pro-Tem Singapore Accountancy Council on some of its key recommendations to transform the accountancy sector for the next ten years. This includes developing a globally recognised , Singapore-branded Post University Professional Accountancy Qualification (“Qualification Programme”) and transforming ICPAS into a professional accountancy body with global membership, outlook and standing to promote a strong Professional Accountancy Environment in Singapore.

Read more about the report by Committee to Develop the Accountancy Sector.

Download industry factsheet.

Back to top