Accountancy bodies sign Mutual Recognition Agreement
A milestone agreement affecting thousands of accountants and finance professionals in Singapore has today been signed by the Institute of Certified Public Accountants of Singapore (ICPAS) and ACCA (The Association of Chartered Certified Accountants).
The two accountancy bodies have signed a Mutual Recognition Agreement (MRA), which enables ICPAS members to be a full member of ACCA and vice versa, and enjoy the benefits which both organisations can offer. Accountants working in public practice will still have to satisfy additional national requirements.
According to the agreement, only members of the ICPAS who have completed the ICPAS Professional Examination and have satisfied ACCA's practical experience requirement shall be eligible for admission into membership of ACCA. Only ACCA members who have completed the final part of the ACCA examinations and have satisfied the requirements on relevant practical experience, pre-admission course and proficiency in Singapore laws as prescribed by ICPAS shall be eligible for admission into membership of ICPAS.
ICPAS and ACCA have already established a strong and close working relationship, having worked together for many years since 1983 through the ICPAS/ACCA Joint Professional Examination Scheme, which has helped to develop the accountancy profession in Singapore, the region and internationally.
The MRA, which is signed by Mr Tan Boen Eng, President of ICPAS, Dr Ernest Kan, Vice President of ICPAS, Mr Allen Blewitt, Chief Executive of ACCA and Mrs Penelope Phoon-Cohen, Head of ACCA Singapore, comes into effect today, 22 August 2005.
In his address at the MRA signing ceremony, ICPAS President, Mr Tan Boen Eng says, "This is the second MRA that ICPAS has signed with an overseas accountancy body. The MRA with ACCA is a closer step towards international recognition of ICPAS membership. ICPAS is a member of the ASEAN Federation of Accountants (AFA) and ACCA is an Associate member. Both bodies have also been working closely through this international body to promote international cooperation and thus enhance the standard of the accountancy profession."
"We are delighted to be signing the MRA with ICPAS which strengthens our already excellent relationship and which will benefit accountants and the wider profession in future. Both bodies share common and strong interests in the advancement of the profession of accountancy, especially in relation to the maintenance and strengthening of professional and educational standards, and we look forward to working closely with ICPAS in the future," says Mr Allen Blewitt.
The two accountancy bodies have signed a Mutual Recognition Agreement (MRA), which enables ICPAS members to be a full member of ACCA and vice versa, and enjoy the benefits which both organisations can offer. Accountants working in public practice will still have to satisfy additional national requirements.
According to the agreement, only members of the ICPAS who have completed the ICPAS Professional Examination and have satisfied ACCA's practical experience requirement shall be eligible for admission into membership of ACCA. Only ACCA members who have completed the final part of the ACCA examinations and have satisfied the requirements on relevant practical experience, pre-admission course and proficiency in Singapore laws as prescribed by ICPAS shall be eligible for admission into membership of ICPAS.
ICPAS and ACCA have already established a strong and close working relationship, having worked together for many years since 1983 through the ICPAS/ACCA Joint Professional Examination Scheme, which has helped to develop the accountancy profession in Singapore, the region and internationally.
The MRA, which is signed by Mr Tan Boen Eng, President of ICPAS, Dr Ernest Kan, Vice President of ICPAS, Mr Allen Blewitt, Chief Executive of ACCA and Mrs Penelope Phoon-Cohen, Head of ACCA Singapore, comes into effect today, 22 August 2005.
In his address at the MRA signing ceremony, ICPAS President, Mr Tan Boen Eng says, "This is the second MRA that ICPAS has signed with an overseas accountancy body. The MRA with ACCA is a closer step towards international recognition of ICPAS membership. ICPAS is a member of the ASEAN Federation of Accountants (AFA) and ACCA is an Associate member. Both bodies have also been working closely through this international body to promote international cooperation and thus enhance the standard of the accountancy profession."
"We are delighted to be signing the MRA with ICPAS which strengthens our already excellent relationship and which will benefit accountants and the wider profession in future. Both bodies share common and strong interests in the advancement of the profession of accountancy, especially in relation to the maintenance and strengthening of professional and educational standards, and we look forward to working closely with ICPAS in the future," says Mr Allen Blewitt.