The Institute of Certified Public Accountants of Singapore (ICPAS) and SIM University (UniSIM) signed a Memorandum of Understanding (MOU) today to collaborate in the area of training and continuing education, with the objective of nurturing more accounting professionals in Singapore. Under this collaboration, UniSIM will offer certificate courses from its School of Business to ICPAS Professional Examination candidates. These courses are also offered in the undergraduate programmes at UniSIM.
Typically upon graduation, an overseas accountancy graduate has to accumulate sufficient work experience and undergo the ICPAS Professional Examination, among other requirements, to obtain the CPA Singapore designation with ICPAS. Membership with ICPAS is one of the requirements for registering as a public accountant in Singapore.
From time to time, there are overseas accountancy graduates who do not meet the core subject requirements set by the ICPAS Board of Education and Examinations, due to insufficient coverage in their degree syllabus. With the establishment of the ICPAS-UniSIM partnership, these graduates are eligible to sit for the ICPAS Professional Examination after completing the certificate courses at UniSIM. Currently, more than 100 candidates per year at ICPAS are required to take up bridging subjects at university level.
"This collaboration will harness the strong synergy offered by both our institutions for the development of our members and students. For ICPAS, new training and learning opportunities are opened up for its existing and potential members to strengthen their professional knowledge and practice. For UniSIM, this alliance adds to our effort to provide quality tertiary education for adult learners. Our combined domain expertise will enable more to meet the requirements for registration as accountants," said Professor Cheong Hee Kiat, President of SIM University.
Explaining his enthusiasm for the collaboration, Mr Tan Boen Eng, President of ICPAS, said, "This collaboration marks a bid to further enhance the educational pathway of the accounting profession in Singapore. Currently, there is a shortage of accountants in Singapore and globally. I understand that the shortage is most pronounced at mid-level and experienced accounting professionals. I believe that this MOU we are signing today will help produce more suitably qualified candidates to eventually meet this demand."
Professor Cheong and Mr Tan signed the MOU at a ceremony held at SIM University this morning.