MOU signed with ICAEW and Deloitte Singapore for SP accountancy students
On 4 April 2017, an MOU was signed with the Institute of Chartered Accountants in England and Wales (ICAEW) and Deloitte Singapore (one of big 4 firms) to help our SP Accountancy graduating students become chartered accountants via a possibly faster route and fulfil their practical training requirements while employed by Deloitte. The signing of MOU is timely as on 4 April 2017, ICAEW signed an agreement with the Institute of Singapore Chartered Accountants (ISCA) for mutual recognition of their respective qualifications. What it means is that our SP Accountancy graduates upon clearing 8 more ICAEW modules (after being exempted from 7 modules because of SP Accountancy’s coverage) and completion of 3 years practical work experience concurrently, can be awarded the UK as well as Singapore Chartered Accountant qualification.
The New Paper featured the signing event and the article can be found at this link: http://www.tnp.sg/news/singapore/fast-track-sp-accountancy-students
In mid-March 2017, SP Accountancy launched an evening tuition programme to prepare our SP Accountancy graduating students for the ICAEW exams in June 2017. Two modules were launched, namely Audit and Assurance as well as Financial Accounting & Reporting. If the students clear these 2 papers in June 2017 and start their employment, they will only have 6 papers left to clear while working before attaining the qualification. ICAEW exams are conducted quarterly and students have 4 chances a year to sit for exams.
Other big 4 firms and some medium size firms have also expressed interest to enter into similar collaborations.
Article written by : June Yeo, Coordinator for Professional Chartered Accountant Course program