HKICPA signs MoU with ISCA to strengthen exchanges between the accounting professions in Hong Kong and Singapore

The Hong Kong Institute of Certified Public Accountants (HKICPA) and the Institute of Singapore Chartered Accountants (ISCA) today (16 May) signed a Memorandum of Understanding (MoU) to foster cooperation in multiple areas including international recognition, professional training, extension of networking opportunities, knowledge sharing and more. Its purpose is to strengthen cooperation and exchanges between the accounting professions in Hong Kong and Singapore. 

According to the MoU, HKICPA and ISCA will work closely on conducting a review to establish a pathway for membership recognition between the two bodies. Both bodies will also curate and promote selected training programmes that are relevant to their respective members, and extend invitations to networking opportunities. In addition, both bodies will facilitate the sharing of resources and exchanging of knowledge. 

ISCA’s delegation visited Hong Kong and held a meeting with representatives of HKICPA. During the meeting, the MoU was signed by Margaret Chan, Chief Executive and Registrar of HKICPA and Fann Kor, Chief Executive Officer of ISCA, under the witness of Roy Leung, President of HKICPA and Teo Ser Luck, President of ISCA.  

HKICPA President Roy Leung said: “This MoU signifies a milestone in our collaboration and sets the stage for greater co-operation. It reflects our shared vision of strengthening the accounting profession and creating value for our respective members. I am confident that this partnership will open up new avenues of growth, foster greater cooperation, and contribute to the continued success of our profession in both Hong Kong and Singapore, as well as contributing to the even closer ties between the two economies.” 

ISCA President Teo Ser Luck said: “We are honoured to count HKICPA among our distinguished partners, as we continue our journey to develop the accountancy profession internationally. Together with HKICPA, we look forward to elevating the industry and foster the growth and competitiveness of our members in an increasingly interconnected global economy.” 

As one of the founding members of the Global Accounting Alliance (GAA), HKICPA has consistently engaged in exchanges with international accounting professions, and remains committed to upholding the international recognition of its membership. By collaborating with ISCA, HKICPA aims to further strengthen its connections with overseas professional accounting bodies. The objective of the partnership is to uphold the highest professional standard for the profession, thereby solidifying Hong Kong’s position as an international financial centre.   

HKICPA is the statutory professional accountancy body of Hong Kong responsible for the professional training and development of certified public accountants in Hong Kong. The Institute is also a standard setter of the local accounting industry. The Institute has over 47,000 members and over 12,000 registered students. ISCA is the national accountancy body of Singapore administering the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation. Currently, ISCA has over 36,000 members. 

^{Margaret Chan, Chief Executive and Registrar of HKICPA (Left front) and Fann Kor, Chief Executive Officer of ISCA (Right front) under the witness of Roy Leung, President of HKICPA (Left back) and Teo Ser Luck, President of ISCA (Right back), sign the Memorandum of Understanding to foster the development of accounting profession in Hong Kong and Singapore and strengthen the co-operations between the two professional bodies.}