SkillsFuture Study Award for Accountancy Sector
Singapore Accountancy Commission (SAC)

Early career employee

Sector Overview

Singapore is reputed globally as a trusted hub for business and finance, and it is seeing a strong demand for accounting services and expertise.

Accountancy professionals are highly sought after for their expertise and skills. More than just crunching numbers, they help companies to set and achieve their business goals. As the financial backbone of a company and trusted business advisor to businesses, accountancy professionals provide integral accounting and advisory expertise and services to help companies enhance their financial reporting quality, business efficiency and governance practices.

On a national level, accounting professionals play an important role in the growth and development of Singapore’s economy. They foster public trust in financial data and our capital markets; uphold quality of financial reporting; and help organisations create and sustain value and growth.

The accountancy industry currently employs about 100,000 accountancy professionals. Close to 18,000 accountancy professionals work in 689 accounting firms.

The Big 4 accounting firms employ 51% of the 18,000 accountancy professionals in assurance, tax and advisory. This industry is seeing strong growth opportunities as they export their professional services to the region. In 2015, accounting firms have generated more than S$2 billion in annual revenue. By 2020, these firms are expected to employ about 21,000 accountancy professionals as Singapore develops into the leading accountancy hub for the Asia-Pacific region.

Beyond accounting firms, accountancy professionals also work as in-house accountants, internal auditors, risk managers and business valuers in listed companies, MNCs, SMEs, non-profit organisations, charities, government ministries and statutory boards. There are about 82,000 professionals working in this segment. Growth sectors such as banking and finance, healthcare and advanced manufacturing industries will see an increase in demand for accountancy professionals.

Minimum Eligibility Criteria

  • Singaporeans with at least 3 years of work experience in the Accountancy industry

  • Committed to deepening skills in the industry

  • Has track record of contributing to learning and training of self and/or others

  • Provide proof of admission to the selected course of study

  • Must not have completed course of study at the point of application

  • Employers’ nominations are highly encouraged. Employers should provide reasons for nomination, details of nominee’s work performance and potential for advancement in the company/industry, and explain how the course of study will help nominee fulfill current and future job requirements

  • Individual applicants should preferably provide a letter of recommendation or testimonial from current or former employer

  • Preferably working in an Accredited Training Organisation (ATO) under the Singapore CA Qualification Programme (For the list of ATOs, please click here)

  • Not a previous recipient of any SkillsFuture Study Award, or a recipient of any government scholarship, government award, or full sponsorship provided by company or external entities for the selected course 

 

Not all applications will be awarded. In addition to the minimum eligibility criteria, applicants will be assessed on their work experience as well as the usefulness and relevance of the proposed course in helping their career development.

Supported Courses

Course Institution
Foundation Programme – Singapore CA Qualification Singapore Accountancy Commission
Professional Programme – Singapore CA Qualification
Chartered Valuer and Appraiser Programme

(Applications will only be considered for applicants who have signed up for the entire programme (3 levels) on the structured learning route.)
Institute of Valuers and Appraisers of Singapore
 CIMA Professional Qualifications Chartered Institute of Management Accountants 
Executive Tax Programme Level III Tax Academy of Singapore
 Financial Forensic Accounting Qualification Institute of Singapore Chartered Accountants 
 Nanyang Enterprise Risk Management

(Applications will only be considered for applicants who have signed up for the entire programme)
 Nanyang Technological University

Priority will be given to applicants who:

  • are taking a supported course. Applicants taking other courses (excluding conferences, seminars and workshops) will be considered on a case-by-case basis.

  • are able to complete the course within 2 years

  • would still have to pay a course fee of $5000 or more (after all subsidies/sponsorships)

Application Period, Application Process and Evaluation Process

Application Period

Application Period for SkillsFuture Study Award
1 Jun 2018 to 31 Jul 2018

Application Process

What you will need How to submit

A. Application Form

Complete the application form (link at bottom of page)

Submit the application form via the online portal and take note of the application number in the email acknowledgement you will receive.

B. Supporting Information and Documents

To facilitate evaluation of your application, please provide the following:

  • Scanned coloured copy of your NRIC (front and back)
  • CV/Resume stating clearly your work history (work period, designation, organisation, job responsibilities)
  • Employer's nomination, reflecting work performance and potential for advancement in the company/sector, and explaining how the course of study will help the nominee to fulfil current and future job requirements (if applicable)
  • Record of professional development or training of others (if any)
  • Details of course if not listed under supported courses
  • Course/training acceptance letter(s) and/or proof of course/training payment
  • Are you receiving sponsorship for the course?
Email the supporting information and documents to skillsfuture_study_awards@sac.gov.sg using your application number as the email subject.

Evaluation
All applications received in the current application window will be evaluated holistically after the closing date. The evaluation process will take 6 to 8 weeks.

SAC may request for supporting documents or information.

Only shortlisted applicants will be notified. SAC reserves the right not to disclose the reasons for approving or rejecting any application, and to reject any incomplete application.

Enquiries

Email: SkillsFuture_Study_Awards@sac.gov.sg

Website: https://www.sac.gov.sg/



Click here to download the application form



Submit your completed application form



Note: Please type your responses directly into the PDF application form. The form is editable, and you will also be able to save and continue your work at your convenience. Hand-written or scanned applications will not be accepted.