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
Provides 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.
|Foundation Programme – Singapore CA Qualification||Singapore Accountancy Commission|
|Professional Programme – Singapore CA Qualification|
|Chartered Valuer and Appraiser Programme*||Institute of Valuers and Appraisers of Singapore|
|Executive Tax Programme Level III||Tax Academy of Singapore|
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)
* Applications will only be considered for applicants who have signed up for the entire programme (3 levels) on the structured learning route.
Application Period and Evaluation Process
|Course Commencement Period||Application Period for SkillsFuture Study Award|
|1 Jan 2018 to 31 Jun 2018||15 Nov 2017 to 31 Jan 2018
All applications received in the current application window will be evaluated holisticaly 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.