Skills Framework for Accountancy

SkillsFuture Orange Banner of man with telescope

What Is it?

The Skills Framework (SFw) is a SkillsFuture initiative developed for the Singapore workforce to promote skills mastery and lifelong learning, and is an integral component of the Professional Services Industry Manpower Plan.

Jointly developed by SkillsFuture Singapore (SSG), Workforce Singapore (WSG), and the Singapore Accountancy Commission (SAC), together with industry associations, training providers, organisations and unions, the Skills Framework for Accountancy provides useful information on:

  • Sector information;

  • Career pathways;

  • Occupations and job roles;

  • Existing and emerging skills; and

  • Training programmes for skills upgrading and mastery.

Who Is It For?

Individuals who wish to join or progress within the Accountancy sector, to assess their career interest, identify relevant training programmes to upgrade their skills and prepare for the desired job roles.

Employers will be able to recognise these skills and invest in training their employees for career development and skills upgrading.

Training providers can gain insights on sector trends, existing and emerging skills that are in demand, and design programmes to address the industry needs accordingly.

How Does It Work?

The SFw for Accountancy contains information on trends, career pathways, occupations, job roles, skills and competencies and training programmes.


(i) Sector Information

This section provides information on the SFw for Accountancy, including information on trends and workforce profiles in the sector.

Click here to download the Guide to Occupation and Skills for the SFw for Accountancy.


(ii) Career Pathways

The Career Pathways show the possible options for vertical and lateral progression for advancement and growth. Six (6) tracks, (i) Assurance, (ii) Financial Accounting, (iii) Management Accounting, (iv) Internal Audit, (v) Business Valuation and (vi) Tax, which encompass 25 job roles.

Click the following link to download the Career Pathways for the Accountancy sector. [PDF / Word]


(iii) Skills Maps

The Skills Maps covers a total of 25 job roles, critical work functions, key tasks and skills and competencies aligned to the six tracks.


(a) View the Occupations/Job Roles under the SFw for Accountancy

Click on the tracks listed below to download the Skills Map for each track.

Assurance

  • Audit Associate/Audit Assistant Associate [PDF/ Word]
  • Audit Senior [PDF/ Word]
  • Audit Senior Manager/Audit Manager [PDF/ Word]
  • Audit Partner/Audit Director [PDF/ Word]

Financial Accounting

  • Accounts Executive/Accounts Assistant [PDF / Word]
  • Accountant/Senior Accounts Executive [PDF / Word]
  • Finance Manager [PDF / Word]
  • Financial Controller [PDF / Word]

Management Accounting

  • Accounting Executive [PDF / Word]
  • Management Accountant/Financial Planning and Analysis Analyst/Business Analyst [PDF / Word]
  • Financial Planning and Analysis Manager [PDF / Word]
  • Business Controller [PDF / Word]
  • Chief Financial Officer [PDF / Word]

Internal Audit

  • Senior Internal Auditor/Internal Auditor [PDF / Word]
  • Internal Audit Assistant Manager [PDF / Word]
  • Internal Audit Senior Manager/Internal Audit Manager [PDF / Word]
  • Head of Internal Audit/Chief Audit Executive [PDF / Word]

Business Valuation

  • Associate/Analyst [PDF / Word]
  • Manager/Senior Associate [PDF / Word]
  • Associate Director/Senior Manager [PDF / Word]
  • Partner/Executive Director [PDF / Word]

Tax

  • Tax Associate/Tax Assistant Associate/Tax Accountant/Tax Specialist [PDF / Word]
  • Assistant Tax Manager/Senior Tax Associate/Senior Tax Accountant/Senior Tax Specialist [PDF / Word]
  • Assistant Vice President of Tax/Associate Director/Tax Manager [PDF / Word]
  • Tax Partner/Tax Director/Vice President of Tax/Head of Tax [PDF / Word]

 


(iv) Skills and Competencies

The Skills and Competencies identified for each of the job roles fall under two broad classifications: (i) Technical Skills and Competencies, and (ii) Generic Skills and Competencies.


(a) View the Technical Skills and Competencies for the SFw for Accountancy

Technical Skills and Competencies comprise occupation/job-specific knowledge, skills and abilities that a person needs to have to perform the various tasks.

Click the following link to download the Overview of Technical Skills and Competencies for the SFw for Accountancy. [PDF / Word]

Click below to view the Technical Skills and Competencies for the SFw for Accountancy.

 

Audit

  • Auditing and Assurance Standards [PDF / Word]

  • Audit Compliance [PDF / Word]

  • Audit Frameworks [PDF / Word]

  • Engagement Completion and Reporting [PDF / Word]

  • Engagement Execution [PDF / Word]

  • Engagement Planning [PDF / Word]

  • Engagement Quality Control [PDF / Word]

  • Engagement Review [PDF / Word]

  • Professional Scepticism and Judgment [PDF / Word]

  • Risk Assessment [PDF / Word]

Business Law and Regulations

  • Corporate and Business Law  [PDF / Word]

  • Regulatory Risk Assessment  [PDF / Word]

  • Regulatory Strategy [PDF / Word]

Business Relations

  • Conflict Management [PDF / Word]

  • Stakeholder Management [PDF / Word]

Business Transformation

Business Valuation 

  • Financial Modelling [PDF / Word]

  • Valuation Approaches and Methodologies [PDF / Word]

  • Valuation Conclusion and Reporting  [PDF / Word]

  • Valuation of Different Classes of Interest [PDF / Word]

  • Valuation Research and Analysis [PDF / Word]

Corporate Finance

Corporate Reporting

  • Accounting Standards [PDF / Word]

  • Financial Closing [PDF / Word]

  • Financial Reporting [PDF / Word]

  • Financial Reporting Quality [PDF / Word]

  • Financial Statements Review [PDF / Word]

  • Financial Transactions  [PDF / Word]

  • Group Accounting and Consolidation [PDF / Word]

  • Non-Financial Reporting [PDF / Word]

  • Transactional Accounting [PDF / Word]

Governance and Risk Management

Infocomm Technology

  • Accounting Systems [PDF / Word]

  • Cyber Security [PDF / Word]

  • Data Analytics [PDF / Word]

  • Infocomm Technology Adoption and Innovation [PDF / Word]

  • Infocomm Technology Environment and Development [PDF / Word]

  • Infocomm Technology Governance [PDF / Word]

Internal Audit

  • Business Acumen [PDF / Word]

  • Business Process Analysis [PDF / Word]

  • Data Collection and Analysis [PDF / Word]

  • Internal Audit Engagement Execution [PDF / Word]

  • Internal Audit Engagement Planning [PDF / Word]

  • Internal Audit Function Management [PDF / Word]

  • Internal Audit Quality Assurance [PDF / Word]

  • Improvement and Innovation [PDF / Word]

Management Accounting

Professional Values and Ethics

Project Management

Strategic Business Management

Taxation

(b) View the Generic Skills and Competencies for the SFw for Accountancy

Generic Skills and Competencies are employability/transferable skills and competencies.

Click here to download the Overview of Generic Skills and Competencies for the SFw for Accountancy.


(v) Training Programmes

The Training Programmes provide information on skills acquisition that are available for new entrants and in-service personnel to acquire skills and competencies required for various job roles in the Accountancy sector.

 

(a) View the Training Programmes for new entrants

These are programmes that equip new entrants with skills and knowledge for the specific job role in the sector at their respective entry level.

 

(b) View the Training Programmes for in-service employees

For in-service employees who work in the Accountancy sector and who aspire to take on more challenging roles at work, you can identify and enrol in the training programmes listed here to acquire the relevant skills.

These are programmes for in-service personnel to broaden or deepen specific skills and knowledge for the various job roles in the sector.

Assurance

  • Audit Associate/Audit Assistant Associate [PDF / Word]
  • Audit Senior [PDF / Word]
  • Audit Senior Manager/Audit Manager [PDF / Word]
  • Audit Partner/Audit Director [PDF / Word]

Financial Accounting

  • Accounts Executive/Accounts Assistant [PDF / Word]
  • Accountant/Senior Accounts Executive [PDF / Word]
  • Finance Manager [PDF / Word]
  • Financial Controller [PDF / Word]

Management Accounting

  • Accounting Executive [PDF / Word]
  • Management Accountant/Financial Planning and Analysis Analyst/Business Analyst [PDF / Word]
  • Financial Planning and Analysis Manager [PDF / Word]
  • Business Controller [PDF / Word]
  • Chief Financial Officer [PDF / Word]

Internal Audit

  • Senior Internal Auditor/Internal Auditor [PDF / Word]
  • Internal Audit Assistant Manager [PDF / Word]
  • Internal Audit Senior Manager/Internal Audit Manager [PDF / Word]
  • Head of Internal Audit/Chief Audit Executive [PDF / Word]

Business Valuation

  • Associate/Analyst [PDF / Word]
  • Manager/Senior Associate [PDF / Word]
  • Associate Director/Senior Manager [PDF / Word]
  • Partner/Executive Director [PDF / Word]

Tax

  • Tax Associate/Tax Assistant Associate/Tax Accountant/Tax Specialist [PDF / Word]
  • Assistant Tax Manager/Senior Tax Associate/Senior Tax Accountant/Senior Tax Specialist [PDF / Word]
  • Assistant Vice President of Tax/Associate Director/Tax Manager [PDF / Word]
  • Tax Partner/Tax Director/Vice President of Tax/Head of Tax [PDF / Word]

 

(c) View the Training Programmes for Generic Skills and Competencies (GSCs)

These are programmes through which individuals can acquire the GSCs, which are transferable and can be applied across sectors. The GSCs facilitate employability by supporting individuals in acquiring relevant Technical Skills and Competencies (TSCs) for various job roles in different sectors. Please click[PDF / Wordto access the GSC training programme listing.

In-service personnel can identify the top five GSCs which are required for respective job roles by referencing the Skills Maps listed in Section (iii) (a) above before refering to the listing to identify training programmes for GSCs which are considered as critical for the job roles.

 

For more information on Training Programmes, please visit the respective training providers’ websites or http://www.skillsfuture.sg/credit.

Skills Framework Templates

 

This section helps users to populate Skills Framework content into editable Microsoft Word templates.

Step 1: Select template(s)



Step 2: Select Occupation(s)/Job Role(s)

Step 3: Click HERE to Download

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    SKILLS FRAMEWORK WORKSHOP


    We encourage enterprises that are keen to learn how Skills Framework can enhance their Human Resource practices to sign up for the Skills Framework Workshop.

     

    HOW you will benefit

    • Understand the intent and purpose of the Skills Framework
    • Comprehend the components of the Skills Framework
    • Enhance HR practices in the areas of talent attraction, performance and career management, learning and development through the Skills Framework
    • Adopt the Skills Framework to improve people strategy and business outcomes

     

    WHO should attend

    • HR practitioners who: 
      • Develop strategic HR policies and processes
      • Develop in-house workplace learning tools and platforms
      • Review strategic alignment between corporate vision and human capabilities
    • Line managers and leaders who develop and deploy performance support tools

     

    Click HERE to register your interest for the workshop.

     

    SKILLS FRAMEWORK CLINIC


    We encourage enterprises who require further help to apply Skills Framework to sign up for the Skills Framework Clinic.

     

    HOW you will benefit

    • Come with ready problem statements, questions or challenges concerning applying Skills Framework in your enterprise
    • Receive advice on how Skills Framework can be implemented as solutions to attract, empower and develop talent 

     

    WHO should attend

    • HR practitioners who: 
      • Have attended the Skills Framework workshop or are familiar with the Skills Framework
      • Require additional support to better integrate applications of Skills Framework with human resources systems and processes

     

    Click HERE to register your interest for the clinic.