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), Singapore Accountancy Commission (SAC) and the Institute of Singapore Chartered Accountants (ISCA), 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 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 in the sector (workforce profiles to be updated in September 2020).

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.
Click here to download the Career Pathways for the Accountancy sector.

 

(iii) Skills Maps

The Skills Maps covers a total of 43 job roles, critical work functions, key tasks and skills and competencies aligned to the ten tracks.
Click here to download the Skills Map.

View the Occupations/Job Roles under the SFw for Accountancy

Assurance

  • Audit Associate/Audit Assistant Associate
  • Audit Senior
  • Audit Manager
  • Audit Partner/Audit Director

Business Valuation

  • Business Valuation Associate/Business Valuation Executive
  • Business Valuation Senior/Business Valuation Senior Executive
  • Business Valuation Manager
  • Business Valuation Partner/Business Valuation Director

Enterprise Risk Management

  • Enterprise Risk Management Associate/Enterprise Risk Management Executive
  • Enterprise Risk Management Senior/Enterprise Risk Management Senior Executive
  • Enterprise Risk Management Manager
  • Chief Risk Officer/Risk Partner/Head of Risk/Enterprise Risk Management Director

Financial Accounting

  • Accounts Executive/Accounts Assistant
  • Accountant/Senior Accounts Executive
  • Finance Manager
  • Treasury Manager
  • Financial Controller
  • Head of Treasury
  • Chief Financial Officer

Financial Forensics

  • Financial Forensics Associate/Financial Forensics Executive
  • Financial Forensics Senior/Financial Forensics Senior Executive
  • Financial Forensics Manager
  • Financial Forensics Director/Financial Forensics Partner

Internal Audit

  • Senior Internal Auditor/Internal Auditor
  • Internal Audit Assistant Manager
  • Internal Audit Senior Manager/Internal Audit Manager
  • Chief Audit Executive/Head of Internal Audit

Management Accounting

  • Accounting Executive
  • Management Accountant/Financial Planning and Analysis Analyst/Business Analyst
  • Financial Planning and Analysis Manager
  • Business Controller/Finance Director

Mergers and Acquisitions

  • Mergers and Acquisitions Associate/Mergers and Acquisitions Executive
  • Mergers and Acquisitions Senior/Mergers and Acquisitions Senior Executive
  • Mergers and Acquisitions Manager
  • Mergers and Acquisitions Partner/Mergers and Acquisitions Director

Restructuring and Insolvency

  • Restructuring and Insolvency Associate/Restructuring and Insolvency Executive
  • Restructuring and Insolvency Senior/Restructuring and Insolvency Senior Executive
  • Restructuring and Insolvency Manager
  • Restructuring and Insolvency Partner/Restructuring and Insolvency Director

Tax

  • Tax Associate/Tax Executive
  • Tax Senior/Tax Senior Executive
  • Tax Manager
  • Tax Partner/Tax Director/Tax Vice President/Head of Tax

 

(iv) Skills and Competencies

The Skills and Competencies identified for each of the job roles fall under two broad classifications: (a) Technical Skills and Competencies, and (b) Critical Core Skills (previously known as Generic Skills and Competencies).


(a) 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 here to download the Overview of Technical Skills and Competencies for the SFw for Accountancy.

View the the Technical Skills and Competencies for the SFw for Accountancy
Click here to download all Technical Skills and Competencies for the SFw for Accountancy.

Assurance

  • Audit Frameworks

  • Auditing and Assurance Standards

  • Auditor Independence

  • Engagement Completion and Reporting

  • Engagement Execution

  • Engagement Planning

  • Engagement Quality Control

  • Engagement Review

Business Management

  • Benchmarking

  • Business Acumen 

  • Business Continuity Management

  • Business Development

  • Business Innovation and Improvement

  • Business Negotiation

  • Business Planning

  • Business Process Analysis 

  • Business Process Management

  • Change Management

  • Conflict Management

  • Corporate and Business Law

  • Disruption Management

  • Finance Business Partnering 

  • Financial Crime Laws and Regulations

  • Information Gathering and Analysis

  • Litigation Support

  • Macroeconomic Analysis

  • Management Decision Making

  • Non-Financial Reporting

  • Performance Management

  • Professional Scepticism and Judgment

  • Professional Standards

  • Project Execution and Control

  • Project Feasibility 

  • Project Management

  • Stakeholder Management

  • Systems Thinking

Digital and Data Management

  • Accounting and Tax Systems

  • Cyber Security

  • Data Analytics 

  • Data Governance 

  • Data Storytelling and Visualisation

  • Digital Forensics

  • Digital Technology  Adoption and Innovation 

  • Digital Technology Environment Scanning

  • Evidence Management 

  • Forensic Data Analytics

  • Infocomm Security and Data Privacy

  • Programming and Coding

Financial and Transaction Management

  • Accounting Standards

  • Capital Expenditure and Investment Evaluation

  • Capital Raising

  • Cash Flow Management

  • Claims Management

  • Cost Management

  • Credit Risk Management

  • Debt Restructuring

  • Financial Analysis

  • Financial Closing

  • Financial Management

  • Financial Modelling

  • Financial Planning

  • Financial Reporting

  • Financial Reporting Quality

  • Financial Statements Analysis

  • Financial Transactions 

  • Group Accounting and Consolidation

  • Post-deal Integration Management

  • Restructuring Insolvency Advisory

  • Transaction Due Diligence

  • Transactional Accounting

  • Treasury Management

  • Valuation

  • Valuation Approaches and Methodologies

  • Valuation Conclusion and Reporting 

  • Valuation of Different Classes of Interest

  • Valuation Research and Analysis

Internal Audit 

  • Due Professional Care

  • Internal Audit Engagement Execution 

  • Internal Audit Engagement Planning 

  • Internal Audit Function Management 

  • Internal Audit Quality Assurance

Risk, Compliance and Governance

  • Audit Compliance

  • Enterprise Risk Management

  • Environment and Social Governance 

  • Fraud Detection and Prevention

  • Fraud Investigation Planning and Execution

  • Fraud Risk Management

  • Governance

  • Internal Controls

  • Professional and Business Ethics

  • Regulatory Compliance

  • Regulatory Risk Assessment

  • Regulatory Strategy

  • Risk Advisory 

  • Risk Appetite and Goal Setting

  • Risk Assessment

  • Risk Management 

 Taxation

  • Tax Advisory

  • Tax Compliance

  • Tax Computation 

  • Tax Controversy Management

  • Tax Implications 

  • Tax Risk Management

  • Taxation Laws

  • Transfer Pricing

(b) Critical Core Skills (previously known as Generic Skills and Competencies) for the SFw for Accountancy

Each job role in every Skills Framework developed has Generic Skills and Competencies (GSCs) identified. The GSCs are employability/transferable skills and competencies.

 

An industry review of the GSCs was conducted in 2019, culminating in the creation of the Critical Core Skills (CCS). Visit this link to access information about the CCS. Users of the Skills Framework can also locate the GSC-to-CCS mapping document and advisory there.


(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. (To be updated in Q4 2020)


(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 (To be updated in Q4 2020).


(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 (To be updated in Q4 2020).

 

(c) View the Training Programmes for Critical Core Skills (previously known as Generic Skills and Competencies or GSCs)

 

These are programmes through which individuals can acquire the Critical Core Skills (CCS), which are transferable and can be applied across sectors. The CCS facilitate employability by supporting individuals in acquiring relevant Technical Skills and Competencies (TSCs) for various job roles in different sectors. Please visit this link to access the list of CCS training programmes offered by the Institutes of Higher Learning.

 

 

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.