ISCA offers support for Singapore accounting, finance professionals during pandemic

SINGAPORE'S national accountancy body, the Institute of Singapore Chartered Accountants (ISCA), on Tuesday rolled out a number of career and learning-support initiatives for accountancy and finance professionals affected by the Covid-19 pandemic. 

One of these is a career microsite which lists accounting and finance-related jobs from Workforce Singapore's (WSG) MyCareersFuture.sg portal, as well as information on relevant government career schemes for such professionals. 

The portal lists about 1,000 vacancies for such jobs, including positions for finance managers, audit managers, tax specialists and accountants, said Indranee Rajah, Minister in the Prime Minister's Office and Second Minister for Finance and Education, in a Facebook post.

From May 18 to 31, ISCA will also work with WSG to hold a virtual career fair.

In a press statement, ISCA adviser and Member of Parliament Teo Ser Luck said the threat of job losses is real amid the coronavirus crisis. "On the other hand, some companies may in fact need finance talent as they restructure their business to adapt to the changing environment," he added.

Another initiative unveiled by ISCA is a Covid-19 Resource Centre for accountancy and finance professionals, which includes technical advice and new announcements.

"Covid-19 raises a wide array of challenges for accounting and auditing professionals, from disruptions in the execution of basic audit procedures such as sighting of original documents and fixed assets, to making complex judgments over the impact of this pandemic on going concern assessments," ISCA said.

Technical resources that are now available include a bulletin to provide accounting guidance, as well as key considerations on how to account for the property tax rebate granted by the Singapore government.

Meanwhile, a new Covid-19 working group will address challenges faced by the accountancy profession through frequently asked questions, such as whether the outbreak is an adjusting or non-adjusting event for entities with a Dec 31, 2019 financial reporting date.

This working group was formed by the accountancy body's auditing and assurance standards committee and financial reporting committee, in collaboration with the Accounting and Corporate Regulatory Authority.

A Covid-19 Navigator has also been launched to direct individuals and businesses to relevant support schemes and resources from the government and ISCA.

To support the learning and development needs of those in the industry during the "circuit-breaker" period, ISCA has curated live webinars and e-learning modules under its eLearning Space. The interactive platform enables participants to ask questions and receive replies from trainers in real time. 

The accountancy body added that there are more than 400 courses in its e-learning course library. A financial assistance scheme is available for ISCA members who wish to attend these courses but have been financially affected by Covid-19.