EXAMINATION fees for the Singapore Chartered Accountant Qualification (SCAQ) programme will be lower, with effect from June 2024, to attract more individuals to the profession, said Singapore’s accounting industry body on Jan 12 (Friday).

The SCAQ is Singapore’s national professional accountancy qualification and allows one to become a chartered accountant. It is internationally recognised.

In a media statement, the Institute of Singapore Chartered Accountants (Isca) said that the fee revision was part of efforts with the Accounting and Corporate Regulatory Authority (Acra) to make the SCAQ more accessible to individuals.

Both parties have been working with key industry players and members of academia under the Accountancy Workforce Review Committee to strengthen Singapore’s talent pipeline for the accountancy profession, it added.

Noting that the enrolment for the SCAQ has grown over the years due to wider recognition, Isca said that the increased economies of scale has enabled the various SCAQ fees – examination fees, resit fees and exemptions fees – to be lowered for both the SCAQ Foundation Programme and Professional Programme. The new rates will come into effect from the June 2024 examinations onwards.

Fees for the Foundation Programme are now S$375, down from S$500 previously, while fees for the Professional Programme are S$975, down from S$1,300. Resit and exemption fees for both programmes have also been lowered accordingly.

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A new fee category for students has also been introduced for the Foundation and Professional programmes to encourage them to take their SCAQ earlier while pursuing tertiary education.

In addition, Isca will implement measures to enhance learning support for SCAQ candidates, while Acra will continue to maintain oversight of the SCAQ programme.

The statement added that both parties will work together to develop the SCAQ and “provide conducive pathways” for individuals interested in pursuing an accountancy profession.

In November 2023, Acra announced two enhancements to the SCAQ to allow individuals from diverse backgrounds to pursue the qualification. This includes increasing the length of practical experience that counts towards the SCAQ, as well as enhancing pathways to the SCAQ for local polytechnic graduates.

Candidates interested in taking the SCAQ can apply for the June 2024 examinations from Jan 15 to Mar 31.