Poly grads can now receive subsidised training to become chartered accountants under S$6 million programme
It provides sponsorship for examination costs and other fees
POLYTECHNIC graduates from any discipline can now take the first step towards becoming professional accountants for free, under a new S$6 million initiative aimed at expanding Singapore’s accounting talent pool.
From Monday (Jan 20), diploma holders can enrol in the foundation programme of the Singapore Chartered Accountant Qualification (SCAQ) at no cost, through the newly launched Polytechnic Pathway Programme (PPP).
Previously, enrolment required self-funding, but the PPP now covers all SCAQ-related fees.
The PPP provides sponsorship for examination costs and other fees, along with learning support from the Institute of Singapore Chartered Accountants (Isca) for up to two years after graduation.
The SCAQ, administered by Isca, is the only pathway to attaining the Chartered Accountant (Singapore) qualification. It comprises two parts: a foundation programme and a professional programme.
The foundation programme comprises six modules – with exemptions granted based on prior study – covering areas such as financial reporting, assurance and Singapore taxation.
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Upon completing this stage, candidates can advance to the professional programme, which comprises five modules. (see *Amendment note)
To qualify as a Chartered Accountant (Singapore), candidates must complete all modules in the professional programme and accumulate at least three years of relevant work experience.
Monday’s announcement builds on previous enhancements to the SCAQ programme by Isca – all aimed at expanding the pipeline of candidates pursuing the professional accountancy qualification.
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In November 2023, the programme was opened to non-accountancy polytechnic graduates for the first time.
Currently, more than 110 polytechnic graduates are enrolled in the SCAQ foundation programme, or about 11 per cent of the total foundational candidature.
This number is expected to at least triple by the end of 2025, Isca president Teo Ser Luck told The Business Times.
Professional services firm EY plans to hire at least 300 polytechnic graduates under the PPP over the next three to four years, assurance partner Sam Lo said.
The Big Four firm will provide internships or temporary roles to these graduates as they pursue the foundational portion of the SCAQ, he explained.
Upon completing the foundation programme – which can take up to 1.5 years – candidates may be offered full-time positions, as they progress to the next stage of the qualification process.
“As an employer, we’re flexible enough for them to embark on the learning journey – at the same time, they get to gain their practical experience by working with us,” Lo said. “It’s a win-win situation.”
On Monday, Isca also unveiled the first of six “campus enterprise hubs” at Ngee Ann Polytechnic. These hubs will serve as physical spaces for the national accounting body to engage with students directly.
The other hubs will be launched at Nanyang Polytechnic, Temasek Polytechnic, Singapore Polytechnic, Nanyang Technological University and the Singapore Institute of Management by the end of January.
*Amendment note: Isca has clarified that an earlier version of this article, based on information provided on its website, referred to six modules. It should instead be five.
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