A milestone agreement affecting thousands of accountants and finance professionals in Singapore was signed by the Institute of Singapore Chartered Accountants (ISCA) and ACCA in 2005.
The two accountancy bodies have signed a Mutual Recognition Agreement (MRA), which enables ISCA members to be full members of ACCA and vice versa, and enjoy the benefits that both organisations can offer. Accountants working in public practice will still have to satisfy additional national requirements.
According to the MRA, only members of ISCA who have completed the ISCA Professional Examination and have satisfied ACCA's practical experience requirement will be eligible for admission into membership of ACCA. Only ACCA members who have completed the final part of the ACCA examinations and have satisfied the requirements on relevant practical experience, pre-admission course and proficiency in Singapore laws as prescribed by ISCA shall be eligible for admission into membership of ISCA.