The Institute of Singapore Chartered Accountants and the Kampuchea Institute of CPAs and Auditors signed a memorandum of understanding Wednesday to advance the development of the accounting profession in Singapore and Cambodia.
KICPAA president Khun Darith and ISCA president Teo Ser Luck signed the MOU in Singapore during a visit by the KICPAA.
The MOU envisions greater collaboration between the KICPAA and the ISCA through joint initiatives such as membership pathways, training programs, knowledge exchanges and nurturing the talent pipeline through exchange opportunities for youth in Cambodia and Singapore.
The Asian Development Bank predicts Cambodia’s economy will grow up to 6% by next year, and the country will see increasing demand for accountants, providing an impetus for the KICPAA to advance the profession in Cambodia. By working together more closely, the ISCA and KICPAA hope to support more growth of the profession in the region.
“We are pleased to share our knowledge and strengthen our cooperation with KICPAA through this MOU,” said ISCA president Teo Ser Luck in a statement, as he welcomed delegates from Cambodia. “The MOU establishes a launchpad that will enable us to enhance training programmes for members, promote knowledge exchange, and nurture the accountancy talent pipeline through a global programme. As we enhance our profession, we will also assist in developing the accountancy sector in Cambodia. This cross-border collaboration is a vital part of ISCA’s internationalization plan, as we expand our network in ASEAN to create more opportunities for our members, the business community and the accountancy profession.”
Courtesy of Institute of Singapore Chartered Accountants
“We are confident that through strategic collaboration between ISCA and KICPAA, our accounting and auditing profession will become stronger, boosting our capabilities to strategically support our economies and ensure prosperity and growth for both countries,” said KICPAA president Khun Darith.
The ISCA has been reaching out to other countries beyond Singapore’s borders as well in recent months. In March, the ISCA signed a tripartite MOU with the Institute of Chartered Accountants in England and Wales and the Chongqing Institute of Certified Public Accountants in China, establishing a multifaceted cooperation platform to strengthen research and development, promote knowledge exchange, and increase training programs, with the aim of facilitating the professional and business development of the finance and accounting industries in China and Singapore.
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