In a speech at the Institute of Singapore Chartered Accountants annual dinner, Singapore's Ministry of Finance set out how the accountancy profession should respond to a more complex operating environment shaped by geopolitical pressures, expanding compliance demands, artificial intelligence and sustainability reporting. The speech highlighted capability-building initiatives rather than new regulation, with the main focus on scaling AI adoption and strengthening sustainability-related skills across the profession. A key initiative is AIxAccountancy, described as the first programme co-developed by the Institute of Singapore Chartered Accountants and the Infocomm Media Development Authority under the National AI Impact Programme. It supports the institute's aim to upskill 60,000 accountancy and corporate finance professionals through phased online learning, community support and practical clinics, with free access for institute members and accounting and finance professionals who are Singapore citizens and permanent residents. The Accountant-General's Department is also planning to incorporate the programme into learning and development for 4,000 finance and internal audit officers in the public service. On sustainability, the speech said the Accounting and Corporate Regulatory Authority and the Skills and Workforce Development Agency have jointly curated courses under the SkillsFuture Green Workplace Programme, including the institute's refreshed Sustainability Professional Certification Programme. These courses will receive subsidies of up to 90%, are designed to be modular and stackable, and are expected to benefit more than 300 trainees in the first year of rollout. The speech also pointed to the institute's Sustainability Reporting Professional credential, introduced in March, as part of broader efforts to build multidisciplinary capability in areas such as sustainability, forensics and senior finance leadership.

Original source Back to tracker