The Institute of Singapore Chartered Accountants (ISCA) has set aside $5 million to organise the inaugural World Accountancy Forum (WAF) in Singapore in 2025, bringing together around 3,000 top business and accountancy leaders worldwide to discuss key issues and trends in business and accountancy. The theme of the World Accountancy Forum is slated to be “Business Transformations amid Megatrends: Professional Accountants Lead the Way” and it will be held in November 2025.
Announced at ISCA’s Annual Dinner on 1 August 2024, the WAF aims to be the premier global platform to facilitate a meeting of minds between global leaders in business and accountancy such as international standard-setters, professional accountancy associations, and regulators. Accountancy is increasingly playing a proactive role in the most pressing business issues of the day. This includes advising on business strategy, reporting on sustainability, and incorporating the uses and governance of new technologies, like artificial intelligence, into business processes. Increasingly, business and accountancy ecosystems are aligning to achieve universally beneficial objectives. As global issues intensify, the need for strengthened international collaboration has become greater.
As such, Singapore hopes to play a conduit role for businesses and our profession. Prominent international accountancy and business leaders will be invited to share their thoughts and expertise at the forum. In addition, ISCA will welcome global organisations and institutions in business and accountancy, including leading international alliances, professional bodies and business firm networks, to hold their annual meetings and conferences in Singapore, in conjunction with the forum.
ISCA President Mr Teo Ser Luck said: “ISCA is proud to spearhead the World Accountancy Forum. We are hosting this forum to foster dynamic dialogue and the exchange of ideas on pressing issues facing the industry. We hope that this forum will become a cornerstone for future editions that will continue to enhance the business landscape.”
At the Annual Dinner, ISCA also honoured leaders in the accountancy profession with the Distinguished Lifetime Membership (DLM) and Special Appreciation Awards. The DLM, which is conferred to esteemed individuals who have contributed to the accountancy profession, the business community and public service, was awarded to Mr Chaly Mah.
Mr Mah, Chairman of Surbana Jurong Group and Netlink NBN Management Pte Ltd, said: “I am deeply honoured to receive the DLM, joining an esteemed group of DLMs who have contributed extensively to the industry. I hope that the accountancy profession will continue to flourish and inspire future generations of leaders in this field.”
Mr Ong Khiaw Hong, the Singapore Chartered Accountant Qualification (SCAQ) Advisory Panel (represented by Ms Lai Chin Yee, Chairperson of the panel), and the Accountancy Workforce Review Committee (represented by Mr Chaly Mah, Co-Chair of the committee) received the ISCA Special Appreciation Awards. These awards recognise their significant contributions to Singapore’s accountancy and business sectors.
ISCA President Mr Teo Ser Luck said: “The conferment of the Distinguished Lifetime Membership and Special Appreciation Awards is ISCA’s way of recognising trailblazers who have made a profound impact on the accountancy profession. We thank them for their exemplary leadership which will serve as a beacon for future professionals and inspire continued excellence in this industry.”
The DLM is part of ISCA’s efforts to honour individuals who have made significant, long-term contributions to the accounting profession and have played a pivotal role in shaping its future. Since the start of the year, ISCA has seen signs of healthy growth within the profession, with around 1,000 new SCAQ candidate enrolments as of June — more than double the number from the same period last year. ISCA anticipates to close 2024 with the highest enrolment numbers since the programme’s inception.
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