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ISCA Signs MOUs with Indonesian Accountancy Bodies and Education Centre to collaborate on initiatives for accountants in Indonesia and Singapore

Singapore, 23 January 2024 – The Institute of Singapore Chartered Accountants (ISCA) announced the signing of three landmark Memoranda of Understanding (MOUs) with key stakeholders in Indonesia, strengthening international collaboration and fostering new opportunities for the accountancy profession in both countries.

With 26.7 million Indonesian companies, including 650 public accounting firms and 686 accounting services firms with over 40,000 members in Ikatan Akuntan Indonesia (IAI) and Institut Akuntan Publik Indonesia (IAPI), there are a lot of opportunities for competent and qualified accountants, and those who would like to carve out a career in accountancy. The strengthened working relationships between ISCA and the Indonesian accountancy bodies will better support the growth of the profession and businesses in the region.

Strengthening Ties with Indonesian Accountancy Bodies

1. Partnership with Ikatan Akuntan Indonesia (IAI)

ISCA and IAI have entered into a strategic alliance to explore establishing membership pathways for members of both Institutes. This initiative aims to enhance professional mobility and career progression for professional accountants who are working across diverse industries across both markets. 

2. Broader Collaboration with Institut Akuntan Publik Indonesia (IAPI)

ISCA and IAPI have partnered to explore membership pathways, facilitate knowledge and resource sharing, and develop and adapt training programs to meet the evolving needs of the Indonesian and Singaporean markets. Both institutes will collaborate to strengthen support and foster mutual growth for small-and-medium-sized practices (SMPs) in Indonesia and Singapore.

With this MOU, ISCA will be sharing resources available for SMPs with IAPI on a complimentary basis. These resources, if adopted, will help to level up audit quality and enhance the technical competency of the Indonesia SMPs. ISCA and IAPI will collaborate on training initiatives, tailoring content to meet the unique needs of each market, and plan business development trips to Singapore and Indonesia for participating SMPs to explore business opportunities. 

Elevating Professional Education with the London School of Accountancy & Finance (LSAF)

To bride the skills gap and equip Indonesian accountants with in-demand expertise, ISCA has appointed the LSAF as its approved learning centre in Indonesia. 

Learners who are keen to know about the Singapore Chartered Accountant Qualification and other programmes, including the ISCA Professional Business Accountant Programme, the ISCA Financial Forensic Accounting Qualification, and the ISCA Sustainability Professional Certification can reach out to LSAF to find out more. This collaboration empowers accounting professionals in Indonesia to access high-quality training and upskilling opportunities that are aligned with international standards.

Mr. Teo Ser Luck, President of ISCA, said, "These MOUs mark a significant milestone in ISCA's commitment to driving the development of the accountancy profession across the region. By collaborating with IAI, IAPI, and LSAF, we are creating a robust framework for knowledge exchange, professional development, and career advancement for accountants in both Singapore and Indonesia. This combined effort will not only benefit individual professionals but also strengthen the broader accountancy ecosystem and businesses in both countries."

Dr. Ardan Adiperdana, President of IAI, said, “We are cognizant of the profound impact our collaboration will have on the development of the accountancy profession in Indonesia and Singapore. This MOU signifies our commitment to fostering a learning and networking environment that will prepare our accountants to respond to future challenges in the region. IAI is committed to providing our members with opportunities to enhance their professional mobility and career progression through our collaboration with ISCA."

Mr Hendang Tanusdjaja, Chairperson of IAPI, said, “IAPI strongly supports the acceleration of accounting and financial education, along with the promotion of international professional standards for public accountants. This in turn, allows us to enhance public recognition of the role our members play in the economic development of our countries. Public accountants play a vital role in supporting the business ecosystem. Therefore, it is essential to nurture and strengthen our profession to ensure the sustained success of the financial sector as a whole.

Manish Gidwani, CEO and founder of LSAF said, “The set up of the ISCA learning centre in Indonesia means our students now have the same opportunities as students in Singapore to be part of a world-class organisation and start their journey to become chartered accountant Singapore in Indonesia.”

These strategic collaborations underscore ISCA's dedication to fostering international partnerships, creating opportunities for professional development, and contributing to the global advancement of the accountancy profession.

For more information, please contact:

Institute of Singapore Chartered Accountants (ISCA)

Amanda Lim
Assistant Manager, Communications
Tel: 9738 7299
Email: amanda.lim@isca.org.sg 

Ikatan Akuntan Indonesia (IAI)

Monika Nabillya 
Corporate and International Affair
Tel: +62 213 190 4232 ext 700 | +62 811 1055 141
Email: monika@iaiglobal.or.id 

Institut Akuntan Publik Indonesia (IAPI)
Rizky Budi Kristianto 
Division Head of Organization, Institutional Relations, and Professional Development Tel: +62 217 279 5446 | +62 818 4133 53
Email: rizky.budi@iapi.or.id 

London School of Accountancy and Finance (LSAF)
Tyas Kanti 
LSAF Executive Manager
Tel: +62 857 2020 4241
Email: info@lsafglobal.com 

About the Institute of Singapore Chartered Accountants (ISCA)

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 35,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.

Established in 1963, ISCA is an advocate of the interests of the profession.  Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession. 

ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation. 

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries. 

For more information, visit www.isca.org.sg

About Ikatan Akuntan Indonesia (IAI)
The Institute of Indonesia Chartered Accountants or Ikatan Akuntan Indonesia (IAI) is the recognised Professional Accountancy Organisation (PAO) in Indonesia. Established on December 23, 1957, IAI continues to serve and develop the accountancy profession in the country through among others, establishment of the Chartered Accountant (CA) Indonesia qualification and other professional accountancy certifications, continuous education and training, and standard-setting activities.

IAI is home to more than 35,000 Indonesian accountants from different backgrounds; public accountants, educators, private (business) and public (government) sector accountants, tax, and forensic accountants.

The Institute is recognised as a co-founding member of both the ASEAN Federation of Accountants (AFA) and the International Federation of Accountants (IFAC). IAI is also an Associate Member of the Chartered Accountants Worldwide (CAW), reflecting its global recognition for the Chartered Accountant (CA) Indonesia holders. 

For more information, visit www.iaiglobal.or.id.

About Institut Akuntan Publik Indonesia (IAPI)
Ikatan Akuntan Publik Indonesia (IAPI) or the Indonesian Institute of Certified Public Accountants (IICPA) has a long historical background, starting with the founding of the Institute of Indonesia Chartered Accountants or Ikatan Akuntan Indonesia (IAI) in 1957, which was the first association of Indonesia chartered accountants. 

The development of the public accountant profession and organisation in Indonesia is an integral part of the development of domestic and foreign economy, business, investment, and capital markets, as well as the global impact. 

About London School of Accountancy and Finance (LSAF)
Established in 2013, London School of Accountancy and Finance (LSAF) is a recognised learning partner for globally recognised professional accountancy qualifications. LSAF is serving high school students, university students and corporate clients. It has two campuses, one in North Jakarta and one in Bali where it operates within Bali Dwipa University. LSAF is known for its academic rigour in preparing students for world class qualifications and has maintained international accreditations for successfully attaining high passing rates over the past years. LSAF is also known for its strong industry partnership and provides internship and work placements to their students. LSAF also host international students from Malaysia, Korea and India.