Singapore Government

SkillsFuture Study Awards

Sector Overview

Singapore is reputed globally as a trusted hub for business and finance, and it is seeing a strong demand for accounting services and expertise.

Accountancy professionals are highly sought after for their expertise and skills. More than just crunching numbers, they help companies to set and achieve their business goals. As the financial backbone of a company and trusted business advisor to businesses, accountancy professionals provide integral accounting and advisory expertise and services to help companies enhance their financial reporting quality, business efficiency and governance practices.

On a national level, accounting professionals play an important role in the growth and development of Singapore’s economy. They foster public trust in financial data and our capital markets; uphold quality of financial reporting; and help organisations create and sustain value and growth.

The accountancy sector currently employs about 100,000 accountancy professionals.

Close to 18,000 accountancy professionals work in 689 accounting firms. The Big 4 accounting firms employ 51% of the 18,000 accountancy professionals in assurance, tax and advisory. This sector is seeing strong growth opportunities as they export their professional services to the region. In 2015, accounting firms have generated more than S$2 billion in annual revenue. By 2020, these firms are expected to employ about 21,000 accountancy professionals as Singapore develops into the leading accountancy hub for the Asia-Pacific region.

Beyond accounting firms, accountancy professionals also work as in-house accountants, internal auditors, risk managers and business valuers in listed companies, MNCs, SMEs, non-profit organisations, charities, government ministries and statutory boards. There are about 82,000 professionals working in this segment. Growth sectors such as banking and finance, healthcare and advanced manufacturing industries will see an increase in demand for accountancy professionals. 

Eligibility Criteria

  • Singaporeans with at least 3 years of work experience in the Accountancy sector
  • Committed to deepening skills in the sector
  • Has track record of contributing to learning and training of self and/or others
  • Must provide proof of admission to the selected course of study
  • Employers’ nominations are highly encouraged. Employers should provide reasons for nomination, details of nominee’s work performance and potential for advancement in the company/sector, and explain how the course of study will help nominee fulfil current and future job requirements
  • Individual applicants should preferably provide a letter of recommendation or testimonial from current or former employer
  • Preferably working in an Accredited Training Organisation (ATO) under the Singapore CA Qualification (For the list of ATOs, please click here)
  • Not a previous recipient of any SkillsFuture Study Award


Supported Courses

Course Institution
Foundation Programme - Singapore CA Qualification Singapore Accountancy Commission
Professional Programme - Singapore CA Qualification
Chartered Valuer and Appraiser Programme* Institute of Valuers and Appraisers of Singapore
Executive Tax Programme Level III Tax Academy of Singapore
Advanced Management Programme in International Ta
NUS-Chicago Booth Emerging CFOs for Asia Programme  National University of Singapore


*Applications will only be considered for applicants who have signed up for the entire programme (3 levels) on the structured learning route. Applicants may submit other courses, which SAC will consider on a case-by-case basis.


Application Period

Course Commencement Period Application Period for
SkillsFuture Study Awards
 1 Jul 2017 to 31 Dec 2017 1 Jun 2017 to 31 Jul 2017

Evaluation Process

Evaluation of applications will take about 6 to 8 weeks after the respective closing dates.

SAC may request for supporting documents or information. Applicants will be assessed on their work experience as well as the usefulness and relevance of the proposed course in helping their career development.

Only shortlisted applicants will be notified. SAC reserves the right not to disclose the reasons for approving or rejecting any application, and to reject any incomplete application.


Enquiries

Email: SkillsFuture_Study_Awards@sac.gov.sg

 

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