The agreement relates to two professional-level modules on the subjects of financial reporting and assurance, and will allow Singapore QP and CA Program candidates these specific exemptions from each other’s qualification requirements.
The mutual credit recognition applies to the following modules:
• The Financial Reporting (FR) module of the Singapore QP and the Financial Accounting and Reporting (FIN) module of the 2015 or later CAANZ CA Qualification
• The Assurance (AS) module of the Singapore QP and the Audit and Assurance (AAA) module of the 2015 or later CAANZ CA Qualification
Fred Hutchings, president of CAANZ, said the agreement with the Singapore Accountancy Commission is an important step for the two organisations as well as for the CA designation, specifically.
“The more we collaborate and share, the more everyone will benefit from our unique learning program,” Mr Hutchings said.
“We look forward to a long and successful relationship with the SAC as we facilitate the growth of chartered accountants in Australia, New Zealand and Singapore to benefit the industries and markets that chartered accountants work in around the world.”
The MoU will run on a three-year renewable-term basis. Retrospective credits will be available to CAANZ and SAC candidates and members who have successfully completed the recognised financial reporting and assurance modules from 2015 onwards.
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