Singapore’s national accountancy body has agreed to deepen cooperation with its Indian counterpart on artificial intelligence training and professional qualification recognition, potentially extending a Singapore-developed AI programme to more than 1.5 million members and students in India.
The Institute of Singapore Chartered Accountants (ISCA) and the Institute of Chartered Accountants of India (ICAI) signed a Letter of Cooperation setting out a framework for a proposed Global AI Fluency Initiative centred on ISCA’s AI Fluency Programme, the organisations said in a statement.
The two organisations will explore extending the programme to ICAI’s professional community of more than 1.5 million members and students, subject to relevant approvals and mutually agreed implementation arrangements.
The roughly 30-hour programme comprises 180 hands-on cases based on workplace applications, covering AI fluency foundations, AI for accounting specialisations, and AI leadership and governance.
It is designed to help accounting professionals identify where AI can add value across accounting, audit, finance and tax while continuing to exercise professional judgement, oversight and responsibility for their work.
“AI is reshaping the accountancy profession and building AI fluency alongside strong professional expertise will be critical to enabling the profession to adapt and create greater value,” ISCA President Lee Boon Teck said. Lee added:
Through the proposed Global AI Fluency initiative, we hope to share Singapore’s experience in practical and responsible AI capability development with a wider professional community and contribute to responsible AI adoption across the global accountancy profession.
The institutes will also explore exchanging AI use cases in accounting, audit, finance and tax, as well as perspectives on governance, responsible adoption, professional learning and capability development.
Separately, ISCA approved a proposed Module Exemption Agreement with ICAI that would provide specified exemptions under their respective qualification pathways for eligible ICAI and ISCA members, supporting greater recognition of professional qualifications.
The agreement has yet to be formally executed and remains subject to necessary approvals in India and completion of remaining formalities.
ISCA, however, said it would implement specified exemptions from the Singapore Chartered Accountant Qualification for eligible ICAI members from Aug. 21. Eligible candidates will still have to meet applicable entry, assessment and remaining qualification requirements.
ICAI President Prasanna Kumar D described the exchange of letters as “a defining step in our shared journey” and “a clear statement of intent” to strengthen recognition between the institutes’ professional qualifications.
“For our members, this opens up the potential for greater opportunities and professional recognition,” Kumar said. “At the same time, our discussions on Artificial Intelligence capability building reflect our shared commitment to strengthening AI capabilities across the profession.”
ISCA, established in 1963, is Singapore’s national accountancy body and administers the Singapore Chartered Accountant Qualification. It supports more than 46,000 members across Singapore and globally.
