The Institute of Singapore Chartered Accountants (ISCA) and the Law Society of Singapore (LawSoc) have signed a Memorandum of Understanding to collaborate on supporting professional services firms as they expand regionally. This partnership, announced on 14 April, aims to address the evolving needs of businesses that require integrated legal, financial, and governance advice across multiple jurisdictions.
A significant aspect of this collaboration is the development of a digital learning platform. This platform will offer on-demand modules, enabling lawyers and accountants to enhance their skills in areas relevant to their daily work. The initiative, a first of its kind, will facilitate cross-learning, allowing legal professionals to gain insights into accounting and finance, whilst accountants can deepen their understanding of legal concepts.
To make the learning platform more accessible, ISCA and LawSoc are partnering with NTUC LearningHub to provide funding options for eligible legal professionals. Continuing Professional Development (CPD) courses will be available through NTUC LearningHub’s Learning eXperience Platform later this year, with funding options such as SkillsFuture Credit and the Union Training Assistance Programme.
The partnership also aims to establish a Professional Services Centre in Singapore. This centre will support both investors and companies looking to expand in Singapore, as well as Singapore-based firms seeking overseas growth. By connecting businesses with coordinated legal and accountancy expertise, the centre will help navigate cross-border requirements and governance expectations.
Teo Ser Luck, President of ISCA, emphasised the importance of this collaboration in building capabilities and supporting Singapore’s professional services ecosystem. Tan Cheng Han, President of the Law Society of Singapore, highlighted the need for closer teamwork between lawyers and accountants to provide comprehensive advice to clients.
This partnership not only strengthens Singapore’s position as a trusted hub for professional services but also enhances the capabilities of its legal and accounting professionals, preparing them for future opportunities in the region.
