The Institute of Singapore Chartered Accountants (ISCA) and the Institute of Chartered Accountants of India (ICAI) have announced a deepened collaboration to enhance artificial intelligence (AI) fluency and professional recognition among accounting professionals. This initiative, formalised on 21 August, involves two key components: the Global AI Fluency Initiative and a proposed Module Exemption Agreement (MEA).
ISCA’s AI Fluency Programme, which is at the heart of the Global AI Fluency Initiative, aims to extend its reach to ICAI’s community of over 1.5 million members and students. The programme, comprising approximately 30 hours of training with 180 hands-on cases, is designed to build essential AI skills across accounting, audit, finance, and tax functions. The collaboration will explore promoting these AI programmes to members of both institutes, facilitating knowledge exchange, and encouraging responsible AI adoption.
In addition to AI training, ISCA has approved a proposed MEA with ICAI to provide specified exemptions under their qualification pathways. This agreement aims to enhance the recognition of professional qualifications between the two institutes, although formal execution is pending necessary approvals in India.
Lee Boon Teck, President of ISCA, highlighted the importance of AI fluency in reshaping the accountancy profession, stating, “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.” Prasanna Kumar D, President of ICAI, echoed this sentiment, emphasising the potential for greater opportunities and professional recognition for members.
These initiatives reflect the longstanding relationship between ISCA and ICAI, aiming to create a future-ready and internationally connected accountancy profession.
