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PROFESSIONALISMAND TRUST

OF ACCOUNTABILITY,

CELEBRATING

SAC 2013 booklet V8.indd 3 07/08/2013 18:52

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THE SINGAPORECHARTERED ACCOUNTANTA BEACON OF THE ASIAN ECONOMY

SINGAPORE ACCOUNTANCY CONVENTION 2013

Mr Mark Spofforth (left) with Mr Gautam Banerjee

(extreme right), networking over the tea break session

ISCA President Dr Kan explained that the theme for the convention – The Singapore Chartered Accountant: A Beacon of the Asian Economy – is based on the next phase of growth for the accountancy profession.

In his keynote address, DPM Tharman commended the Institute for its bold moves to reshape the profession for the future.


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eld in conjunction with the Institute’s 50th Anniversary, the Singapore Accountancy Convention 2013 and Golden

Jubilee Dinner marked a signifi cant milestone in the Institute’s history. Close to 900 delegates attended the Convention, themed The Singapore Chartered Accountant: A Beacon of the Asian Economy. For the fi rst time, the Institute conducted Pre and Post Convention Workshops on topics related to the Convention’s theme, making this a three-day event.

The Institute was privileged to have Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, as the Guest of Honour for the Singapore Accountancy Convention on 2 July. DPM Tharman offi cially unveiled the Institute’s new name, “Institute of Singapore Chartered Accountants”.

In his keynote address, Mr Tharman said, “It is a privilege and delight to join all of you at the Singapore Accountancy Convention 2013, and most especially because we are commemorating ISCA’s 50th Anniversary. It has been an impressive history, with the Institute continuously adapting and reinventing itself so as to stay relevant amidst Singapore’s changing business landscape. Today, you are the largest professional body in Singapore with over 26,000 members. More importantly, the Institute is poised to play an active part in the next phase of the transformation of our economy. This year, in conjunction with the launch of the Singapore Qualifi cation Programme (QP) and the introduction of the Chartered Accountant of Singapore designation, the Institute is taking on new roles, and appropriately changing its name to the Institute of Singapore Chartered Accountants. I commend the Institute for its bold moves to reshape the profession for the future.”

Held at the Marina Bay Sands Expo & Convention Centre, the event brought together a distinguished lineup of speakers and panellists from around the

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Mrs Chng Sok Hui, Chief Financial Offi cer, DBS Group.

Mr Warren Allen, President, International Federation of Accountants, giving his presentation

Sir David Tweedie, Chairman, International Valuation Standards Council and Former Chairman, International Accounting Standards Board


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world for an exchange of views on the most topical issues impacting the profession. The convention’s theme, “The Singapore Chartered Accountant: A Beacon of the Asian Economy”, is timely as it is based on the next phase of growth for the accountancy profession, and its significance to the development of Singapore as a leading global accountancy hub.

International speakers and panellists at the convention included Mr Warren Allen, President of the International Federation of Accountants, Sir David Tweedie, Chairman of the International Valuation Standards Council and Former Chairman of the International Accounting Standards Board, and Mr Mark Spofforth, Immediate Past President, Institute of Chartered Accountants in England and Wales. They joined other renowned local and overseas panellists and speakers in giving their take on some of the key issues impacting the profession today. ISCA

Mr Chaly Mah, Chief Executive Offi cer, Deloitte Asia-Pacifi c and Deloitte Southeast Asia, giving his presentation

Mr Mark Spofforth, Immediate Past President, Institute of Chartered Accountants in England and Wales (left); and Mr Yeoh Oon Jin, Executive Chairman, PwC Singapore

SINGAPORE ACCOUNTANCY CONVENTION 2013

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Mr Chew Choon Seng, Chairman, Singapore Exchange (left), and Mr Lee Wai Fai, Group Chief Financial Offi cer, United Overseas Bank Limited


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Mr Max Loh, Managing Partner, Asean and Singapore, EY (left), with Mr Tan Wah Yeow, Deputy Managing Partner, KPMG

Mr Gautam Banerjee, Chairman, Blackstone Singapore

Mrs Lee Suet Fern, Senior Partner, Stamford Law

Mr Michael Lim, Chairman, Singapore Accountancy Commission

Mr Ho Tuck Chuen, Group Chief Financial Offi cer, Jurong Town Corporation and ISCA Treasurer

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Panel discussion (from left), with Convention Emcee Ms Melissa Hyak; Ms Goh Ann Nee, Chief Financial Offi cer, City Development Limited; Mr Lim Lee Meng, Senior Partner, RSM Chio Lim LLP; Mr Max Loh, Managing Partner, Asean and Singapore, EY; Mr Tan Wah Yeow, Deputy Managing Partner, KPMG; and Mr Kenneth Yap, Chief Executive, Accounting and Corporate Regulatory Authority


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eld on the same evening, ISCA’s Golden Jubilee Dinner was graced by the presence of more than 1,000 guests. Top

business leaders, C-suite executives, senior partners in the Big Four firms and government officials joined the Guest of Honour, Dr Tony Tan Keng Yam, President of the Republic of Singapore in celebrating the national accountancy body’s 50th birthday.

On this special occasion, President Tony Tan did ISCA the honour of unveiling the ISCA logo, officially making the ISCA brand identity public. President Tony Tan also joined past and present Presidents of the Institute to cut the cake for ISCA’s 50th birthday.

the next phase of its transformation. The Institute has laid the groundwork by expanding its infrastructure and amending its Constitution to be in line with that of a global body. It is now ready to ramp up efforts towards

Singapore President Dr Tony Tan (centre) and MOS Teo Ser Luck (third from left) cutting the ISCA 50th Anniversary cake with the Institute's current and former Presidents

HGuests relived the Institute’s

history through a series of videos covering milestones from the inception of the Singapore Society of Accountants (as it was known then) in 1963 to the present-day Institute of Singapore Chartered Accountants. Captivating performances by local artistes like Claressa Monteiro, the Jeremy Monteiro Trio and Hossan Leong, as well as special appearances by Miss and Mrs Singapore added lustre to the Golden Jubilee Dinner.

Excerpt of Speech by ISCA Advisor and Minister of State for Trade and Industry Mr Teo Ser Luck:

“We are very honoured to have President Tony Tan officially unveil the new ISCA logo. The new logo symbolises the Institute’s move into Mr Lee Fook Chiew (left), and Mr Warren Allen

AN EVENING OF GOLDEN MEMORIES

50TH ANNIVERSARY GOLDEN JUBILEE DINNER

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Asian Insights” is aligned with ISCA’s vision to be a globally recognised accountancy body, bringing value to its members, the profession and wider community. It also encapsulates ISCA’s goal to propel the profession

towards attaining international standing while bringing a unique Asian perspective to the global accountancy arena.

In keeping with our goal to bring value to our members, on the occasion of the Institute’s 50th anniversary, I would like to announce that ISCA will be offering Life Membership to eligible members.

This is to recognise and reward members who have been with the Institute for 50 years. In recognition of their unwavering support of the Institute, these members will be automatically entitled to have their annual membership subscription waived, while retaining the original membership benefits.

I am pleased to announce that not only does ISCA have a new name, it will have a new home, come end of the year. The Institute has made plans to move into a six-storey building in Cecil Street, in the Central Business District, and acquired naming rights for it. The move is designed to better serve the needs of its members, many of whom work in the CBD. With its prime location in the heart of the CBD, the new building, also signals ISCA’s importance to the growth of the accountancy sector and Singapore’s continued success as a financial and business hub.” ISCA

The VIP guest table (top from left) Ms Penny Low, Mr Gan Thiam Poh, Mr Zainal Bin Sapari, MPs from Pasir Ris-Punggol GRC and (seated, from left) Sir David Tweedie, Mr Teo Ser Luck, President Tony Tan, Dr Ernest Kan, Mr Warren Allen, and Ms Lim Soo Hoon, Permanent Secretary, Finance & Performance, Ministry of Finance

Mr Teo Ser Luck (fourth from left), with ISCA Life Members, individuals who have been members of the Institute for 50 years

(from left), ISCA member, reigning Mrs Singapore Christy Lim (in white), gave out the lucky draw prizes; reigning Miss Singapore Lynn Tan added a touch of glamour; Claressa Monteiro sings the ISCA Theme Song — Count On Us

ISCA Advisor Mr Teo Ser Luck delivering the Welcome Address

its vision to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community.

The ISCA brand identity thus retains the Institute’s heritage while moving the brand forward, in line with Singapore’s development into a global accountancy hub. The ISCA brand essence “Global Mindset,

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ACCOUNTING AND VALUATION:

1 JULY 2013 PRE-CONVENTION WORKSHOP

ACCOUNTANTS IN THE DRIVER’S SEAT

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1 Participants listening attentively to the speakers at the Pre-Convention workshop 2 Mr Mark Spofforth, Immediate Past President, Institute of Chartered Accountants in England and Wales 3 Sir David Tweedie, Chairman, International Valuation Standards Committee and Former Chairman, International Accounting Standards Board 4 Mr Lee Fook Chiew, Chief Executive Offi cer, Institute of Singapore Chartered Accountants 5 Dr Ernest Kan, President, Institute of Singapore Chartered Accountants welcoming guests 6 Mr Frankie Chia, Managing Partner & International Liaison Partner, BDO LLP with guests

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THE FUTURE OF CORPORATE REPORTING:

3 JULY 2013 POST-CONVENTION WORKSHOP

IS INTEGRATED REPORTING THE ANSWER?

1 Ms Lim Ai Leen, Executive Director, Technical Knowledge Centre & Quality Assurance, Institute of Singapore Chartered Accountants; Mr Mikkel Larsen, Managing Director, DBS Bank Limited; Mr Chen Voon Hoe, Partner, Financial Services Industry Practice, PwC Singapore; Dr Ernest Kan, President, Institute of Singapore Chartered Accountants; Mr Warren Allen, President, International Federation of Accountants; Mr Paul Druckman, Chief Executive Offi cer, International Integrated Reporting Council; and Mr David Gerald, President, Securities Investors Association (Singapore) 2 Mr Paul Druckman 3 (left) Mr Paul Druckman with (right) Ms Julia Tay, Assistant Chief Executive (Accountancy), Accounting and Corporate Regulatory Authority as a participant looks on 4 Mr Chen Voon Hoe 5 Mr Warren Allen 6 Mr Mikkel Larsen 7,8 Panellists mingling with participants at the Post-Convention workshop

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FROM ICPAS TO ISCA

rom 2 July 2013, the Institute of Certified Public Accountants of Singapore (ICPAS) officially became the Institute of Singapore

Chartered Accountants (ISCA). The development of a distinct brand identity for Institute of Singapore Chartered Accountants (ISCA) is closely linked with the development of the accountancy profession.

With the ambitions for Singapore to be a global accountancy hub, ISCA announced the bold vision to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community.

The new ISCA Brand identity underscores ISCA’s strategic role in the development of Singapore as a global accountancy hub. ISCA is a Designated Entity to confer the

Chartered Accountant of Singapore – CA (Singapore) – designation, a prestigious title that is expected to come with global recognition and international portability. As the Administrator of the Singapore Qualification Programme (Singapore QP), ISCA aims to raise the profile of this post-university professional accountancy qualification programme, helping it to attain international recognition and promoting it as the educational pathway of choice for professional accountants.

The ISCA Brand Essence “A Global Mindset with Asian Insights” encapsulates ISCA’s unique advantages, located strategically in Singapore, the hub of the high-growth Asia Pacific region, and having its sights set on the global accountancy landscape.

FROM ICPAS TO ISCA

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› Resolute› Experienced

› Dynamic

› Driven

› Intelligent

DINNER GUESTS SHARE THEIR VIEWS

HENRY TANManaging Director

Nexia TS

CHRISTY LIM-CHUNG CHAI FANGSenior Lecturer, Section Head,

School of Business & Accountancy, Ngee Ann Polytechnic

The logo commensurates with

the desired grandeur of the

accountancy profession in Singapore,

with the national icon of the lion

as part of the logo.

The Golden Jubilee Dinner was a night

to remember. The videos played

were very well thought-through

and encapsulate our journey of 50

years with apt nostalgic moments

and use of graphics. I specially love

the breaks in between for us to pause

and refl ect/ reminisce before the next

segment is being played.

The logo has a strong Singapore

identity as Lions is so close to our

hearts. It is my hope that this

Lion will roar in this region as

it lead us forward.

Congratulations to ISCA council

and staff for making the 50th

anniversary so meaningful for all

of us. All of us at Nexia TS send

our heartiest congratulations and our

promise of support to ISCA.

ISCA BRAND PERSONALITY THE ISCA BRAND IS

ISCA Advisor MOS Teo presenting the token of appreciation to Singapore President Tony Tan at the launch of the ISCA Logo, with ISCA President Dr Ernest Kan


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ISCA CORPORATE COLOURS The red in the ISCA logo connotes dynamism and leadership. These qualities are necessary for the Institute to advance and promote the accountancy profession to develop Singapore as a leading global accountancy hub.

The blue in the ISCA logo represents:

EXPERIENCE. With 50 years of supporting the development of the accountancy profession, ISCA has the knowledge and know-how to propel Singapore’s accountancy profession onto the global arena.

INTELLIGENCE. ISCA has the expertise in Research, Technical Advisory, Quality Assurance and Industry Development, as well as the network to international thought leaders, to provide thought leadership on key accountancy topics, technical expertise.

PROFESSIONALISM. Professionalism has been a key distinguishing trait of the Institute since its inception. ISCA strives to attain a high level of professionalism by upholding high standards in all we do.

THE LION SYMBOLThe lion symbol underscores ISCA’s country of origin, the Lion City – Singapore. The lion is a majestic animal and enjoys the status of being

The striking lion symbol in the ISCA

logo really stands out for me. Not

only does it have a clear Singapore

identity, it also symbolizes “agility

and daring to change” characteristics.

I want to thank the organising

committee for putting together

such a wonderful programme for

the evening. My colleagues and

I totally enjoyed ourselves.

Congratulations to ISCA on

its 50th anniversary!

What a great milestone this is!

JULIA TAYAssistant Chief Executive (Accountancy), Accounting and Corporate Regulatory

Authority (ACRA)

LUKE LIMChief Executive Offi cer

A.S. Louken

PROFESSOR GARY PANAssociate Dean

(Student Matters), Associate Professor of Accounting (Education)

Singapore Management University

The new ISCA logo is a powerful

symbol of the Institute’s thrust

towards being a strong Asian

leader in the accountancy profession.

It is also rooted in its Singaporean

origin, with the use of the lion

symbol and red colour. The launch

of the new ISCA brand logo during the

Golden Jubilee Dinner was indeed

a defi ning moment in ISCA’s

history. I am honoured to have

been part of it and was

impressed by how

highly organised it was.

The new logo is totally

refreshing. I particularly like

the lion that signifi es vibrancy

and the readiness of ISCA

to charge ahead.

The dinner was a wonderful

reunion that served to recognise

those that had contributed

to ISCA. I was personally touched

by the presence of some of the

founding members and the past

presidents. As a community,

we should continue to

recognise those that contribute

to the profession. My heartiest

congratulations to ISCA for

reaching a signifi cant milestone,

and my best wishes to the

management team as they

press on to bring the Chartered

Accountants of Singapore to the

next phase of professional

excellence and success.

king of the animal kingdom. The Lion symbol thus also refl ects ISCA’s powerful resolve to drive change and achieve success.

THE STYLISED “A”The stylised script in the letter A, with its upward stroke, symbolises dynamism and breakthrough. ISCA


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