SkillsFuture Study Award for
 
Accountancy
Singapore Accountancy Commission (SAC)
Programme is not available for application.
Sector Overview

Singapore is reputed globally as a trusted hub for business and finance, and it is seeing a strong demand for accounting services and expertise.

Accountancy professionals are highly sought after for their expertise and skills. More than just crunching numbers, they help companies to set and achieve their business goals. As the financial backbone of a company and trusted business advisor to businesses, accountancy professionals provide integral accounting and advisory expertise and services to help companies enhance their financial reporting quality, business efficiency and governance practices.

On a national level, accounting professionals play an important role in the growth and development of Singapore’s economy. They foster public trust in financial data and our capital markets; uphold quality of financial reporting; and help organisations create and sustain value and growth.

The accountancy industry currently employs over 100,000 accountancy professionals.

Close to 19,000 accountancy professionals work in 698 accounting firms. The Big 4 accounting firms employ 53% of the 19,000 accountancy professionals in assurance, tax and advisory. This industry is seeing strong growth opportunities as they export their professional services to the region. In 2017, accounting firms have generated more than S$2.3 billion in annual revenue. By 2020, these firms are expected to employ about 21,000 accountancy professionals as Singapore develops into the leading accountancy hub for the Asia-Pacific region.

Beyond accounting firms, accountancy professionals also work as in-house accountants, internal auditors, risk managers and business valuers in listed companies, MNCs, SMEs, non-profit organisations, charities, government ministries and statutory boards. There are about 90,000 professionals working in this segment. Growth sectors such as banking and finance, healthcare and advanced manufacturing industries will see an increase in demand for accountancy professionals.

Minimum Eligibility Criteria
  • Singaporeans with at least 3 years of work experience in the Accountancy industry

  • Committed to deepening skills in the industry

  • Has track record of contributing to learning and training of self and/or others

  • Provide proof of admission to the selected course of study

  • Must not have completed course of study at the point of application

  • Employers’ nominations are highly encouraged. Employers should provide reasons for nomination, details of nominee’s work performance and potential for advancement in the company/industry, and explain how the course of study will help nominee fulfill current and future job requirements

  • Individual applicants should preferably provide a letter of recommendation or testimonial from current or former employer

  • Preferably working in an Accredited Training Organisation (ATO) under the Singapore CA Qualification Programme (For the list of ATOs, please click here)

  • Not a previous recipient of any SkillsFuture Study Award, or a recipient of any government scholarship, government award, or full sponsorship provided by company or external entities for the selected course 

Not all applications will be awarded. In addition to the minimum eligibility criteria, applicants will be assessed on their work experience as well as the usefulness and relevance of the proposed course in helping their career development.


Supported Courses

   Course

   Institution

Foundation Programme – Singapore CA Qualification Singapore Accountancy Commission
Professional Programme – Singapore CA Qualification
Chartered Valuer and Appraiser Programme

(Applications will only be considered for applicants who have signed up for the entire programme (3 levels) on the structured learning route.)      
Institute of Valuers and Appraisers of Singapore
CIMA Professional Qualifications Chartered Institute of Management Accountants 
Executive Tax Programme Level III Tax Academy of Singapore
Financial Forensic Accounting Qualification
Note: Applicants must be prepared to complete all modules under the Qualification.
Institute of Singapore Chartered Accountants 
Global Insolvency Practice Course International Association of Restructuring, Insolvency & Bankruptcy Professionals
Infrastructure and Project Finance Qualification
Note: Applicants must be prepared to complete all modules under the Qualification.
Institute of Singapore Chartered Accountants
 Master of Science in Accounting (Data and Analytics) Singapore Management University 
 Nanyang Enterprise Risk Management
Note: Applicants must be prepared to complete all modules under the Qualification.

 
 Nanyang Technological University

 

Priority will be given to applicants who:

  • are taking a supported course. Applicants taking other courses (excluding conferences, seminars and workshops) will be considered on a case-by-case basis.

  • are able to complete the course within 2 years

  • would still have to pay a course fee of $5000 or more (after all subsidies/sponsorships)


Application Period, Application Process and Evaluation Process

Application Period

1 Dec 2019 to 31 Dec 2019
 

Application Process

Submit the completed application form via the online portal at programmes.myskillsfuture.sg and take note of the application number. To facilitate evaluation of your application, please upload the following documents in the online portal: 

  • CV/Resume stating clearly your work history (work period, designation, organisation, job responsibilities)
  • Employer’s nomination, reflecting work performance and potential for advancement in the company/sector, and explaining how the course of study will help the nominee to fulfil current and future job requirements (if applicable)
  • Record of professional development or training of self and/or others
  • Academic transcript/certificate
  • Details of course if not listed under supported courses
  • Proof of course/training acceptance from training provider
  • Breakdown of course fees paid and proof of course fees payment
  • Breakdown of expected total course fees, sponsorships or other funding and the total nett amount you will incur
  • Relevant documents from organisations on sponsorship (if any)

 

Evaluation
All applications received in the current application window will be evaluated holistically after the closing date. The evaluation process will take 6 to 8 weeks.

SAC may request for supporting documents or information.

Only shortlisted applicants will be notified. SAC reserves the right not to disclose the reasons for approving or rejecting any application, and to reject any incomplete application.


SFSA