Professional bodies ACCA and IIA Singapore sign collaboration MOU

Focuses on "common interest and mutual value".

ACCA Singapore (the Association of Chartered Certified Accountants) and IIA Singapore (the Institute of Internal Auditors Singapore) announced a Memorandum of Understanding (MoU) to promote further collaboration in areas of common interest and mutual value to members of both professional bodies and the business industry at large.

The MoU comes as a result of a number of previous successful research and other collaborations between ACCA Singapore and IIA Singapore such as the ACCA-IIA Roundtable Discussion on ‘Risk Management under the New Corporate Governance Code’ in October 2012 which was followed by the launch of a joint report on the roundtable findings in February 2013.

This agreement will allow both bodies to continue to partner on mutually beneficial research and technical issues as well as professional development and networking events and opportunities that allow their members to keep abreast with the latest developments and issues impacting the business industry.

Leong Soo Yee, Head of ACCA Singapore said: “ACCA is pleased to build on our relationship with IIA Singapore and the signing of this MoU signifies our commitment to develop a number of future collaborations. ACCA members now have the opportunity to benefit from shared research and event initiatives which will add to their wide knowledge base acquired through the ACCA syllabus. Together with IIA Singapore, we believe that our partnership will help drive Singapore closer to achieving its goals in becoming the leading global accountancy hub for the Asia Pacific region”.

Eric Lim, President of IIA Singapore said: “IIA Singapore shares similar visions to those held by ACCA and this widens the opportunities for future collaborations. ACCA is a global accountancy body held in high esteem and the signing of this MoU opens many possibilities for IIA and ACCA members to share and participate in impactful initiatives together that will have global recognition.”

Wilson Woo, ACCA member and President of the ACCA Singapore branch said: “It is a very exciting time for both ACCA and IIA members as the business landscape is going through new developments and regulatory changes. Our membership base that includes business and accounting professionals of diverse backgrounds from a wide range of industries will need to embrace these challenges. ACCA looks forward to developing new collaborations and initiatives with the IIA that will help members of both bodies to meet these challenges as they progress in their professional development in this current dynamic business landscape in Singapore”.