Singapore accounting body inks AI deal with Indian counterpart

The deal could extend ISCA's AI programme to India's 1.5 million accounting professionals.

The Institute of Singapore Chartered Accountants (ISCA) has signed a Letter of Cooperation with the Institute of Chartered Accountants of India (ICAI) to explore extending its AI Fluency Programme to ICAI's community of more than 1.5 million members and students.

The proposed arrangement, signed on 21 August, centres on ISCA's approximately 30-hour programme comprising 180 hands-on workplace cases. The curriculum covers three areas: foundational AI skills for everyday professional use, AI applications across accounting, audit, finance and tax functions, and AI leadership and governance.

In parallel, ISCA has approved a proposed Module Exemption Agreement (MEA) with ICAI that would provide exemptions under each body's professional qualification pathways. Exemptions under ISCA's Singapore Chartered Accountant Qualification (SCAQ) for eligible ICAI members take effect from 21 August, though formal execution of the MEA remains subject to approvals in India.

"AI is reshaping the accountancy profession and building AI fluency alongside strong professional expertise will be critical to enabling the profession to adapt and create greater value," said Lee Boon Teck, President of ISCA. "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."

Whilst formal execution of the MEA remains subject to approvals in India, ISCA is implementing the specified SCAQ exemptions for eligible ICAI members with effect from 21 August. The AI collaboration remains subject to relevant approvals and mutually agreed implementation arrangements.