ISCA Welcomes Six New Council Members; Poised to Invest up to $7 Million in Enhancements to SCAQ Programme and International Growth and Expansion in 2025

SINGAPORE - Media OutReach Newswire - 15 May 2025 - The Institute of Singapore Chartered Accountants (ISCA) has announced the election of four newly-elected members, re-election of four existing members, and appointment of two new members to the ISCA Council, which is the governing body of ISCA to approve major policy decisions and oversees matters relating to the governance and membership of the Institute. The newly-elected, re-elected and newly-appointed Council Members will serve as ISCA Council Members for a term of two years until 2027.

The newly-elected Council Members are:

• Ms Ang Suat Ching, Chief Financial Officer, Resorts World at Sentosa Pte Ltd

• Mr Chin Chee Choon, Audit and Assurance Partner, Head of Business Development and Marcomm, Forvis Mazars LLP Singapore

• Mr Lee Eng Kian, Managing Partner, PKF-CAP LLP

• Mr Gajendran S/O Vyapuri, Assurance Partner and Professional Practice Director, EY LLP

The re-elected Council Members are:

• Ms Lo Mun Wai, Audit Partner, KPMG LLP

• Ms Judy Ng, Group Financial Controller, DBS Bank

• Ms Cyndi Pei, Chief Financial Officer, Digital InfraCo Singapore Telecommunications Limited (Singtel)

• Mr Song Yeow Chung, Chief Financial Officer, Old Chang Kee Ltd

In addition, two new members have been appointed to the Council: Ms Esther Wee, Accountant-General and Chief of Government Finance, Accountant-General's Department (AGD), and Mr Tan Boon Gin, Chief Executive Officer, Singapore Exchange Regulation, SGX Group. Ms Wee was appointed by the Ministry of Finance to represent the government on ISCA Council, and Mr Tan is the first non-accountant appointed by the ISCA Council for his extensive experience which enables him to support and advise ISCA on initiatives relating to corporate governance and bring an added lens in terms of regulatory oversight and public interest.

At the AGM, ISCA also announced several key highlights and updates of its performance in the past year:

• Since taking over the administration of the Singapore Chartered Accountant Qualification (SCAQ) programme at the start of the year, ISCA achieved an increase of 47% in enrolments, including overseas SCAQ candidates.

• ISCA recorded a 98.3% membership retention rate in 2024, which is the highest in a decade.

• Ended the year strong with a $5.3M surplus and boosted its reserves to $113.8M (including fair value gains).

• Held membership fees unchanged for the 8th consecutive year, and no fee increase for this coming year as well.

• Expanded our reach globally and set up 12 overseas chapters in 9 countries, with 4 ISCA overseas offices.

In 2025, ISCA is poised to invest up to $7 million in enhancements to the SCAQ as well as international growth and expansion, as part of longer-term growth plans for the Institute. To support this endeavour, the Institute announced its plan to acquire a second property with a value around $55 million, for the purposes of investment and bolstering ISCA's financial health.

ISCA President Mr Teo Ser Luck said, “At this exciting time of strong growth and great potential for ISCA, I'm pleased that our valued members have elected a capable and experienced Council to lead us forward. The Council members bring with them many years of experience from a wide range of industries and sectors — including the public sector, accounting firms, listed companies, and more. Their diverse backgrounds will bring fresh ideas and new perspectives to help advance both ISCA and the accounting profession. Together with the Institute's senior management, we look forward to exploring new opportunities and making 2025 a year of meaningful progress, with new initiatives and key developments for ISCA. At the same time, we remain committed to supporting our members and delivering lasting value.'

For more information on the biographies of the newly-elected, re-elected and appointed Council Members, please refer to the Annex.

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 39,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.