Discover your dream Career
For Recruiters

ACA, ACCA, CA, CPA, CIMA: which accounting qualification will get you a job in Singapore finance?

You’re looking to start an accounting qualification that will get you a job or advance your career in the Singapore financial services sector. Which one should you choose?

We searched through our CV database to find Singapore-based professionals who work in accounting jobs and who have a mainstream accounting designation (ACA, ACCA, CA, CPA, CIMA) – and we calculated the proportion of people holding each qualification. The chart below shows which qualifications are most popular in Singapore among people in the banking and finance industry.

What are the best accounting qualifications in Singapore? 

At 36%, the Association of Chartered Certified Accountants (ACCA) qualification is the most common in Singapore. The city state is an international hub for accounting talent and ACCA is among the more globally recognised accounting qualifications. ACCA in Singapore works with about 210 “approved employers” that support its qualification, including the Big Four and banks such as Credit Suisse, DBS, HSBC and UOB, says Reuter Chua, head of ACCA Singapore.

Many people starting their accounting careers in the Republic, however, opt for the CA Singapore, run by the Institute of Singapore Chartered Accountants (ISCA). The qualification (rebranded from the CPA Singapore in 2013, with local CPA holders given the new designation) is held by 22% of Singapore accountants on our database. “Singapore CA candidates are very transferable across all accounting functions in banking in Singapore – as are people with international CPAs,” says a Singapore-based recruiter.

The Certified Public Accountant (CPA) qualification is a common route into the Big Four. Accountants in Singapore hold CPAs from a number of foreign markets, in particular Australia (14% of the overall total), a country that is both a source of expat finance talent and a popular destination for Singaporean students.

Only 5% of CVs on our database in Singapore have the Chartered Institute of Management Accountants (CIMA) qualification, reflecting the more specialised nature of management accounting.

And 4% have the Associate Chartered Accountant (ACA) designation, awarded by the Institute of Chartered Accountants in England and Wales (ICAEW). “It’s obviously a good qualification, but in Asia it’s not seen as so international as the ACCA and is mainly held by people who studied in the UK,” says the finance recruiter. However, ICAEW members can now apply to become a CA Singapore, without sitting an exam, via a reciprocal arrangement with the ISCA.

Photo by Crissy Jarvis on Unsplash

Have a confidential story, tip, or comment you’d like to share? Email: smortlock@efinancialcareers.com or Telegram: @simonmortlock

author-card-avatar
AUTHORSimon Mortlock Content Manager
  • Ir
    Irshad ali
    21 March 2021

    The market share of ACCA in Singapore indicates how professional and competent the ACCA members are, as shown by the percentage of finance professional working in the market .ACCA is leading the market with 36% share ,this show how globally accepted accountancy body ACCA is .

  • Im
    Immanuel Fredriq
    15 June 2019

    What about CMA US in Singapore

  • Ne
    Neel Patel
    16 October 2018

    What I was thinking and what I am reading are two different things. Thanks for bringing this real picture forward. It was great reading this.

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Target Partners Executive Search
Regional CFO/Deputy CFO
Target Partners Executive Search
Singapore
Bo Le Leaders Ltd
Semiconductor Equity Analyst
Bo Le Leaders Ltd
Singapore

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.