The Rise Of The AI Agent
The accounting profession is no stranger to change. From handwritten ledgers to Excel spreadsheets and now cloud accounting, each shift has redefined how accountants manage data and deliver insights. Today, the next big leap is here – AI Agents – and they are set to reshape the industry in profound ways. For accountants, this means […]
Huge Potential Of Artificial Intelligence
TAKEAWAYS According to a 2024 study, 87% of C-suite executives in Singapore rank generative AI (GenAI) as one of their top three business priorities. In 2025, Singapore’s artificial intelligence (AI) market is projected to reach US$1.4 billion. Despite its growing prominence, AI is often misunderstood. At its core, AI models are merely mathematical constructs. They […]
Applying An Ethical Benchmark To Tax Planning (Part 1 of 3)
TAKEAWAYS The ISCA Ethics Committee (EC) develops the ISCA Code of Professional Conduct and Ethics (EP 100). As part of outreach efforts to raise awareness, the ISCA EC collaborated with the tax experts who wrote this three-part article to shed light on the adoption of the tax planning standards in EP 100 (revised on 20 […]
The AI-Ready Accountant: A Global Perspective
TAKEAWAYS ACCOUNTANCY’S AI MOMENT: FROM READINESS TO REALITY On the bright side, 70% of respondents already use publicly available GenAI (generative artificial intelligence) chatbots, such as ChatGPT and Gemini, to enhance general productivity. However, significant gaps remain in fully leveraging AI for core accountancy tasks like audit, financial planning and analysis. So, how do we […]
TECHNICAL HIGHLIGHTS
AUDITING AND ASSURANCE ISCA Comments On IAASB’s Post-Exposure Consultation: Invitation To Comment Before IAASB Finalizes Narrow Scope Amendments To ISQMs And ISAs As A Result Of Revisions To Definitions Of Listed Entity And Public Interest Entity (PIE) In The IESBA Code IAASB’s final position is different from the position that was presented in the Exposure […]
Takeaways From SBF’s Singapore Budget Symposium 2025
As Singapore’s national accountancy body, ISCA takes a keen interest in the annual budget. Ahead of the budget announcement, it typically engages with its members, business leaders and industry experts through consultative activities such as a survey, focus group sessions and the hallmark ISCA Pre-Budget Roundtable. After the Budget Statement was unveiled, ISCA organised various […]
Impact Measurement For Social Good (Part 2 of 2)
TAKEAWAYS The first part of this two-part article highlighted the growing importance of social impact measurement1 (Ang, 2023a; Ang, 2023b), underlining its role in promoting accountability, responsibility, and transparency to strengthen governance and trust within the people sector. It explored common challenges in applying Social Return on Investment (SROI) (Ang, 2023a) – such as managing […]
Impact Of US Tariffs On Singapore
TAKEAWAYS Just three months into his term, the President of the United States of America (US) has announced additional tariffs across countries, obliterating over US$10 trillion in value in the stock market (or 10% of global gross domestic product), effectively sending widespread panic throughout the world. In Asia, the US dollar has weakened against major […]
Budget 2025: Boost In Corporate Tax Revenue
TAKEAWAYS Amid the flurry of giveaways, Prime Minister Lawrence Wong left one significant announcement late in his Budget 2025 Statement delivered in parliament on February 18. A budget surplus of $6.4 billion or 0.9% of Singapore’s gross domestic product is expected for financial year 2024. This very comfortable fiscal position is expected to continue with […]
Impact Measurement For Social Good (Part 1 of 2)
TAKEAWAYS In my previous articles1 (Ang, 2023a; Ang, 2023b) published in IS Chartered Accountant Journal, I had discussed social innovations within the social impact investment sphere. In this piece, I aim to expand on that discussion by providing case studies and elaborating on the social impact measurement models previously suggested. Before examining the implementation of […]