TAKEAWAYS
The ISCA Conference, a landmark event in the accounting industry, returned in 2025 with a curated lineup of speakers to examine the most pertinent issues affecting business and accountancy.
Breaking with tradition, this year’s event was held at the Golden Village Vivo City cinema on November 12, complete with popcorn and retro snacks for the delegates. Apart from lending a relaxed air to a day of engaging discussions, the venue itself embodied the conference’s central message – the importance of disruption and innovation in an age of rapid change.
Some 2,500 delegates converged on the event venue to hear the perspectives of esteemed speakers spanning government ministers, entrepreneurial leaders, finance executives and industry experts. The plenary sessions set an inspiring tone for the day, addressing how accountants can remain not only relevant but indispensable, as trusted advisors steering businesses through unprecedented transformation.
The conference was opened by ISCA President Mr Teo Ser Luck, FCA (Singapore), and featured a robust programme anchored by keynote addresses and a fireside chat with Ms Indranee Rajah, Minister in the Prime Minister’s Office, and Second Minister for Finance National Development.
This year’s conference had five specialised tracks to reflect the expanding role of accountants. Each was designed to offer deep insights into the specific challenges and opportunities facing different segments of the profession. The targeted content covered the:
The full programme is available here.
The diversity and calibre of speakers from government, multinational corporations, real estate, banking, healthcare and professional services underscored the breadth of expertise required to navigate today’s complex business environment.
ISCA President Mr Teo, in his opening remarks, emphasised the critical importance of embracing change. “A mindset shift is so important at a time when change is normal,” he stated. “ISCA, representing our industry, has to take in these changes, and try to be two steps ahead. This is exactly what we have been trying to do in the past years.”
Mr Teo outlined ISCA’s three-pronged strategic response to disruption, the first of which is building international networks. To this end, the Institute’s social chapters have evolved to become professional services centres – in Ho Chi Minh City, Vietnam, and Nanjing, China – and there are plans for ISCA to expand across Southeast Asia and the Middle East.
In order “to get ahead and gain international knowledge”, Mr Teo underlined the need to “talk widely” and being in the know about what is happening around us and in the broader global environment. This would include keeping pace with the international standards that apply to accountancy, finance and business; as well as governance and other regulatory requirements now, and as they continue to evolve.
The second response to disruption is attracting diverse talent through the SCAQ certification, which enables students from any faculty to become Chartered Accountants. To date, student membership has surged to nearly 10,000, representing 25% of ISCA’s 43,000-strong membership.
The third response is preparing for technological transformation. “This is very real in all aspects, and the Singapore government has already put it as a national agenda,” he said, referencing ISCA’s collaboration with Infocomm Media Development Authority (IMDA) to equip the profession for artificial intelligence (AI) adoption.
Mr Teo highlighted the positive findings from the 2025 Trust Survey conducted by Edelman DXI, in partnership with Chartered Accountants Worldwide. The survey revealed that 88% of respondents from the Singapore business community put their trust in ISCA – an eight-point increase from 2019.
Mr Teo’s essential talking points found resonance in Minister Indranee’s opening address, as she drew attention to statistics demonstrating the profession’s resilience and growth. Referring to ACRA’s latest Accounting Entities Survey 2025, the minister cast the spotlight on progress in three critical areas, namely, growing the talent pipeline, developing new capabilities, and expanding globally.
The profession is showing strong momentum, with median starting salaries for accounting associates rising 10% from $3,800 in 2022 to $4,200 in 2024, outpacing the 7% increase for fresh university graduates. SCAQ enrolments have surged more than threefold, from 853 to over 2,700, while ISCA student membership now includes more than 1,000 members from non-accountancy backgrounds. Beginning January 2026, SCAQ will welcome accounting diploma graduates from ITE and other recognised institutes, further broadening access to the profession. These developments reflect the successful implementation of the Accountancy Workforce Review Committee (AWRC) recommendations to strengthen the sector’s attractiveness and talent pipeline. The expanded pathways also ensure candidates from diverse educational backgrounds can pursue the Chartered Accountant (Singapore) qualification.
The industry’s growth is backed by the indispensable role accountancy plays as stalwarts of a stable, sustainable economy. Minister Indranee revealed that accounting firms’ total revenue for sustainability-related fields has tripled since 2022, with accountants increasingly called upon to lend their skills to areas beyond traditional finance, such as carbon accounting and social impact reporting. She reassured delegates while addressing fears about AI displacement during a subsequent fireside chat moderated by Mr Lee Boon Teck, FCA (Singapore), Regional Managing Partner, Audit & Assurance, of Deloitte Southeast Asia.
The keynote fireside chat featuring Mr Ismail Gafoor, Executive Chairman of PropNex Realty, was moderated by Ms Ang Suat Ching, FCA (Singapore), CFO of Genting Singapore. The session proved to be one of the conference’s more inspiring ones.
Mr Gafoor, who led PropNex for 25 years to become Singapore’s largest listed real estate agency, shared candid insights about leadership, resilience and the indispensable role accountants play in business success.
He emphasised the importance of establishing robust frameworks early, and recounted how Propnex took just seven months to be successfully listed on the Singapore Exchange. His message was clear – strong governance and accounting structures aren’t just compliance requirements; they are foundational to sustainable growth. “Everything has to come back to structure and process, regardless of whether you have 500 or 13,000 staff. A smaller company with no guidance and structure will have more problems than a larger company that puts in the resources and effort to build the right structure,” he pronounced.
Proper frameworks also enable sustainable social impact. Citing PropNex’s evolution from adhoc giving to structured philanthropy, the Executive Chairman maintained, “If the framework and guidance were not there to build upon, and we were just doing things off the cuff, it wouldn’t be sustainable.”
PropNex’s partnership with Community Chest has grown from $100,000 annually to $6 million this year, alongside establishing a foundation with $10 million in seed money for educational bursaries. “It all goes back to the company’s pillars – as we grow, we must give. We cannot grow without giving to the community.” And, “frameworks help every company in a more sustainable way,” he asserted.
The resilience championed by Mr Gafoor reaffirmed Minister Indranee’s thoughts on the mindset needed for the profession’s future success. These involve holding a mental stance where we do not get too comfortable with what we are doing, a willingness to embrace new things, and an openness to learn from younger accountants.
As the conference concluded, the message was clear – in an era of unprecedented disruption, accountants remain indispensable as custodians of trust, architects of sustainable business structures, and strategic advisors guiding organisations through complexity. The profession’s role extends far beyond traditional compliance; accountants are instrumental in shaping Singapore’s economic course, enabling sustainable growth and ensuring businesses remain anchored by strong governance and ethical frameworks.
The venue choice of a cinema, unconventional as it was, proved symbolic. Just as films transport audiences to new worlds and perspectives, ISCA Conference 2025 challenged delegates to reimagine their roles, embrace disruption as opportunity, and lead with purpose in shaping the future of the profession. As Minister Indranee concluded in her opening address, accountants have a very important part to play in Singapore’s growth trajectory as the country marches towards its Singapore Economy 2030 vision.
© 2024 Institute of Singapore Chartered Accountants
