New training programme to prepare accounting & finance professionals for the future

New training programme to prepare accounting & finance professionals for the future

By: 
Michelle Zhu
11/10/17, 01:01 pm

SINGAPORE (Oct 11): CPA Australia has partnered Singapore’s NTUC and Employment and Employability Institute (e2i) to launch a new training programme for accounting and finance professionals.

Singaporeans and permanent residents (PRs) will be eligible for training subsidies of over 40% of the course fees.

Called Finance for the Future, the new suite of 20 courses will offer training in the key areas of Finance Operations, Advanced Finance Operations, Business Operations, and Advanced Business Operations.

In a press release on Wednesday, CPA Australia says the programmes to expand professionals’ technical skills in areas like key accounting standards, financial risk management and taxation; as well as business competencies such as data analytics, design thinking and business ethics.

The pathways offered by Finance for the Future also support upward mobility to cater to the needs of professionals progressing from junior-mid level positions to management roles, adds the accounting body.

Citing results from a study commissioned in partnership with EY, CPA Australia highlights that eight in 10 finance leaders surveyed have been found to lack the skills to meet their job requirements in the next decade. Some six in 10 survey participants said they found the new curriculum offered by education and professional bodies inadequate to develop “future-ready skills”.

At the same time, the accounting body notes how emerging greenfield technologies are presently creating new roles in the accountancy sector to give rise to occupations such as data specialists, change managers and business advisors.

“[The survey’s] findings are a wake-up call for all stakeholders in future-skilling our accounting and finance professionals because the profession is facing unprecedented change, with disruptive technology making low-value roles redundant,” says Melvin Yong, Singapore Country Head at CPA Australia and Executive Chairman of PwC Singapore.

“Collaboration between organisations, professional bodies and the government is important to help equip the workforce with future-ready tools and knowledge,” he adds.

The new initiative was announced to 480 businesses, finance and accounting professionals at the CPA Congress 2017, which was organised by CPA Australia and took place today at Raffles City Convention Centre.

This year’s CPA Congress was based on the theme “Connecting the biggest minds”, and discussed the latest pertinent issues faced by businesses including digital innovation strategy, futureproofing finance capabilities, leveraging the gig economy, data privacy, and design thinking.

The event was attended by guest of honour Heng Chee How, Deputy Secretary-General, NTUC and Senior Minister of State in the Prime Minister’s Office.

“The Finance for the Future programme has been designed to cater to current trends and future needs of the finance function. We hope the flexibility of bite-size learning will encourage a discipline of continuous learning among accounting and finance professionals amidst their busy schedules to keep their knowledge ahead of the curve,” says Yong.

Counsels argue over how witnesses' conditioned statements were prepared and used

SINGAPORE (May 23): The prosecution and defence in the 2013 penny stock crash trial on Thursday crossed swords over how conditioned statements had been prepared, and the relevancy of questions raised in cross-examination of these statements. Deputy public prosecutor Peter Koy said questions by the defence counsels for alleged co-conspirators John Soh Chee Wen and Quah Su-Ling were a “distraction from the facts”. “Questions as to what was shown to the witness, what trade and telephone data were shown to the witness, which data was filtered and shown to the witness, are irrelevant to....
Read More >>

Boustead Projects records 2% dip in 4Q earnings to $5.7 mil despite revenue surge

SINGAPORE (May 23): Real estate solutions specialist Boustead Projects posted a 2% drop in earnings to $5.7 million for the 4Q19 ended March, compared to restated earnings of $5.8 million for 4Q18. This brings full year earnings for FY19 to $30.6 million, some 5% higher than earnings of $29.2 million a year ago. The group recorded earnings per share (EPS) of 1.8 cents for 4Q19, the same as a year ago. For FY19, EPS rose to 9.8 cents, compared to 9.1 cents for FY18. The decline in 4Q earnings was mainly due to lower gross margins in design-and-build projects and depreciation incurred o....
Read More >>

Sunpower wins $8.7 mil contract from repeat customer

SINGAPORE (May 23): Sunpower Group, the environmental protection solutions specialist, has signed a RMB43.56 million ($8.7 million) contract with repeat customer Zhejiang Petrochemical Co. Sunpower will provide high-efficiency heat exchangers for one of China’s largest domestic atmospheric and vacuum pressure units with an annual capacity of 10 million tons, which is part of Phase 2 of Zhejiang Petrochemical’s refinery and chemical integration project. The project is part of China’s 13th Five-Year National Petroleum and Chemical Plan. Sunpower started its partnership with Zhengj....
Read More >>