Photo caption: Mr Michael Izza (right), Chief Executive of ICAEW presents plaque to Cheng Qiang, Dean of School of Accountancy and Lee Kong Chian Chair Professor of Accounting

The School of Accountancy (SoA) of Singapore Management University (SMU) is the first higher education institution in Asia (Undergraduate Programme) to receive 12 Credits for Prior Learning from The Institute of Chartered Accountants in England and Wales (ICAEW).

The ICAEW has recognised the SoA’s Bachelor of Accountancy (BAcc) programme for its Associate Chartered Accountant (ACA) Strategic Credits pathway. Under this strategic partnership, the BAcc students will receive exemptions from 12 out of the 15 examination modules in the ACA qualification programme, beyond the traditional eight. This recognition speaks of the high quality of SoA’s BAcc programme. There are currently only four other accountancy degree programmes in the world that have gained these additional exemptions. 

Through this accelerated route, SoA BAcc students only need to complete the three remaining modules, of which two may be attempted while still studying at SMU, and fulfil the work experience criteria to qualify as an ICAEW ACA.

(L-R: Seow Poh Sun, Associate Prof of Accounting (Education) and Associate Dean (Teaching and Curriculum, SoA; Cheng Qiang, Dean of SoA; Michael Izza, Chief Executive of ICAEW and Mark Billington, Regional Director, S.E.A, ICAEW)

Michael Izza, ICAEW Chief Executive, said: “In today’s fast-paced and competitive environment, there is a real need to equip students with the necessary skills for a professional career in accountancy in a shorter period of time. With these credit exemptions, students can pursue an internationally-recognised chartered accountant qualification and start working more quickly in a profession, which contributes to the success of businesses, organisations and economies around the world. We are pleased to strengthen our partnership with SMU, as this underscores our shared commitment towards developing, training and supporting the talent pool in Singapore and the region.”

Professor Cheng Qiang, Dean of SoA, who received the congratulatory plaque from ICAEW on 29 June 2017 said, “Despite being a young university, this recognition speaks of the high quality of SoA’s BAcc programme and we are proud to be the first in Asia, and the fifth accountancy degree programme in the world to gain these additional four exemptions. Our students will enjoy an accelerated path to obtain the much valued accreditation of a Chartered Accountant.”