Workforce and Trade Agreements Strengthened
Singapore will soon introduce recommendations to strengthen its local accountancy workforce, announced Second Minister for Finance Indranee Rajah on Feb 28.
The Accountancy Workforce Review Committee (AWRC), formed in 2022, aims to ensure a steady talent pipeline. As part of this effort, the Singapore Chartered Accountant Qualification has eased requirements, allowing more polytechnic graduates to enter the profession.
Other initiatives include:
Asean Mutual Recognition Arrangement (MRA): A six-month pilot program will speed up trade clearance across six Asean countries, with full implementation by Q3 2024.
Cost-saving measures: In 2023, MOF cut S$1.6 billion in infrastructure costs through careful budgeting and cost-effective solutions.
