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In an effort to boost the standard of accounting as a profession, a new tripartite relationship between CPA Australia, eleven leading Singapore employers and the three local universities has resulted in a $750,000 scholarship programme which was unveiled today.
Endorsed by the National University of Singapore (NUS) School of Business, Singapore Management University (SMU) and Nanyang Technological University (NTU) Business School, the scholarship is the first of its kind to be offered by CPA Australia worldwide.
Together, they represent a co-operative effort to address the skills shortage and raise the standard of the accounting profession in Singapore. The scholarship also aims to play a significant role in increasing the pool of accountants with professional qualifications here.
Over the next five years, participating employers together with CPA Australia, will contribute to fund over 300?accounting students in NTU, NUS and SMU to commence the CPA Program, an internationally recognised post-graduate education course that teaches international knowledge of accounting standards and ethics.
Voicing the tripartite belief, the President of CPA Australia, Mr Alex Malley, said "By giving the brightest students the opportunity to commence both professional qualifications and rewarding internship opportunities before they graduate, we are giving them a head-start on a successful career in accounting."
Mr Malley also pointed to the importance of the scholarship program in encouraging more students to join the accounting profession, thereby addressing the global skills shortage, which he attributes to factors such as the globalisation of business, an ageing workforce and the loss of qualified accountants to other professions such as banking and finance.
As Robert Half Recruitment International observed recently, there are four jobs on the international market for every qualified accountant.
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