Singapore's Minister for Manpower and Second Minister for Home Affairs, Josephine Teo, officially launched the Professional Conversion Programme (PCP) for Management Accountants at CIMA Centenary Gala Dinner 2019 on Wednesday.
According to a joint release by Workforce Singapore (WSG) and the Singapore Accountancy Commission (SAC), the PCP for Management Accountants (PCP MA) allows local mid-career individuals with an accounting background to embark on careers such as management accounts.
This will be done by deepening their data analytical capabilities and equipping them with new accounting technological tools.
Besides becoming a management accountant, individuals on board the PCP can also take on roles as business analysts, and financial planning & analysis analysts.
Tan Choon Shian, WSG’s Chief Executive, said: "As companies undergo transformation to keep pace with the ongoing economic transformation, there is an increase in demand to use financial data to forecast and guide business decisions. The launch of the PCP for Management Accountant will allow our local accounting professionals to respond more nimbly and swiftly to these shifts in the workplace and stay relevant to meet the demands of the business."
The PCP MA was developed by WSG, SAC, and the Chartered Institute of Management Accountants (CIMA) to provide a pathway for accounting professionals to take on new roles in the digital economy as Management Accountants. It is also part of the industry’s efforts to develop a sustainable pipeline of accounting talents by equipping them with management skills to support strategic business decisions, and is aligned with the Accountancy Roadmap under the Industry Transformation Map for Professional Services.
Evan Law, SAC’s Chief Executive, said: "Today’s business landscape is developing fast. To meet the increasingly sophisticated business needs, accounting professionals need to provide higher value accounting services.
"This Professional Conversion Programme for Management Accountants is timely in helping mid-career PMETs to reskill and take on new job roles in this high growth area. Keeping the workforce relevant and with the ability to add value are critical to capture new growth opportunities in Singapore and the region, as we develop Singapore into a leading global accountancy hub."
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