Singapore QP Candidate Handbook
advertisement
SINGAPORE QUALIFICATION PROGRAMME CANDIDATE HANDBOOK © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |1 Table of Contents S/N DESCRIPTION 1 Introduction 2 Singapore Accountancy Commission 2.1 Institute of Singapore Chartered Accountants 2.2 Chartered Accountant of Singapore Designation 3 4 4.1 4.2 4.3 4.4 5. 5.1 Singapore QP Framework Applying for the Singapore QP Academic Base 4.1.1 Accredited Accountancy Degrees 4.1.2 Accredited Degrees 4.1.3 Non-Accredited Degrees 4.1.4 Existing Foundation Programme 4.1.5 Exemption from Existing Foundation Programme 4.1.6 Enhanced Foundation Programme 4.1.7 Exemption from Enhanced Foundation Programme Professional Programme 4.2.1 Module Structure and Requirements 4.2.1.1 Ethics and Professionalism Module 4.2.1.2 Financial Reporting Module 4.2.1.3 Assurance Module 4.2.1.4 Business Value, Governance and Risk Module 4.2.1.5 Taxation Module 4.2.1.6 Integrative Business Solutions Module 4.2.2 Syllabus Coverage 4.2.3 Professional Development Workshops Candidate Learning Pack Practical Experience 4.4.1 Required Length and Type of Experience 4.4.2 Record of Practical Experience and Competence 4.4.3 Accredited Training Organisations (ATO) 4.4.4 Training Principal 4.4.5 Approved Mentor Taking the Singapore QP Eligibility and Enrolment Procedures © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |2 5.2 5.3 5.4 5.5 5.6 5.7 5.8 6. 6.1 6.2 6.3 6.4 Enrolment in the Professional Programme Modules 5.2.1 Prerequisite Module – Ethics and Professionalism 5.2.2 Choosing the Appropriate Technical Module(s) 5.2.3 Choosing and Attending the Professional Development Workshops 5.2.4 Taking the Technical Module Examination Taking the Integrative Business Solutions Examination Withdrawal 5.4.1 General Policy 5.4.2 Withdrawal from Ethics and Professionalism module 5.4.3 Withdrawal from Technical Modules and Integrative Business Solutions Module Rescheduling of Professional Development Workshops Attending Make-up Professional Development Workshops Special Needs Validity of Each Module Successfully Completed Assessments, Examinations and Results Structure and Format 6.1.1 Ethics and Professionalism Module 6.1.2 Technical Modules 6.1.3 Integrative Business Solutions Module Pass Requirements 6.2.1 Ethics and Professionalism Module 6.2.2 Technical Modules 6.2.3 Integrative Business Solutions Module Examinations 6.3.1 Entry and Completion Requirements 6.3.2 Examination Rules and Instructions 6.3.3 Examination Day 6.3.3.1 Permitted Materials 6.3.3.2 Prohibited Items 6.3.4 Guideline on Calculators 6.3.5 Examination Dates and Times 6.3.6 Examination Venues 6.3.7 Examination Notification 6.3.8 Personal Identification 6.3.9 Examination Language Medium 6.3.10 Examination Setting Procedures 6.3.11 Examination Marking Procedures Grades and Results © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |3 6.5 6.6 6.7 6.8 6.9 6.10 6.11 Punctuality for Professional Development Workshops Absence from Professional Development Workshops Absence from Examinations Special Considerations in Assessment Examination Appeals Process Examiners’ Report Removal from Candidate Register 6.11.1 Fee Arrears 6.11.2 Time Limits 6.11.3 Misconduct and Removal from Candidate Register 7. Certificate of Completion 8. Applying for the Chartered Accountant of Singapore Designation 9. 9.1 9.2 9.3 Fees and Payment Fees for Singapore QP Candidates Methods of Payment and Procedures Annual Candidature Fee 10. 10.1 10.2 10.3 Enquiries Singapore Accountancy Commission Institute of Singapore Chartered Accountants Other Information Services © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |4 1 Introduction The Candidate Handbook is made available to every Candidate who registers for the Singapore Qualification Programme (Singapore QP). The Candidate Handbook aims to provide detailed information about the Singapore QP and address any queries that a Candidate may have. 2 Singapore Accountancy Commission Established in April 2013 as a statutory body of the Singapore Government, the Singapore Accountancy Commission (SAC) collaborates with local and international communities in order to drive accountancy excellence in Singapore through talent development, professional qualification, research and thought leadership. Taking the Committee to Develop the Accountancy Sector (CDAS) Final Report issued in April 2010 as a guide, the SAC’s goal is to transform Singapore into a leading global accountancy hub for the Asia-Pacific region by 2020. In fulfilling this vision, the SAC seeks to uphold the values of being relevant, insightful, collaborative and advocative. Working with stakeholders including academia and practitioners, the SAC has developed the Singapore QP as one of the key initiatives in our drive to transform Singapore into a leading global accountancy hub. Designed to maximise the opportunities for those seeking global recognition and international portability, the Singapore QP is based on programmes offered by leading professional accountancy bodies in established jurisdictions such as Australia, Hong Kong, New Zealand and the United Kingdom. Lending further distinction to the Singapore QP is the fact that it incorporates the professional accountancy requirements of the Asia Pacific region, taking into account the diverse socio-economic and regulatory profiles of countries in the region. The Singapore QP also meets international education standards issued by the International Accounting Education Standards Board of the International Federation of Accountants. For more information on the SAC, please refer to www.sac.gov.sg. For more information on the Singapore QP, please refer to www.singaporeqp.com . © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |5 2.1 Institute of Singapore Chartered Accountants As highlighted in Recommendation 1 of the CDAS Final Report, the Singapore QP would be administered by the Institute of Singapore Chartered Accountants (ISCA), under the independent oversight of the SAC. ISCA was formally appointed by the SAC as the administrator for the Singapore QP on 1 April 2013. ISCA works with the SAC in raising the profile of the Singapore QP, helping it to attain international recognition, and promote it as the educational pathway of choice for aspiring professional accountants. As administrator for the Singapore QP, ISCA is responsible for programme admission, module enrolment, Professional Development Workshop arrangement, examinations organisation, examination results management, Candidate management and accreditation of employers and universities. For more information on ISCA, please refer to www.isca.org.sg. 2.2 Chartered Accountant of Singapore Designation Candidates who successfully complete the Singapore QP will be eligible to register themselves as Chartered Accountants of Singapore. Pursuant to section 25(1) of the SAC Act, any person who is registered as a chartered accountant under the Act, and no other, may (a) describe himself [herself] as “Chartered Accountant of Singapore”; and (b) use the initials “CA (Singapore)” after his name. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |6 3 Singapore QP Framework The Singapore QP is a post-university professional accountancy qualification with three main components: Academic Base; Professional Programme; and Practical Experience. The inter-relationships between the three components are shown in the following Singapore QP Framework. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |7 4 Applying for the Singapore QP Submit online application Provide the following supporting documents: A photocopy of NRIC (for Singaporeans & PRs) / FIN or passport (for foreigners); A certified true copy of academic certificate(s) of university degree(s) or Statement of Academic Completion issued by the university or equivalent; A certified true copy of academic transcript(s) of university degree(s); A certified true copy of Training Agreement or Official Letter in lieu of the Training Agreement for Practical Experience with the ATO (applicable for applicants who are enrolling for Technical Modules); A certified true copy of Certificate of Completion of Foundation Programme (applicable for non-accredited degree holders who are enrolling for Technical Modules); A certified true copy of Deed Poll (applicable for applicants who have changed their names), and Application fee Application completed? Complete Foundation Programme No No Yes Do you have an accredited accountancy degree? Yes Enrol for Ethics & Professionalism module Form is incomplete/unsigned Incomplete documents Application fee not paid Complete Ethics & Professionalism module Complete the module enrolment form Choose which module(s) to enrol Choose Professional Development Workshop dates Attach Ethics & Professionalism Acknowledgement of Completion page Payment of module enrolment fees Collect Candidate Learning Pack? No Contact ISCA Yes Attend all required Professional Development Workshops? No No No Yes Receive examination docket? Yes Release of exam results © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 Sit for Exam P a g e |8 4.1 Academic Base The Singapore QP builds on the strong foundation established in the Academic Base. To satisfy the requirements of the Academic Base, Candidates must either: Hold an accredited accountancy degree with a five-year validity commencing from the date of conferment; Hold an accredited or non-accredited Degree which must be recognised by the SAC as at least comparable to a three-year undergraduate degree using internationally recognised reference sources and complete the Foundation Programme for Singapore QP with a five-year validity commencing from the date of conferment; or Hold an Advanced Diploma in Accountancy jointly awarded by the Singapore Accountancy Commission-Ngee Ann Polytechnic (SAC-NP) with a five-year validity commencing from the date of conferment. 4.1.1 Accredited Accountancy Degrees To enrol directly into the Professional Programme, Candidates must possess one of the following accredited degrees with a five-year validity period1 commencing from the date of conferment: Bachelor of Accountancy from the Nanyang Technological University; or Bachelor of Business Administration (Accountancy) from the National University of Singapore; or Bachelor of Accountancy from the Singapore Management University; or Bachelor of Accountancy from the SIM University; or Bachelor of Accountancy from the SIM University (part-time); or Master of Professional Accounting from the Singapore Management University; or Master of Science in Accountancy from the Nanyang Technological University (previously known as Master of Business Administration (Accountancy))2 The original and certified true copies of the degree and transcript must be submitted at the time of application into the Singapore QP. 1 Applicants with an accredited degree that exceeds the 5-year validity period may have their working experience considered for direct admission into the Professional Programme on a case-by-case basis. 2 Graduates of the NTU Master of Business Administration (Accountancy) programme may enrol directly into the Professional Programme. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e |9 4.1.2 Accredited Degrees Candidates with accredited degrees are eligible to enrol for the Foundation Programme, and may be eligible for exemptions against one or more areas of the Foundation Programme. The following degrees are considered accredited degrees3: Bachelor of Business Administration from the National University of Singapore; Bachelor of Science in Accounting and Finance from the University of London International Programmes; Bachelor of Science in Accounting with Law from the University of London International Programmes; and Bachelor of Science in Banking and Finance from the University of London International Programme. 4.1.3 Non-Accredited Degrees Applicants with a non-accredited degree are also eligible to enrol for the Foundation Programme. However, the degree must be recognised by the SAC as at least comparable to a three-year undergraduate degree using internationally recognised reference sources. 3 The accredited degrees have been assessed based on the existing syllabus of the Foundation Programme; this may be subject to change when the enhanced Foundation Programme is launched in August 2016. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 10 4.1.4 Existing Foundation Programme The Foundation Programme4 of the Academic Base will develop in graduates the base technical knowledge and skills as well as capacities for inquiry, abstract logical thinking, critical analysis, appropriate communication, personal and interpersonal skills required by the accounting profession. These provide a base for further development during the Professional Programme and Practical Experience. The existing Foundation Programme covers a set of six core syllabus areas: Financial Accounting and Reporting; Management Accounting; Financial Management; Audit and Assurance; Singapore Law; and Singapore Taxation. For the existing Foundation Programme, Candidates will be assessed on these areas using examinations conducted by an Accredited Learning Organisation – Foundation Programme (ALO-FP). Candidates will be awarded a Certificate of Completion by the ALO-FP upon completion of the existing Foundation Programme, and will become eligible to enrol in the Professional Programme. The Certificate of Completion will remain valid for five years, after which Candidates have to retake the Foundation Programme in order to be eligible for the Professional Programme. 4.1.5 Exemption from Foundation Programme Candidates with relevant degree qualification(s) in accounting and/or business from a recognised university may apply to the SAC with the certified true copies of the transcripts, certificates and detailed module syllabi for exemptions, at a fee, against one or more areas of the Foundation Programme. Candidates may refer to the Singapore QP website and the Foundation Programme Syllabus Handbook for more information. 4 With effect from 1 January 2014, applicants must submit the Singapore QP Application Form and follow the instructions stated on the form in order to apply for entry into the Foundation Programme. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 11 4.1.6 Enhanced Foundation Programme The enhanced Foundation Programme will be officially launched in August 2016, with the first Singapore QP Foundation Programme centralised examinations to be held in December 2016. The enhanced Foundation Programme provides an alternate pathway into the Singapore QP, for Candidates who do not have an accredited accountancy degree. The enhanced Foundation Programme of the Academic Base will develop in graduates the base technical knowledge and skills as well as capacities for inquiry, abstract logical thinking, critical analysis, appropriate communication, personal and interpersonal skills required by the accounting profession. These provide a base for further development during the Professional Programme and Practical Experience. The enhanced Foundation Programme covers a set of six core syllabus areas: Principles of Financial Reporting (PFF); Advanced Financial Reporting (AFF); Accounting for Decision Making (ADF); Assurance (ASF); Financial Management (FMF); and Singapore Taxation (TXF). Candidates may choose the following modes of study for the enhanced Foundation Programme: Self-study; or Attend tuition courses with ALO-FPs. Regardless of the mode of study, Candidates will have to sit for the Singapore QP Foundation Programme centralised examinations conducted by the SAC. Upon completion of the enhanced Foundation Programme, Candidates will be awarded a Certificate of Completion by the SAC, and will be eligible to enrol in the Professional Programme. The Certificate of Completion will remain valid for five years, after which Candidates have to retake the enhanced Foundation Programme in order to be eligible for the Professional Programme. Candidates may refer to the FAQs on the enhanced Foundation Programme for more information. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 12 4.1.7 Exemption from Enhanced Foundation Programme Any passes or exemptions obtained by Candidates under the existing Foundation Programme syllabus will gain credit on a module-for-module basis except for the Singapore Law module. Existing Foundation Programme Syllabus Enhanced Syllabus Foundation Programme Audit and Assurance Financial Management Singapore Taxation Management Accounting Assurance Financial Management Singapore Taxation Accounting for Decision Making Financial Accounting and Reporting Principles of Financial Reporting Advanced Financial Reporting There is no ‘Singapore Law’ module equivalent in the enhanced Foundation Programme syllabus. Instead, the core components of the existing ‘Singapore Law’ module have been extracted and embedded in the other enhanced Foundation Programme modules. Singapore Law Any passes or exemptions obtained by Candidates under the existing Foundation Programme syllabus will gain credit on a module-for-module basis except for the Singapore Law module. Candidates must complete the ‘Singapore Law’ module under the existing Foundation Programme by 30 November 2016, failing which they will have to take and complete the enhanced Foundation Programme in its entirety. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 13 4.2 Professional Programme 4.2.1 Module Structure and Requirements The Professional Programme will equip Candidates with the knowledge, skills and professional values that are required of a Chartered Accountant of Singapore. Upon completion of the Professional Programme and the Practical Experience requirements, Candidates will be awarded a Certificate of Completion from the SAC and will be eligible to apply for ISCA membership. The Professional Programme is a self-directed programme which offers flexibility and learning support to suit the study and working needs of Candidates. Candidates must complete the Ethics and Professionalism module before enrolling for the technical modules. The technical modules may be attempted in any sequence. Although there are no formal restrictions on the number of technical modules Candidates could attempt at each examination sitting, Candidates are encouraged to take no more than one technical module at each sitting. Candidates need to pass the four technical modules before being allowed to enrol for the Integrative Business Solutions module. There are two module enrolment periods in each calendar year, in January and July respectively. Module enrolment details are available on the Singapore QP website. The Professional Programme comprises the following modules: Ethics and Professionalism (EP); Financial Reporting (FR); Assurance (AS); Business Value, Governance and Risk (BG); Taxation (TX); and Integrative Business Solutions (IB). 4.2.1.1 Ethics and Professionalism Module The Ethics and Professionalism module introduces Candidates to ethics, personal and professional skills and establish a foundation for developing an independent mindset to compare and question different ethical perspectives. This will ensure that all Candidates have the minimum requisite knowledge in these areas, which will then © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 14 be further developed and integrated into the other modules in the Professional Programme. The module is also designed to comply with International Federation of Accountants (IFAC) Education Standards and the IFAC Code of Ethics for Professional Accountants. The Ethics and Professionalism module provides a base that will be integrated with the other modules in the Professional Programme and the Practical Experience component of the Singapore QP. The module is delivered via an online platform and checks will be in place to ensure that each Candidate has attempted and completed the module. The Candidate will obtain a Certificate of Completion at the end of the module, which is required for the enrolment into the technical modules. The Certificate of Completion for Ethics and Professionalism module has a validity period of one year from the date the certificate is issued. Candidates must apply for their first technical module within this validity period. Once the one year validity period has lapsed, the Candidate would have to reattempt and complete the module before being allowed to enrol for the technical modules. 4.2.1.2 Financial Reporting Module Upon completion of the Financial Reporting module, Candidates will be able to demonstrate knowledge and apply the Singapore Financial Reporting Standards (SFRS) to produce a complete set of financial statements for an entity. They will also be able to explain and advise on the application of the SFRS, demonstrating appropriate professional judgement in the process. The Ethics and Professionalism module must be completed before enrolment in any technical modules. There is no other pre-requisite in the Professional Programme for this module. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 15 4.2.1.3 Assurance Module Upon completion of the Assurance Module, Candidates will be able to analyse, exercise judgment, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments in Singapore and internationally. The Module addresses a wide variety of issues that a Chartered Accountant of Singapore may encounter. It develops the Candidates’ understanding of professional and ethical considerations as well as ensuring they have a broad understanding of the regulatory environment in Singapore. The Module covers procedures in practice management, including quality control and the acceptance and retention of professional engagements; the audit of financial statements including planning, managing, evidence and review, as well as other assignments and reporting. The Ethics and Professionalism module must be completed before enrolment in any technical modules. There is no other pre-requisite in the Professional Programme for this module. It is recommended but not compulsory that Candidates complete the Financial Reporting module before attempting this module. 4.2.1.4 Business Value, Governance and Risk Module Upon completion of the Business Value, Governance and Risk module, Candidates will be able to demonstrate a sound understanding of the basis upon which corporate value is created, maintained sustainably (e.g. sound investment decisions) and protected (e.g. by avoidance of excessive concentration of power and lack of scrutiny of management). Candidates will be able to assess how governance arrangements may prevent long-term dysfunctional behaviour. The module addresses risk management as a key factor in governance and strategy. It develops skills from previous studies in asset valuation in the context of wider considerations of capital investment appraisal, including strategic investment decisions, taking into account underlying financial risk management concepts for effective and responsible decision making. The Ethics and Professionalism module must be completed before enrolment in any technical modules. There is no other pre-requisite in the Professional Programme for this module. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 16 4.2.1.5 Taxation Module Upon completion of the Taxation module, Candidates will be able to deal with the Singapore taxation issues that a general purpose accountant (i.e. an accountant other than one specialising in the provision of tax advice) is likely to encounter, such as income tax from self-employment; employment and investments; the corporation tax liability of individual companies and groups of companies; stamp duty; the goods and services tax liability of businesses; and the types of tax incentives available. Candidates should also be able to appreciate tax planning opportunities under domestic taxation laws. Candidates will also be expected to understand international taxation and comparative tax treatments for financial risk management considerations, though not in a tax planning or advisory role. The Ethics and Professionalism module must be completed before enrolment in any technical modules. There is no other pre-requisite in the Professional Programme for this module. 4.2.1.6 Integrative Business Solutions Module The Integrative Business Solutions module will develop Candidates’ ability to identify business issues and opportunities, and use their knowledge, skills, values, and judgment acquired from the Ethics and Professionalism module, four technical modules, and practical work experience to develop integrative business solutions for relevant stakeholders groups. Higher order knowledge and skills are required to assess strategic positions, business performance, and governance, as well as identify viable options, recommend appropriate plans to achieve strong organisational performance, and provide sustainable value-added solutions. The module requires Candidates to critically analyse business issues and demonstrate strong analytical skills through interpreting and evaluating multidisciplinary business case study/studies. Candidates are only allowed to enrol for the Integrative Business Solutions module upon successful completion of the Ethics and Professionalism module and the four technical modules. In addition, Candidates must have acquired at least two years of relevant practical experience by the time they sit for the Integrative Business Solutions module examination. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 17 4.2.2 Syllabus Coverage The coverage of each module which is defined in competency-based standards is detailed in the respective syllabus handbooks available on the Singapore QP website. Each unit of competency within a field is listed, together with an indication of the depth of skill and knowledge required. 4.2.3 Professional Development Workshops There will be a total of three facilitated Professional Development Workshops (two half-day sessions and one full-day session) for each of the technical modules and the Integrative Business Solutions module. It is compulsory for Candidates to attend all Professional Development Workshops as the Professional Development Workshops are designed around case studies and business applications of technical concepts. The Professional Development Workshops aim to reinforce key learning outcomes of the module syllabi through Professional Development Workshop activities and enhance the non-technical aspects of Candidates including communication, critical thinking and problem-solving skills and ability to work in groups. A Professional Development Workshop group will comprise approximately twenty Candidates led by two qualified Professional Development Workshop Facilitators. Candidates will be assessed on their general participation, individual presentation and teamwork in each of the Professional Development Workshops. To succeed in the Professional Development Workshops, Candidates will be expected to: Substantiate their answers with research; Apply technical knowledge to solve practical problems; Integrate knowledge across technical areas; Work with peers to achieve common goals; and Communicate effectively. The Professional Development Workshops are conducted in English and attendance is compulsory. Candidates are to refer to the Singapore QP website for the most updated Professional Development Workshops schedules. Candidates will select the Professional Development Workshops schedule at the point of module enrolment. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 18 Please refer to the Singapore QP Candidate Guide to Professional Development Workshops for more details about the Professional Development Workshops. 4.3 Candidate Learning Pack All Professional Programme technical modules are complemented with a Candidate Learning Pack developed by the SAC to provide learning support for Candidates. The Candidate Learning Pack for each module comprises a study manual and Professional Development Workshops assessment items. Candidates will also have access to past examination papers to prepare for the examinations. Candidates will receive one set of the Candidate Learning Pack per module enrolled as part of the module enrolment fee. Replacements for the Candidate Learning Pack for each module are available at S$107 (inclusive of GST) per pack per module. To order a replacement, Candidates should contact ISCA to arrange collection of the replacement in person and make payment by cheque or cashiers’ order made out to the “Singapore Accountancy Commission”. Candidates are to take note that only one replacement Candidate Learning Pack is allowed per module per intake. 4.4 Practical Experience Practical Experience is a key component of the Singapore QP. It helps Candidates prove that they have acquired the relevant professional knowledge, skills, attitudes and behaviours required of a Chartered Accountant of Singapore. It sets out a range of competences for Candidates to achieve and ensure that they gain enough experience in one or more relevant roles to show that they have the abilities and maturity expected of a Chartered Accountant of Singapore. The IFAC IES 5, Initial Professional Development – Practical Experience (Revised) recognises that practical experience is relevant in developing the competence of an aspiring professional accountant. IES 5 also “promotes greater flexibility in measuring practical experience; permits practical experience supervisors to direct, advise and assist an aspiring professional accountant’s experience; and requires practical experience to be recorded in a verifiable and consistent form.” © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 19 Singapore QP Candidates are required to acquire relevant practical work experience via a Training Agreement in an Accredited Training Organisation (ATO) under the guidance of an Approved Mentor. ATOs would include public accountancy entities, business enterprises, Not-for-Profit organisations and government agencies. Aspiring Singapore QP Candidates may refer to the Singapore QP website for the updated list of ATOs. 4.4.1 Required Length and Type of Experience Candidates are required to accumulate a minimum of four hundred and fifty working days of core work experience, excluding time off for study leave and examinations, training courses, annual leave, public holidays, illness or office administration. Work experience must be acquired during employment5 with an ATO. Four hundred and fifty days is also the minimum number of days required for ISCA membership upon the completion of the Singapore QP; the total number of days of core work experience could vary based on the demands of the ATO, the recommendation of the Approved Mentor and prior relevant work experience. Core experience involves being involved in ‘real’ practical work of a financial or accounting nature, which can be gained in a number of functional areas. These functional areas may include, but are not limited to: Financial accounting and reporting; Management accounting; Financial management and treasury; Audit and assurance; Taxation; Business development; Business recovery, restructuring and insolvency; and Business Information Technology. Core experience can be gained in a range of functional areas or may be in one area. It would be expected that a significant proportion of this experience should be spent on one or two specific key areas of competence relating to the role or roles within the ATO. If Candidates spend the bulk of the Training Agreement in one area of work, it is necessary that Candidates gain a depth of understanding in that area. 5 Part-time employment of at least three days a week will count towards the experience requirements proportionally, subject to the ATO’s agreement. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 20 Candidates need to demonstrate competences in a number of areas. These fall broadly into two types of competences; generic competences and technical competences. In order to demonstrate the general skills required of a Chartered Accountant, there are nine generic competences laid out in a framework, and Candidates are required to demonstrate how these competences have been acquired. Ethics and Professionalism Professional Ethics, Values and Judgement Risk Management and Compliance Business Awareness and Strategy Generic Competences Organisation and Business Management Information and Technology Critical Thinking, Reasoning, Analysis and Problem Solving Manage and Deliver Activities Personal Effectiveness Self-Awareness Manage Self and Others Business Communication Technical competences enable Candidates to demonstrate different technical skills depending on the role or function. In order to enable this, not all of the technical competences are required to be demonstrated. There are five areas of technical competences. Each area of technical competence is broken down into three elements. Candidates must demonstrate effectiveness in a total of four elements, including one financial reporting element. The five areas of competence are: i. ii. iii. iv. v. Financial reporting; Assurance; Decision support and analysis; Governance and risk; and Taxation. FINANCIAL REPORTING FR1 Accounting for Transactions ASSURANCE AS1 Planning an Engagement FR2 Preparing Financial Reports AS2 Performing an Audit Engagement FR3 Analysing Financial Reports AS3 Audit Review and Reporting © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 DECISION SUPPORT AND ANALYSIS DSA1 Cost Management and Evaluation DSA2 Cash Management, Planning and Budgetary Control DSA3 Appraising Investments GOVERNANCE AND RISK GR1 Identifying and Managing Risk TAXATION TX1 Tax Computations GR2 Designing Internal Controls TX2 Tax Compliance GR3 Monitoring Performance and Accountability TX3 Tax Planning P a g e | 21 4.4.2 Record of Practical Experience and Competence The RPEC is designed to enable Candidates to record evidence of their Practical Experience and competences fulfilled. This experience must be verified by the Approved Mentor during the six-monthly Formal Review and by the Training Principal at the end of the Practical Experience component. The RPEC is contained within the Candidate Guide to Practical Experience and is available for download from the Singapore QP website. Candidates should complete all relevant sections and have them signed off by the Approved Mentor as required. It is recommended that Candidates update the RPEC on a regular basis prior to the official six-monthly meeting with the Approved Mentor. It is suggested that Candidates keep a diary of the Practical Experience (both the responsibilities and duration) and use this to update the RPEC. The diary may take any form and is not required for submission to ISCA. A detailed description of each competency and sub-competence is listed in the Candidate Guide to Practical Experience, which is available on the Singapore QP website. It is the responsibility of each Candidate to record all time spent and competences achieved via the Record of Practical Experience and Competence (RPEC). Candidates are required to keep time records, job sheets, diaries, etc as evidence to support the time recorded in the RPEC. The completed RPEC forms part of the application for ISCA membership upon completion of the Singapore QP so the RPEC must be up to date at all times. Entries into the RPEC must be discussed with and signed off by the Approved Mentor at least twice a year. The Training Principal is required to sign off the RPEC at the end of the Practical Experience component. Should the Candidate leave the employment of their ATO, the RPEC should be up to date and endorsed by the Approved Mentor and Training Principal up to the point of the cessation of the Training Agreement. It is the responsibility of the Candidate to seek and obtain the endorsement and signature of the Approved Mentor for the practical experience gained. Candidates will continue recording the competences in a new RPEC when they join another ATO. Candidates are only allowed to change ATOs once during their Candidature. Subsequent requests for changes are subject to the SAC approval. Please inform the SAC and ISCA if there is any change of ATO. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 22 4.4.3 Accredited Training Organisations (ATO) An ATO refers to an employer that has been certified by the SAC to possess the appropriate standards of staff training, accountancy resources and development for the Candidate to fulfil the Practical Experience requirements. ATOs form a critical part of the Singapore QP, as they provide the training and development opportunities for Candidates to hone the competences and gain valuable practical experience in a professional environment. In order to hire, train and develop Singapore QP Candidates, organisations must first be accredited by the SAC. Candidates must be working for an ATO in order to enrol into the Professional Programme. The Singapore QP website has an updated list of ATOs and it is the responsibility of the individual to approach an ATO for employment. 4.4.4 Training Principal Each ATO appoints a Training Principal who has overall responsibility for supervising the training of Candidates and to confirm that the Candidates have achieved the required standards and competences. The Training Principal must sign off on the Candidate’s RPEC to verify that the Candidate has satisfied all the Practical Experience requirements at the end of the Training Agreement. 4.4.5 Approved Mentors The Training Principal allocates an Approved Mentor to each Candidate and is responsible for ensuring that an Approved Mentor has the necessary qualifications and experience. The Training Principal delegates responsibility for mentoring, reviewing and verifying the Candidates’ RPEC to Approved Mentors. Approved Mentors are responsible for the following: Developing Candidates and discussing training issues; Carrying out six-monthly reviews with allocated Candidates to discuss: a. Modules and study progress; b. Time spent on Practical Experience; c. Action plans from Professional Development Workshops attended; d. Professional Development; © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 23 e. Ethical issues and training; f. Career development; and g. Any other issues affecting the Candidate’s ability to meet the requirements of becoming a Chartered Accountant of Singapore. Signing off the RPEC. The Approved Mentor is the first point of contact for the Candidate within the ATO. The Approved Mentor is responsible for the monitoring and evaluation of the Candidate’s work, and will be the person who verifies that the Candidate has attained the required competences. Candidates are reminded that the Approved Mentor is not a tutor and is not required to assist with assignments and other work assigned as part of the Professional Programme. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 24 5. Taking the Singapore QP 5.1 Eligibility and Enrolment Procedures Applicants must be employed by an ATO before applying as a Singapore QP Candidate. Having successfully applied to become a Singapore QP Candidate, Candidates are eligible to enrol for the Professional Programme technical module(s) after the completion of the Ethics and Professionalism module. Enrolment information (such as enrolment deadlines, procedures and forms) is available on the Singapore QP website. Candidates will not be automatically enrolled into the modules. It is the Candidate’s responsibility to observe the deadline for module enrolment and ensure that all required documents together with the fees prescribed by the SAC are submitted on or before the specified deadline. Module enrolment forms are available on the Singapore QP Candidate portal. Eligible Candidates can enrol for the Professional Programme modules anytime during the enrolment period for each intake. Candidates are required to submit a scanned copy of the first page of their RPEC via the Singapore QP Candidate portal for enrolment of each technical module6. The RPEC should be reviewed and signed off by their Approved Mentors less than six months prior to the commencement of the technical module enrolment period. As Candidates are most likely to be working on a full-time basis, Candidates are encouraged to take no more than one technical module at each examination sitting. Candidates may take the technical modules in any order after completing the Ethics and Professionalism module. 6 This is not applicable for enrolment of the first technical module, if Candidates’ RPEC is not due for the first review with their Approved Mentor. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 25 5.2 Enrolment in the Professional Programme Modules 5.2.1 Pre-requisite Module – Ethics and Professionalism The Ethics and Professionalism module is a pre-requisite to the technical modules, and must be completed prior to the commencement of a technical module. The Ethics and Professionalism module provides a base, which will enable integration of Ethics and Professionalism throughout the five remaining modules in the programme. The Ethics and Professionalism module is also integrated into the Practical Experience component of the Singapore QP. 5.2.2 Choosing the Appropriate Technical Module(s) Enrolment in a technical module is only permitted once a Candidate has signed a Training Agreement with an ATO and completed the Ethics and Professionalism module. The Training Agreement supports the practical and applied nature of the content of the technical modules. The four technical modules are designed such that they can be taken in any order. A strong knowledge and application of Accounting Standards, Statutes, Regulations, and relevant Codes provide the foundation for passing the Singapore QP exams. As such, it is recommended that the Candidate attempt the Financial Reporting Module first. In addition, to complement the applied nature of the modules, it is recommended that the Candidate has at least six months’ relevant work experience before commencing their first technical module. 5.2.3 Choosing and Attending the Professional Development Workshops Candidates are able to indicate their preferred dates for the relevant Professional Development Workshops during module enrolment. It is compulsory for Candidates to attend the Professional Development Workshops as the Professional Development Workshops are designed around case studies and business applications of technical concepts. The Professional Development Workshops are formally assessed, and contribute to the Candidate’s overall grade for each module. It is the Candidate’s responsibility to attend all three Professional Development Workshops for each of the modules enrolled. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 26 If a Candidate is unable to attend a Professional Development Workshop(s) after signing up, they could: (a) Apply to ISCA for a change of Professional Development Workshop schedule at least five working days before the commencement of the scheduled Professional Development Workshops. A non-refundable administrative fee of S$107 (inclusive of GST) payable to the ‘Singapore Accountancy Commission’ will be imposed even if the change could not be arranged; (b) Apply for special consideration with reasons and supporting documents within three working days from the day of absence. Valid reasons for special consideration include, but are not limited to, medical leave, compassionate grounds and National Service obligations. Candidates are only allowed to apply for special consideration once per module per intake; or (c) Apply to ISCA to attend a make-up Professional Development Workshop if the absence is due to work exigencies. A non-refundable administrative fee of S$1,090 (inclusive of GST) payable to the ‘Singapore Accountancy Commission’ is charged. The application is subject to approval on a case-by-case basis by the SAC. 5.2.4 Taking the Technical Module Examination A written examination will be held at the end of the intake. Candidates will only be allowed to sit for the examination after attending all three Professional Development Workshops for the module, unless special consideration has been granted as indicated in section 5.2.3(b). The technical module examinations are held in June and December each year. The examination dates will be available on the Singapore QP website. Candidates will be notified of the examination schedule, venue, seat number and Candidate number two weeks before the actual examination date via email. 5.3 Taking the Integrative Business Solutions Examination Candidates will only be allowed to enrol for the Integrative Business Solutions capstone module upon completion of the Ethics and Professionalism module and passing the four technical modules. Candidates can only attempt the Integrative © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 27 Business Solutions module after acquiring at least two years of full-time working experience. Candidates do not have to complete the Practical Experience component before taking the Integrative Business Solutions examination. A written examination will be held at the end of the intake. Candidates will only be allowed to sit for the examination after attending all three Professional Development Workshops for the module, unless special consideration has been granted as indicated in section 5.2.3(b). The examinations will take place in December of each year (commencing only in December 2015). The examination dates will be available on the Singapore QP website. Candidates will be notified of the examination schedule, venue, seat number and Candidate number two weeks before the actual examination date via email. 5.4 Withdrawal 5.4.1 General Policy The enrolment in a Professional Programme module is regarded as an attempt in that module. The Candidate shall submit the module withdrawal form together with the reason(s) for withdrawal and documentary evidence to ISCA. The withdrawal form is available on the Singapore QP website. Depending on the validity of the reason(s) and time of withdrawal application, Candidates may be eligible for refund of the module enrolment fee. 5.4.2 Withdrawal from Ethics and Professionalism Module Candidates will be provided with a unique username, password, password expiry date and the URL to access the online Ethics and Professionalism module upon successful enrolment in the module. No refund will be provided for withdrawal from the Ethics and Professionalism module. 5.4.3 Withdrawal from Technical Modules and Integrative Business Solutions Module Candidates are allowed to withdraw from a module by submitting a module withdrawal form and reason(s) for withdrawal. Eligibility for a module fee refund and © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 28 the grades that will be reflected on the results slip will be determined on a case-bycase basis as shown in the table below: Before commencement of Professional Development Workshops for the Intake (2 weeks before the 1st Professional Development Workshop for the Intake): After submission of the With valid reasons7 - Withdrawal allowed; enrolment form and payment - Candidate will be provided of fees to the SAC with a full refund if they have not collected the Candidate Learning Pack; - Candidate who has collected the learning materials will have the cost of the Candidate Learning Pack deducted from the refund amount regardless of whether the learning materials are returned. After submission of the Without valid reasons Withdrawal with no refund. enrolment form and payment of fees to SAC After commencement of Professional Development Workshops: Candidate who withdraws With or without valid - Automatically withdrawn with after attending one reasons no refund; Professional Development - Candidate will be required to Workshop re-take all Professional Development Workshops followed by the module examination in the next intake in order to complete the module; - A new set of module fees will be payable; - Results slip for the current intake will indicate “Withdrawn” for the Professional Development Workshop and module examination. 7 Valid reasons are limited to only medical, compassionate and National Service obligations. The SAC and ISCA do not consider work exigencies to be valid reasons. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 29 Candidate who withdraws after attending two Professional Development Workshops8 With valid reasons Candidate who withdraws after attending three Professional Development Workshops With valid reasons Candidate who withdraws after attending two/three Professional Development Workshops Without valid reasons - Withdrawal with no refund; - Candidates will be required to re-take all the Professional Development Workshops followed by the module examination in the next intake in order to complete the module; - A new set of module fees will be payable; -Results slip for the current intake will indicate “Withdrawn” for the module examination. - Withdrawal with no refund; - Candidate may be allowed to sit for the module examination in the next intake on a case-bycase basis and no payment of fees is required - The Professional Development Workshop results will be carried over to the next intake9; - Results slip for the current intake will indicate “Incomplete” for the module examination. - Withdrawal with no refund; - Candidates will be required to re-take all the Professional Development Workshops followed by the module examination in the next intake in order to complete the module; - A new set of module fees will be payable; - Results slip for the current intake will indicate “Withdrawn” for the Professional Development Workshop and module examination. 8 A weighted average approach will be used to calculate the overall Professional Development Workshop results. Candidates should be aware that missing any of the Professional Development Workshops, particularly Professional Development Workshop 3, will have an impact on the Candidate's overall workshop results. 9 The Professional Development Workshop results shall only be carried forward for one intake. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 30 5.5 Rescheduling of Professional Development Workshops Candidates who wish to reschedule their Professional Development Workshop must submit the Reschedule of Date for Professional Development Workshop Request form and ensure that it reaches ISCA at least five working days prior to their scheduled Professional Development Workshop date. A non-refundable administrative fee of S$107 (inclusive of GST) made payable to the ‘Singapore Accountancy Commission’ will be charged for each transfer request even if the transfer cannot be arranged. 5.6 Attending Make-up Professional Development Workshop Candidates may apply to attend one session of make-up Professional Development Workshop if they are absent for one session of Professional Development Workshop due to work exigencies, provided the following conditions are met: a) It is compulsory to attend one make-up session AND the other two allocated PD Workshops to be eligible to sit for the written examination. A separate fee of S$1,090 (inclusive of GST) will be charged for the make-up session. This fee is in addition to the technical module enrolment fee of S$963 (inclusive of GST) already paid; b) The request must be supported by the ATO, and sent to ISCA via singaporeqp_exam@isca.org.sg by the ATO’s Training Principal by the stipulated time stated on the Singapore QP website; c) For the make-up session dates, please refer to the Singapore QP website; d) Candidates are only allowed to request to attend a make-up Workshop due to work exigencies once per module; and e) The request is subject to approval on a case-by-case basis by the SAC. A non-refundable administrative fee of S$1,090 (inclusive of GST) made payable to ‘Singapore Accountancy Commission’ will be charged for each request. For further details, please submit an online query via the Singapore QP Portal (by clicking on ‘Ask a Question’). © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 31 5.7 Special Needs Arrangements may be made for Candidates who have special needs. Candidates requiring special facilities should contact ISCA and indicate these requirements when they submit their Professional Programme module enrolment forms or via email, along with documentary evidence such as medical evidence about the nature of the disability to substantiate the special request. Requests for special arrangements may result in an additional charges being levied on the Candidate. 5.8 Validity of Each Module Successfully Completed The results of each technical module will remain valid for a period of six years. Candidates who have not completed the Professional Programme within the six-year module-allowable limit will be required to re-enrol and successfully complete all modules that fall outside this time limit. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 32 6. Assessments, Examinations and Results 6.1 Structure and Format 6.1.1 Ethics and Professionalism Module The Ethics and Professionalism module will be delivered online without formal assessment. Completion of the Ethics and Professionalism module is compulsory in order to enrol in the technical modules. To ensure that each Candidate has made an acceptable attempt at the module, Candidates are required to produce the Certificate of Completion before enrolling in any technical module. 6.1.2 Technical Modules The four technical modules are assessed as follows: Professional Development Workshops Examination 20% 80% The components of assessment10 for the Professional Development Workshops are as follows: General Participation Individual Presentation Teamwork & Group Presentation Total 10% 5% 5% 20% The examinations are open-book, essay and case-study based, with the exception being the Taxation module, which is a ‘Restricted Open-Book’ examination. For more details on permitted materials, please refer to Section 6.3.3.1. For each technical module, the examination is three hours fifteen minutes (inclusive of fifteen minutes reading time) with four questions and sub-questions requiring written responses. Annotations are allowed on the question papers during reading time. 10 For a detailed breakdown of the components of assessment for the Professional Development Workshops, please refer to the Singapore QP Candidate Guide to Professional Development Workshops. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 33 6.1.3 Integrative Business Solutions Module The Integrative Business Solutions module will be assessed as follows: Professional Development Workshops Examination 40% 60% The components of assessment for the Professional Development Workshops are as follows: General Participation Teamwork & Group Presentation Total 20% 20% 40% The examination for the Integrative Business Solutions module will be open-book. The examination is four hours and thirty minutes (inclusive of thirty minutes reading time), case-study based, with four elements requiring written responses in a report format. Candidates are only allowed to make annotations on the question paper during the thirty minutes reading time. Writing on answer booklets is strictly prohibited during the reading time. 6.2 Pass Requirements 6.2.1 Ethics and Professionalism Module Candidates are required to complete the Ethics and Professionalism module and produce the Certificate of Completion before enrolling in any technical module. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 34 6.2.2 Technical Modules Assessment for each technical module includes both Professional Development Workshop and examination assessments. The pass requirements for each technical module are as follows: a. Achieve at least 50% of the available marks for the examination; and b. Achieve at least 50% of the module overall (Professional Development Workshops and examination). In order to be eligible to attempt the examination, it is compulsory for all Candidates to attend all three Professional Development Workshops for each technical module, unless special consideration is granted. 6.2.3 Integrative Business Solutions Module Assessment for the Integrative Business Solutions module includes both Professional Development Workshop and examination assessments. The pass requirements for the Integrative Business Solutions module are as follows: a. Achieve at least 50% of the available marks for the examination; and b. Achieve at least 50% of the module overall (Professional Development Workshops and examination). Candidates are required to complete the Ethics and Professionalism module and pass all four technical modules before enrolling in the Integrative Business Solutions module. Candidates may only attempt the Integrative Business Solutions module examination after acquiring at least two years of working experience. In order to be eligible to take the examination, it is compulsory for all Candidates to attend all three Professional Development Workshops for the Integrative Business Solutions module, unless special consideration has been granted. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 35 6.3 Examinations 6.3.1 Entry and Completion Requirements The technical modules of the Professional Programme may be taken in any order. Candidates have the option of taking any number of modules per intake, subject to module availability. A written examination will be held at the end of the intake. Candidates are allowed to sit for the examination after attending all three Professional Development Workshops for each module, unless special consideration is granted. 6.3.2 Examination Rules and Instructions Candidates should read the Examination Rules and the Instructions prior to the examination. Failure to observe any of these rules or instructions may result in disqualification from the entire examination. These rules and instructions will be sent together with the examination notification email and the examination docket. Candidates must print out and bring along the hard copy of the examination docket for verification on the examination day. 6.3.3 Examination Day The examination will commence promptly at the time and venue indicated on the examination notification email. Candidates are advised to enter the examination hall ten minutes before the start of the examination and to be seated at least five minutes before the start of the examination. Candidates who are more than 30 minutes late for the start of the examination will be barred from entering the examination venue. Candidates are required to comply with all instructions issued by the Examination Invigilator and/or the Invigilators/staff before and during the examination session. Candidates must present the examination docket and photo identification card (photo ID) for verification before the start of the examination. The identification number indicated on the examination docket must match that displayed on the photo identification card. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 36 Candidates are not allowed to leave the examination hall during the first thirty minutes of the examination and during the last fifteen minutes of the examination. The invigilator will collect all examination papers and answer booklets at the end of the examination. Candidates are to remain seated until permission is given to leave the examination hall. Invigilators are not permitted to answer questions from Candidates about alleged ambiguities or inaccuracies in any aspect of the examination paper. 6.3.3.1 Permitted Materials Candidates MUST bring their own writing materials and calculators. No Candidate will be permitted to obtain extra books or other materials after the examination has commenced. Candidates must only use the answer booklets provided in the examination hall. Answers submitted on other paper not issued by the invigilators will not be marked. For the Taxation Module This is a ‘Restricted Open-Book’ examination. Candidates are only allowed to bring the following materials into the examination hall: 1. One A4-sized double-sided cheat sheet; and 2. Statutes as follows: Income Tax Act, Cap 134 The Goods and Services Tax Act, Cap 117A The Goods and Services Tax (General) Regulations, Cap 117A Both Acts can be downloaded from the Attorney-General Chamber’s ‘Singapore Statutes On-line’ website: http://statutes.agc.gov.sg/ There should be no annotations, highlights or tags on both Acts, i.e. ONLY CLEAN COPIES of the Acts are allowed in the examination hall. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 37 For All Other Modules Candidates may bring into the examination hall any reference materials that they believe to be relevant and which may assist them in the examination, such as the Candidate Learning Pack, readings and prepared notes. Candidates are also permitted to bring printed dictionaries and printed translation guides. 6.3.3.2 Prohibited Items Candidates may not use any form of electronic device to communicate within the examination hall or with persons outside the examination hall. All electronic beeping and transmission devices including mobile phones and PDAs are to be switched off during the examination. The following equipment is not permitted in the examination hall: Laptops; Pagers; Mobile phones; or Any other programmable or electronic devices able to transmit or receive information (such as smart phones) All other personal belongings (including all electronic devices) are to be placed in the designated area allocated in the examination hall. No food or drinks are to be brought to the examination table except water in a clear bottle. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 38 6.3.4 Guideline on Calculators This section serves to provide guidance on the types of acceptable calculators. Please remember that Candidates are required to show all workings to numerical calculations. Markers will only award marks for workings that are written in the answer booklets. Acceptable Calculators Silent calculators, with a visual display only; Calculators with standard memory functions; Scientific calculators, including those with basic numerical programming functions; and Solar-powered calculators. Unacceptable Calculators Calculators with permanent features of a programmable kind e.g. calculators capable of numerical integration, numerical differentiation, and/or expressing in irrational number form; Calculators with special communication features e.g. calculators with the capability of remote communication via infra-red or blue-tooth with other devices; Calculators with capabilities for storing and displaying visual, textual or verbal information; Calculators which do not have their own internal power supply; Calculators with graphical displays; and Calculators found within mobile phones and other electronic devices. Please refer to Annexure A11 for the list of acceptable calculators. 6.3.5 Examination Dates and Time The exact examination dates will be made available in advance on the Singapore QP website. Candidates are advised to plan their schedule ahead before enrolling in a particular module. 11 The list of acceptable calculators in Annexure A is meant to serve as a guide only, and is not meant to be an exhaustive list. It is the responsibility of the Candidates to ensure that their calculators have functionalities that are acceptable and admissible for use during the Singapore QP examinations. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 39 Candidates are advised to check the Singapore QP website regularly for any updates on the examination dates for the four technical module examinations and the Integrative Business Solution examination. 6.3.6 Examination Venues The examination venues will be made available to Candidates who have successfully enrolled for the module(s). 6.3.7 Examination Notification Candidates will be notified about the examination via email and SMS: Two weeks (emails and SMS); and One day (SMS reminder) before the date of the examination. Candidates who do not receive their notification two weeks before the examination should contact ISCA immediately. Candidates are requested to take note of the relevant announcements on the Singapore QP website. An examination docket will be sent together with the examination notification email. The examination docket contains important information such as the examination module, venue, time, unique examination docket number, date, seat number and instructions to Candidates. Candidates are required to print and bring along the examination docket as it serves as a personal identification document and entry permit to the examination centre. Candidates should check and notify ISCA immediately if errors are found in their examination notification email and/or docket. 6.3.8 Personal Identification Candidates are required to bring their photo identification card and the examination docket to the examination centre on the day of the examination. Those who fail to produce such identification documents or whose identity cannot be satisfactorily verified will not be permitted to sit for the examination. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 40 Candidates are to write the unique examination docket number on the examination answer scripts. No names, identification card number or passport number, or other means of potentially identifying the Candidate should be written on or attached to the examination answer scripts. 6.3.9 Examination Language Medium The language medium for both the Professional Programme Professional Development Workshops and examinations is English. Candidates are expected to answer the examination questions in English. 6.3.10 Examination Setting Procedures The examination papers are set by a team of examiners appointed by the SAC. The examination setting procedures involve extensive reviews and improvements by the SAC in order to ensure that the syllabus coverage, duration, level of difficulty and marks allocation are appropriate. 6.3.11 Examination Marking Procedures The examination marking procedures are designed to ensure that the marking process is consistent, accurate and fair to all Candidates. Module results of any Candidate whose performance falls within the borderline band will automatically be reassessed to ensure every competent Candidate is given an accurate grade. The marking itself is controlled through a system of auditing to ensure that the marking scheme is applied consistently, therefore minimising the occurrence of errors in the examination results. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 41 6.4 Grades and Results Results are finalised and released only after extensive reviews have been carried out and approved by the SAC. Candidates will be notified of their Professional Development Workshop results before the examinations (i.e. approximately three to four weeks after the last workshop session). Examination results will be released approximately two months after the examination. Candidates will receive an email and SMS notification on the release of results via the Singapore QP Online Portal. If Candidates do not see their results on the Singapore QP Portal within one week of the examination result release date, Candidates should contact ISCA. The range of marks and grades for the examination results are as follows: Fail Pass Pass with Merit Pass with Distinction Pass with High Distinction < 50% 50% - 64% 65% - 74% 75% - 85% 86% - 100% The examination result slip will reflect the overall result of Candidates, as well as a breakdown of the Professional Development Workshop performance, of which a grade of “PASS” or “FAIL” will be awarded, and the examination grade. The overall grade will have the same grading system as the examination grade. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 42 6.5 Punctuality for Professional Development Workshops Candidates who are late for a Professional Development Workshop will have their General Participation mark halved for that particular workshop. Candidates who are late for a Professional Development Workshop for one hour or more will be marked as absent and awarded a zero mark for that particular Professional Development Workshop. Penalty for Latecomers Late < 1 hour Late > 1 hour Marks of the General Participation for that Professional Development Workshop will be halved Zero marks for that Professional Development Workshop for General Participation (Any reason provided will be at the facilitator’s discretion.) The penalty for latecomers applies to both the half-day and full-day sessions. Candidates who are late for any part of the full-day Professional Development Workshop will be penalised accordingly. 6.6 Absence from Professional Development Workshops Candidates who miss a scheduled Professional Development Workshop could apply to ISCA for special consideration with reasons and supporting documents within three working days from the day of absence. Candidates with valid reasons may be allowed to attend a make-up session. The dates for the make-up sessions will be available on the Singapore QP website. The make-up sessions are subject to a minimum size and availability and the SAC reserves the right to not run the make-up sessions without prior notice. Failure to complete all three Professional Development Workshops per module, unless special consideration is granted, may lead to debarment from the module examination. A weighted average approach will be used to calculate the overall Professional Development Workshop results. Candidates should note that missing Professional Development Workshop 3 (full-day session) will have a significant impact on Candidates’ Professional Development Workshop assessment scores as Workshop 3 carries a higher weightage of scores as compared to the Professional Development Workshops 1 and 2 (half-day sessions). © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 43 Professional Development Workshops Absent from one Professional Development Workshop with valid reasons Make-up Professional Development Workshops - If Candidate is absent from the make-up Professional Development Workshop with or without valid reasons - Attends make-up Professional Development Workshop Absent from one Professional Development Workshop due to work exigencies - Absent from the make-up Professional Development Workshop with valid reasons (i.e. Medical leave, compassionate leave and National Service obligations) - Absent from the make-up Professional Development Workshop without valid reasons © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 Results - Zero marks awarded for the make-up Professional Development Workshop - Final workshop result will be the weighted average of the two Professional Development Workshops attended and the Professional Development Workshop missed - Allowed to sit for the module examination - Final workshop result will be the weighted average of the two Professional Development Workshops attended and the make-up Professional Development Workshop attended - Allowed to sit for the module examination - Final workshop result will be the weighted average of the two Professional Development Workshops attended and the make-up Professional Development Workshop missed - Allowed to sit for the module examination - Barred from the module examination - Results slip will indicate ‘Withdrawn’ for the Professional Development Workshops and the module examination - Candidates will be automatically withdrawn from the module and will need to re-enrol and pay the full module enrolment fee in the next intake in order to complete the module P a g e | 44 - Attends make-up Professional Development Workshop Absent from one Professional Development Workshop without valid reasons -Not allowed to attend makeup Professional Development Workshop Absent from two or more Professional Development Workshops with or without valid reasons -Not allowed to attend makeup Professional Development Workshop - Final workshop result will be the weighted average of the two Professional Development Workshops attended and the make-up Professional Development Workshop attended - Barred from module examination; - Candidate will be automatically withdrawn from the module and will need to re-enrol and pay the full enrolment fee in the next intake in order to complete the module -Results slip will indicate “Withdrawn” for the Professional Development Workshops and the module examination - Not allowed to attend; - Barred from module examination; - Candidate will be automatically withdrawn from the module and will need to re-enrol and pay the full enrolment fee in the next intake in order to complete the module - Results slip will indicate “Withdrawn” for the Professional Development Workshops and the module examination In the event that the make-up Professional Development Workshop is not conducted, the final workshop result will be the weighted average of the two Professional Development Workshops attended and the Professional Development Workshop missed. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 45 6.7 Absence from Examinations Candidates who are absent from the module examination may apply for special considerations. Candidates must provide reasons and documentary evidence to support their claim for special considerations. Candidates who are absent with valid reasons will be allowed to sit for the examination in the following intake. Their Professional Development Workshop results will be carried over to the following intake. The results slip for the current intake will indicate “INCOMPLETE” for the module examination. Candidates need not pay the module enrolment fee in the following intake. However, Candidates will not be allowed to carry over their Professional Development Workshop results for more than one intake. Candidates who are absent without valid reasons, may re-enrol and pay the module enrolment fee in the next intake. The Candidate must re-attend the Professional Development Workshops. The results slip for the current intake will indicate “ABSENT” for the module examination. 6.8 Special Considerations in Assessment Candidates who believe that their performance in the module examination has been seriously impaired by medical or other reasons beyond their control may request for special considerations in the finalisation of their results for that module. The special consideration request must: a. Be made in writing to ISCA within 3 working days of the module examination; and b. Contain all information to be considered for the request and be fully supported by medical opinions and any other original documentary evidence. All cases will be evaluated on a case-by-case basis by the SAC. 6.9 Examination Appeals Process All Candidates are to note that module examination results of any Candidate whose mark falls within the borderline band will be automatically reassessed during the marking process. Candidates who fail the module examination may apply for an appeal at a prescribed fee. A non-refundable administrative fee of S$160.50 (inclusive of GST) made © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 46 payable to ‘Singapore Accountancy Commission’ will be charged for each request. Candidates are to note that this is not a remarking service. To apply for an examination results appeal, Candidates are required to submit a written request, together with the prescribed fee, to ISCA, within one week after the release of the examination results. Candidates will be notified in writing of the outcome of the application within twenty working days after the close of the appeals window. Arising from the appeal, Candidates will be notified of either of the following outcomes: No change in “FAIL” status; or Change from a “FAIL” to a “PASS” status. No further appeal will be accepted by the SAC. 6.10 Examiners’ Report The examiner’s general comments on Candidates’ performance will be published for reference in the Examiner’s Report after the examination results are released. 6.11 Removal from Candidate Register 6.11.1 Fee Arrears A Candidate whose annual Candidature fee is more than three months in arrears will be suspended and will not be allowed to sit for examinations. Candidates will have to re-register and pay all outstanding arrears if he/she wishes to continue with the Programme. 6.11.2 Time Limits A Candidate will be removed from the Candidate Register if he/she has not presented himself/herself for any of the module examinations within three years of application as a Singapore QP Candidate. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 47 6.11.3 Misconduct and Removal from Candidate Register Candidates are to observe good character and conduct throughout their Candidature in the Singapore QP. The following is a non-exhaustive list of examples of misconduct: a) Falsification or misuse of Singapore QP or university academic records; b) Cheating during examinations or Professional Development Workshops; c) Creating disturbance and disruption to other Candidates during examinations or Professional Development Workshops; d) Use of false pretences or impersonation of others in an attempt to deceive the administrator, invigilators or facilitators; e) Possession and/or use of unauthorised materials during examinations or Professional Development Workshops; f) Convicted of a criminal offence in Singapore or elsewhere; and g) Use of the Chartered Accountant of Singapore designation and logo when Candidate has not attained that designation. Any Candidate found guilty of misconduct may be removed from the Candidate Register on disciplinary grounds. Any complaint regarding a Candidate’s misconduct shall be made to the SAC. A Disciplinary Committee will investigate all complaints regarding misconduct, unless it is shown that the complaint is non-justifiable. 7. Certificate of Completion Candidates who have successfully completed the Ethics and Professionalism module and the five modules of the Professional Programme as well as the Practical Experience component will be awarded a Certificate of Completion by the SAC as recognition of their achievements in order to be eligible to apply for the Chartered Accountant of Singapore designation. 8. Applying for the Chartered Accountant of Singapore Designation Candidates can apply for membership with the prescribed Designated Entity pursuant to the Third Schedule to the SAC Act when they have completed the Ethics and Professionalism module, the examinations for the four technical modules and the Integrative Business Solutions capstone module as well as gained the required © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 48 practical experience. ISCA is currently the prescribed Designated Entity under the Third Schedule to the SAC Act. Candidates should complete the membership application form obtainable from ISCA and return it together with their RPEC, all other relevant documents, and any prescribed fee. Candidates are strongly encouraged to refer to the Candidate Guide to Practical Experience for details on the documentation for recording the Practical Experience component. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 49 9. Fees and Payment 9.1 Fees for Singapore QP Candidates Application fee as a Singapore QP Candidate, module enrolment fees and all other administrative fees are listed on the Singapore QP website. Candidates shall note that the module fees include the fees for learning materials, examinations, and Professional Development Workshops. Module fees are reviewed every financial year in March/ April. You may refer to the Singapore QP website for the most current fees. 9.2 Methods of Payment and Procedures Payments can be made using cheque or cashier’s order. All cheques or cashier’s order must be made payable to the ‘Singapore Accountancy Commission’. All application/enrolment payments must be accompanied by the official application/ enrolment form duly completed and the required documents. All application/ enrolment payments are strictly non-refundable, unless otherwise specified. Successful applicants may enrol in the Ethics and Professionalism module, followed by the four technical modules, using the official enrolment form together and making payment. Module enrolment fees will only be refundable or transferable if certain conditions are met. Please see sections 5.4.3 and 6.7 for more details. Candidates are to note that module fees for the Ethics and Professional module are non-refundable. Candidates must complete the Ethics and Professionalism module before enrolling for any of the technical modules. 9.3 Annual Candidature Fee An annual Candidature fee is payable on the 1st of January every year as long as an individual is in the Candidate Register. Candidates will not be able to enrol for any module if the annual Candidature fee is outstanding. © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 50 10. Enquiries 10.1 Singapore Accountancy Commission Singapore Accountancy Commission International Plaza 10 Anson Road #05-18 Singapore 079903 Email: be.recognised@singaporeqp.com 10.2 Institute of Singapore Chartered Accountants Institute of Singapore Chartered Accountants Examinations and Qualification 111 Somerset Road, #07-05, TripleOne Somerset Singapore 238164 Email: SingaporeQP@isca.org.sg 10.3 Other Information Services Website Application Module enrolment Technical matters : http://www.singaporeqp.com : SingaporeQP_admission@isca.org.sg : SingaporeQP_exam@isca.org.sg : Singapore_QP@sac.gov.sg © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 51 ANNEXURE A – LIST OF ACCEPTABLE CALCULATORS AURORA CS93 SC 107 SC 200 SC 550 DT168B SC 110 SC 210 HC 687 DT260 SC 120 SC 260 DT703 SC 150 SC 500 DT394P SC 170 SC 500 PLUS CASIO CASIO COLLEGE FX 100 CASIO FX-250HC CASIO FX-500 CASIO FX-82C CASIO FX-960 CASIO DS-258 CASIO FX-2600 CASIO FX-500A CASIO FX-82D CASIO FX-961 CASIO FC-100 CASIO FX-29 CASIO FX-500ES CASIO FX-82ES CASIO FX-98 CASIO FC-100V CASIO FX-270W PLUS CASIO FX-500MS CASIO FX-82ES PLUS CASIO FX-990 CASIO FC-200V CASIO FX-300 CASIO FX-510 CASIO FX-82ES PLUS A CASIO FX-991 CASIO FC-200 CASIO FX-3000 CASIO FX-550 CASIO FX-82L CASIO FX-991D CASIO FX-100 CASIO FX-300ES CASIO FX-5500LA CASIO FX-82LB CASIO FX-991DE PLUS CASIO FX-100AU CASIO FX-300MS CASIO FX-550S CASIO FX-82LP CASIO FX-991ES CASIO FX-1000 CASIO FX-300SA CASIO FX-550TL CASIO FX-82MS CASIO FX-991ES PLUS CASIO FX-100C CASIO FX-300W CASIO FX-570 CASIO FX-82 SUPER CASIO FX-991H CASIO FX-100D CASIO FX-31 CASIO FX-570A CASIO FX-82SX CASIO FX-991S CASIO FX-100ES CASIO FX-310 CASIO FX-570AD CASIO FX-82SX PLUS CASIO FX-991M CASIO FX-100MS CASIO FX-3200 CASIO FX-570AV CASIO FX-82TL CASIO FX-991MS CASIO FX-100S CASIO FX-330 CASIO FX-570C CASIO FX-82W CASIO FX-991V CASIO FX-100V CASIO FX-3400P CASIO FX-570CD CASIO FX-820MS CASIO FX-991W CASIO FX-100W CASIO 35+ CASIO FX-570CV CASIO FX-83ES CASIO FX-991WA CASIO FX-100Z CASIO FX-350 CASIO FX-570ES CASIO FX-83MS CASIO FX-992S © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 52 CASIO FX-102 CASIO FX-350A CASIO FX-570ES PLUS CASIO FX-83WA CASIO FX-992V CASIO FX-110 CASIO FX-350C CASIO FX-570MS CASIO FX-83GT PLUS CASIO FX-992VB CASIO FX-115 CASIO FX-350D CASIO FX-570S CASIO FX-85 CASIO FX-995 CASIO FX-115D CASIO FX-350ES CASIO FX-570VN PLUS CASIO FX-85ES CASIO FX-D400 CASIO FX-115ES CASIO FX-350ES PLUS CASIO FX-570W CASIO FX-85ES PLUS CASIO FX-P401 CASIO FX-115M CASIO FX-350H CASIO FX-570Z CASIO FX-85GT PLUS CASIO HL-122 CASIO FX-115MS CASIO FX-350HA CASIO FX-58 CASIO FX-85MS CASIO HL-820LU CASIO FX-115N CASIO FX-350HB CASIO FX-580 CASIO FX-85N CASIO JS-140 CASIO FX-115S CASIO FX-350MS CASIO FX-5800P CASIO FX-85S CASIO LC-785 CASIO FX-115V CASIO FX-350TL CASIO FX-590 CASIO FX-85V CASIO FX-115W CASIO FX-350TLG CASIO FX-603P CASIO FX-85VH CASIO FX-120 CASIO FX-350W CASIO FX-6100 CASIO FX-85WA CASIO FX-122S CASIO FX-3600P CASIO FX-63 CASIO FX-880 CASIO FX-135 CASIO FX-361 CASIO FX-65 CASIO FX-900 CASIO FX-140 CASIO FX-3650P SUPER FX CASIO FX-650 CASIO FX-901 CASIO FX-150 CASIO FX-37 CASIO FX-68 CASIO FX-910 CASIO FX-160 CASIO FX-370 CASIO FX-7100 CASIO FX-911S CASIO FX-17 CASIO FX-373ES CASIO FX-7300G CASIO FX-911SA CASIO FX-180PA CASIO FX-3800P CASIO FX-78 CASIO FX-911W CASIO FX-19 CASIO FX-39 CASIO FX-80 CASIO FX-911Z CASIO FX-20 CASIO FX-401 CASIO FX-8000 CASIO FX-915 CASIO FX-2000 CASIO FX-4100P CASIO FX-81 CASIO FX-92 CASIO FX-21 CASIO FX-411 CASIO FX-8100 CASIO FX-92 COLLEGE 2D CASIO FX-210 CASIO FX-4200P CASIO FX-82 CASIO FX-920 © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 53 CASIO FX-220 CASIO FX-450 CASIO FX-82 SOLAR CASIO FX-922V CASIO FX220 PLUS CASIO FX-451 CASIO FX-82AU CASIO FX-95 CASIO FX-2200 CASIO FX-451M CASIO FX-82B CASIO FX-95ES PLUS CASIO FX-250 CASIO FX-470 CASIO FX-950 CASIO FX-2500 CASIO FX-48 CASIO FX-95MS CASIO FX-250H CASIO FX-451 CASIO FX-95SG PLUS CASIO FX-50F CASIO FX-96SG PLUS CASIO FX-50F PLUS CASIO FX-50FH CASIO FX-50FH SUPER FX PLUS CANON CANON F200 CANON F51 CANON F604 CANON F65 CANON F-788DX CANON F402 CANON F55S CANON F612 CANON F-715S CANON F-789SGA CANON F500 CANON F56 CANON F62 CANON F-718SGA CANON F800 CANON F501 CANON F601 CANON F63 CANON F72 CANON FS800 CANON F502 CANON F602 CANON F64 CANON F720 CANON LC-200H CANON F73 CANON LS-82Z FIAMO SC 6 SC 20 HEWLETT PACKARD HP 10B HP 11C HP 30S HP 65 SOLAR HP 8S HP 10BII HP 14B HP 32SII HP 6S HP 9S HP 10BII+ HP 15C HP 49G+ HP 6S SOLAR HP 10S © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 P a g e | 54 KARCE KC 107 KC 108 KC 109 KC S187 SANYO SANYO CE 1201 SANYO CE1203 SANYO CE1204 SANYO CE1210 SHARP SHARP EL-500L SHARP EL-509A SHARP EL-510R SHARP EL-531V SHARP EL-5812 SHARP EL-500W SHARP EL-509G SHARP EL-514 SHARP EL-531VB SHARP EL-5813 SHARP EL-5003 SHARP EL-509L SHARP EL-515 SHARP EL-531VH SHARP EL-735 SHARP EL-505 SHARP EL-509MS SHARP EL-517 SHARP EL-531W SHARP EL-738 SHARP EL-506A SHARP EL-509R SHARP EL-520D SHARP EL-531WH SHARP EL-W506 WRITE VIEW SHARP EL-506G SHARP EL-509W SHARP EL-520G SHARP EL-5310P SHARP EL-W516 WRITE VIEW SHARP EL-506H SHARP EL-509WS SHARP EL-520L SHARP EL-532 SHARP EL-W516X WRITE VIEW SHARP EL-506L SHARP EL-509WM SHARP EL-520R SHARP EL-533X SHARP EL-W531 WRITE VIEW SHARP EL-506P SHARP EL-509WMBK SHARP EL-520V SHARP EL-545 SHARP EL-W531H WRITE VIEW SHARP EL-506R SHARP EL-509V SHARP EL-520VA SHARP EL-546D SHARP EL-W531M WRITE VIEW SHARP EL-506W SHARP EL-509VM SHARP EL-520W SHARP EL-546G SHARP EL-W531S WRITE VIEW SHARP EL-506X SHARP EL-509X SHARP EL-520WG SHARP EL-546L SHARP EL-W531XM WRITE VIEW SHARP EL-506V SHARP EL-5103 SHARP EL-528 SHARP EL-546LV SHARP EL-W535 WRITE VIEW SHARP EL-531 SHARP EL-546R SHARP EL-531GH SHARP EL-546VA SHARP EL-531L SHARP EL-553 SHARP EL-531LH SHARP EL-556G SHARP EL-507 © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 KC S3500 P a g e | 55 SHARP EL-531P SHARP EL-556L SHARP EL-531RH TEXAS INSTRUMENT COLLEGIATE TI-35 TI 25 PLUS TI 30XA TI 34 II TI 40 BA 35 SOLAR TI 25X TI 30XB TI 35 SOLAR TI 50 BA REAL ESTATE TI 25 STAT TI 30X IIB TI 35X TI 54 BA II PLUS TI 30 TI 30X IIS TI 36XII TI BAII PLUS PROFESSIONAL SR 50 TI 30 CHALLENGER TI 30X SOLAR TI 36X SOLAR TI COLLEGE PLUS SR 50A TI 30X PRO MULTIVIEW TI 30XB MULTIVIEW TI 36 SR 51 TI 30ECORS TI 30XS TI 36X TI 30ECO TI 32 EXPLORER PLUS TI 36X PRO TI 30X TI 34 TOSHIBA SLC 8260 TOSHIBA SLC 8280 TOSHIBA TOSHIBA SLC 8261 © 2016 Singapore Accountancy Commission Updated as of 22 February 2016 TOSHIBA SLC 8310 P a g e | 56
