The ICAEW, a world leader of the accountancy and finance professions, has opened its first regional office outside of the UK.
Located in Singapore, the South East Asia office is the first of a number of offices that the ICAEW will be establishing around the world over the next few years.
The South East Asia regional office will co-ordinate and support ICAEW initiatives across the ASEAN countries. In particular, it will work with businesses based in the region to extend training of the ACA qualification to countries across South East Asia. It will also seek to make available the expertise and knowledge of both the ICAEW and its membership to governments and regulators across the region, helping local economies to compete globally through the development of global accountancy and finance professions.
"The global economy presents new opportunities and challenges for every market within South East Asia," said David Furst, President of the ICAEW. "Businesses from around the world are seeking to expand internationally. To succeed, they need to operate within a framework that will enable them to attract investment as well as export products and services. Through our new regional office in Singapore, the ICAEW will be better placed to work with governments and local accountancy bodies across the region to help build this framework, sharing the experiences and knowledge gained from other markets around the world."
Best known for its prestigious ACA qualification, the ICAEW has members that work across the full breath of the economy. There are more than 132,000 members in over 160 countries, of which 1,800 are based in South East Asia. Members include business leaders of some of the world's most successful organisations.
"The ACA is one of the most respected and globally recognised accountancy qualifications. Those who hold it are highly sought after for their combination of in-depth technical knowledge and professionalism," says Dominic Nixon, Chairman of ICAEW Singapore City Group and Financial Services Leader in PricewaterhouseCoopers (PwC) Singapore. "Singapore is building its reputation as a significant capital market within the global economy, and both ICAEW and our members' experience can play an important role in supporting this development."
The South East Asia regional office will be headed by Mark Billington, regional director for South East Asia. Prior to joining the ICAEW, Mark was the Chief Executive Officer for O2 Asia Pacific. He said: "South East Asia is an important market for the ICAEW, and Singapore is the ideal place to site our regional headquarters. The region is showing remarkable resilience in this period of uncertainty, and there is a great hunger for success among its people. There are a large number of prospective students seeking to gain internationally known qualifications like the ACA that offer graduates a route into the global accountancy profession as well as opportunities to move up the corporate ladder."
"The appointment of Mark Billington and the establishment of the regional office are progressive steps in the ICAEW's efforts to reach out to its members here," says Kon Ying Tong, Managing Partner of Foo Kon Tan Grant Thornton and Treasurer of ICAEW Singapore City Group. "I'm sure Mark will be a positive influence in the development of the accountancy sector regionally."