ISCA Highlights Year of Investment and Growth at AGM With Accumulated Reserves at $116 Million, Measured at Fair Value
The AGM also saw the election and appointment of the 2026 ISCA Council.
This year's AGM saw members returning to Singapore to attend in person, alongside strong participation from those joining virtually.
A year of reset and strategic investment
In 2025, ISCA recorded its first operating deficit in a decade. This was the result of a deliberate decision to invest in areas that will strengthen the Institute's long-term value to members and the profession. ISCA continues to maintain a strong financial position, with healthy reserves and a resilient balance sheet.
Rather than maintaining the status quo, ISCA undertook a year of reset and renewal, with spending focused on building stronger capabilities, growing the talent pipeline, expanding into new markets and building new growth engines.
ISCA emphasised that these investments were not made for growth alone, but more importantly, to better support members and provide greater member value in a rapidly evolving business and professional landscape.
Looking ahead, ISCA's priorities remain clear: to deliver a better member experience, strengthen the talent pipeline and enhance its regional relevance. In 2026, the focus will be on ensuring that these investments translate into tangible and visible outcomes for members.
Expanding opportunities through internationalisation
At the AGM, ISCA Council and management addressed members' questions on the institute's plans to expand internationally. ISCA's regional efforts are aimed at making it easier for members to access opportunities beyond Singapore. For members based in Singapore, this means more job opportunities, potential clients and partnerships across the region. For members based overseas, it means stronger local support and a more connected ISCA network where they live and work. ISCA CEO Ms Fann Kor cited an example of a member who had spent over 20 years building his career in China and was looking to return to Singapore. Through ISCA's network, he was connected to a listed company seeking deep China experience, creating an opportunity that would otherwise have been difficult to access.
Progress across key areas
Despite being an investment year, ISCA reported progress across several areas:
- Membership grew to 43,500, with 11% growth and a 98.3% renewal rate
- ISCA House recorded 30,000 visits, with member satisfaction at 94%
- Singapore Chartered Accountant Qualification (SCAQ) candidate numbers grew by 37%, including 400 overseas candidates
- ISCA expanded its regional footprint to 12 overseas chapters across 9 countries, with 6 overseas offices and 3 Professional Services Centres
- Chartered Accountants Lab (CA Lab) readership reached 39,000, across more than 30 countries
- ISCA developed 8 AI agents and implemented 180 system enhancements to improve access and member experience
- ISCA Academy delivered close to 199,000 Continuing Professional Development (CPD) hours, while reducing average cost per hour by 6% to $37.70
- ISCA Cares marked its 10-year milestone, disbursing $1.5 million and supporting nearly 500 students
- For the first time, SCAQ is being promoted beyond Singapore, making ISCA the first professional body in Asia to promote our national CA qualification overseas
- The SCAQ was embedded in an overseas university for the first time, at Nanjing University of Finance and Economics
The newly-elected Council Members are:
- Mr Alan Chang Chi Hsung, Managing Director, OA Assurance PAC
- Ms Chua Siew Hwi, Senior Vice President, Changi Airport Group
- Mr Quah Zheng Wei, CEO, Accredify Pte Ltd
- Ms Tan Aik Na, Senior Vice President (Administration), Nanyang Technological University
- Ms Yong Zen Yun, Partner, General Assurance Leader, Pricewaterhousecoopers LLP
- Ms Jocelyn Goh Chern Ni, Audit & Assurance Partner, BDO LLP
- Mr Koh Wee Kwang, Director, Nexia Singapore PAC
- Mr Lee Boon Teck, Regional Managing Partner, Audit & Assurance, Deloitte & Touche LLP
Office bearers
At the first Council meeting following the AGM, the ISCA office bearers were appointed. Mr Teo Ser Luck, immediate past president, was also appointed as ISCA Adviser.
President: Mr Lee Boon Teck
Vice Presidents:
- Ms Ang Suat Ching
- Ms Jocelyn Goh
Secretary: Ms Judy Ng
Leadership perspectives
The newly elected ISCA President, Mr Lee Boon Teck, said: "The investments we have made over the past year lay the groundwork for a stronger, more connected profession. Our focus now is to ensure that every member, whether they are starting their career, leading an organisation, or building a practice overseas, can see and feel the difference ISCA makes. I am honoured to lead ISCA at this pivotal moment, and I look forward to working with the Council and our members to build on the strong foundations we have in place."
ISCA Adviser and immediate past President Mr Teo Ser Luck said: "It has been a great privilege to serve ISCA, our members, and the accountancy sector over the past four years. This journey has been one of the most fulfilling I have ever embarked on. None of it would have been possible without an exceptional Council, a dedicated management team, and members who believed in what we were building together. My sincere appreciation to ISCA and our members for the opportunity to serve."
ISCA CEO Ms Fann Kor said: "2025 was a year of deliberate investment to strengthen what matters most to our members and to the profession. We invested in the talent pipeline, member support, digital capability and regional connectivity so that ISCA can continue to stay relevant and useful in a changing environment. I would also like to thank Mr Teo Ser Luck for his leadership and contributions over the past four years. Under his stewardship, ISCA made meaningful progress in strengthening the profession, growing the Singapore CA Qualification and expanding our regional footprint. Management looks forward to working closely with the new Council to turn these investments into stronger outcomes and clearer value for members.
For the biographies of the elected office bearers, new and re-elected Council Members, please click here.
Hashtag: #DifferenceMakers #Accountancy #ISCACouncil #AGM
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Institute of Singapore Chartered Accountants (ISCA)
The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. Established in 1963, ISCA administers the Singapore Chartered Accountant Qualification programme and is the designated entity by the Singapore Ministry of Finance to confer the Chartered Accountant of Singapore [CA (Singapore)] designation.
ISCA supports over 43,000 members across industries in Singapore and globally, with members in more than 40 countries. With a growing international presence, ISCA has 12 overseas chapters, 7 offices across 10 countries and a network of over 150 strategic partners, strengthening professional connections and opportunities across borders. ISCA is also a member of Chartered Accountants Worldwide, a global network representing more than 1.8 million Chartered Accountants and students across over 190 countries.
ISCA advances professional development and lifelong learning through ISCA Academy, its training arm and drives community impact through ISCA Cares, its charity arm.
For more information, visit www.isca.org.sg.
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