Collaboration could extend Singapore-developed AI training to ICAI’s members and students, alongside greater recognition of relevant professional learning
SINGAPORE – Media OutReach Newswire – 21 August 2026 – The Institute of Singapore Chartered Accountants (ISCA) and The Institute of Chartered Accountants of India (ICAI) are deepening their longstanding collaboration through two initiatives focussed on strengthening AI capabilities among accounting professionals and enhancing professional qualification recognition.
ISCA today signed a Letter of Cooperation setting out a framework for proposed Global AI Fluency Initiative centred on ISCA's AI Fluency Programme. The proposed cooperation will explore how ISCA and ICAI can work together to extend practical and responsible AI learning to ICAI members and students, subject to relevant approvals and mutually agreed implementation arrangements.
ISCA also announced its approval of a proposed Module Exemption Agreement (MEA) with ICAI relating to their professional qualification pathways.
Extending Singapore-developed AI capability internationally
The proposed AI collaboration builds on the early momentum of ISCA's AI Fluency Programme. Through the proposed collaboration, ISCA and ICAI will explore opportunities to extend access of the programme to ICAI's professional community of more than 1.5 million members and students, broadening the international reach of Singapore-developed AI capability building for the accountancy profession.
The approximately 30-hour programme comprises 180 hands-on cases based on workplace applications, structured around three areas:
- AI Fluency Foundations: Building essential AI confidence for everyday professional work;
- AI for Accounting Specialisations: Applying AI across accounting, audit, finance, tax and related professional functions; and
- AI Leadership & Governance: Developing the capability to lead AI adoption responsibly, with appropriate governance and oversight.
The practical approach is designed to help learners identify where AI can add value while continuing to exercise professional judgement, appropriate oversight and responsibility for their work.
The proposed collaboration will explore:
- Programme promotion: Supporting the promotion of respective AI programmes to each institute's members through mutually agreed arrangements;
- Member outreach and promotion: Promoting the AI Fluency Programme to ICAI members in India and, where appropriate, across ICAI's global network through mutually agreed communications;
- Professional application: Exchanging views and use cases on the application of AI in accounting, audit, finance, tax and related professional work;
- AI leadership and responsible adoption: Sharing perspectives on appropriate governance, oversight and responsible adoption of AI within the profession; and
- Knowledge exchange: Exploring further opportunities for thought leadership, professional learning and capability development relating to AI.
Strengthening professional recognition
ISCA has approved a proposed Module Exemption Agreement (MEA) with ICAI. The proposed arrangement would provide specified exemptions under the respective qualification pathways for eligible ICAI and ISCA members, supporting greater recognition of professional qualifications.
While the MEA has yet to be formally executed, ISCA will implement the specified exemptions from the SCAQ for eligible ICAI members with effect from 21 August 2026. Eligible candidates must continue to meet the applicable entry, assessment and remaining qualification requirements. ¹
The AI initiative and proposed module exemption arrangement collaborations are built on the longstanding relationship between ISCA and ICAI and their shared commitment to developing a future-ready, internationally connected accountancy profession.
Mr Lee Boon Teck, President of ISCA, said: "AI is reshaping the accountancy profession and building AI fluency alongside strong professional expertise will be critical to enabling the profession to adapt and create greater value. Through the proposed Global AI Fluency initiative, we hope to share Singapore's experience in practical and responsible AI capability development with a wider professional community and contribute to responsible AI adoption across the global accountancy profession. Our longstanding relationship with ICAI also provides opportunities to strengthen the recognition of relevant professional learning and reduce extent of duplication for qualified professionals. Together, these initiatives contribute to a future-ready and internationally connected accountancy profession."
Mr Prasanna Kumar D, President of ICAI, said: "The exchange of letters between ICAI and ISCA on 21st August marks a defining step in our shared journey and a clear statement of intent to work towards strengthening recognition between our professional qualifications. For our members, this opens up the potential for greater opportunities and professional recognition. At the same time, our discussions on Artificial Intelligence capability building reflect our shared commitment to strengthening AI capabilities across the profession. We look forward to working closely with ISCA to explore mutually beneficial opportunities for knowledge sharing, capacity building and preparing a future ready profession."
¹ The formal execution of the MEA remains subject to the necessary approvals in India and completion of the remaining formalities.
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The issuer is solely responsible for the content of this announcement.
Institute of Singapore Chartered Accountants (ISCA)
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SANYA, CHINA – Media OutReach Newswire – 21 August 2026 – On the evening of August 19, the banquet hall of The Sanya Taikang Tribute Portfolio Resort, was brightly illuminated and filled with youthful energy and the warm spirit of the island. As the opening event of the 2026 Hong Kong and Macao Youth Study Tour and Exchange Program in the Chinese mainland, the "Hainan Night" cultural tourism promotion event, themed "A Young and Joyful Hainan Summer," was held here. More than 200 principals, teachers and student representatives from primary and secondary schools in Hong Kong and Macao, heads of study tour organizations, and representatives from the mainland's cultural tourism sector gathered on the shores of the South China Sea. Through an immersive experience of island culture, they officially kicked off a week-long study tour and exchange program across Hainan.
The event was hosted by the Department of Tourism, Culture, Radio, Television and Sports of Hainan Province and the Sanya Municipal People's Government, organized by the cultural tourism authorities of Sanya, Danzhou, Wenchang and Wanning, and co-organized by the Hainan Study Tour and Tourism Association, with support from the Asian Tourism Exchange Center and the World Study Travel Organization. Combining multisensory immersion with interactive scenarios, the event integrated coastal scenery, intangible cultural heritage and study tour resources, offering guests from Hong Kong and Macao a warm cultural tourism welcome featuring distinctive local characteristics and youthful vitality.
Immersive Island Welcome and Youthful Celebration Ignite Sanya's Night
Upon entering the venue, guests were immediately immersed in the atmosphere of an "Island Wonderland." Coconut palm-inspired installations were arranged along the passageways, while traditional Li brocade patterns added decorative touches. Warm yellow lighting created a relaxed yet vibrant tropical-island ambiance, while guests dressed in traditional Hainan island attire moved throughout the venue, bringing the distinctive charm of Hainan to life.
Next to the registration area, a bamboo-pole dance welcome team was already in position. Accompanied by lively Li ethnic percussion music, long bamboo poles opened and closed rhythmically, attracting many young visitors from Hong Kong and Macao to give it a try. At first, some participants were somewhat unfamiliar with the movements, carefully stepping in and out to the beat. After several attempts, however, they quickly found their rhythm. The sound of bamboo poles clacking together blended with the laughter of the young participants, turning the entrance into a sea of joy.
The island-themed photo area, intangible cultural heritage experience zone and study tour resources exhibition were also bustling with visitors. Some guests captured their first moments in Hainan against a backdrop of coastal scenery, while others stopped to watch demonstrations of traditional Li instruments, including the nose flute and zhuoba. Many students gathered around the study tour displays, carefully exploring the diverse opportunities available for educational travel in Hainan.
At around 6 p.m., the opening dance performance, Come See the Sea, gracefully took the stage. Through fluid movements that mimicked the rise and fall of waves, the dancers condensed the vastness and gentle beauty of the South China Sea into a captivating stage performance. All eyes turned toward the stage, officially opening the event.
In her remarks, Wang Hejiao, Deputy Secretary-General of the Hainan Provincial People's Government, noted that in 2025, the number of Hong Kong and Macao study tour participants visiting Hainan exceeded 10,000, with two-way youth exchanges continuing to gain momentum. Since the Free Trade Port's "Riding the Waves Program" was launched in 2023, nearly 30 universities in Hong Kong and Macao have participated, attracting more than 1,500 students. Of these, 200 Hong Kong and Macao university students have completed internships in Hainan. In 2026, another 60 university students from Hong Kong and Macao will come to Hainan for practical training and experience. Generation after generation of young people from Hong Kong and Macao have visited Hainan to experience firsthand the vibrant development of the Hainan Free Trade Port, helping build a strong foundation of friendship and mutual understanding among the three regions. She expressed the hope that participants would explore Hainan's landscapes and allow a shared sense of national identity to grow through firsthand experiences.
Tian Zhiqi, Chief Operating Officer for the Asia-Pacific Region of the World Study Travel Organization, said that Hainan has enormous potential in study travel. The organization is actively responding to the needs of the digital economy and people's aspirations for a better life, while following the trend toward carbon peaking and carbon neutrality. It promotes coordinated development of new routes, new business models and new market participants. He expressed the hope that, together with the Hainan Free Trade Port, the organization could build a study travel system featuring an international perspective as well as Chinese approaches, Chinese wisdom and Chinese solutions, thereby strengthening China's voice in the international study travel sector.
The immersive study tour promotion, A Young and Joyful Hainan Summer, followed. Through real-life imagery and vivid presentations, three distinctive study tour routes—space exploration, deep-sea discovery and rainforest adventure—were gradually unveiled. Many young people in the audience watched with anticipation, quietly discussing the highlights of the upcoming itinerary with their peers.
Following the promotion, a series of artistic performances and interactive activities kept the exciting building. The dance Fisherfolk Weaving the Moonlight portrayed the life of fishing communities along the South China Sea, showcasing the rich cultural character of Hainan. The Sanya Akage Band performed original songs including Ben Nei Re and Children Who Guard the Mountain Orchid, allowing guests to experience the vitality of Hainan's intangible cultural heritage. When familiar classics such as Kara Forever OK, Walking Along the Road of Life and A Dream of Blades and Swords were performed, the atmosphere reached a climax. Many teachers and students from Hong Kong and Macao spontaneously joined in the singing, bringing people closer together across the distance between the regions.
Two rounds of interactive lucky draws were also held during the event, alongside a promotion of "Cool Travel Hainan," Hainan's public cultural tourism service platform, which offered exclusive travel benefits to guests. The evening then culminated in an interactive singing and dancing session. Guests and young participants took to the stage, singing and dancing among the rising and falling bamboo poles, pushing the festive atmosphere to its peak as laughter and cheers echoed throughout the venue.
Building Bridges Through the Night: Young People from Hainan, Hong Kong and Macao Share a Common Dream
The vibrant "Hainan Night" was not only a concentrated showcase of Hainan's cultural tourism appeal, but also a warm prelude to the entire Hong Kong and Macao Youth Study Tour and Exchange Program in the Chinese mainland.
The program will last seven days. Following the welcome and promotional event on August 19, representatives of teachers and students from Hong Kong and Macao will embark on a themed study tour of Hainan from August 20 to 25. Starting from Sanya, the itinerary will take them to Wanning, Danzhou, Haikou and Wenchang, offering participants a comprehensive look at the dynamic development of the Hainan Free Trade Port. A study tour resources exchange event will also be held during the program, featuring Hainan's three major study-tour themes—space, ocean and rainforest. Industry representatives from Hainan, Hong Kong and Macao will be invited to discuss opportunities and future directions for cross-border study tour cooperation.
At the event, many guests and young participants from Hong Kong and Macao shared their impressions and expectations.
"This is my first time in Hainan. I was amazed by the bamboo-pole dance and the island-themed decorations as soon as I entered. It is a completely different cultural experience!" said Lin Renhui, a student representative from Hong Kong, visibly excited. "Previously, I had only seen Hainan's space launch sites and tropical rainforests in textbooks and documentaries. During the upcoming tour around the island, I am most looking forward to visiting Wenchang. I want to see the country's major aerospace facilities with my own eyes and experience the achievements of China's aerospace development."
Zhang Yuzhong, General Manager of Aiyouxue (Hong Kong) Co., Ltd., which has long been engaged in the study travel sector, said that Hainan possesses highly distinctive and scarce study tour resources in areas such as aerospace, the ocean and rainforests, giving the island a natural appeal for young people from Hong Kong and Macao.
"This event is not only a cultural exchange among young people but also provides a face-to-face platform for the study tour industries in the two regions to connect and cooperate. In the future, we hope to bring more young people from Hong Kong and Macao to Hainan, while also organizing visits for young people from Hainan to Macao. We want to establish a two-way study tour and exchange mechanism so that young people can deepen their mutual understanding through travel and strengthen their cultural identification with the motherland," Zhang said.
In recent years, cultural tourism exchanges among Hainan, Hong Kong and Macao have continued to deepen, with youth study tours becoming a regular vehicle for exchanges. Leveraging the opportunities brought by the development of the Hainan Free Trade Port, Hainan has continued to enrich its study tour offerings and improve related industry services, with the aim of providing young people from Hong Kong and Macao with more meaningful, engaging and rewarding educational travel experiences.
From the Greater Bay Area to the Free Trade Port, the regions may be separated by mountains and sea, but their hearts remain closely connected. Over the coming week, teachers and students from Hong Kong and Macao will gain a deeper understanding of the vitality of the Hainan Free Trade Port through firsthand visits, carry forward China's outstanding traditional culture through cultural experiences, and strengthen the emotional bonds and shared aspirations of young people from Hainan, Hong Kong and Macao through in-depth exchanges. In the great tide of an era marked by closer cooperation among the three regions, the energy and dreams of youth will shine brightly.
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