Key Findings from Accounting Entities (AE) Survey 2025 and Enhancements to the SCAQ

12 November 2025

(A) ACRA’s Accounting Entities Survey 2025

Three key findings emerged from the Accounting Entities (AE) Survey 2025, an annual national survey of Singapore's accounting entities, conducted since 2015. The survey provides in-depth insights into the accountancy sector's economic performance and workforce trends to inform policy decisions and raises stakeholders’ understanding of industry developments. The AE Survey Report 2025 is based on statistics for the year 2024. There were 233 AEs who had responded, representing 92% of the sector's total revenue.

i. Revenue growth across all segments
The accountancy sector recorded revenue growth of 7.5% in 2024, driven primarily by Audit and Assurance services, which accounted for 50% of the sector’s total revenue. Total revenues increased by $244.5 million to approximately $3.5 billion in 2024.

Growth was observed across all firm sizes, indicating strong demand and opportunities in accountancy: Big 4 firms (+$112.5 million, +4.8%);

• Large AEs (+$54.8 million, +12.0%);

• Medium AEs (+$49.6 million, +47.4%);

• Small AEs (+$19.3 million, +9.0%); and

• Micro AEs (+$8.4 million, +6.6%).

ii. Resident workforce posts its first growth since 2020, showing higher wages for experienced positions, and over 1,500 job opportunities

Singapore's accountancy workforce grew by approximately 200 positions (+0.9%), driven by an expansion in the resident workforce of over 1,300 positions (+8.8%), marking the first rise since 2020. While this growth was offset by a decrease in the non-resident workforce of about 1,100 positions (-17.7%), the sector successfully attracted more residents to join and remain in the accountancy profession in 2024.

The survey showed that AEs had raised wages for their more experienced positions. The median wages of first-year senior associates, managers and directors grew by $400 (8.0%), $500 (6.9%) and $2,000 (17.4%) respectively.

Although median entry-level wages for first-year audit assistants and first-year associates held steady from 2023, more graduates secured higher wages. The percentage of first-year audit assistants earning above $3,200 increased from 12% in 2023 to 37% in 2024. Similarly, the percentage of first-year associates with salaries above $4,000 rose from 60% to 66%, with over a quarter earning more than $4,400 in 2024, as compared to 2023 (0%).

The sector expects to continue expanding its workforce with more than 1,500 career opportunities across key areas. About two-thirds of these opportunities are in audit and assurance, with business advisory contributing over 200 roles.

iii. Future-focused skills development

The top four skillsets that AEs would like to build within their workforce over the next three years are advanced data analytics and visualisation (41%), sustainability assurance (28%), sustainability reporting (27%), as well as risk management and governance (27%). These priorities signal a focus on data-driven decision-making, and Environmental, Social and Governance (ESG) competencies.

In the area of sustainability reporting, ACRA will be curating sustainability reporting training programmes in partnership with SkillsFuture Singapore (SSG). This initiative will prepare professionals for climate-related disclosure requirements taking effect from FY2025. It also supports the development of specialised expertise in sustainability reporting, addressing the growing demand for professionals skilled in ESG frameworks and climate-related disclosures as Singapore's regulatory landscape evolves.

(B) Enhancements to the Singapore Chartered Accountant Qualification (SCAQ)

ACRA is implementing three key enhancements to the SCAQ to increase pathways for Accounting Diploma graduates and ensure the qualification remains relevant to industry needs

i. New SCAQ pathways for accounting diploma graduates

There will be two new SCAQ pathways for Accounting Diploma graduates from the Institute of Technical Education (ITE) and recognised Institutes of Higher Learning (IHLs), which will provide greater support in growing the pipeline of accountancy talent, aligning with recommendations from the Accountancy Workforce Review Committee (AWRC). The new pathways will open from January 2026, with an expected first cohort of around 10 to 15 ITE candidates, and around 50 to 100 candidates from recognised private and public IHLs.

These new pathways acknowledge that Accounting Diploma graduates from ITE and IHLs are ready to embark on the SCAQ Programme, and build on the progressive broadening of SCAQ accessibility that the industry has embarked on over the years, through differentiated entry routes for undergraduates and local polytechnic graduates. The new pathways will make the SCAQ more accessible to candidates of diverse educational backgrounds.

ii. Curriculum refresh of Professional Programme

The SCAQ Professional Programme is undergoing a curriculum refresh to ensure that it reflects emerging trends, maintains industry relevance, and ensures compliance with global expectations for Chartered Accountants to possess technical competence, professional values and interpersonal skills.

As part of the curriculum refresh, ESG frameworks are being embedded across modules with candidates expected to evaluate sustainability disclosures, ESG risks and governance practices. Technology-focused learning outcomes including cybersecurity, data governance and digital asset accounting are also being included. The new curriculum will be launched from June 2026 and will be applicable from the December 2026 Professional Programme examinations.

iii. Assessment format changes for Foundation Programme

The assessment format for the SCAQ Foundation Programme is being updated from written essay to multiple-choice questions to align with other international accounting professional bodies’ practices. The new format will also enhance accessibility for candidates and enable the Institute of Singapore Chartered Accountants (ISCA) to arrange for more frequent examination sessions for Foundation Programme candidates, supporting them in their progress through the SCAQ Programme.