SINGAPORE - Three professional accounting bodies have made moves to build closer ties.

The Singapore Accountancy Commission (SAC), the Institute of Singapore Chartered Accountants (ISCA), and the Institute of Chartered Accountants of Scotland (ICAS) have signed an Expression of Intent (EOI).

This will pave the way towards potential reciprocity for members of ICAS and ISCA, the entity which confers the Chartered Accountant of Singapore professional designation.

A reciprocity agreement sets out the framework for members of one body to become a member of the other, subject to meeting the conditions of the agreement.