Trained in IT, Ms Wendy Chua worked in the industry for 20 years, but felt she was in a rut.

"I was in a job with limited growth for the last five years."

Ms Chua, 49, wanted a career in another industry where she could use her skills and experience. She chose a six-month professional conversion programme (PCP) for internal auditors.

Today, she is a senior manager in audit, tax and consulting firm RSM Singapore.

"In today's internal audit projects, it is important for the internal auditors to understand new technologies like artificial intelligence and robotic process automation so we can advise businesses on how they may implement such solutions," she said.

Ms Chua's PCP - and another for financial forensic professionals - was introduced last year for firms to hire and reskill mid-career individuals.

Manpower Minister Josephine Teo launched a third PCP at the centenary gala dinner of the Chartered Institute of Management Accountants (Cima), held at the Grand Hyatt hotel yesterday.

The new PCP is for mid-career accounting professionals to train as management accountants. It is a 10-month programme that focuses on data analysis.

Management accountants provide financial and other decision-making information to help firms map out organisational strategies. Their other skill sets include cost accounting as well as performance evaluation and analysis.

The third PCP was developed by Workforce Singapore, the Singapore Accountancy Commission and Cima.

Participants must be Singapore citizens or permanent residents who are newly hired in management accounting roles, but lack relevant experience.