The Internal Audit function, as part of the Risk and Governance service lines for the Accounting Sector, continues to grow in importance in Singapore as internal auditors provide assurance and advice on organisations’ risks, controls and governance. According to the Jobs Transformation Map for Accounting Practices, the internal audit function is expected to experience continuous growth in headcount.

The Career Conversion Programme (CCP) for Internal Auditors is a programme by Workforce Singapore (WSG), in collaboration with the Institute of Internal Auditors Singapore (IIA) and the Accounting and Corporate Regulatory Authority (ACRA). The six-month CCP programme aims to equip mid-career individuals with the necessary skillsets to take on Internal Audit roles.  

Mid-career individuals hired and placed under the CCP will undergo a six-month training programme by the hiring employers. The CCP is On-the-Job-Training (OJT)-centric, covering core Technical Skills and Competencies (TSCs) and Critical Core Skills (CCS).

Individuals

The Programme is open to all company-sponsored applicants who meet the following General Eligibility Criteria:

• Be a Singapore Citizen (SC) or Permanent Resident (PR) aged 21 years and above;
• New hires must have graduated or completed NS, whichever is later, at least two years at the point of application;
• Must be a newly hired PMET (i.e. not more than three (3) months from date of employment), and nominated by an eligible company for the CCP;
• Must not be in a similar job role prior to joining the CCP;
• Must not be a shareholder of the participating company, or its related companies;
• Must not be related to the owner(s) of the participating company; and
• Must not be immediate ex-staff of participating company or its related companies.

Employers

• Registered or incorporated in Singapore with a valid Unique Entity Number with Accounting and Corporate Regulatory Authority;
• Offer a full-time PMET position related to job role which the CCP is for and at least a 12-month employment contract;
• Ensure that new hires are not:
  • A shareholder of the CCP company, or its related companies;
  • Related to the owner(s) of the company; and
  • Immediate ex-staff of the company or its related companies.
• Must put in place structured on-the-job training for the candidate; and
• Commit to CCP training arrangements for the trainees

Individuals:

Applications received will be routed by the Programme Partner, The Institute of Internal Auditors Singapore, to participating employers for review. Suitable candidates will be shortlisted for interview, and successful candidates will be offered employment by the participating employers before embarking on the CCP and commence on the six-month training programme.

Frequency of runs: Ongoing intakes throughout the year, depending on the availability of job vacancies from the participating employers.

Employers:

Employers interested in hiring mid-career individuals under the CCP must commit to working with WSG and the appointed Programme Partner on necessary administrative matters related to the CCP.

Funding support

*Note

• For trainees who commence training from 1 April 2024
• For trainees who commence training before 1 April 2024, the funding is capped at $4,000 and $6,000 for Standard Rate and Enhanced Rate, respectively.