ISCA workshop showcases practical AI use cases for accountants

The Institute of Singapore Chartered Accountants (ISCA), together with OpenClaw SG, has hosted a hands-on session on AI and its use in the accountancy sector.

The workshop, held last month under the theme ‘Accounting and Finance Frontiers’, drew more than 250 attendees.

Participants included finance practitioners, business leaders and AI developers, the ISCA said.

Content at the event centred on how AI agents can be embedded into day-to-day accounting processes.

Live demonstrations illustrated how customised AI tools can handle tasks such as data extraction, analysis, reporting, project coordination and monitoring of deadlines.

Demonstrations were given by AI Capitol and OpenClaw SG founder Lionel Sim, IntelWave chief architect Richard Lee, and Daisy Consultants accountant and founder Darryl Wong.

Their demonstrations pointed to ways AI systems could boost efficiency and aid decision-making in finance teams.

The initiative comes amid rising interest in practical AI capabilities in Singapore’s accounting industry, which numbers around 120,000 professionals.

The workshop was part of the ISCA’s move to ready finance professionals for increasing automation, data-driven work and AI-enabled processes.

ISCA chief technology officer (CTO) Edmund Liu said: “Professionals will need to bridge business and technology with a working understanding of both accounting and AI.

“While full automation will take time due to the judgment and regulatory nuance involved, AI has strong potential to streamline repetitive work and enhance productivity. Accountants must play an active role in shaping how it is applied.”

To help the sector adapt, the ISCA plans to introduce an AI Fluency Programme, with support from the Infocomm Media Development Authority.

The ISCA said the programme will be offered without charge to ISCA members, as well as Singapore citizens and permanent residents who want to apply AI within accounting roles.

Last month, the ISCA and the Law Society of Singapore signed a memorandum of understanding to bolster cooperation between the legal and accounting sectors.

“ISCA workshop showcases practical AI use cases for accountants” was originally created and published by The Accountant, a GlobalData owned brand.

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