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 for 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 members of the other, subject to meeting the conditions of the agreement.

"We believe Icas' long and illustrious history as a leading professional accountancy body will serve to attract chartered accountants of Singapore to explore career opportunities in Scotland," said Mr Uantchern Loh, SAC's chief executive officer.

The EOI is "another step forward to attain global recognition for our members", said Mr Lee Fook Chiew, Isca's chief executive.

Mr Anton Colella, chief executive of Icas, said a reciprocity agreement "would bring together the chartered accountants in one of the world's most vibrant and dynamic financial centres with the global community of Icas, the world's first professional body of accountants".