Accountancy Industry Digital Plan (IDP)
Launched on 22 August 2019, the Accountancy Industry Digital Plan (IDP) aims to digitally transform the accountancy sector. The IDP will help Small and Medium-sized Practices (SMPs), which make up 98% of the accountancy industry, to adopt technology for greater competitiveness and productive.
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The Basis of IDP
On 29 June and 17 August 2018, workshops were held for 41 SMPs to understand their challenges, uncover digital trends disrupting the Accountancy sector, and how these challenges can be overcome using technology. Initiatives to support the SMPs on their digitalisation journey were then developed and validated by 46 SMPs.
The Accountancy IDP is part of IMDA’s SMEs Go Digital Programme that helps to make going digital simple for SMPs.
In February 2019, Finance Minister Heng Swee Keat announced during Budget 2019 that the SMEs Go Digital Programme will be expanded to include the Accountancy sector. The Accountancy IDP helps SMEs build strong digital capabilities to participate in the Digital Economy.