Institute of Chartered Accountants - IFRS Learning and Assessment Programme

Individuals trained for IFRS by the Institute of Chartered Accountants in England & Wales know they have a prestigious learning and assessment programme that is recognised worldwide. The Institute of Chartered Accountants in England & Wales (ICAEW) is Europe's leading accountancy body and offers a number of prestigious qualifications and awards including: ACA, IFRS, Corporate Finance (CF) and the University of Oxford Diploma in Financial Strategy.

The ICAEW's highly regarded IFRS Learning and Assessment Programme is designed to help the global business community prepare adequately for the requirements of IFRS, and to offer formal recognition for individuals' implementation skills and experience.

The ICAEW's IFRS solution incorporates a renowned assessment programme, supported by a comprehensive set of learning materials, which will enable a more thorough understanding of the international standards and the ability to assess their commercial impact on individual organisations.

HISTORY AND OVERVIEW

The ICAEW was incorporated by Royal Charter in May 1880. As a Chartered body, the Institute operates primarily in the public interest.

The ICAEW is the UK's leading accountancy body, and the largest in Europe, with over 127,000 members working in business and public practice in 143 different countries. Over 16,000 members live and work outside the UK. The ICAEW also has some 9,000 students.

The ICAEW's qualifications and awards are recognised around the world as prestigious professional business certifications. Members of ICAEW are entitled to the description Chartered Accountant and the designatory letters ACA or FCA.

The ICAEW undertakes or facilitates a wide range of professional activities, including education and training of students, continuing professional development for members, maintenance of professional and ethical standards, cutting-edge work on technical accounting issues, and the provision of advice and services to members.

The ICAEW is the largest member of the Consultative Committee of Accountancy Bodies (CCAB), a grouping of the UK's six professional accountancy bodies, and has a significant representative role with government, the European Commission and influential international bodies.

IFRS LEARNING AND ASSESSMENT PROGRAMME

As Europe's leading accountancy body, the ICAEW is able to provide a highly effective method to prepare for IFRS. It has developed a learning and assessment programme to cover all international standards effective from 2005. The programme is open to everyone with an interest in IFRS, whether from an accounting background or not.

The IFRS programme has been developed by dedicated IFRS specialists, and is available on both an individual and a corporate basis.

The programme, comprising comprehensive and fully flexible learning materials and an assessment at two levels (certificate and diploma), enables candidates to:

• Understand and apply IAS and IFRS in a business context
• Produce and interpret financial statements and information
• Make more informed business decisions
• Assess the standards' commercial impact on their business
• Provide practical business advice
• Keep up to date with future changes to the standards through regular updates

Furthermore, for those individuals who need to demonstrate competence in IFRS, or who are looking to enhance their career prospects as IFRS specialists, the IFRS assessment offers two highly respected awards – one at certificate level and another at diploma level.

CORPORATE FINANCE QUALIFICATION

The CF qualification has been designed by leading practitioners to focus on corporate finance, and to deliver real-world skills, in-depth knowledge and an enviable network of contacts to those seeking to develop their careers.

Upon completion of all three stages and acquisition of the necessary work experience, candidates will be awarded the CF designation.

The CF qualification is offered in three stages: certificate (excluding Americas), diploma and advanced diploma.

Completion of each stage is a prerequisite for progressing to the next. Once candidates have successfully completed the stages and gained the required amount of work experience, they will be awarded the prestigious CF qualification and be entitled to use the letters CF after their name.

Senior corporate finance professionals may be awarded the CF designation if they have at least six to eight years of relevant experience and meet certain other criteria.

UNIVERSITY OF OXFORD DIPLOMA IN FINANCIAL STRATEGY

The Diploma in Financial Strategy has been developed by the ICAEW in partnership with the Oxford University Saïd Business School and training firm CCH.

It is a Masters-level course providing senior accountants in roles including chief finance officer, finance director, treasurer and controller with the opportunity to study relevant subjects with minimal disruption to their working life.

The diploma comprises four modules (Strategy, Finance I, Finance II and Management Control Systems), each of four full days teaching in four teaching periods – March, June, September and December.