Accountancy qualification embraces e-learning for new standards

A new e-learning qualification is available for people in accounting jobs that covers a new international standard and its public sector equivalent.

The Certificate in International Public Sector Financial Reporting is said to be the first qualification of its kind aimed at a growing demand within public sector finance.

Two London-based UK accounting bodies, the Chartered Institute for Public Finance and Accountancy (CIPFA) and the Institute for Charted Accountants in England and Wales (ICAEW) have teamed up to develop the course which is said to be of worldwide significance.

According to a CIPFA press release the easy adaptation of the new method of reporting can assist with observing emerging markets.

ICAEW chief executive Michael Izza believes it will help revolutionise the "cultures, structures and processes" surrounding public spending.

He added: "This qualification will provide a benchmark for finance professionals, not just in the UK but around the world as adoption of international financial reporting standards (IFRS) is extended across the public sector."

Britain, along with other G-20 countries, has set a 2011 deadline to adopt the new international standards such as IFRS proposed by the London-based International Accounting Standards Board.

Updated: 08 March 2010.
Categories: finance-and-accounting, market-and-industry-news.