IFRS (International Financial Reporting Standards) is a set of accounting standards developed in response to the growing complexities of business practices. IFRS is an internationally accepted language for business accountancy that protects businesses from unreliable measurement standards.
IFRS Certification is very important for accountancy professionals who want to make a lucrative career in finance and accounts. It will help professionals gain an advantage in their finance and accounting work. This blog will discuss career opportunities and growth scope after having IFRS certification.
Multinationals Prefer IFRS-qualified Candidates
To receive a comprehensive view of the latest advancements in compliant financial and accounting operations, organizations prefer to hire an expert with an international level of qualification. Such professionals have remarkable knowledge of the global accounting standards (such as IFRS) to handle operations by local or international standards. They also have resources to strengthen their core competencies as well as financial strengths to lead their organizations during a time of scarcity.
A Few Significant Factors That Make Ifrs Professionals Important Are Mentioned Below:
120 countries have adopted International Financial Reporting Standards (IFRS) for financial and accounting operations.
Implementing the IFRS standards is a complex process that takes substantial time. As a result, professionals who have experience and practical knowledge about IFRS global standards are scarce.
The consistent additions and modifications in the IFRS standards by the regulators also increase the need for IFRS professionals.
There is a lot of room for IFRS professionals, especially those just starting in finance, rather than those with mid-level or senior-level accounting experience. The following are some of the reasons why IFRS will be the next big thing globally.
Course Duration
The IFRS is a three-month short-term course offered by the ACCA. This program offers candidates essential financial and accounting skills to help them compete in an international marketplace. A diploma in IFRS is typically pursued along with other financial and accounting certifications such as CA (Chartered Accountants) or ACCA (The Association of Chartered Certified Accountants).
Fast Growing Career
Because there aren't many accounting professionals with practical and expert knowledge of international accounting standards, finance professionals entering the field now will have an advantage over others. Having IFRS reporting skills will help you advance in the fast-growing and competitive world of IFRS professionals.
Who Should Opt for IFRS Certification?
Professionals who have completed or are currently pursuing courses such as Chartered Financial Analyst (CFA), Cost and Works Accountant, Chartered Accountancy (CA), Company Secretary (CS), Certified Financial Planner (CFP), and MBA in Finance or Accounting should pursue IFRS certification in order to compete with global finance professionals.
The IFRS training is conducted using international paradigms, preparing them to work abroad. The implementation of IFRS in global markets created numerous job opportunities. There are numerous career opportunities for people with additional IFRS knowledge. The following are some popular occupations:
Finance Controller
A Finance Controller supervises a company's balance sheets and income statements while also ensuring that internal operations run smoothly. They also ensure that the company complies with all applicable laws and regulations. This position is intended for professionals with extensive experience in their field.
External Auditor
As an External Auditor, you will monitor a company's financial landscape and report any errors or irregularities discovered in the operations. This helps businesses stay vigilant against fraud and lack of consistency in operations and financial databases.
IFRS Expert
As the name implies, an IFRS Expert provides International Financial Reporting Standards expertise to businesses to comply with such international standards. Companies expanding their operations overseas and adhering to these standards and regulations frequently require the services of such professionals.
After Completing the Ifrs, You Will Also Be Able to Work as a:
ACCA
Chartered Accountant
Financial Consulting
IFRS Trainer
Financial Analyst
Audit and Assurance
Tax Services and Planning
Financial Advisory
Transaction Advisory Services
Strategy & Risk
The IFRS diploma course is an excellent choice if you want to expand your accounting knowledge. Bradford Learning Global is one of the most effective web platforms for IFRS courses, providing excellent training through world-class resources and faculties.