ACCA launches innovations to shape future of global accountancy

The new design of the qualification draws on an extensive, two-year review and consultation with members, employers and learning providers.

In April 2016, India chose the path of IFRS (International Financial Reporting Standards) convergence and introduced Ind-AS (Indian Accounting Standards). Ind-AS is modelled along the lines of IFRS, which is internationally accepted accounting standards, and it upgrades India’s accounting standards to an international level.

This has created the necessity for a new, modern day accountant who can understand the dynamic nature of Ind-AS and can successfully implement it.

“The ACCA qualification combines local relevance with international best practice. We are excited to bring these developments to India, as it now stands at the cusp of financial transformation, in order to plug existing skill gaps by providing a truly global qualification,” said Md. Sajid Khan, Head of International Development.

“By supplementing the accountancy profession with skill sets that have been devised keeping in mind the dynamic nature of the profession and drivers of change like automation and globalisation, we are creating finance professionals who are capable of supporting and driving India’s economic growth,” he said.

Raymond Jack, Executive Director, Finance and Operations added that the new emphasis for the qualification is a major step forward for the future of accountancy.

“Today accountants are increasingly being called upon to demonstrate that they are strategic forward-thinkers as they play senior executive roles in business. ACCA has responded accordingly with a qualification that offers the complete and essential blend of technical and ethical accounting competencies mixed with strategic leadership and professional skills required to turn students into the confident, inspiring and trusted business partners that employers need,” Jack said.

“We’re delivering a qualification that meets the demands of professional accountants in the 21st century, while maintaining the rigorous standards of technical, ethical and professional skills that has established ACCA as the international benchmark for accountancy qualifications,” said Judith Bennett, FEDS (Flexible Exam Delivery Programme) Programme Director, ACCA, at the event.