ACCA, Association of Chartered Certified Accountants, UK
ACCA is the global association of finance and accounting professionals. The Association's purpose is to offer the most preferred qualifications for practical, capable and ambitious people around the world who aspire to successful careers in the fields of accounting, auditing, finance and management. The association brings together 227,000 members and 544,000 students in 181 countries, helping them build successful careers with the skills needed by business.
АССА имеет офисы в 101 стране мира и сотрудничает с 7291 аккредитованными работодателями. Также, АССА напрямую координируют с советом IFRS, который является доминирующим органом занимающимся изданием международных стандартов финансовой отчётности.
Why ACCA? Is ACCA qualification in demand in Uzbekistan?
More than!
The ACCA qualification is designed to provide professional knowledge, skills and professional values in the field of finance, accounting and auditing in accordance with IFRS (International Financial Reporting Standards). Having an ACCA qualification helps financial professionals build a successful career in any field: they can work in the public or private sector, an accounting firm, a foreign company or run their own business.
According to the resolutions of the President of the Republic of Uzbekistan dated September 12, 2017 No. PP-3270 “On measures to further develop and increase the stability of the banking system of the Republic” and dated February 24, 2020 No. PP-4611 “On additional measures for the transition to international financial reporting standards”, training of bank employees under the international training program for accountants "ACCA" (Certified Chartered Accountant) is included in the Set of measures (Appendix No. 1 of the first order, paragraph 45) provided for by banks starting in 2018. This complex is included in the Action Strategy for five priority areas of development of the Republic of Uzbekistan in 2017-2021. Paragraph 30 of this resolution attaches great importance to the development by commercial banks of long-term development strategies aimed at the qualitative transformation of banks into financially stable and competitive banking institutions operating on the basis of best practices and international standards.
Also, a significant benefit of studying under the ACCA program is the mastery of international auditing standards (ISA) and financial reporting standards (IFRS), which prepares graduates to work according to these standards at a professional level. This trend fulfills the tasks described in the Decree of the President of the Republic of Uzbekistan dated September 19, 2018 (PP-3946), “On measures for the further development of audit activities in the Republic of Uzbekistan.”
Will I be able to find a job after completing the ACCA program?
Easily.
“2020 is a transition period for business entities to prepare for the application of IFRS (train specialists in IFRS, develop accounting policies, analyze the compliance of IT systems for preparing financial statements under IFRS, and also assess the readiness of the business to change in accordance with IFRS requirements).
From January 1, 2021, a certain list of legal entities of public interest (joint stock companies, commercial banks, insurance organizations and legal entities classified as large taxpayers) will switch to mandatory application of IFRS. By the end of 2021, these persons must ensure a sufficient number of accounting employees of at least 3 specialists for the high-quality application of IFRS.”
From the document “Implementation of International Financial Reporting Standards (IFRS) in Uzbekistan”,
Ministry of Finance of the Republic of Uzbekistan.
