Training

IFRS Certificate Program
 
FREQUENTLY ASKED QUESTIONS

1. What is the IFRS Certificate Program?

The AICPA’s IFRS Certificate Program was specially designed to help accountants build the knowledge needed in International Financial Reporting Standards for success in today’s global business world. Knowledge of IFRS is now standard entry-level practice for CPAs. As IFRS use spreads around the world, it’s important for many in the profession to be bilingual – that is, know both U.S. GAAP and IFRS.

2. Why should I participate in this program?

The program will help you demonstrate to current and future clients and employers knowledge in understanding and applying IFRS. As such, it will help you meet marketplace demands and enjoy enhanced career opportunities. The AICPA has long been a proponent of the goal of one set of high-quality accounting standards for use worldwide by public companies and has made CPA preparedness a priority since 2008. The IFRS Certificate Program is the latest of such efforts and our most comprehensive educational resource to date.

3. Is the Certificate program available to both CPAs and other accounting professionals who are not CPAs?

Yes.  The courses that comprise the IFRS Certificate Program curriculum are available for CPAs, CAs and other accounting professionals who do not have one of these credentials or their equivalent.

CPAs and CAs.  Individuals who possess an active or inactive CPA, CA or equivalent will earn an IFRS Certificate of Educational Achievement upon successful completion of the entire curriculum.  All courses will qualify for continuing education credit.

Other Accounting Professionals.  Accounting professionals who do not hold a CPA, CA or equivalent certificate will earn an IFRS Award of Educational Achievement upon successful completion of the entire curriculum.  In order to enroll in the Award program, other accounting professionals will be asked to certify that they have received an undergraduate degree in accounting or otherwise obtained relevant work experience that requires the practical application of fundamental accounting principles and concepts.

4. What level of knowledge should I possess prior to starting the Certificate program?

All individuals pursuing the IFRS Certificate of Educational Achievement or the Award of Educational Achievement should possess a general awareness of IFRS.  It is not necessary to have a detailed knowledge of the body of IFRS literature upon initiation of the program but individuals should possess a basic understanding and awareness.  Individuals should understand, however, that a higher level of awareness of IFRS will require less time to complete the entire curriculum.

Other accounting professionals pursuing an Award of Educational Achievement must have received an undergraduate degree in accounting or otherwise obtained relevant work experience that requires the practical application of fundamental accounting principles and concepts.

5. What course topics are included in the curriculum?

6. I understand that the training materials, while providing a comprehensive introduction to IFRS, do not provide a full discussion of all the details of every standard. What if I want to learn more about individual requirements?

Your enrollment in the AICPA's IFRS Certificate Program includes a subscription to eIFRS, as long as you are an active participant in the program.  eIFRS is maintained by the IFRS Foundation.  It provides you with immediate online access to International Financial Reporting Standards (IFRS) and International Accounting Standards (IASs). The eIFRS Online Subscription Service also gives you access to translated versions of IFRS and IASs, currently available in Dutch, French, German, Greek, Italian, Russian, Slovak and Spanish, with other languages to follow.  eIFRS includes additional educational materials, advanced electronic search capabilities and other guidance not available to non-subscribers.

An annual subscription to eIFRS costs £200 but is yours as part of enrolling in the AICPA's IFRS Certificate Program.

7. What other resources are included with the certificate program?

Participants in the IFRS Certificate Program receive a variety of resources designed to provide practical and more detailed guidance and up-to-date information on IFRS developments. These resources include:

• Access to IFRS Connection, a library of podcasts that provide practical suggestions on the application of the IFRS from experts who have implemented and applied the standards for their clients or employers.

• Discounts on other AICPA IFRS products, including conferences, publications, webcasts and other training courses (conferences, webcasts and training courses all are eligible for CPE credit).

8. How long will it take me to complete all of courses of the IFRS Certificate Program?

This varies from individual to individual and is completely dependent upon the time the participant allocates to completing the coursework. We currently plan that a commitment of approximately 41.5 hours typically will be required for most individuals to successfully complete the program.

9. What period of time do I have to complete the entire curriculum?

Once you enter the program you have twenty-four (24) months from the date you start the first course. You are encouraged to complete the program within a twelve (12) month period or less.

10. Once I complete the curriculum and obtain my IFRS Certificate or Award, is there a time period for which it is “active?”

No.  Neither the IFRS Certificate nor the IFRS Award is a professional credential or license.  It is evidence of successful completion of a required course curriculum as of a point in time.  As a result, it has no period for which it is deemed “active” or in-force.

11. Am I required to obtain a certain number of CPE credits annually for the Certificate to remain current and active?

No. Neither the IFRS Certificate nor the IFRS Award is a professional credential or license. It is evidence of successful completion of a required course curriculum as of a point in time. As a result, it has no period for which it is deemed “active” or in-force.

12. If I am a CPA, will I receive CPE credit toward my CPA license if I take this program?

Yes, all the courses in the IFRS Certificate program will qualify for CPE credit. The AICPA is a NASBA-approved provider of CPE.

13. How many credits of CPE will I receive if I earn the Certificate?

Completing the curriculum will result in earning approximately 41.5 credits. All of these credit hours will qualify for CPE credit and can count toward meeting your state’s CPE requirements.

14. Will the CPE credit satisfy my requirements for CMA, CIA or other certifications?

The courses in the IFRS Certificate program will be classified as Accounting for purposes of granting CPE credits. As with other AICPA courses that are approved for other certifications, we fully expect the IFRS Certificate courses will satisfy those requirements. To be certain, please check with the organization that issues your CMA, CIA or other certifications.

15. If I am unable to complete the entire IFRS Certificate Program, will I receive CPE credit for the courses I do complete?

Yes. The courses are offered individually, so you will earn NASBA QAS CPE credit for each course you take and successfully complete the exam. You are not required to complete the entire program to earn CPE credit. However, you must successfully complete the exam for all courses in the entire program in order to receive the IFRS Certificate or Award.

16. I have prior experience in working with IFRS. Will I be allowed to test out of certain courses while still earning the certificate?

Actual completion of the courses is required to earn the IFRS Certificate. CPE credit is being awarded for the courses, and the CPE standards do not allow for “testing out of” a course as a way to earn credit.

17. Is the entire program fixed, or are their elective courses I can select from in earning the certificate?

The curriculum for both the IFRS Certificate and the Award is fixed. It is designed to provide a comprehensive, broad-based coverage of IFRS and a measurable standard for evaluating competence in understanding and applying the international accounting standards. Therefore, to earn the IFRS Certificate or IFRS Award, you must complete the entire curriculum as specified. In the future, other courses will be developed to enable you to study certain topics in more detail.

18. If I register and pay for the entire program, and subsequently find that I cannot complete it, will I receive a partial refund?

We offer a 30-day money-back guarantee if for any reason you are not 100% satisfied with the program; however, program fees will be refunded on a pro-rata basis and, if there are courses where the exam has been completed and CPE credit has been granted, the full retail value for the course(s) will be deducted from the refund amount.

The program is designed for maximum efficiency for the learner.  The modules are available in e-learning, allowing the individual to schedule training at their convenience.  And, while the recommended time for completion is twelve months, the maximum time for completion is two years.  These features should make it easy for an individual to complete the program.

19. What are the systems requirements for the e-learning portion of the program?

The basic requirements include high-speed internet access and the most recent version of a web browser.

20. How much does the program cost?

The cost to complete the entire program of 41.5 CPE credits depends on whether you are a member of the AICPA or a non-member.  All fees are payable upon registration.

Program fees, AICPA member:  $1,195 USD

Program fees, non-member:     $1,695 USD

21. I do not need to learn about the entire body of IFRS literature but just a few select topics that are specific to my job. Can I purchase individual titles in the IFRS Certificate Program separately?

Yes. Courses in the Certificate Program may be purchased individually. However, purchasers of individual courses will not receive the subscription to eIFRS, discounts on other AICPA products, and other benefits provided to Certificate Program participants. The prices for individual courses are $50 for AICPA members and $70 for non-members.