Does an IFRS Certification After CA Boost Your Career?

Does an IFRS Certification Elevate Your CA Credential?

Does an IFRS Certification after CA boost your career? For Chartered Accountants (CAs), the financial landscape has changed dramatically with globalization. Understanding International Financial Reporting Standards (IFRS) has become more critical than ever. But how does adding an IFRS certification impact your CA credential? Let's explore this in detail.

The Global Shift Toward IFRS

IFRS is the preferred financial reporting standard in over 120 countries, including major economies. As businesses expand across borders, the demand for professionals interpreting and applying IFRS has soared. This global shift represents a significant opportunity for CAs primarily focusing on national accounting standards.

Why CAs Should Consider IFRS Certification

Adding an IFRS certification to your CA credential can significantly boost your career. Here's how:

• Enhances Global Relevance: IFRS certification prepares you for financial reporting in over 120 jurisdictions.
• Increases Job Market Appeal: Seventy percent of multinational companies require IFRS expertise, boosting your hiring potential by 50%.
• Facilitates Cross-Border Opportunities: IFRS knowledge increases job opportunities in global roles by 40-50%.
• Elevates Financial Reporting Skills: It can increase your earning potential by 20-30% compared to non-certified peers.
• Boosts Professional Credibility: Certification enhances your professional reputation, making you a top choice for senior roles.

Related Read: Learn about the Cost of an IFRS Certification. 

How Recruiters View an IFRS-Certified CA

• Global Compliance Skills: IFRS-certified CAs ensure a company's financials meet international standards, reducing compliance risk.
• Versatile Expertise: They work seamlessly with global teams, making them ideal for cross-border roles.
• Updated Knowledge: Recruiters prioritize candidates with recent certifications. Profiles with updated IFRS credentials can rank 50% higher on job search platforms.

Recruiter Evaluation: P-J and P-O Fit

• Person-Job (P-J) Fit: Recruiters focus on technical skills, such as IFRS certification, to ensure job suitability.
• Person-Organization (P-O) Fit: They also assess cultural alignment and values to ensure the candidate fits within the company’s environment.

Job Search Algorithm Perspective

• Prioritization: E-recruitment algorithms highlight profiles with IFRS certifications, matching candidates with relevant roles.
• Data Optimization: These systems use candidate data to optimize job recommendations, boosting visibility for qualified professionals.
• Cold Start Problem: Algorithms address this by boosting the profiles of new candidates. Freshly certified IFRS professionals get prioritized, increasing their chances of being noticed. 

Check Out the Best IFRS Certification Courses in the World for more options.

Real-Life Example: How Certification Impacts a CA’s Visibility

Imagine a recruiter searching for an IFRS-certified Chartered Accountant (CA) on LinkedIn or Naukri. Here’s how the search works:

1. Large Candidate Pool: 5,000 CAs list IFRS experience, but only 100 are certified by ACCA DipIFR or AICPA IFRS.
2. Algorithm Prioritization: The algorithm prioritizes profiles with IFRS certifications, placing the 100 certified candidates at the top of search results.
3. Top Profiles Displayed: The first results page features 100 certified candidates.
4. Recruiter’s Search Behavior: Most recruiters don’t browse beyond the first 30-40 profiles. They prefer to select from the most relevant and qualified matches quickly.
5. Impact of Certification: Uncertified candidates are pushed lower in the results, making them less likely to be noticed.

Takeaway: Having an IFRS certification, such as ACCA DipIFR or AICPA IFRS, dramatically increases your chances of appearing on a recruiter’s shortlist.

Related Read: Should I Choose Between ACCA DipIFR and AICPA IFRS?

Comparing ACCA DipIFR and AICPA IFRS Certifications

When considering an IFRS certification, CAs often evaluate options like ACCA DipIFR and AICPA IFRS. Your career goals, desired expertise level, and time commitment are crucial in making the right choice. Here's how the two certifications stack up:

ACCA DipIFR: Comprehensive Training for High-Impact Roles

• Best For: CAs aiming to work in Big Four accounting firms or multinational corporations that require deep IFRS expertise.
• Structure: It covers 28 essential IFRS standards, focusing on practical applications.
• Duration: Requires 150-250 hours of study, typically 3-6 months.
• Benefits:
  • Globally recognized and highly respected among top companies.
  • Free ACCA registration worth 89 GBP (10K INR) is available through Eduyush when you sign up for their classes, making it a cost-effective option.
• Drawbacks:
  • Demands significant time commitment and deep engagement with complex IFRS concepts.
  • Lacks a structured renewal process, meaning your knowledge may become outdated as IFRS standards evolve.

Learn More: Get Free ACCA Registration for DipIFR with Eduyush.

AICPA IFRS Certification: Flexible and Practical for Working Professionals

• Best For: CAs, accountants, and finance professionals who need a working knowledge of IFRS without the in-depth detail required for specialist roles.
• Structure: Offers an all-inclusive curriculum using extensive modules and real-world case studies.
• Duration: It is flexible and requires only 50-75 hours of study. It can be completed in 2-6 months, making it ideal for busy professionals.
• Benefits:
  • We are recognized globally, particularly valuable for roles in or with US-based firms and their subsidiaries.
  • Includes a structured renewal process every two years, ensuring your knowledge stays current. This ongoing update involves a brief, cost-effective exam ($50) to maintain relevance, boosting your appeal to recruiters.
  • Available at special pricing in India through Eduyush, significantly reducing the cost.

Discover More: AICPA IFRS Certification at India Pricing via Eduyush.

The Career Impact of IFRS certification: Real Benefits for CAs

• Expanding Career Opportunities: IFRS certification opens doors to roles like financial controller and CFO. Eighty percent of global corporations prefer IFRS-certified CAs for these high-level positions due to their expertise in international financial standards.
• Corporate Roles: IFRS-certified CAs are highly sought after for leadership positions in corporate finance. Having IFRS knowledge can increase your chances of being promoted to CFO by 30-40%, especially in multinational companies.
• Path to Being a CFO: A strong understanding of IFRS is crucial for aspiring CFOs. 65% of CFOs in top firms have advanced IFRS expertise, as they oversee financial reporting across international markets.
• Consulting: IFRS expertise is essential for consulting roles dealing with international clients. CAs with IFRS certification are 50% more likely to be considered for advisory positions in global consultancies.
• Auditing: Multinational audit firms like the Big Four require deep IFRS knowledge. CAs certified in IFRS can increase their hiring potential by up to 60%, as IFRS standards are mandatory for auditing global companies.
• Increased Earning Potential: CAs with IFRS certification can command 20-30% higher salaries than those without, especially in finance hubs like London, Dubai, or Singapore. The need for IFRS expertise is expected to grow by 10-15% annually as more countries adopt these standards.
• Greater Market Demand: With over 120 countries using IFRS, companies always seek professionals with this expertise. IFRS-certified CAs have a strategic advantage, making them valuable assets in any global financial landscape.

Should You Invest in an IFRS Certification as a CA?

Investing in an IFRS certification makes sense if:

• You Aspire for Global Roles: If working abroad or in multinational corporations is a goal, IFRS expertise is almost mandatory.
• Your Clients Are International: Being well-versed in IFRS can improve advisory services and client relationships.
• You Want to Stay Competitive: In a world where global compliance is critical, having IFRS skills keeps you ahead of the curve.

Conclusion

Does an IFRS certification elevate your CA credential? Absolutely. It enhances your global relevance and equips you with advanced financial reporting skills highly valued in today’s job market. Whether you choose ACCA DipIFR for foundational knowledge or AICPA IFRS for comprehensive expertise, the investment can pay significant dividends in your career.

Ready to Elevate Your Credential? Explore your options and invest in an IFRS certification that aligns with your career goals. For personalized guidance on choosing between AICPA IFRS or ACCA DipIFR, contact the Eduyush team for a counseling session. Reach out via email at info@eduyush.com or call +91 9643308079 to get expert advice tailored to your needs.