The hurdle for the business to have a localised setup along with others was the customized Financial Reporting, catering the local users and legal requirements. The pace at which the IFRS was adopted on a global mode is yet to pick up its real momentum. International Financial Reporting Standards (IFRS) are accounting standards and principles set by the International Accounting Standard Board (IASB) and are becoming global standards for preparation of financial statements. With more than 120 countries that either require or permit the use of IFRS, this knowledge is a fundamental core competency for accountants in business & industry, independent external auditors, and other finance professionals. The IFRS program will give you the skills in international financial accounting and reporting that you need to compete effectively in today's global business environment.
Approximately 120 nations and reporting jurisdictions permit or require IFRS for domestic listed companies, although approximately 90 countries have fully confirmed to IFRS as promulgated by the IASB and include a statement acknowledging such conformity in audit reports.
The International Association of Accounting Professionals is an international body based and incorporated in the United Kingdom. IAAP has been established to provide international recognition for the level of qualification achievement of accounting professionals and, through that recognition, to enhance their status in the financial and business communities. Holders of a current IAAP membership certificate can enjoy the benefits of this international recognition in their careers.