The American Institute of CPAs has broadened its relationship with Instituto Nacional de Contadores Públicos, Colombia’s largest member organization representing public accountants.

The broader relationship comes as the South American nation prepares for its move toward a single set of high quality international accounting standards. 

Colombia has made a commitment to converge its accounting regulations with International Financial Reporting Standards, a set of standards mandated for use in more than 100 countries. Public companies in Colombia will be required to use IFRS next year, while most small and midsize businesses must adopt the standards by 2016.

To help Colombian accounting professionals prepare for the shift to IFRS, the AICPA and the INCP have inked a translation agreement allowing INCP members to have access to some of AICPA’s thought leadership—including the CPA Horizons 2025 Report, a compendium of trends and forecasts for the profession—along with relevant articles from the AICPA’s Journal of Accountancy. Those translations, in turn, will be available on the Journal of Accountancy website. INCP also will have exclusive right to market the AICPA’s Spanish-language version of its IFRS certificate program in Colombia.

“This agreement with INCP has great benefits for both of our organizations’ members,” said AICPA vice president of professional media, pathways and inclusion Joanne Fiore in a statement. “We’re proud of the diverse, in-depth content we provide to CPAs, and having it available in Spanish makes it even more valuable.”

The IFRS certificate program is a special curriculum of 25 self-study courses designed to help CPAs and other accounting professionals build knowledge and competencies related to the international standards. For more information about IFRS and the AICPA’s certificate program, visit IFRS.org.

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