TheAICPAannounced today a large step forward in collaborating with theInstituto Nacional de Contadores Públicos (INCP), Colombia’s largest member organization representing public accountants, as the South American nation prepares itself for a single set of high quality international accounting standards.
As globalization creates new opportunities for business, knowledge of internationally recognized standards has become essential for accountants. Colombia has made a commitment to set its accounting regulations with International Financial Reporting Standards(IFRS), a set of standards used in more than 100 countries. Next year, public companies in Colombia will be required to use IFRS, while most small and medium-sized businesses will adopt the standards by 2016.
To help Colombian accounting professionals prepare for this transition, the AICPA and the INCP have signed a translation agreement allowing INCP members to have access to some of AICPA’s thought leadership—including theCPA Horizons 2025 Report, a collection of trends and forecasts for the profession—as well as relevant articles from the AICPA’sJournal of Accountancy. Those translations, in turn, will be available on theJournal of Accountancywebsite. The INCP will also have exclusive right to market the AICPA’s Spanish-language version of its IFRS certificate program within Colombia.
“This agreement with INCP has great benefits for both of our organizations’ members,” saidJoanne Fiore, the AICPA’s vice president of professional media, pathways and inclusion, 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.”
TheIFRS certificate programis 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 on the IFRS and the AICPS's certificate program, visit the IFRS websitehere.