I first heard of FIA/ACCA qualifications when I was in my last days at High school, at which I decided I would have a career in finance, auditing to be specific. When I got admitted to the university, I began researching for more information on these qualifications. Sadly, however, what I got were merely old clichés, saying in general that ACCA qualification was so great, and a high salary was promised for those who had one. If it was holding me back that these sayings supposed to mean, I admit they did a very good job, maybe just too good.
One day, I personally attended a conference on Careers in Finance, and there came one lady whose name I missed but what she said was brief and right on the point: the wide adoption of International Financial Reporting Standards (IFRS) and the fact that ACCA curriculum happened to be based on IFRS!
As I digged deeper into the relationship between IAS/ IFRS and other accounting standards such as GAAP or VAS – Vietnamese Accounting Standards, I was overwhelmed with how IFRS was changing the game. Although Vietnam falls in the white area in the map of IFRS domination, I still figured out many similarities between two standards. And I am sure VAS does bear a strong resemblance to its more worldwide neighbor IFRS. And to be more assused of such, the event of Vietnam getting prepared for its Asean Economic Community – AEC – integration, which is expected to take place at 2015 year-end, it is getting clearer that VAS standard-setters will do something to bring VAS even closer to IAS/ IFRS.
Considering those facts, ACCA offers its members a huge advantage, advantage of preparation. Speaking of Vietnam, it is required that audit practitioners are qualified by Ministry of Finance, ACCA also alows its member an opportunity of converting into specific countries’ professional certificates, VACPA for Vietnam for example.
In general, regardless of how long it may take before VAS fully adopts IFRS or whether such vision will be reality, ACCA proves itself to be a good preparation for those who are willing to be financial professionals.
Nguyễn Hoàng Khanh – Cuộc thi học bổng FIA/ACCA AIS 2015