Discover the Best IFRS Certification Course in the World: A Comprehensive Review!

Best IFRS Certification course for 2024

Choosing the right IFRS certification course can be a daunting task. There are so many different IFRS course available, each with its advantages and disadvantages. So, which is the best IFRS course?

This blog post will compare three of the most popular IFRS course available and help you decide which one is right for you. 

We have shortlisted the following three best IFRS certification courses around the world. We review these individually. 

• ACCA Diploma in IFR
• AICPA IFRS certification
• ICAEW IFRS program

Quick comparison between the three bodies for IFRS course

Where should I do the IFRS certification course? 

When getting an IFRS certification, we recommend taking it from Global Authoritative Accounting bodies. The top 3 reasons for the same are:

• Global mobility - Recruiter endorsement across countries is much higher, giving you global mobility.
• Global skill benchmarking. The assessments are developed based on inputs from the industry. The accounting bodies get feedback from global CFOs on the exact skills they are looking.
• Trust & familiarity- Most of the global CFOs are members of one of these accounting bodies and would prefer students endorsed by them

All the accounting bodies have online courses and can be taken from anywhere in the world.

There are several institutes and tuition providers who do give you an IFRS certification, but It's not a good idea to get a certificate from them for the following reasons:

• They don't have the authority to give you a certification
• Profile searches on job sites or LinkedIn are higher for students certified by a global accounting body.
• A certificate from a tuition partner is viewed as a tick in a box. Recruiters often view it as a participation certificate and don't take it seriously.

Which is the best institute for IFRS certification?

We looked at various accounting bodies like AICPA, ACCA, CMA, CFA and CIMA and have picked the top 3 Global Authoritative Accounting bodies issuing the IFRS certification. (updated as of January 2024)

All three bodies have a very similar curriculum and are aligned to the latest International financial reporting standards issued. Each has its pros and cons; we give you a brief overview of each of these certifications.

Also read the best US GAAP certification in the world

ACCA Diploma in IFRS (DIPIFR) U.K.

Association of Certified Chartered Accountants. ACCA issues certificates in IFR (CertIFR) and Diploma in IFR (DIPIFR). The ACCA DIPIFR is obtained by passing a three-hour exam held twice a year, while the ACCA CertIFR is obtained by passing an MCQ of 60 questions. We recommend the ACCA DIPIFR as the better of the two. 

Key takeaways of diploma in IFRS

• Recognition - Globally recognized in 100+ countries
• Exam: - 3-hour computer-based exam held twice a year
• Exam location: - over 140 centres globally
• Passing criteria: - 50% (100 marks paper)
• Format of paper: Subjective, Case study based.
• Eligibility : C.A., CMA or anyone with 3+ years of work experience in INDAS or IFRS. We dont recommend this for B.com students unless they have prior knowledge on INDAS or IFRS
• Investment: - Time 150 -250 hours, Total cost INR 30,000 (all fees including training and ACCA fees)
• Watch a Video below to understand how Eduyush will help you.

• Recruiter acceptance: Global
• Eduyush expert recommendation: Best suited for CA/CMA or anyone having a solid background in Accounting standards. Global pass rates are 35% to 40%. Take this course only if you can invest time and have a fundamental knowledge of accounting standards. 

IFRS Certification After BCom: AICPA vs. ACCA 

AICPA IFRS certificate program.

The Association of Internationational Certified Public Accountants. AICPA (U.S.) issues the IFRS certificate program with ifrs.com. The AICPA is the world's largest accounting body. The AICPA IFRS certification is obtained by passing assessments in over 25 modules and scoring 70% in each module. This is a dual certificate of AICPA and CIMA 

Key takeaways of AICPA IFRS course

• Recognition - Globally recognized in 180+ countries
• Exam: - Self-assessment online
• Exam location: - Online
• Passing criteria: - 70% with multiple retakes within one year
• Format of paper: MCQ (Approx 220+ questions)
• Eligibility: No entry requirements
• Investment: - Time 40 -80 hours, Total cost 1245 USD (INR 110,000), avail it at India pricing at INR 29,000.
• Recruiter acceptance: Global
• Eduyush expert recommendation: Ideal for any finance professional who needs a global IFRS certification and doesn't want to go through an exam process. The concepts are easy to understand; certification can be obtained in 30 to 90 days. The Digital badge and dual certifications by AICPA and CIMA are a bonus.

ICAEW (U.K) IFRS learning and assessment programme

The Institute of Chartered Accountants in England and Wales has an IFRS certificate program. Students need to take an online assessment from hundreds of random simulated questions. 

Key takeaways

• Recognition - United Kingdon
• Exam: - Self-assessment online
• Exam location: - Online
• Passing criteria: - 60% with multiple retakes within one year
• Format of paper: MCQ (60 questions to be completed within 2 hours)
• Eligibility: No entry requirements
• Investment: - Time 70 -100 hours, Total cost 450 GBP (INR 48,000)
• Recruiter acceptance: UK
• Eduyush expert recommendation: Ideal for students who are planning to work in the U.K. or the E.U. as recruiter impact is higher. The course structure is well laid out and gives you clear and concise foundational knowledge.

While there are many BIG 4, like KPMG, PWC, EY, and Deloitte, which issue the IFRS certifications, these are good. 

But when it comes to investing your time and effort, the certificates issued by the Global Accounting bodies will get you better global recruiter endorsement and salaries. 

Eduyush Recommendation

Choose between either ACCA or AICPA. ACCA is good for CA's with less than 7-10 years of work experience. AICPA is good for all finance professionals or those who cant devote time to study for an exam.

Closing comments:

So if you are looking for an IFRS certification that will give you global mobility and help you benchmark your skills against the best in the world, look no further than one of the Global Authoritative Accounting Bodies. Our team at Eduyush is here to help you find the right course and start your journey to becoming a globally recognized accountant.

Don't forget to discuss choosing which one of these accounting bodies is right for you - it could be the difference between landing your dream job or not.