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AIA news
QUALIFICATIONS
AIA ENIC international qualification comparison published
The new AIA professional qualification has been independently assessed by the UK National Information Centre (UK ENIC, formerly NARIC) for global qualifications and skills, ensuring that it remains at the appropriately high specification. AIA first commissioned the independent evaluation and benchmarking of the updated AIA Professional Qualification for assessment in November 2021, in relation to the Regulated Qualifications Framework (RQF) in the UK.
The overall aim of this benchmarking exercise was to facilitate wider understanding of the comparable educational levels of all three levels of the programme and the AIA International Accountant designation.
The report found the following comparability in the context of the UK education system, as show. In 2022, AIA commissioned an additional independent evaluation and benchmarking of the updated AIA Professional Qualification for assessment in relation to four international qualifications frameworks: India, Malaysia, United Arab Emirates and the People’s Republic of China.
An in-depth comparison of the AIA Professional Qualification content and assessment was conducted as part of the comparative analysis in the context of the UK system in 2021. The findings and recommended levels of comparability of the AIA Professional Qualification and the three exit qualifications against the RQF in 2021 were used to determine an appropriate range of reference points in the international education systems. A comparative analysis was subsequently conducted against framework level descriptors and qualification levels in China.
The report found the following comparability in the above frameworks
AIA Qualification / Designation
Certificate in Accountancy
Diploma in Accountancy
Advanced Diploma in Accountancy
International Accountant (IA)
Professional Qualification for Statutory Auditors
Comparable Chinese Qualification Levels1
Junior College (Zhuanke) Graduation Certificate standard
Comparable Indian National Skills Qualifications Framework (NSQF) Levels Comparable Malaysian Qualifications Framework (MQF) Levels Comparable QF Emirates Levels
6 5 6
Chinese Bachelor degree standard 7 6 7
Chinese Master’s degree standard 9 7 9
Chinese Master’s degree standard 9 7 9
Chinese Master’s degree standard 9 7 9
as shown. The assessment of the qualification used a well-established methodology for benchmarking qualifications to examine each qualification’s entry requirements, duration, structure, content, learning outcomes, modes of learning, assessment and associated outcomes.
AIA President Shahram Moallemi said, ‘As part of the AIA’s ongoing qualification evaluation cycle, UK ENIC recently completed an independent review and found the AIA Professional Qualification to be comparable to a Master’s degree or postgraduate diploma across four international jurisdictions. The assessment and findings will help individuals and organisations to accurately assess the AIA Professional Qualification, make further international comparisons and reassure those using the services of AIA members that they can expect the highest standards.’
AIA also maintains its recognition as a for statutory auditors in the UK, as a Prescribed Body under the Companies (Auditing and Accounting) Act 2014 in the Republic of Ireland, and as a supervisory body under the UK and ROI Money Laundering Regulations.
AIA Qualification / Designation
Comparable RQF level
Certificate in Accountancy 6 Diploma in Accountancy 6 Advanced Diploma in Accountancy 7 International Accountant (IA) 7 Recognised Professional Qualification (Qualification as a Statutory Auditor in the United Kingdom) 7
DISCIPLINARY
Disciplinary Committee Outcomes
Serhan Cinar
Non-compliance
● Failure to supply sufficient information to facilitate a meaningful monitoring review within the period specified by
AIA. ● Failure to comply with the ruling of the Disciplinary Committee.
Findings
Member found to be in breach of AIA Public Practice Regulations 12.1 and 12.2 and Complaints, Disciplinary & Appeals Regulation 4.1.12.2
Order
The member is excluded from AIA Membership effective from 9 September 2022.
Expiry
08/09/2029
Gabriel Emiowele
Non-compliance
● Failure to cooperate with arranging or following a monitoring visit. ● Failure to cooperate with the
Disciplinary Committee ruling of 30 May 2022. ● Failure to complete an annual membership and practice return.
Findings
Member in breach of Public Practice Regulations 12.1 and 12.2; Compliant, Disciplinary and Appeals Regulations 4.1 and Membership Regulation 20.1
Order
The member is excluded from AIA Membership effective from 9 September 2022.
Expiry
08/09/2029
GREEN FINANCE
AIA’s work on green finance and sustainability
AIA plays two distinct roles in promoting green finance and sustainability. As a professional body, we are committed through our policy agenda to act as an authoritative voice within the accountancy sector to raise standards and education in green finance and sustainability. We also ensure that our members have the skills, knowledge and tools to promote sustainable business practices.
The government, the Green Finance Institute, and a number leading financial professional bodies, including AIA, are signatories of the green finance education charter, designed to embed green finance and sustainability into the core curricula, new qualifications and the continued professional development of accountants.
Each of the signatories acknowledge the collective responsibility of the global community, including the banking, finance and professional services sectors, to deliver Article 2.1c of the Paris Agreement and the UN Sustainable Development Goals.
The proposal for a Corporate Sustainability Directive (CSRD) requires that the European Financial Reporting Advisory Group (EFRAG)’s Technical Advice is prepared with ‘proper due process, public oversight and transparency, and with the expertise of relevant stakeholders, and it is accompanied by cost-benefit analyses that include analyses of the impacts of the Technical Advice on sustainability matters’, contributing to the delegated acts through which the EU Sustainability Reporting Standards (ESRS) will be adopted in the EU.
In order to meet the ambitious deadlines for submitting the first set of draft Standards to the European Commission by November 2022 and to benefit from the longest public consultation period possible, the EFRAG Sustainability Reporting Board launched a public consultation on the basis of the exposure drafts prepared under the sole responsibility of the Project Task Force on European sustainability reporting standards. These exposure drafts correspond to the first set of standards required under the CSRD proposal and cover the full range of sustainability matters: environment, social, governance and cross-cutting standards.
REPORTING STANDARDS
AIA has responded to the European Commission’s proposals outlining the adoption of EU Sustainability Reporting Standards (ESRS) linked to a Corporate Sustainability Reporting Directive (CSRD). Many SMEs – and the small practitioners (SMPs) supporting them through the provision of advisory, accounting and assurance services – stand to be impacted directly or indirectly, by the CSRD and the EFRAG’s ESRS. Our response is focused on the impact and implications for SMEs and SMPs. And our response is principle-based.
In submitting our response, we have collaborated with other members of the European Federation of Accountants and Auditors for SMEs (EFAA), with particular input from the Accounting, Assurance and EU Professional Regulation Expert Groups.
The EFAA represents accountants and auditors providing professional services primarily to SMEs both within the EU and Europe as a whole. Constituents are mainly SMPs, including a significant number of sole practitioners. EFAA’s members, therefore, are SMEs themselves, and provide professional services (e.g. audit, accounting, bookkeeping, tax and business advice) to SMEs. EFAA represents 15 national accounting, auditing and tax advisor organisations with more than 380,000 individual members.
