Major boost for finance and accounting students

April 12, 2022 | 14:04
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During March and April, the Vietnam Association of Certified Public Accountants (VACPA) and a number of universities signed cooperation agreements to offer the International Financial Reporting Coordination Certificate (IFRS) course to students majoring in Finance and Accounting.

On April 8, the Association of Chartered Certified Accountants (ACCA) signed a cooperation agreement with Ba Ria-Vung Tau University (BVU).

This is not the first such agreement, and more are planned for the near future.

Major boost for finance and accounting students
The signing ceremony between ACCA and BVU is one of several to offer the IFRS course

The IFRS is being applied almost entirely in more than 100 countries worldwide, including some countries in Southeast Asia.

With a strong network of members and partners, the ACCA and the VACPA realise their roles in shaping the development of the accounting and auditing profession and supporting the implementation of international standards.

The ACCA-VACPA Joint Certificate in International Financial Reporting proves a quick, cost-effective, and efficient solution to meet the needs of the nation.

At the event, Graham Stuart, British prime minister’s trade envoy to Vietnam, Cambodia and Laos, shared, "The MoU signing event here at the BVU today further demonstrates the potential and appetite for more UK higher education in Vietnam. The ACCA is committed to improving higher education opportunities, including expanding international education partnerships with organisations such as the BVU. I am confident that these partnerships will be of immense benefit to Vietnamese students in the future."

He hoped that the ACCA's cooperation with the VACPA and several universities would be an important step in the cooperation relationship between Vietnam and the UK, opening up new opportunities and bringing practical benefits to businesses in the future. He feels that this is also one of the priorities to be promoted in the coming years, connecting businesses and organisations in the two countries in areas where the UK has strengths and Vietnam has great potential for development.

Major boost for finance and accounting students
Graham Stuart commenting on the long-term benefits of cooperation

The ACCA is the first major professional association to use IFRS as a platform for exams and to participate fully in the thought process and debates when updated standards are issued. ACCA members are required to update IFRSs as part of an annual professional update programme.

With the advantage of a global network, the ACCA also has the ability to support state management agencies, professional associations, and stakeholders in the application of IFRS. The curriculum of the IFRS has a clear structure and is student-friendly, containing analysis and practical case exercises.

Nguyen Thuy Minh Chau, ACCA representative in Vietnam said, “We believe that working with universities to integrate the course is a significant step forward, actively promoting the development of the accounting and auditing industry in the country.”

Major boost for finance and accounting students
The partnership between the ACCA and the BVU marks an important milestone in promoting international standards in the accounting and auditing industry in Vietnam

Tran Khanh Lam, vice president and general secretary of the VACPA shared, “With the desire to support accounting and auditing teachers and students, VACPA is very pleased to accompany ACCA and the universities offer the certificate. It makes the training programmes in finance and accounting more attractive to students and helps to enhance the position and prestige of the school in the eyes of auditing and finance professionals.”

The training programme has multiple-choice tests in each module for students to check their knowledge and prepare for the certification exam. The model that combines online and classroom learning will address the English language barrier and the complex content of IFRS.

Nguyen Thi Hoai Phuong, acting rector of the BVU said, “The application of IFRS is becoming an inevitable trend. This has opened up opportunities for career development and motivated many students. We always strive to innovate and are happy to cooperate with capable organisations such as ACCA and VACPA to apply international training methods in order to meet the practical requirements of the new era.”

By Anh Duc

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