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ICAEW enforces education network in Cyprus

By Steffen Müller

In cooperation with the Chartered Institute for Securities & Investment (CISI), the Institute of Chartered Accountants in England and Wales (ICAEW) has reinforced its corporate finance education by launching a joint diploma in Cyprus.

The corporate finance diploma is one of the mandatory elements in a joint ICAEW and CISI corporate finance qualification programme, launched in July 2012, which is recognised by the UK financial Conduct Authority and aimed to develop and recognise corporate finance expertise.

In Cyprus, the diploma will be delivered by the Cyprus International Institute of Management (CIIM) and first examinations will take place in December.

"This qualification will provide successful candidates with the practical skills and technical knowledge to handle complex strategic corporate finance situations," ICAEW corporate finance faculty head David Petrie said.

The Cyprus' launch of the diploma intends to allow local financial professionals easier access to the corporate finance qualification in order to boost the financial expertise on the island.

In March 2013 the European Union authorities and the International Monetary Fund (IMF) agreed to rescue the Cypriot economy with a bail-out deal of €2bn ($2.6bn).

"Advising on the right form of finance, either for business growth or for buying another company is an essential skill and having more people trained in that way is vital for economic recovery in Cyprus," Petrie said.

The ICAEW already offers its Associate Chartered Accountant (ACA) qualification in Cyprus through the Cyprus Chartered Accountants Student Society. In the European region, ACA is offered through authorised employers in UK, Cyprus, Gibraltar, Greece, Malta and Romania.

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