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ACCA signs learning partner in Colombia

The Association of Chartered Certified Accountants (ACCA) has signed a memorandum of understanding (MOU) with Colombian company Business & Legal Advisories (BLA), its first registered learning partner in Latin America.

The agreement was conditional on BLA's completion of the association's registered learning partner accreditation process, relevant to the ACCA's certificates in International Financial Reporting Standards (IFRS), IFRS for SMEs and international audit in Spanish.

The company recently launched a portal providing information of IFRS and offers open access lectures and training materials to professionals seeking to gain a better grounding in the international standards.

Among the strongest economies in Latin America, Colombia garnered a lot of attention from the global accountancy industry in 2014, thanks to sustained growth levels as well as increased efforts towards internationalisation and improvement of financial reporting standards.

The latest ACCA agreement was foreshadowed by an August 2014 MOU between the association and Colombia's national accountancy body, the Instituto Nacional de Contadores Públicos de Colombia (INCP); under the first MOU, ACCA pledged to support the development and implementation of IFRS in the country.

Mainstream adoption of IFRS was singled out as a priority in 2009 and "Colombia is one the few countries that has agreed to adopt both IFRS for public interest companies and IFRS for SMEs," Technical Council of Public Accounting (Consejo Técnico de la Contaduría Pública or CTCP), president Wilmar Franco told TA in September last year.

Commenting on the MOU, ACCA portfolio head of Latin America and Turkey Toby Moseley described the association as "pioneers in incorporating IFRS into the ACCA syllabus."

He added: "We have also translated our specialised IFRS certificates into Spanish to meet the needs for training and certification on IFRS in Colombia and its neighbours in the continent.

"Through our relationship with BLA Ltda., ACCA is directly supporting the awareness, understanding and implementation of IFRS in Colombia."

Related articles:

Colombia: Chronicle of a success foretold

ACCA signs MOU with Colombian accountancy body

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