Kazakhstan Accounting Professionals Get Boost from International Expertise

Kazakhstan’s Accounting Professionals Get a Boost from International Expertise

Promoting International Standards in Accounting and Finance

ASTANA, Kazakhstan - The Center for Training, Retraining, and Professional Development of Financial System Specialists (JSC) has been at the forefront of promoting international standards in accounting and finance among its trainees. According to the center’s latest figures, 653 specialists have completed training programs, with 312 of them being new trainees.

Partnerships with International Experts

The center has partnered with top international experts to deliver training sessions on accountancy and financial reporting in accordance with International Public Sector Accounting Standards (IPSAS). Notable speakers include:

Frans van Schaik, a member of the IPSAS board and partner at Deloitte.

Seminars on Exchange of Experience

To facilitate knowledge sharing, the center hosted seminars on exchange of experience with foreign experts. Topics covered included:

IFRS for small and medium-sized businesses in Kazakhstan, led by Michael Wells from the International Accounting Standards Committee Foundation.
Andrey Busuyok from the World Bank Europe and Central Asia Region.

International Collaboration

The center’s president, Iskander Absalyamov, recently attended the 18th World Congress of Accountants in Kuala Lumpur, Malaysia, to discuss issues related to training and professional development with international organizations and universities.

Certification Opportunities

As a result of these efforts, trainees can now earn CIPFA and ICAEW certificates upon successful completion of courses and exams. The center has also scheduled training sessions with CIPFA trainers for October 2011.

Government Support

The Ministry of Finance of Kazakhstan has collaborated with the International Financial Reporting Standards (IFRS) and the International Public Sector Accounting Standards (IPSAS) to translate these international standards into Kazakh and Russian languages, available at www.minfin.kz.

Recognition as Official Translator

The center is also recognized as an official translator of IPSAS and IFRS documents. Certification for professional accountants involves three stages: training, examination, and qualification for a Professional Accountant Certificate.

Meeting Demand

In light of the new state law requiring chief accountants in public institutions to be certified professionals from January 1st, 2012, the center’s programs are well-positioned to meet this demand.

Memorandum with ACCA

The center has also signed a memorandum with the Association of Chartered Certified Accountants (ACCA) recognizing its programs equivalent to ACCA exams. The center is working towards approval for its taxes and taxation program to be equivalent to ACCA’s F6-Taxation exams.

Ensuring Examination Integrity

To ensure the integrity of its examinations, the center uses an automated information system (AIS), which eliminates human error, ensures independent examination, and provides multilevel security features.

A Bright Future for Kazakhstan’s Accounting Professionals

With these initiatives in place, Kazakhstan’s accounting professionals are well-equipped to meet international standards and compete on a global scale.